How much down payment assistance can I get in Huron?

Huron buyers can stack the HAPI Housing Opportunity Fund grant ($3,500 forgivable) with the SDHDA Fixed Rate Plus second mortgage (3% or 5% of the loan, 0% interest, due-on-sale). On a $170,000 loan, the SDHDA Fixed Rate Plus alone adds $5,100 to $8,500. GROW South Dakota offers an additional $5,000 to $10,500 deferred DPA loan, and the SDHDA Mortgage Credit Certificate returns up to $2,000 per year in federal tax credits.

Why is the HAPI grant in Beadle County forgivable instead of a loan?

HAPI offers a $3,500 forgivable Housing Opportunity Fund grant in 16 northeastern South Dakota counties including Beadle (Huron). The forgivable version is funded by SDHDA Housing Opportunity Funds and is forgiven as long as the buyer remains in the home. In Brown County only, HAPI offers the same $3,500 amount as a non-forgivable interest-free deferred loan.

Do I have to be a first-time homebuyer in Huron?

Not for every program. SDHDA First-Time Homebuyer Program and the SDHDA Mortgage Credit Certificate require that you have not owned a primary residence in the past three years (waived in HUD-targeted areas). HAPI and GROW South Dakota do not strictly require first-time buyer status but prioritize low-to-moderate income households.

What is the maximum home price I can buy in Huron?

The SDHDA First-Time Homebuyer Program caps purchase price at $410,000 in non-targeted areas. The SDHDA Mortgage Credit Certificate caps at $275,000 to $336,000 depending on county and target-area status. With a local median home price near $190,000, most Huron homes fit comfortably within all program limits.

What homebuyer education is required?

A HUD-approved homebuyer education course is required for HAPI, SDHDA programs, and GROW South Dakota DPA. HAPI offers its course at no cost. Contact HAPI at (605) 225-4274 to register.

See programs you qualify for

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By Tyler Thompson · Licensed Real Estate Agent · Updated May 7, 2026

Homebuyer Programs in Huron, SD (2026)

Population: 14,385 | Median home price: $190,000 | Est. closing costs: $4,000 - $5,500

Huron is the county seat of Beadle County and one of the most affordable mid-sized markets in South Dakota, with a median home price near $190,000. As a HAPI service county, Beadle County buyers qualify for HAPI's $3,500 forgivable grant for down payment and closing costs. Stacked with the SDHDA Fixed Rate Plus second mortgage worth 3% or 5% of the loan amount (0% interest, due-on-sale) and GROW South Dakota's $5,000-$10,500 deferred DPA loan, Huron buyers can put together substantial upfront help. The SDHDA Mortgage Credit Certificate adds up to $2,000 per year in federal tax credits, and the Governor's House Program offers prebuilt $86,000-$96,000 homes priced well within reach for income-qualified Huron residents.

State Programs in South Dakota

Program Name	Type	Amount	First-Time Only	Details
Governor's House Program	Government Property Sale Program	Two-bedroom home from $86,000; three-bedroom from $96,000	No	View →
GROW South Dakota Down Payment Assistance	Deferred Loan	$5,000 to $10,500	No	View →
SDHDA First-Time Homebuyer Program (Fixed Rate Plus)	Silent Second Mortgage	3% or 5% of loan amount	Yes	View →
SDHDA Mortgage Credit Certificate (MCC)	Tax Credit	Federal tax credit up to $2,000 per year (30% of mortgage interest)	Yes	View →

Governor's House Program

Type:: Government Property Sale Program
Amount:: Two-bedroom home from $86,000; three-bedroom from $96,000
First-time only:: No

GROW South Dakota Down Payment Assistance

Type:: Deferred Loan
Amount:: $5,000 to $10,500
First-time only:: No

SDHDA First-Time Homebuyer Program (Fixed Rate Plus)

Type:: Silent Second Mortgage
Amount:: 3% or 5% of loan amount
First-time only:: Yes

SDHDA Mortgage Credit Certificate (MCC)

Type:: Tax Credit
Amount:: Federal tax credit up to $2,000 per year (30% of mortgage interest)
First-time only:: Yes

