SC Housing Newsletter

October/November 2018

SC Housing Announces Two New Mortgage Programs

SC Housing Announces Two
New Mortgage Programs

Palmetto Home Advantage Program Now Open to All Approved SC Housing Lending Partners

The Palmetto Home Advantage Program is SC Housing’s new mortgage program designed to serve both first-time and “move-up” borrowers. It is a Fannie Mae conventional mortgage offering 3% or 5% (based on loan amount), forgivable down payment assistance (DPA), no first-time homebuyer requirements and reduced mortgage insurance coverage (18% vs 25%) for lower monthly payments. New and existing homes are eligible.

Borrowers must have a credit score of 640 or higher, and the qualifying borrower income is $87,500 or less. An additional incentive for the homebuyer is that a Palmetto Home Advantage Loan may be used with a Mortgage Credit Certificate (MCC). The MCC allows a homebuyer with a tax liability to take a federal income tax credit up to $2,000 for a portion of their annual interest paid on their mortgage loan as long as it is their primary residence.

For more information:

For a list of participating lending partners, visit our website at, call us direct at 803.896.2211 or email us at

SC Housing Announces Two New Mortgage Programs

Hardest Hit Fund Down Payment Assistance (DPA) Program Offers Each Qualified Borrower $15K DPA

SC Housing announces the Hardest Hit Fund DPA Program, an FHA mortgage program for first-time homebuyers in specific zip codes within Richland, Lexington and Sumter counties. Designed to strengthen demand and stabilize house prices, the federal government Hardest Hit Fund (HHF) is providing funding for $15,000 DPA to each qualified recipient. This DPA will be completely forgiven if the homebuyer remains in the house for at least ten years.

The HHF DPA is available for existing homes only, and SC Housing Homebuyer Program income and house price limits apply. Applicants must have a minimum credit score of 620, and the home must be the buyer’s primary residence. This is a limited program, offered on a first-come, first-served basis. Reservations opened October 15, 2018.

For more information:

For a list of participating lending partners, visit our website at, call us direct at 803.896.2211 or email us at

Chairman Donald Tomlin at Ribbon Cutting

Board Chairman Tomlin Speaks at MIRCI House Grand Opening

SC Housing recently participated in the grand opening of a landmark facility for young adults in our community who often find themselves in a vulnerable position—without guardians and/or adequate systems of support. Many of these young adults, who have “aged out” or exited the foster care and/or juvenile justice systems, are homeless or in unstable and unsafe living situations. The youth to be housed will have access to counselors, educational programs and job training services.

SC Housing , through the state’s Housing Trust Fund, provided the Mental Illness Recovery Center, Inc. (MIRCI) with $300,000 to construct a 10 bedroom supportive housing project that will house young men between the ages of 17 and 24. This group home will provide the needed transition assistance for these homeless young adults and expand the reach of MIRCI’s current youth drop-in center.

Through the collective efforts of MIRCI and its community partners, these young adults will now have access to safe and decent housing, which is the mission of SC Housing. We congratulate MIRCI on bringing this vision to completion for the Midlands Community and thank them for their continued partnership with SC Housing on affordable housing initiatives.

John Tyler joins SC Housing

SC Housing Welcomes John Tyler as Director of Housing Initiatives and Innovation

John, a native of Columbia, S.C., joins us from the legal world, where he spent the last nine years handling matters in finance, construction, civil rights, and professional liability. Before he began practicing law, John worked on various public policy initiatives. Additionally, he worked in the S.C. Senate for the Honorable Warren K. Giese. He has a Bachelor of Science from the University of South Carolina in business administration and a Juris Doctor from Regent University School of Law. Prior to USC, he attended Covenant College where he received a soccer scholarship.

He is married to the former Christine Zaepfel of Chapin, S.C. John and Christine have four children. John enjoys spending time with his family, the great outdoors, playing guitar and leading music at his church, smoking BBQ on the weekends, and anything sports or music related.

Program Highlights

Annual Housing Tax Credit Roundtable in Columbia

Annual Housing Tax Credit Roundtable Held in Columbia

The annual Housing Tax Credit Roundtable is held every year to start the discussion process with the development community for updating the next year’s tax credit program Qualified Allocation Plan (QAP) and Tax Credit Manual. This year’s meeting was held on Tuesday, August 28 at the Embassy Suites in Columbia. There were more than 90 attendees made up of developers (for profit and nonprofit), conventional lenders, syndicators, market analysts, architects, city officials, etc. from South Carolina as well as other Southeastern states. After the roundtable meeting, comments received at the meeting, as well as written comments sent to the agency, are reviewed and incorporated into a Draft 2019-2020 QAP and 2019-2020 Tax Credit Manual. The draft documents were posted to the SC Housing’s website on Monday, October 8, along with the notice that a Public Hearing will be held on October 26, at the SC Housing Office from 10 a.m. – noon, in order to take public comments about the draft documents. Any final comments provided will be incorporated into the Proposed Final 2019-2020 QAP and 2019-2020 Tax Credit Manual which will be presented to the Board of Commissioners at the November 28 Board meeting. After the meeting, and at the Board’s direction, the Final 2019-2020 QAP will be sent to Governor McMaster for his review and signed approval.

