First-Time Homebuyer

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 permanent foundation (ie; a mobile home), it doesn't count as previous homeownership.
    • Ask your lender about our Veterans Waiver to see if you qualify.
  • Have an income at or below prescribed South Dakota Housing Income Limits.
  • The purchase price must be $300,000 or less.

Try out our simple FTHB calculator to see if you might be an eligible homebuyer. PLEASE NOTE: The only way to know for sure if you qualify or not is to apply by contacting an SDHDA Participating Lender.

To Get Started

Contact one of SDHDA's Participating Lenders for an application and interview. Current interest rates.