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The First-time Homebuyer Program provides low interest fixed rate mortgage loans and cash assistance for homebuyers purchasing their first home.
You may be eligible for a South Dakota mortgage if you:
-Are a first-time homebuyer, meaning you have not owned a home in the past three years,
If a homebuyer owned and lived in a dwelling unit that was not permanently affixed to a permannent foundation (ie; a mobile home) it doesn't count as previous home ownership.
Veteran's waiver may apply for qualified applicants.
-Have an income at or below prescribed South Dakota Housing Income Limits.
-The purchase price must be less than $204,432.
To Get Started
Contact one of SDHDA's Participating Lenders for an application and interview.