GC Employee Homebuyer Advantage
For information about the program to schedule a one-on-one appointment, please reach out to Julie Hallman at jhallman@gcra-sc.org or by calling (864) 242-9801, extension 109.
Eligibility Criteria
- First-time homebuyer
- Greenville County Employee
- Minimum 1-year employment period
- Must be primary residence
- For additional requirements, see Program Guidelines
Maximum Assistance Available
| Borrower and Co-Borrower Annual Income | Maximum Assistance |
|---|---|
| Up to $70,000 | $40,000 |
| Between $70,000 – $85,000 | $30,000 |
| Between $85,000 – $105,000 | $20,000 |
| Between $105,000 – $130,000 | $10,000 |
Actual assistance will be based on affordability and cash needed to close.
Loan Terms
| Assistance type | Forgivable loan |
| Interest rate | 0% |
| Term | 30 year |
| Recapture policy | Recaptured at 100% from year 0-5 |
| Forgiveness | Forgiven at 20% of loan amount per year between year 5-10 |
| Employment requirement | Must remain employed with County for loan forgiveness |
| Required borrower contribution | $500 |
See Program Guidelines.
Questions?
To contact GCRA with any questions, you may email Julie Hallman at jhallman@gcra-sc.org or call her at (864) 242-9801, extension 109.
Here’s How It Works:
- Reach out to GCRA to assess your financial readiness.
- Complete the application and provide all supporting documents to the GCRA Housing Specialist (Julie Hallman).
- GCRA will provide a conditional pre-approval or denial letter for assistance.
- Choose a Realtor to help you search listings. Choose a Loan Officer or Lender to obtain a loan pre-approval. Provide loan pre-approval to GCRA.
- Make an offer on a home.
- Realtor to provide a copy of purchase contract to GCRA.
- Home inspection completed. Copy provided to GCRA.
- Review findings to decide whether to negotiate repairs, request credits, or proceed as planned.
- Take the homebuyers education with Human Relations and provide certificate of completion to GCRA (cost covered by County)
- Finalize your mortgage application and complete the lender’s requirements, including appraisal, underwriting, and document verification. Provide Loan Estimate and appraisal to GCRA for review.
- Realtor and/or Loan Officer will reach out to GCRA to coordinate the closing.
- GCRA will provide Restrictive Covenant and Promissory Note to closing attorney to be signed at closing.
- Review closing disclosures, confirm final costs, and prepare the funds needed for closing. GCRA will also review the Final Closing Disclosure/Settlement Statement.
- Complete a final walkthrough of the property to verify agreed-upon condition and repairs.
- Attend closing, sign the required documents, transfer funds, and receive the keys to your new home.
- Attorney will provide signed closing disclosure, Promissory Note, and recorded original Restrictive Covenant to GCRA after closing.