- Up to $5,000 to use toward your down payment, closing costs, or other fees associated with the purchase of a primary home
- Loan is forgivable with no repayment and 0% interest rate if you own the home for at least five years2
- Must qualify for and be combined with a Community Advantage, HomeReady® or Home Possible® mortgage.
Important Legal Disclosures and Information
- All loans are subject to credit approval and program guidelines. Each year a portion of the loan is forgiven, a 1099-C will be issued by SouthState for 1/5 of the forgivable loan amount. The loan funds may be considered taxable income. Consult your tax advisor.
- Funds subject to availability.
- If prior to the fifth anniversary of the Note, all or any part of the Property or an interest therein is sold or transferred by Borrower to any person or entity without Lender's prior written consent, it shall be an event of default ("Event of Default"), Lender may, upon an Event of Default, at Lender's option, declare all the unforgiven, outstanding sums due under the Note and secured by the Security Instrument to be immediately due and payable.
- Applicant income must be 80% or less of the county area median income (AMI) adjusted for family size.