For Immediate Release (June 14 , 2006)
South Dakota Housing Development Authority For More Information: Mark Lauseng, 773-3181
Home Loans Available in Needy Areas
In accordance with federal program guidelines, the South Dakota Housing Development Authority (SDHDA) has funds available through their First-time Homebuyer Program for Targeted Areas of South Dakota. A Targeted Area is a census tract in which 70% or more of the families have incomes that are 80% or less of the statewide median income.
Because these areas are considered to economically distressed, borrowers receiving mortgage loans from SDHDA do not have to be First-Time homebuyers and the income and purchase price limits are generally higher.
The loans are available on a first-come, first-serve basis to any buyer purchasing a principal residence in any of the Targeted Areas in South Dakota. Targeted areas include portions of Bennett, Buffalo, Corson, Dewey, Jackson, Lyman, Shannon, Todd and Ziebach counties.
To verify if a home is in a designated targeted area, please contact your Participating Lender, or the SDHDA Homeownership Department at 605-773-3181.
The South Dakota Housing Development Authority (SDHDA) is an independent, quasi-public agency that finances and develops affordable housing opportunities for low and moderate-income residents throughout South Dakota. SDHDA is totally self-supporting and receives no tax money, appropriations or other funding from the State. SDHDA does not discriminate against any person because of race, color, creed, religion, sex, handicapped, familial status or national origin. SDHDA is a proud partner of the State’s 2010 Initiative to “Brand and Develop South Dakota’s Quality of Life as the Best in America.” For more information, visit www.sdhda.org or www.2010initiative.com.
The South Dakota Housing Development Authority…Building a Better Quality of Life.
