Purchase Loan: Maximum Loan $400,000 Down Payment:  Starting at $500

  • Employees with 80% and below HUD Median Income – Down Payment: $500.00
  • Employees with 80% and above HUD Median Income – Down Payment: $1000.00

Eligible Borrowers:

  • City Of Columbia Employees only- must be employed for twelve months with the City

Eligible Properties:

  • Single family detached homes and Fannie Mae approved condominiums.

Property Location:

  • Home must be within the City of Columbia corporate city limits.

Loan Structure:

  • 1st Mortgage:       75% of Sales Price @ market rate interest for 30 years
  • 2nd Mortgage:      25% of Total loan amount @ 2% interest for 30 years

Closing Costs:   Paid by seller or buyer.


Prepaid Items:   Paid by buyer.