Are you thinking of making the transition from renting to owner by purchasing your first home in South Dakota? Would you like a free gift of money to help you purchase that first home? If you answered yes to these two questions, there is great news for you. The state of South Dakota provides free grant money for its residents who are first time home buyers and need help with the down payment and closing costs. This money comes in the form of state grants up to 3% of the purchase price. This is free money that shouldn’t be passed up! The grant awards can be in the thousands of dollars. It will be well worth your time to educate yourself about the grant programs that the State of South Dakota provides.
South Dakota First Time Home Buyer Grants
The agency in South Dakota that provides programs, grants, and other funding assistance to first time home buyers is The South Dakota Housing Development Authority. There is one such program available that is closing cost assistance (3% gift) to the borrower. This gift is never repaid!. How much assistance you get depends upon your income. To find out more details, please visit the South Dakota Housing Development Authority website page specifically describing the grant programs. You can visit it by going to this website.
Here is the contact info for the South Dakota Housing Development Authority:
South Dakota Housing Development Authority
P.O. Box 1237
3060 E. Elizabeth St.
Pierre, SD 57501
Federal First Time Home Buyer Grants
Besides the state down payment and closing cost grant programs, there are federal funds and grants available in South Dakota through the Homes and Communities program of the United States Department of Housing and Urban Development. On their website you’ll find complete grant information, application forms, description of available funds, as well as many other helpful tools.
Every potential home buyer should investigate what they have to offer. You can visit the website by going here: US Dept. of Housing and Urban Development. Also, there is a website that has a complete list of all grant programs available through the United States Federal Government: Grants.gov. You should plan to spend the required time investigating to determine how many individual grant programs you may qualify for. You can visit the website by going to Grants.gov and using their handy search tool to locate more information.
Other Grants in South Dakota
In addition to the grant programs described above, the U.S. Department of Housing and Urban Development provides home buyer assistance and grants in every state. There are multiple grant programs designed specifically for people that meet certain requirements, such as grants for people with disabilities so they can continue to live independently at home. It is worth visiting HUD’s website to see what assistance is currently available. For your convenience, simply go to this website.
Here is the contact information for the HUD office in South Dakota:
Sioux Falls Field Office
4301 West 57th Street
Sioux Falls, SD 57108
Phone: (605) 330-4223
Fax: (605) 330-4465
There are also these local programs:
Multi-County Neighborhood Housing Services of Black Hills Down Payment and Closing Costs Assistance Program (DAP) (605) 578-1401
Multi-County Neighborhood Housing Services of Black Hills Loan Criteria Program (605) 578-1401
South Dakota Teton Coalition Incorporated Affordable Housing Program (AHP) (605) 341-9939