South Dakota offers 19 down payment assistance programs to help homebuyers cover their down payment and closing costs. This includes 2 grant programs that never require repayment. Programs range from statewide options administered by the state housing finance agency to local city and county programs targeting specific communities.
Maximum assistance available reaches $20,000 through the most generous program. Credit score requirements start as low as 620 for some programs. Most programs require the home to be your primary residence, and many require homebuyer education.
Top Down Payment Assistance Programs in South Dakota
Highlighted programs that combine high assistance amounts with statewide or major-metro availability. See the full list below.
Down Payment Assistance
openConfederated Tribes of Grand Ronde - Housing
20 (max $20,000)
GROW South Dakota DPA
openGROW South Dakota
$5,000 - $10,500
Down Payment Closing Costs Assistance
openGrow South Dakota
$10,500
CDFI Deferred DPCC
verifyNeighborWorks Dakota Home Resources
$10,000
HOF Deferred DPCC
verifyNeighborWorks Dakota Home Resources
$10,000
Grant Programs (2)
Grants are the gold standard of down payment assistance. You receive the money and never have to pay it back.
Down Payment Assistance
Confederated Tribes of Grand Ronde - Housing
Eligibility Snapshot
- First-Time Buyer
- Yes
- Income Limit
- Not specified
- Min Credit Score
- Not specified
- Property Types
- Single-Family, Condominium, Townhouse/PUD
- Max Price
- Not specified
Quick Facts
- Loan Types
- Freddie Mac, Fannie Mae, FHA, VA, USDA-RD +1
- Assistance Type
- grant
- Profession
- All
- Homebuyer Ed.
- Yes
Homes Are Possible (HAPI)
Homes Are Possible, Inc. (HAPI)
Eligibility Snapshot
- First-Time Buyer
- Not specified
- Income Limit
- Income limits apply
- Min Credit Score
- Not specified
- Property Types
- Not specified
- Max Price
- Not specified
Quick Facts
- Loan Types
- Not specified
- Assistance Type
- grant
- Profession
- all
- Homebuyer Ed.
- Not specified
Repayment Terms
Grant. no repayment required (or forgivable loan depending on funding source)
Notes
Check program requirements. Occupancy requirement: Primary residence
Forgivable Loans (2)
Forgivable loans are forgiven after a set period of living in the home. If you stay, you keep the money.
Sioux Falls Public Safety DPA
City of Sioux Falls
Eligibility Snapshot
- First-Time Buyer
- Not specified
- Income Limit
- Not specified
- Min Credit Score
- Not specified
- Property Types
- Not specified
- Max Price
- Not specified
Quick Facts
- Loan Types
- Not specified
- Assistance Type
- forgivable loan
- Profession
- first responders, law enforcement
- Homebuyer Ed.
- Not specified
Repayment Terms
Forgivable loan; forgiven over a set period of residency
Additional Requirements
Restricted to sworn police officers, firefighters, and public safety employees of the City of Sioux Falls
Notes
Restricted to public safety employees. Occupancy requirement: Must reside in specific neighborhoods within Sioux Falls
Sioux Falls Neighborhood Revitalization
City of Sioux Falls
Eligibility Snapshot
- First-Time Buyer
- Not specified
- Income Limit
- Income-eligible
- Min Credit Score
- Not specified
- Property Types
- Not specified
- Max Price
- Not specified
Quick Facts
- Loan Types
- Not specified
- Assistance Type
- forgivable loan
- Profession
- all
- Homebuyer Ed.
- Not specified
Repayment Terms
Deferred or forgivable loans; terms vary by funding year
Notes
Check program requirements. Occupancy requirement: Primary residence in designated neighborhood
Deferred Payment Loans (12)
Deferred loans require no monthly payments while you live in the home. You repay when you sell, refinance, or move out.
Down Payment Closing Costs Assistance
Grow South Dakota
Eligibility Snapshot
- First-Time Buyer
- No
- Income Limit
- Not specified
- Min Credit Score
- Not specified
- Property Types
- Single-Family, Condominium, Townhouse/PUD
- Max Price
- Not specified
Quick Facts
- Loan Types
- Freddie Mac, Fannie Mae, FHA, VA, USDA-RD +4
- Assistance Type
- deferred loan
- Profession
- All
- Homebuyer Ed.
- Yes
Interest Rate
None
Repayment Terms
Deferred Payment - Repayable at sale or refinance
CDFI Deferred DPCC
NeighborWorks Dakota Home Resources
Eligibility Snapshot
- First-Time Buyer
- No
- Income Limit
- Not specified
- Min Credit Score
- Not specified
- Property Types
- Single-Family, 2 units, 3 units, 4 units, Condominium, Townhouse/PUD
- Max Price
- $385,000
Quick Facts
- Loan Types
- FHA
- Assistance Type
- deferred loan
- Profession
- All
- Homebuyer Ed.
