EXIT REAL ESTATE SOLUTIONS

The Community Homeownership Incentive Program (CHIP) specifically from BB&T could help you own the home you have always dreamed about. This income driven program varies by county. CHIP is an easy to qualify loan focused on first time homebuyers that could be for you, especially if you are either unsure about qualifying income, lacking credit history or are concerned about funding a large down-payment.

For those who qualify, this program offers up to 100% financing, NO down-payment, and NO PMI (private mortgage insurance). Without PMI, monthly loan payments are normally less than those with competing FHA loans.  

If you do not qualify for 100% financing, you could still receive 97% financing with a %3 down-payment. All the loans are 30 year fixed loans, but there is no prepayment penalty if the loan is paid off early.

Although this is income driven program, there are some income exempt areas. If the address of the home you are looking to buy is located in a HUD Designated Underserved Area, you may still qualify for the loan even if your income is over the guidelines. To determine if your home is in such an area:

If you are interested in receiving immediate attention to find out if you qualify for this program, please contact us at our website.

If you do not qualify for this program yet are still searching for a home and are interested in becoming a homeowner, you could possibly still be eligible for other lending incentive programs offered by SC State Housing such as the first time home buyer’s program.  This program is offered year round to a wide range of people interested in owning a home.