Making Homeownership Easier with Downpayment Assistance
RollingSouth Dakota Housing Development AuthoritySDFirst-Time Homeowner
Updated: Dec 1, 2025
Summary
South Dakota’s Fixed Rate Plus down payment assistance provides 3% or 5% of the first mortgage amount as a 0% interest, due-on-sale second mortgage to cover down payment and closing costs, helping first-time and repeat buyers bridge the upfront cost gap.
Benefits
Who Can Apply
Eligible Locations
South Dakota (statewide) through SD Housings participating lender network.
Eligibility
Eligible borrowers who qualify for SD Housing’s Fixed Rate Plus first mortgage and meet standard underwriting, property, and income guidelines for South Dakota Housing programs
Full Description
Verification & Details
Based on SD Housing website describing general homeownership programs; no single program page given so details are broad and variable.
Official source → sdhousing.orgRecommended Resource
First-Time Homebuyer Starter Pack (2025 Edition)
A complete first-time homebuyer toolkit: 9 checklists, timelines, grant guidance, worksheets + editable Excel/Google Sheet budget & affordability calculator.
More statewide programs
Explore additional grants available throughout South Dakota that complement this opportunity.
Available Homebuyer Programs
RollingSouth Dakota Housing Development AuthoritySDFirst-Time HomeownerOther
Updated: Dec 1, 2025
SD Housing’s Available Homebuyer Programs hub introduces first-time and repeat buyers to affordable mortgage options, down payment and closing cost assistance, the Governor’s House Program, and homebuyer education resources statewide.
GROW South DakotaSDFirst-Time HomeownerDeferred loan
Updated: Dec 1, 2025
GROW South Dakota’s Down Payment Closing Costs Assistance programs offer most qualifying buyers between $5,000 and $7,500 in 0% interest, deferred loans to help cover down payment and closing expenses when purchasing a home in eligible South Dakota communities.
Eligible for: Homebuyers in eligible South Dakota rural and urban areas who secure financing from a GROW SD-approved first mortgage lender, meet income (o…
City of Sioux Falls – HousingSDFirst-Time HomeownerDeferred loan
Updated: Dec 1, 2025
Sioux Falls’ Public Safety Down Payment Assistance Program provides up to $20,000 (or 20% of the purchase price) in forgivable down payment assistance to help police officers, firefighters, and other public safety employees buy homes in targeted city neighborhoods.
Eligible for: Full-time, certified public safety officers (police, fire, and other eligible roles) employed for at least one year, purchasing an owner-occ…
South Dakota Housing Development AuthoritySDFirst-Time HomeownerOther
Updated: Dec 1, 2025
SD Housing’s First-Time Homebuyer guide walks new buyers through eligibility rules, income and purchase price limits, and next steps to access low-interest mortgages and down payment assistance in South Dakota.