See programs you qualify for
Get Matched Free →By Tyler Thompson · Licensed Real Estate Agent · Updated May 7, 2026
Homebuyer Programs in Pierre, SD (2026)
Pierre is the capital of South Dakota, sitting on the Missouri River as the county seat of Hughes County, with a median home price near $285,000. As a HAPI service county, Hughes 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, Pierre buyers can assemble meaningful upfront help. The SDHDA Mortgage Credit Certificate adds up to $2,000 per year in federal tax credits, Oahe Habitat for Humanity offers an alternative path to homeownership through sweat equity, and the Governor's House Program provides prebuilt $86,000-$96,000 homes for income-qualified 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 → |
- Type:
- Government Property Sale Program
- Amount:
- Two-bedroom home from $86,000; three-bedroom from $96,000
- First-time only:
- No
- Type:
- Deferred Loan
- Amount:
- $5,000 to $10,500
- First-time only:
- No
- Type:
- Silent Second Mortgage
- Amount:
- 3% or 5% of loan amount
- First-time only:
- Yes
- 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 → |
- 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
- Type:
- Forgivable Loan
- Amount:
- Up to $20,000 in home purchase assistance for down payment and closing costs
- First-time only:
- No
- Type:
- Forgivable Loan
- Amount:
- Up to $17,500 in home purchase assistance for down payment and closing costs
- First-time only:
- Yes
- Type:
- Forgivable Loan
- Amount:
- Up to $15,000 in home purchase assistance for down payment and closing costs
- First-time only:
- No
- Type:
- Government Property Sale Program
- Amount:
- 50% discount off the list price of HUD-owned homes
- First-time only:
- Yes
- 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
- 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
- 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
- Type:
- Government-Guaranteed Mortgage
- Amount:
- 100% financing (no down payment required); loan amount up to appraised value
- First-time only:
- No
- 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 → |
| Oahe Habitat for Humanity Homeownership Program | Repayable Loan | Affordable Habitat-issued mortgage on a Habitat-built home | No | View → |
- Type:
- Forgivable Loan
- Amount:
- $3,500 forgivable grant
- First-time only:
- No
- Type:
- Repayable Loan
- Amount:
- Affordable Habitat-issued mortgage on a Habitat-built home
- First-time only:
- No
How to Apply
Check your eligibility. HAPI requires income at or below 80% AMI for Hughes County. SDHDA programs cap purchase price at $410,000 in non-targeted areas.
Complete the no-cost HAPI Homebuyer Education course. Contact HAPI at (605) 225-4274 or (888) 224-4274 to register.
Get pre-approved with an SDHDA participating lender. Find a lender at sdhousing.org or call SDHDA at 800-540-4241.
Contact HAPI to apply for the $3,500 Housing Opportunity Fund grant. Oahe Habitat for Humanity applicants should reach out through the Pierre Area Chamber or habitat.org for current application info.
Find a home in Pierre within program price limits and use it as your primary residence.
Submit your full application package. Plan 30 to 60 days from contract to close once all assistance is approved.
Close on your home. Confirm the HAPI grant and the SDHDA Fixed Rate Plus loan are documented at closing.