SDHDA offers Three Rate Options:
Step Rate - The interest rate starts at a predetermined affordable rate and increases one-half of one percent per year for the first four years and then becomes fixed at the beginning of the fifth year, where it stays for the remaining term of the loan.
Fixed Rate - The interest rate is fixed for 30 years.
Fixed Rate Plus - This is the newest rate option offered by SDHDA. The interest rate is fixed for 30 years and it provides a 3% gift for downpayment and closing costs.
Current Interest Rates
3.5% Starting Step
4.5% Fixed
5.0% Fixed Rate Plus
