For Rural Home Buyers in South Carolina!
· Single family homes, condos and modular’s
· No cash reserves required
· No down payment required
· 30 year fixed rate mortgages
· No square footage requirements
· Loans may be up to 102% of appraised value
· Seller concessions up to 3%-6%
- No private mortgage insurance (PMI) required!
- No restriction on acreage
- No more thermal requirements on existing dwellings!!! (this is big)
Restrictions:
- Income limits apply–(higher than state housing)
- Property must be located in a rural area. Please check property eligibility on website: http://eligibility.sc.egov.usda.gov/eligibility/welcomeaction.do
- Applicants must have acceptable credit history (usually 620 or better but there are exceptions)
- No mobile or existing manufactured homes (modular’s ok)
- No properties with in-ground pools
- No income producing properties
Counties which are completely rural
- Abbeville
- Allendale
- Bamberg
- Barnwell
- Calhoun
- Cherokee
- Chester
- Chesterfield
- Clarendon
- Colleton
- Dillon
- Edgefield
- Fairfield
- Hampton
- Jasper
- Kershaw
- Lancaster
- Laurens
- Lee
- McCormick
- Marion
- Marlboro
- Newberry
- Oconee
- Saluda
- Union
- Williamsburg
******all most every county has a few eligible properties so it’s worth checking
At your service,
Susan Bryant, CRS, GRI, CBR, CM
AgentOwned Realty, Preferred Group