South Dakota first-time home buyer programs
South Dakota Housing lists 2 programs that help buyers in South Dakota with the down payment or closing costs. Amounts and terms are shown as the agency publishes them.
- Programs from the agency
- 2
- Biggest amount listed
- $10,000
- First-time buyers only
- None of them
- Income caps
- 120% of area median
Down payment assistance programs in South Dakota
| Program | Amount | Grant or loan | Income limit | First-time buyers only |
|---|---|---|---|---|
| Fixed Rate Plus. With south Dakota Housing's Fixed Rate Plus low fixed-rate first mortgage. | Up to 5% of the home loan | Deferred loan: 0% second mortgage, no payments until the home is sold or the mortgage is paid off. | Ask the agency | No |
| Manufactured Housing Downpayment Program. Only for buyers of manufactured homes not classified as real estate in South Dakota. With a first lien loan from a lender registered with the Nationwide Multistate Licensing System (NMLS). | Up to 50%, at most $10,000 | 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. | Income up to 120% of area median income, county or state, whichever is higher | No |
Usually, "first-time buyers only" means you haven't owned a home during the past three years, though every program sets a rule of its own. The name of each program links to a South Dakota Housing page that says whether applications are open right now. The agency also maintains its own list of participating lenders. Compare down payment assistance programs across all states, or ask a lender that works with South Dakota's programs.
How do you repay South Dakota's programs?
- Deferred loan: nothing to pay each month, but the full amount comes due when you sell, refinance or pay the first mortgage off.
How does your income compare with South Dakota's caps?
Every program has its own income cap, which the table shows, and the exact chart is on that program's agency page. Use the HUD income limits lookup (FY2026) to find the figure for your county and household size. If a program relies on its own county chart or Freddie Mac's, the result can differ from HUD's number, and the agency's chart decides.
| HUD area | Median family income | HUD low-income limit |
|---|---|---|
| Sioux Falls | $118,700 | $94,950 |
| Custer County | $103,200 | $82,550 |
| Rapid City | $101,300 | $81,050 |
| Meade County | $98,000 | $78,400 |
| Sioux City | $97,900 | $78,300 |
Talk to a lender that works with South Dakota programs
These programs are paid out through the agency's approved lenders, so the lender is your next step. Tell us where you're buying and a lender that works with South Dakota's programs can explain which ones fit you.
Rather not call? Send your details and the lender will reach you.
Are you buying near a state border?
Iowa, Minnesota, Montana, North Dakota, Nebraska, Wyoming or programs for all 50 states plus DC.