- Yes
Interest Rate
None
Repayment Terms
Deferred Payment - Repayable at sale or refinance
HOF Deferred DPCC
NeighborWorks Dakota Home Resources
Eligibility Snapshot
- First-Time Buyer
- No
- Income Limit
- Not specified
- Min Credit Score
- Not specified
- Property Types
- Single-Family, 2 units, 3 units, 4 units, Condominium, Townhouse/PUD
- Max Price
- $385,000
Quick Facts
- Loan Types
- FHA
- Assistance Type
- deferred loan
- Profession
- All
- Homebuyer Ed.
- Yes
Interest Rate
None
Repayment Terms
Deferred Payment - Repayable at sale or refinance
NLS DPCC
NeighborWorks Dakota Home Resources
Eligibility Snapshot
- First-Time Buyer
- No
- Income Limit
- Not specified
- Min Credit Score
- Not specified
- Property Types
- Single-Family, 2 units, 3 units, 4 units, Condominium, Townhouse/PUD
- Max Price
- $385,000
Quick Facts
- Loan Types
- FHA
- Assistance Type
- deferred loan
- Profession
- All
- Homebuyer Ed.
- Yes
Neighbor Next Door DPCC
NeighborWorks Dakota Home Resources
Eligibility Snapshot
- First-Time Buyer
- No
- Income Limit
- Not specified
- Min Credit Score
- Not specified
- Property Types
- Single-Family, 2 units, 3 units, 4 units, Condominium, Townhouse/PUD
- Max Price
- $385,000
Quick Facts
- Loan Types
- FHA
- Assistance Type
- deferred loan
- Profession
- All
- Homebuyer Ed.
- Yes
Closing Cost Assistance
Homes are Possible, Inc.
Eligibility Snapshot
- First-Time Buyer
- No
- Income Limit
- Not specified
- Min Credit Score
- Not specified
- Property Types
- Single-Family, Condominium, Townhouse/PUD
- Max Price
- Not specified
Quick Facts
- Loan Types
- Freddie Mac, Fannie Mae, FHA, VA, USDA-RD +1
- Assistance Type
- deferred loan
- Profession
- All
- Homebuyer Ed.
- Yes
Repayment Terms
Deferred Payment - Repayable at sale or refinance
Legacy DPCC
NeighborWorks Dakota Home Resources
Eligibility Snapshot
- First-Time Buyer
- No
- Income Limit
- Not specified
- Min Credit Score
- Not specified
- Property Types
- Single-Family, 2 units, 3 units, 4 units, Condominium, Townhouse/PUD
- Max Price
- $385,000
Quick Facts
- Loan Types
- FHA
- Assistance Type
- deferred loan
- Profession
- All
- Homebuyer Ed.
- Yes
Interest Rate
None
Repayment Terms
Deferred Payment - Repayable at sale or refinance
Governor's House Program
South Dakota Housing Development Authority (SDHDA)
Eligibility Snapshot
- First-Time Buyer
- Not specified
- Income Limit
- $54,460 (1-2 person household) / $62,240...
- Min Credit Score
- Not specified
- Property Types
- Not specified
- Max Price
- Not specified
Quick Facts
- Loan Types
- Not specified
- Assistance Type
- deferred loan
- Profession
- all
- Homebuyer Ed.
- Not specified
Income Limits
$54,460 (1-2 person household) / $62,240 (3+ person household)
Check AMI limits for your county →Repayment Terms
Standard mortgage on the home; subsidized pricing reduces overall cost
Additional Requirements
Homes built by prison inmates through workforce program. Net worth limits apply. Not traditional DPA. provides an affordable pre-built home
Notes
Check program requirements. Occupancy requirement: Primary residence
First-Time Homebuyer
South Dakota Housing Development Authority
Eligibility Snapshot
- First-Time Buyer
- Yes
- Income Limit
- Not specified
- Min Credit Score
- Not specified
- Property Types
- Single-Family, Townhouse/PUD, Condominium
- Max Price
- $410,000
Quick Facts
- Loan Types
- Freddie Mac, Fannie Mae, FHA, VA, USDA-RD +1, USDA-RD
- Assistance Type
- deferred loan
- Profession
- All
- Homebuyer Ed.
- Not specified
Repayment Terms
Deferred Payment - Repayable at sale or refinance
Repeat Homebuyer
South Dakota Housing Development Authority
Eligibility Snapshot
- First-Time Buyer
- Not specified
- Income Limit
- Not specified
- Min Credit Score
- Not specified
- Property Types
- Single-Family, Townhouse/PUD, Condominium
- Max Price
- $460,000
Quick Facts
- Loan Types
- Freddie Mac, Fannie Mae, FHA, VA, USDA-RD +4, USDA-RD +1
- Assistance Type
- deferred loan
- Profession
- All
- Homebuyer Ed.
