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GROW South Dakota Down Payment Assistance

Administered by:

GROW South Dakota
· State · Deferred Loan

Funding status: Active

How much assistance

$5,000 to $10,500

0% interest, deferred payment, 30-year second mortgage. No monthly payments; balance due on sale, refinance, or maturity.

Eligibility

  • Income limits:
    At or below 80% Area Median Income (AMI).
  • First-time buyer required: No
  • Credit score minimum: 640
  • Geographic restrictions:
    Available statewide in South Dakota.
  • Homebuyer education required: Yes

How to Apply for GROW South Dakota Down Payment Assistance

Step 1: Contact GROW South Dakota at (605) 698-7654. Complete a NeighborWorks Homebuyer Education Course (certificate must be issued at least 48 hours prior to closing) and provide a $500 borrower contribution for the CDFI Deferred DPCC product.

Notes

GROW SD is a NeighborWorks America network member and a CDFI. Programs may be layered with SDHDA Fixed Rate Plus.

Available Statewide In