Learn About DPA Programs Available To You
First time home buyers in South Dakota have favorable options available to them for help in purchasing their first residence. If you believe that saving enough for a down payment will forever prevent you from buying your first residence, here’s some great news. The South Dakota Housing Development Authority (SDHDA) offers down payment assistance for first home buyers in SD.
South Dakota DPA Details
Help coming up with the needed down payment is perhaps the greatest resource that you can tap into as a first time home buyer. Here are some details from the SDHDA website:
Looking for down payment and closing cost assistance, but not sure where to start? Ask your lender about South Dakota Housing Development Authority’s Fixed Rate Plus loan. If you qualify, you can get up to 3% as a gift to help with the costs of your mortgage. The gift never has to be repaid, though the program does carry a slightly higher interest rate. Ask your lender for more details and to see if you qualify.
To get complete program details, including income limits as well as how to get the application process started, please visit the SDHDA DPA page.
More Down Payment Assistance in South Dakota
In addition to the above DPA program offered by SDHDA, there are local housing agencies in various towns, cities and counties throughout the state that provide financial assistance to prospective 1st time property buyers as well. To find out about more down payment assistance available near you, please visit local 1st time home buyer programs in South Dakota.