See programs you qualify for

Get Matched Free →

SDHDA First-Time Homebuyer Program (Fixed Rate Plus)

Administered by:

South Dakota Housing Development Authority
· State · Silent Second Mortgage

Funding status: Active

How much assistance

3% or 5% of loan amount

Second mortgage at 0% interest, no payments, due-on-sale or upon satisfaction of first mortgage. No additional fees.

Eligibility

  • Income limits:
    Varies by county. Approximately $71,540 for 1-2 person households and $81,760 for 3+ households (non-targeted areas). MCC limits run higher.
  • Purchase price limit: $410,000
  • First-time buyer required: Yes —
    Has not owned a primary residence in the past 3 years (waived in targeted areas).
  • Credit score minimum: 640
  • Geographic restrictions:
    Property must be located in South Dakota.
  • Homebuyer education required: Yes

How to Apply for SDHDA First-Time Homebuyer Program (Fixed Rate Plus)

Step 1: Apply through an SDHDA participating lender. Find one at sdhousing.org or call 800-540-4241. Complete homebuyer education and submit the lender-prepared application package.

Notes

Verify current county-specific income and price limits at sdhda.org/homeownership.

Available Statewide In