Federal Programs

Program Name	Type	Amount	First-Time Only	Details
FHA Loans	Government-Insured Mortgage	Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026)	No	View →
FHLBA Community Partners Product	Forgivable Loan	Up to $20,000 in home purchase assistance for down payment and closing costs	No	View →
FHLBA First Time Homebuyer Product	Forgivable Loan	Up to $17,500 in home purchase assistance for down payment and closing costs	Yes	View →
FHLBA Workforce Housing Plus+	Forgivable Loan	Up to $15,000 in home purchase assistance for down payment and closing costs	No	View →
Good Neighbor Next Door (HUD)	Government Property Sale Program	50% discount off the list price of HUD-owned homes	Yes	View →
Home Possible Mortgage (Freddie Mac)	Government-Guaranteed Mortgage	Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment	No	View →
HomeReady Mortgage (Fannie Mae)	Government-Guaranteed Mortgage	Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment	No	View →
HUD $100 Down Program	FHA-Financed HUD REO Purchase	Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs.	No	View →
USDA Rural Development Loans	Government-Guaranteed Mortgage	100% financing (no down payment required); loan amount up to appraised value	No	View →
VA Loans	Government-Guaranteed Mortgage	No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026)	No	View →

FHA Loans

Type:: Government-Insured Mortgage
Amount:: Up to FHA county loan limits ($541,287 floor to $1,249,125 ceiling for single-family in 2026)
First-time only:: No

FHLBA Community Partners Product

Type:: Forgivable Loan
Amount:: Up to $20,000 in home purchase assistance for down payment and closing costs
First-time only:: No

FHLBA First Time Homebuyer Product

Type:: Forgivable Loan
Amount:: Up to $17,500 in home purchase assistance for down payment and closing costs
First-time only:: Yes

FHLBA Workforce Housing Plus+

Type:: Forgivable Loan
Amount:: Up to $15,000 in home purchase assistance for down payment and closing costs
First-time only:: No

Good Neighbor Next Door (HUD)

Type:: Government Property Sale Program
Amount:: 50% discount off the list price of HUD-owned homes
First-time only:: Yes

Home Possible Mortgage (Freddie Mac)

Type:: Government-Guaranteed Mortgage
Amount:: Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
First-time only:: No

HomeReady Mortgage (Fannie Mae)

Type:: Government-Guaranteed Mortgage
Amount:: Up to conforming loan limits ($832,750 standard / $1,249,125 high-cost in 2026); 3% minimum down payment
First-time only:: No

HUD $100 Down Program

Type:: FHA-Financed HUD REO Purchase
Amount:: Only $100 down payment required (vs. standard 3.5% FHA down payment). HUD may also pay up to 3% of buyer's closing costs.
First-time only:: No

USDA Rural Development Loans

Type:: Government-Guaranteed Mortgage
Amount:: 100% financing (no down payment required); loan amount up to appraised value
First-time only:: No

VA Loans

Type:: Government-Guaranteed Mortgage
Amount:: No loan limit for veterans with full entitlement (0% down at any price); partial entitlement subject to conforming limits ($832,750 standard in 2026)
First-time only:: No

Nonprofit Programs

Program Name	Type	Amount	First-Time Only	Details
HAPI Housing Opportunity Fund Down Payment & Closing Cost Grant	Forgivable Loan	$3,500 forgivable grant	No	View →

HAPI Housing Opportunity Fund Down Payment & Closing Cost Grant

Type:: Forgivable Loan
Amount:: $3,500 forgivable grant
First-time only:: No

How to Apply

Step 1:

Check your eligibility. HAPI requires income at or below 80% AMI for Beadle County. SDHDA programs cap purchase price at $410,000 in non-targeted areas.

Step 2:

Complete the no-cost HAPI Homebuyer Education course. Contact HAPI at (605) 225-4274 or (888) 224-4274 to register.

Step 3:

Get pre-approved with an SDHDA participating lender. Find a lender at sdhousing.org or call SDHDA at 800-540-4241.

Step 4:

Contact HAPI to apply for the $3,500 Housing Opportunity Fund grant. Submit application with mortgage pre-approval and education completion certificate.

Step 5:

Find a home in Huron within program price limits. Given the local median near $190,000, most homes will fall well within the SDHDA limits.

Step 6:

Submit your full application package. Plan 30 to 60 days from contract to close once all assistance is approved.

Step 7:

Close on your home. Confirm the HAPI grant and the SDHDA Fixed Rate Plus loan are documented at closing.

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