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 → |
| 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:
- 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
Step 1: 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.
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. Oahe Habitat for Humanity applicants should reach out through the Pierre Area Chamber or habitat.org for current application info.
Step 5: Find a home in Pierre within program price limits and use it as your primary residence.
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.
Frequently Asked Questions
How much down payment assistance can I get in Pierre?+−
Are there local Pierre down payment assistance programs?+−
Do I have to be a first-time homebuyer in Pierre?+−
What is the maximum home price I can buy in Pierre?+−
How does Oahe Habitat for Humanity work in Pierre?+−
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