South Dakota Fixed Rate Plus
South Dakota Housing Development Authority offers Fixed Rate Plus to home buyers in South Dakota: up to 5% of the home loan, as a deferred loan.
- Amount
- Up to 5% of the home loan
- Kind of help
- Deferred loan
- First-time buyers only
- No
How is South Dakota Fixed Rate Plus paid back?
Deferred loan: 0% second mortgage, no payments until the home is sold or the mortgage is paid off.
A deferred loan costs nothing each month, but the whole amount is due when you sell, refinance or pay off the first mortgage.
Who qualifies for South Dakota Fixed Rate Plus?
- You don't have to be a first-time buyer.
- It comes with south Dakota Housing's Fixed Rate Plus low fixed-rate first mortgage.
Most limits follow your county and household size. Our HUD income limits lookup shows your area's median income and where your household sits.
How to apply for South Dakota Fixed Rate Plus
- South Dakota Housing Development Authority pays this help out through its approved lenders, so you apply with one of them, together with your home loan.
- The lender checks your income, credit and the home against the program's rules and reserves the money for you.
- The help is paid at closing, toward your down payment and closing costs.
Read the full rules and whether it is taking applications on South Dakota Housing Development Authority's page for Fixed Rate Plus, or pick a lender from the agency's list of participating lenders.
Ask a lender about South Dakota Fixed Rate Plus
Tell us where you're buying and a lender that works with South Dakota's programs can tell you whether South Dakota Fixed Rate Plus fits you, and what you could combine with it.
Rather not call? Send your details and the lender will reach you.
Other first-time buyer programs in South Dakota
- South Dakota Manufactured Housing Downpayment Program: up to 50%, at most $10,000, deferred loan.
All South Dakota first-time home buyer programs · Down payment assistance in every state