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City of Sioux Falls Homebuyer Assistance Program

Administered by:

City of Sioux Falls Community Development
· City · Forgivable Loan

Funding status: Active

How much assistance

Up to $8,000

Forgivable second mortgage. Loan is forgiven over a set period of owner-occupancy; if the buyer sells, refinances, or moves out before the term ends, the unforgiven balance is repaid.

Eligibility

  • Income limits:
    At or below 80% Area Median Income (approximately $68,200 for a family of four in Minnehaha County). Verify current limits with the City.
  • First-time buyer required: Yes —
    Has not owned a primary residence in the past 3 years.
  • Credit score minimum: 640
  • Geographic restrictions:
    Property must be located within Sioux Falls city limits and used as the buyer's primary residence.
  • Homebuyer education required: Yes

How to Apply for City of Sioux Falls Homebuyer Assistance Program

Step 1: Contact the City of Sioux Falls Community Development Division at (605) 367-8180. Complete a HUD-approved homebuyer education course (Sioux Empire Housing Partnership at (605) 339-0942 is a local provider). Submit the application along with a signed purchase agreement.

Notes

Reported assistance amounts vary across third-party sources ($8,000 forgivable to $12,000 deferred). Verify current amount, structure, and forgiveness terms directly with the City of Sioux Falls before applying.

Cities Where This Program Is Available