See programs you qualify for
Get Matched Free →By Tyler Thompson · Licensed Real Estate Agent · Updated May 7, 2026
Homebuyer Programs in Yankton, SD (2026)
Yankton is the historic first capital of Dakota Territory, sitting on the Missouri River as the county seat of Yankton County, with a median home price near $285,000. Yankton buyers can pair the SDHDA Fixed Rate Plus second mortgage worth 3% or 5% of the loan amount (0% interest, due-on-sale) with GROW South Dakota's $5,000-$10,500 deferred DPA loan and the SDHDA Mortgage Credit Certificate, which returns up to $2,000 per year in federal tax credits. Habitat for Humanity of Clay and Yankton Counties builds and sells homes at no profit with 0% interest mortgages to qualifying families, and the Governor's House Program offers prebuilt $86,000-$96,000 homes through Planning and Development District III, the regional administrator. More than 41 Yankton-area families used SDHDA programs in the last year, totaling more than $5.1 million in financing.
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 |
|---|---|---|---|---|
| Habitat for Humanity of Clay and Yankton Counties Homeownership Program | Zero-Interest Loan | Affordable home sold at no profit with 0% interest mortgage | No | View → |
- Type:
- Zero-Interest Loan
- Amount:
- Affordable home sold at no profit with 0% interest mortgage
- First-time only:
- No
How to Apply
Step 1: Check your eligibility. SDHDA programs cap purchase price at $410,000 in non-targeted areas. GROW SD requires income at or below 80% AMI.
Step 2: Complete a HUD-approved homebuyer education course. The NeighborWorks course is offered online at no cost.
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: For the Governor's House Program, contact Planning and Development District III at 1808 Summit St, Yankton, SD or call (605) 665-4408 (Teresa Kokesh at (605) 260-5652). Habitat applicants should apply through habitatclayyankton.org or call (605) 260-4224.
Step 5: Find a home in Yankton 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.
Step 7: Close on your home. Confirm any second mortgages and the SDHDA Mortgage Credit Certificate are recorded at closing.
Frequently Asked Questions
How much down payment assistance can I get in Yankton?+−
Are there local Yankton down payment assistance programs?+−
Do I have to be a first-time homebuyer in Yankton?+−
What is the maximum home price I can buy in Yankton?+−
How do I apply with Habitat for Humanity of Clay and Yankton Counties?+−
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