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Housing Development Makes FY2018 Awards

SC Housing made 21 Housing Tax Credit (LIHTC) awards and 7 Small Rental Development Program (SRDP) awards for FY2018. Awards statistical information:


  • 21 awards - 16 new construction, 5 acquisition/rehabilitation
  • 2 awards for elderly (all tenants at 62+ years old), 8 awards for older persons (at least one head of household 55+) and 11 awards for family developments
  • $13,611,546 allocated in tax credits
  • $4,434,246 allocated in HOME funds to help fill funding gaps
  • Creating and/or preserving 853 units


  • 7 awards - all new construction
  • 1 award for elderly, 1 award for older persons, and 5 awards for family developments
  • $4,360,000 awarded with National Housing Trust Funds
  • $9,489,000 awarded with HOME funds
  • $8,244,863 awarded with State Housing Trust Funds

Community Events

Executive Director Bonita Shropshire At Ramblewood Ribbon Cutting

Ramblewood Apartments Ribbon Cutting

SC Housing Executive Director, Bonita Shropshire, participated in the August 31 ribbon cutting ceremony for Ramblewood Apartments in Batesburg, S.C. Ramblewood is a 64-unit Housing Tax Credit (LIHTC) rehabilitation property run by Boyd Management.

SC Lowcountry Workshop and Charrette

South Carolina Lowcountry Workshop and Charette

Executive Director Shropshire represented SC Housing at a workshop hosted by Palmetto State Bank and Federal Home Loan Bank Atlanta on October 3rd in Bluffton, S.C. The workshop focused on the theme "Bringing Workforce and Affordable Housing to the South Carolina Lowcountry." Topics of discussion included median household income and home sales analysis in Beaufort, Hampton and Jasper counties.

“As housing professionals, it is imperative that we recognize and address the challenges affecting affordable housing availability. By building strong, sustainable partnerships, and leveraging our people and resources, we can move closer to our objective of finding safe, decent and affordable homes for our citizens,” says Mrs. Shropshire.

80th TGHA Anniversary

80th Anniversary Celebration

Executive Director Bonita Shropshire, along with city, state and regional officials, attended The Greenville Housing Authority (TGHA) anniversary celebration and reception held at Greenville One on September 27. This special event was held to showcase TGHA's positive impact on the Greenville community, from its founding in 1938 to present day accomplishments. Mrs. Shropshire says, "I would like to congratulate Ivory Mathews and the entire Greenville Housing Authority Board and staff, on 80 years of exceptional service and commitment to the citizens of Greenville."

MBAC Annual Conference

Mortgage Bankers Association of the Carolinas, Inc. Annual Conference

Asheville, North Carolina was the venue for the recent Mortgage Bankers Association of the Carolinas, Inc. (MBAC) conference. MBAC members include residential and commercial mortgage bankers, mortgage brokers, wholesale lenders, savings & loan associations, commercial banks, credit unions, government agencies, non-profit organizations, and companies that provide affiliated services to mortgage bankers. Attending from SC Housing were Claude Spurlock and Steve Clements from the Homeownership Department.

The event happened to coincide with the statewide announcement of the new Palmetto Home Advantage program and The Hardest Hit Fund Down Payment Assistance program for the midlands area. Steve Clements reported that “I cannot get over how positive the feedback was that we received. Everyone commented on how good the marketing material looked. SC Housing was specifically recognized as an exhibitor in a meeting session.” A representative from one of our large bank lenders commented, “You guys are really making some exciting changes, we would like to include you on our next monthly sales call to bring attention to your program offerings.”

These are exciting times for the SC Housing Homeownership area. The Palmetto Home Advantage means a whole new category of potential homeowners will now be able to become SC Housing customers. Additionally, SC Housing has a new arena in which to showcase its products and skills at making homeownership possible.

October/November Calendar

October/November Calendar
Ribbon Cuttings/Grand Openings
October 26 Oakside Apartments, Johns Island, S.C.
Board Meetings
October 24 SC Housing Board Room, Columbia, S.C.
November 28 Charleston, S.C.
Community Events
October 22 Governor’s Team SC Day, Conway Recreational Center, Conway, S.C.
October 23 Oconee County Housing Focus Group, Location TBD
October 24-25 North Carolina Housing Conference, Raleigh Convention Center, Raleigh, N.C.
October 25 Governor’s Team SC Day, Georgetown County, TBD
October 26 Housing Tax Credit Public Hearing, SC Housing Office, Columbia, S.C.
October 30 Governor’s Team SC Day, Marion County, TBD

Our Mission is to create quality affordable housing opportunities for the citizens of South Carolina.

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