The Loan Assistance Program (LAP) provides downpayment and closing cost assistance in connection with a home purchase financed by a first mortgage loan through an approved South Dakota Housing Development Authority (SDHDA) Participating Lender.

The interest rate for LAP Loans is 5.0%.  LAP Loans have level monthly payments and a loan term of 5 years.  Loan amounts up to $5,000.

You will be required to attend an approved Homebuyer Education class.

Payments for LAP Loans are included with your regular monthly house payment.

Click here for a printable list of Downpayment Assistance (DPA) Income and Purchase Price Limits.