Home prices that are rising and upfront cash requirements continue to create barriers to homeownership in Columbia and across Richland County. To solve local affordability challenges, the Richland County Community Development Office offers the Richland County Homeownership Assistance Program (RCHAP). This program provides income-eligible buyers with financial assistance toward down payment and closing costs, helping make homeownership more attainable in unincorporated areas of the county.
Key Features:
Benefit:
Up to $24,500 in total assistance:
- Up to $24,500 in down payment and closing cost assistance through Richland County
Funds may also be applied toward principal reduction
Eligibility:
To qualify, borrowers must:
- Be a resident of South Carolina
Be a first-time homebuyer (or not have owned a home within the past three years)
Meet low- to moderate-income limits based on HUD guidelines
Complete required homeownership workshop and education courses
Secure mortgage financing from an approved lender (no co-signer permitted)
Not be under contract on a home prior to completing program requirements
Buyer Requirements:
- Property must be located in unincorporated Richland County
- Property must be owner-occupied as the primary residence
- Property must be a single-family home built after 1978
- Property must pass inspection standards for safety and livability
- Buyer must complete pre-purchase counseling prior to closing
- Income eligibility must be verified during underwriting
- Funding available on a limited basis
- Purchase price limits apply:
- Existing homes: up to $228,000
- New construction: up to $273,000
Loan / Assistance Structure:
- Assistance is provided as a deferred, forgivable second mortgage
- Loan is fully forgiven after 5 years of owner occupancy
- If the buyer exits early, repayment is prorated
- Assistance is applied at closing
- First mortgage must be secured through a qualified lender
- Program terms may change without notice
Application Timeline:
Applications are administered through Richland County following completion of required steps.
Borrowers must:
- Register for and attend the Homeownership Assistance Workshop
- Complete required homebuyer education courses
- Obtain mortgage pre-approval (dated within 30 days)
- Submit full application with income and supporting documentation
- Allow up to 30 business days for application review
- Close on the home with assistance applied at settlement
Agent Action Steps:
- Identify buyers purchasing in unincorporated Richland County
- Screen household income against HUD limits
- Ensure buyer completes workshop and education requirements early
- Connect clients with knowledgeable lenders familiar with the program
- Confirm property eligibility and purchase price limits
Actions for Buyers to Take Now:
- Confirm property is in eligible areas of Richland County
- Verify household income eligibility based on HUD limits
- Register early for the required homeownership workshop
- Complete pre-purchase counseling and education
- Contact a lender for mortgage prequalification
- Prepare income and asset documentation in advance
This program provides structured financial support to reduce upfront homebuying costs and improve access to homeownership in Richland County. Funding is limited and subject to availability.
To get started, contact the Richland County Community Development Office or attend an upcoming Homeownership Assistance Workshop.
If the program is unavailable or income limits are exceeded, additional Homebuyer Programs may be available to explore alternative assistance options. Visit Homebuyerwallet.com now to explore your options.
