South Dakota Fixed Rate Plus

How do you repay South Dakota Fixed Rate Plus?

Deferred loan: a 0% second mortgage with nothing to pay until you sell the home or finish paying the mortgage.

With a deferred loan there is no monthly cost, and selling, refinancing or paying off the first mortgage makes the full balance due.

Which buyers meet the South Dakota Fixed Rate Plus rules?

• Being a first-time buyer isn't required.
• It's paired with the low fixed-rate first mortgage from south Dakota Housing's Fixed Rate Plus.

Your county and household size set most of the limits. Use our HUD income limits lookup to see the median income for your area and how your household compares.

Applying for South Dakota Fixed Rate Plus

1. The South Dakota Housing Development Authority uses its approved lenders to pay this help, so you apply with one during your home loan application.
2. Your lender reviews your income, credit and the home against program rules and sets the money aside for you.
3. The money goes toward your down payment and closing costs at closing.

Check South Dakota Housing Development Authority's page for Fixed Rate Plus for the full rules and if it is accepting applications, or choose a lender from the agency's participating lender list.

More South Dakota first-time buyer programs

• South Dakota Manufactured Housing Downpayment Program:

  Deferred loan: up to 50%, never above $10,000.

All first-time home buyer programs for South Dakota · Down payment assistance in each state