Grants for Grads

The Grants for Grads homeownership program provides five percent of the loan amount as a grant to be used for downpayment and/or closing cost assistance when recent graduates wish to purchase their first home in South Dakota.


  • You are a first-time homebuyer, meaning you have not owned a home in the past three years.
  • You have an income at or below prescribed South Dakota Housing Income Limits.
  • The home you are wanting to purchase will be your principle residence and in South Dakota.
  • You are wanting to purchase a house with a purchase price that is less than $250,200.
  • You are a recent graduate, meaning you have earned a degree within the last 60 months from an accredited postsecondary educational facility recognized by the U.S. Department of Education.


The Grants for Grads homeownership program is available for a limited time in conjunction with a SDHDA first mortgage available through a Participating Lender.

How do I apply?

To get started contact a Participating Lender in your area for an appointment to confirm the current interest rates and other SDHDA requirements, and begin the application process.