Affordable Housing
Affordable Housing Loans
We recognize that a stable home is the cornerstone of community strength and individual opportunity. Our affordable housing loans facilitate the creation, rehabilitation, and preservation of housing that addresses the needs of families throughout South Carolina.
What We Offer
We provide comprehensive financing solutions for housing development, including:
- Acquisition financing
- Predevelopment support
- Infrastructure funding
- Construction support
- Rehabilitation loans
- Permanent development financing
Our Housing Impact
We focus on projects that:
- Create access to quality housing
- Improve neighborhood facilities
- Generate employment opportunities
- Attract additional community investment
- Strengthen the social and economic fabric of communities
Eligible Projects
Our loans support the development of:
- Homeownership units
- Rental housing
- Residential projects serving families with economic constraints
We finance the construction, rehabilitation, and redevelopment of housing that provides safe, stable living environments for South Carolina families.
Building Sustainable Communities
Each loan we provide creates a ripple effect of positive change. By supporting housing development, we generate local economic growth, create stable living environments, and open pathways to family stability. Our investments go beyond bricks and mortar – they build the foundation for stronger, more resilient communities where individuals and families can thrive.
Our Approach
More than just a lender, we’re a partner in community development. Our team provides personalized guidance, helping developers navigate the complex landscape of housing finance. We look beyond traditional metrics, understanding that each housing project has the potential to transform lives and strengthen communities.
Affordable Housing Lending In Action
Bluewater Horizons
Bluewater Horizons is an affordable housing developer that worked with the South Carolina Community Loan Fund in 2017 to finance the purchase and renovation of two North Charleston properties. The two properties were financed for just over $1 million, and together provide 36 units of affordable housing available to low-to-moderate-income renters. This population includes seniors or others living on a fixed income and working families. Bluewater Horizons’ owner, Shawn Sprinkel, shared, “My goal is to buy properties that are going to improve the street they are on in an area where the overall neighborhood has been a little neglected,” Sprinkel told Charleston’s Post & Courier. “I really believe in neighborhood stabilization for our society overall .”
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Homes of Hope
Homes of Hope is building 40 new affordable, single-family homes in Berea. The new subdivision is expected to cost $9.7 million to construct. The homes will be for families earning 30% to 120% of the AMI. Eighteen units will be available to rent while the remaining will be for sale. The goal is to remove barriers for families and individuals by providing access to affordable and quality housing, job skills, sobriety, and additional resources if they choose, says Oglesby, the organization’s President and CEO. Don Oglesby. Construction of the homes is underway and expected to take 12 months to complete.