SC State Housing Finance and Development Authority Recognizes June as Homeownership Month
June 13, 2012
Celebrating Homeownership in the Palmetto State
COLUMBIA, SC – May 31, 2012 – The Board of Commissioners of the SouthCarolina State Housing Finance and Development Authority (SC StateHousing) has endorsed a proclamation observing June as HomeownershipMonth. Each year, June is celebrated as National Homeownership Month inorder to emphasize the importance of homeownership, promote itsbenefits, and raise awareness about the vital role it plays in improvinglives, creating jobs and economic opportunities, and strengtheningAmerica’s communities.
SC State Housing strives to increase awareness and build upon thestrong affordable housing programs it offers. Homeownership Monthaffords us the opportunity to emphasize programs such as ourHomeownership Loan Program, which provides loan and down paymentassistance to qualified South Carolina homebuyers.
Interesting statistics regarding SC State Housing’s Homeownership Loan Program:
- The program has made more than 39,000 loans exceeding $2.4 billion.
- The program has made more than 14,500 down payment assistance loans totaling over $37.4 million.
- In Fiscal Year 10-11, activity from the program helped to create837 jobs and generate a total economic output of nearly $114 million.
- The program currently offers a low interest rate of 4.00 percentand up to $4,000 in down payment assistance for qualified borrowers.
“Homeownership Month allows us to reflect on the many benefits ofowning a home, as well as the great accomplishments we have made in thehousing industry – not only in South Carolina, but around the nation,”said Valarie M. Williams, SC State Housing’s Executive Director. “It is atime to celebrate and recognize the countless ways we create andimprove affordable housing opportunities and our many efforts to protecthomeownership in America.”
A recent study conducted by the National Association of Realtors®,“Social Benefits of Homeownership and Stable Housing,” sheds light onthe important role the housing sector plays on the economy and thelong-term social and financial benefits to individual homeowners. Thereport showed that the housing sector directly accounted forapproximately 15 percent of total economic activity in 2011.Additionally, statistical information showed homeownership bringssignificant social benefits to families, communities and the country as awhole.
REALTORS® work closely with state and local leaders to create bettercommunities, protect property rights and build a stronger economy,”said Nick Kremydas, Chief Executive Officer of South CarolinaRealtors®. “We also work for better schools, safer neighborhoods, acleaner environment and affordable housing choices to help familiesachieve the American dream.REALTORS® are proud to stand with SC StateHousing as we work together to improve thequality of life in SouthCarolina.
Other SC State Housing programs providing homeownership assistance:
- Once again, SC State Housing has made available $10 million forits Palmetto Heroes Homeownership Program for 2012. The program isdesigned to help South Carolina law enforcement officers, correctionalofficers, teachers, firefighters, nurses, veterans and EMS personnelbecome homeowners. Qualified home buyers can get a fixed interest rateof 3.75 percent as well as down payment assistance of up to $5,000.
- The South Carolina Homeownership and Employment Lending Program(SC HELP), helps families stay in their homes or otherwise avoidpreventable foreclosure. For more information, visit www.SCMortgageHelp.com.
About SC State Housing
For forty years, SC State Housing has created quality affordablehousing opportunities for the citizens of South Carolina. The agency’svision is that all residents have the opportunity to live in safe,decent and affordable housing. The agency administers a number ofFederal and State programs directed at low and low-to-moderate incomeSouth Carolinians. SC State Housing is self-sustaining and receives nostate appropriations. For more information, visit www.SCHousing.com.
