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Get Matched Free →SDHDA Mortgage Credit Certificate (MCC)
Funding status: Active
How much assistance
Federal tax credit up to $2,000 per year (30% of mortgage interest)
Tax credit available annually for the life of the loan as long as the home is the primary residence.
Eligibility
- Income limits: Approximately $75,300-$92,300 for 1-2 person households and $85,595-$106,145 for 3+ households (varies by county).
- Purchase price limit: $336,000
- First-time buyer required: Yes — Must not have owned a primary residence in 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 Mortgage Credit Certificate (MCC)
Available only at the time of mortgage origination through an approved SDHDA lender. Fee is $750 ($250 when paired with the SDHDA First-Time Homebuyer Program).
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