The City of Rock Hill is committed to ensuring that every citizen living within the corporate limits inhabits a dwelling that is decent, safe, and sanitary. The City’s Neighborhood Development Division is actively involved in efforts to promote this philosophy with its First Time Homebuyer and Housing Rehabilitation Programs. The division serves as staff for the Housing Development Corporation of Rock Hill, which administers the housing programs.
First-Time Homebuyer Program
Through this program, the Housing Development Corporation of Rock Hill provides down payment and closing cost assistance of up to $5,000 to eligible first-time homebuyers. Occasionally, there are programs offering a larger amount of assistance. To be eligible for this program, an individual or family need to meet the income limits set by HUD and be interested in purchasing a home within the city limits of Rock Hill. (The total household income may not exceed 80% of the area median income.) In addition, the applicant must attend homebuyer education class.
The assistance is in the form of a second mortgage that is forgiven in increments annually over a 5-20 year period, depending on the program. The applicant provides $500 earnest money that is applied to the down payment. The applicant may choose a home anywhere within the city limits of Rock Hill. The applicant must then select a lender to provide the first mortgage.
First-Time Homebuyer Education Program
Prior to receiving assistance, potential homebuyers must complete a Homebuyer Education course. This program provides home purchase counseling and home maintenance information to first-time homebuyers. This class assists potential home purchasers to address a number of barriers to home purchase, such as low credit scores, credit issues and high interest rates. Home maintenance instructions are included to enable the home purchaser to take preventative measures to avoid high repair costs.