Palmetto Home Advantage Program

Abstract

The Palmetto Home Advantage Program is SC Housing’s mortgage program designed to serve both first-time and “move-up” borrowers. It is a conventional mortgage offering 0%, 3%, 4% or 5% forgivable down payment assistance, no first-time homebuyer requirements and reduced mortgage insurance coverage (18%) for lower monthly payments. New and existing homes are eligible. Conventional ease. Flexible options. For borrowers with credit scores of 640 or higher, Palmetto Home Advantage offers cost savings over the long term. Mortgage insurance may be cancelled; certain restrictions apply. Maximum borrower income limit is 80% of Area Median Income (AMI) as determined by Fannie Mae or Freddie Mac. Your lender will determine if you qualify. A Palmetto Home Advantage Program mortgage may be the loan program for you!