South Dakota Manufactured Housing Downpayment Program
South Dakota Housing offers Manufactured Housing Downpayment Program to home buyers in South Dakota: up to 50%, at most $10,000, as a deferred loan.
- Amount
- Up to 50%, at most $10,000
- Kind of help
- Deferred loan
- First-time buyers only
- No
How is South Dakota Manufactured Housing Downpayment Program paid back?
Deferred loan: 0% loan with no payments. You repay it when you sell, give the home to someone else, fall behind on your loan, move out or refinance to take cash out.
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 Manufactured Housing Downpayment Program?
- Only for buyers of manufactured homes not classified as real estate in South Dakota.
- Income up to 120% of area median income, county or state, whichever is higher.
- You don't have to be a first-time buyer.
- It comes with a first lien loan from a lender registered with the Nationwide Multistate Licensing System (NMLS).
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 Manufactured Housing Downpayment Program
- South Dakota Housing 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's page for Manufactured Housing Downpayment Program, or pick a lender from the agency's list of participating lenders.
Ask a lender about South Dakota Manufactured Housing Downpayment Program
Tell us where you're buying and a lender that works with South Dakota's programs can tell you whether South Dakota Manufactured Housing Downpayment Program 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 Fixed Rate Plus: up to 5% of the home loan, deferred loan.
All South Dakota first-time home buyer programs · Down payment assistance in every state