South Carolina hospital offers employees up to $10,000 for home purchase assistance

Beaufort (SC) Memorial Hospital has created a Homebuyer Assistance Program to help staff buy homes or refinance mortgages, with assistance of up to $10,000.

To be eligible for the program, employees must be full-time, have worked at the hospital for at least six months, attend a homebuyer education workshop, and meet household income requirements, among other criteria. according to a Jan. 10 press release from the hospital. .

Additionally, properties must be within 15 miles of a designated Beaufort Memorial campus, be the buyer’s primary residence, and have monthly mortgage payments no greater than 33% of monthly income.

Recipients can use the funds for down payments and closing costs, according to the statement.

The hospital is partnering with development finance institution CommunityWorks for the program.

“We know that home ownership provides stability, security and a means to build financial health and wealth for future generations,” said Beaufort Memorial President and CEO Russell Baxley. “We also recognize that a major hurdle can be finding the money needed for a down payment or closing costs. This relief program will help our employees bridge that financial gap.”

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