Homeownership
SDHDA's Tax Credit (MCC)
SDHDA's Tax Credit is available through a Mortgage Credit Certificate (MCC), which reduces the amount of federal income tax you pay, giving you more disposable income. With SDHDA's Tax Credit (MCC), a percentage of your mortgage interest can be used as a dollar-for-dollar reduction in your tax bill and the remaining interest paid is still eligible for the home mortgage interest deduction.
Who Can Apply?
You may qualify for the program if:
- You are purchasing your first home which means you have not owned a home in the last three years.
- The Maximum home sales price does not exceed the current purchase price limit of $300,000 or if the home is located in a federally designated targeted area, $366,000.
- You have an income at or below prescribed South Dakota Housing Income Limits
To Get Started
Contact one of SDHDA Participating Lenders for an application and interview