The First-time Homebuyer Program provides low interest fixed rate mortgage loans and cash assistance for homebuyers purchasing their first home.
You may be eligible for a South Dakota mortgage if you:
- Are a first-time homebuyer, meaning you have not owned a home in the past three years:
- If a homebuyer owned and lived in a dwelling unit that was not permanently affixed to a permanent foundation (ie; a mobile home), it doesn't count as previous homeownership.
- Ask your lender about our Veterans Waiver to see if you qualify.
- Have an income at or below prescribed South Dakota Housing Income Limits.
- The purchase price must be less than $275,000.
Try out our simple FTHB calculator to see if you might be an eligible homebuyer. PLEASE NOTE: The only way to know for sure if you qualify or not is to apply by contacting an SDHDA Participating Lender.