- Not specified
Repayment Terms
Deferred Payment - Repayable at sale or refinance
Chenoa Fund FHA Down Payment Assistance Forgivable
CBC Mortgage Agency (Chenoa Fund)
Eligibility Snapshot
- First-Time Buyer
- No
- Income Limit
- Not specified
- Min Credit Score
- Not specified
- Property Types
- Single-Family, 2 units, Leasehold, Condominium, Townhouse/PUD, Manufactured
- Max Price
- $766,550
Quick Facts
- Loan Types
- FHA
- Assistance Type
- deferred loan
- Profession
- All
- Homebuyer Ed.
- Yes
Chenoa Fund FHA Down Payment Assistance Repayable
CBC Mortgage Agency (Chenoa Fund)
Eligibility Snapshot
- First-Time Buyer
- No
- Income Limit
- Not specified
- Min Credit Score
- Not specified
- Property Types
- Single-Family, 2 units, Leasehold, Condominium, Townhouse/PUD, Manufactured
- Max Price
- $766,550
Quick Facts
- Loan Types
- FHA
- Assistance Type
- deferred loan
- Profession
- All
- Homebuyer Ed.
- Yes
Interest Rate
Note rate 1% above the first mortgage note rate
Repayment Terms
This loan does require a monthly payment on the second mortgage.
Second Mortgages (3)
These programs provide DPA as a second mortgage, sometimes with monthly payments, sometimes deferred.
GROW South Dakota DPA
GROW South Dakota
Eligibility Snapshot
- First-Time Buyer
- Not specified
- Income Limit
- 80% AMI
- Min Credit Score
- Not specified
- Property Types
- Not specified
- Max Price
- Not specified
Quick Facts
- Loan Types
- Not specified
- Assistance Type
- second mortgage
- Profession
- all
- Homebuyer Ed.
- Not specified
Interest Rate
0%
Repayment Terms
0% interest deferred loan; no monthly payments; repayment due on sale, refinance, or when no longer primary residence
Notes
Check program requirements. Occupancy requirement: Primary residence
NeighborWorks Dakota Home Resources
NeighborWorks Dakota Home Resources
Eligibility Snapshot
- First-Time Buyer
- Not specified
- Income Limit
- 115% AMI
- Min Credit Score
- Not specified
- Property Types
- Not specified
- Max Price
- Not specified
Quick Facts
- Loan Types
- Not specified
- Assistance Type
- second mortgage
- Profession
- all
- Homebuyer Ed.
- Not specified
Income Limits
115% AMI (HOF) / 150% AMI (Neighbor Next Door); varies by product
Check AMI limits for your county →Interest Rate
0%
Repayment Terms
HOF: Up to $5,000, 0% interest deferred loan; other products vary
Additional Requirements
Multiple products available: HOF, Neighbor Next Door, and others
Notes
Check specific product requirements. Occupancy requirement: Primary residence
SDHDA Fixed Rate Plus DPA
South Dakota Housing Development Authority (SDHDA)
Eligibility Snapshot
- First-Time Buyer
- No
- Income Limit
- Varies by county
- Min Credit Score
- 620+
- Property Types
- Not specified
- Max Price
- $410,000
Quick Facts
- Loan Types
- Not specified
- Assistance Type
- second mortgage
- Profession
- all
- Homebuyer Ed.
- Not specified
Interest Rate
0%
Repayment Terms
0% interest silent second mortgage; due on sale, refinance, or transfer
Additional Requirements
Must be paired with an SDHDA first mortgage
Notes
First-time and repeat buyers eligible. Occupancy requirement: Primary residence
How to Apply for Down Payment Assistance in South Dakota
-
1
Check Your Eligibility
Use our free eligibility tool to see which programs match your situation. Enter your state, city, income, and target home price.
-
2
Contact the Program Administrator
Each program has its own application process. Visit the program website or call the administering agency to get started. Many programs work through approved lenders.
-
3
Get Pre-Approved with a Participating Lender
Not every lender participates in every DPA program. Work with a lender who is approved for the programs you want. The program administrator can provide a list of approved lenders.
-
4
Complete Homebuyer Education (If Required)
Many programs require a HUD-approved homebuyer education course. Online options through eHome America and Framework are accepted by most programs.
-
5
Close & Move In
DPA funds are typically disbursed at closing alongside your first mortgage. Your lender coordinates the DPA program paperwork as part of the loan process.
Frequently Asked Questions
How much down payment assistance can I get in South Dakota?
Up to $20,000 through available programs in South Dakota. Multiple programs can often be combined for even more assistance. The exact amount depends on your income, location, and the specific program requirements.
Do I need to be a first-time homebuyer?
Not always. 10 programs in South Dakota are open to repeat buyers. "First-time buyer" is typically defined as not having owned a home in the past three years.
What credit score do I need?
As low as 620 for some programs. Most programs require 620-660. Higher credit scores may qualify you for more programs and better terms.
Can I combine multiple DPA programs?
In many cases, yes. Some programs are specifically designed to be layered with others. For example, you might combine a state grant with a local deferred loan. Check with each program administrator about stacking eligibility.
DPA Programs in Nearby States
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