This could be very good news for teachers! And it's great to see the state investing in them in a way that gets them invested in the community where they teach!

"South Carolina is luring teachers to the state with generous housing assistance.

The state Housing Authority is making $20 million available for home loans to new teachers. The loans carry a 5.9 percent interest rate.

The state expects to offer about 175 loans this year.The program also includes down payment assistance of up to $7,000 for teachers making less than 80 percent of the county’s median income, assistance that will be forgiven if they stay in the home for five years.

Teachers can get the loans, which have a maximum between $180,000 and $240,000, from more than 200 lenders around the state."

For the Associated Press article at Realtor magazine online: http://www.realtor.org/RMODaily.nsf/pages/News2008042206?OpenDocument

For more info from the South Carolina Housing Authority: http://www.sha.state.sc.us/index.asp?n=86&p=0&s=86&x=42