Tap Into Homebuyer Grants Available To You
First time home buyers in South Dakota have many options available to them for help in purchasing their first residence. If you think 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 a grant of 3% of the purchase price of your first home. This is a gift, money that never has to be repaid.
South Dakota Grant Details
Here are some details from the SDHDA website:
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 SDHDA grants.
More South Dakota Home Buyer Grants
In addition to the above grant 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 homebuyer assistance available near you, please visit local first time buyer assistance in South Dakota.