November 1, 2017

Just a Reminder: SDHDA Offering $1500 Closing Cost Assistance - All loans must be closed on or before Dec. 31, 2017

South Dakota Housing Development Authority (SDHDA) recently announced a new borrower benefit for first-time and repeat homebuyers. Instead of depleting a savings account to pay for closing costs, eligible homebuyers are now able to receive a $1,500 Closing Cost Grant from SDHDA, enabling those much-needed savings for a rainy-day account.

Assistance is in the form of a grant and does not have to be repaid. Borrowers must meet certain qualification requirements including income and purchase price restrictions. The income limits vary by county and are different from SDHDA’s other homeownership programs.

Grants are available for a limited time, until funds are depleted, and loans must be closed on or before Dec. 31, 2017. The $1,500 Closing Cost Grant cannot be combined with SDHDA’s Fixed Rate Plus option, but may be used in conjunction with SDHDA’s Tax Credit (MCC) product which reduces the amount of federal income tax that homebuyers pay.

Homebuyers interested in assistance can begin the application process by visiting a lender offering SDHDA homebuyer products. A list of participating lenders can be found on or by calling 800.540.4241.


ABOUT SOUTH DAKOTA HOUSING DEVELOPMENT AUTHORITY: South Dakota Housing Development Authority (SDHDA) was created by the South Dakota legislature in 1973 with a stated mission to provide decent, safe and affordable housing to low- and moderate-income South Dakotans. SDHDA is a self-supporting, nonprofit entity. SDHDA utilizes housing bonds, tax credits and other federal and state resources to fund housing programs that provide mortgage and downpayment assistance, housing construction and rehabilitation, homelessness prevention and rental assistance. SDHDA does not discriminate against any person because of race, color, creed, religion, sex, disability, familial status or national origin. For more information, visit

The South Dakota Housing Development Authority…Building a Better Quality of Life. 

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