Mindblown: a blog about philosophy.

South Carolina's housing authority is increasing aid for homebuyers starting Dec. 16, offering an additional $2,000 for down payments. This initiative aims to enhance homeownership opportunities in the state. Homebuyers can apply for up to $10,000 in a zero-interest, potentially forgivable loan for down payment and closing costs, with eligibility based on individual incomes. Most…

A plan to redefine the boundary between Florence and Darlington counties is currently paused as lawmakers pursue legislation to keep residents in their current counties. A public meeting discussed discrepancies found by the South Carolina Geodetic Survey, which could affect around 80 residences. Legislators aim to introduce a bill to prevent changes in county affiliation,…

Mortgage rates are expected to average 6.3% in 2025, slightly down from 6.7% in 2024, while home prices are projected to rise by 3.7%. Sales of previously owned homes may increase to 4.07 million, but remain below historical averages. The supply of homes for sale is anticipated to improve by 11.7%, and new-home construction will…

A home equity line of credit (HELOC) is a second mortgage allowing homeowners to borrow against their home equity, typically up to 85% of the home's value minus the mortgage balance. It features a draw period of 10 years for borrowing and a repayment period of 20 years for principal and interest payments. HELOCs usually…

High prices and elevated mortgage rates have made it difficult for potential homebuyers in South Carolina. However, there is positive news as home-price and income limits for state housing initiatives have increased. These include downpayment assistance that may not need to be repaid, lower interest rates, and an annual federal tax credit available for the…