SD Housing Introduces Grants for Grads Program
PIERRE, S.D. (5/2/24) – South Dakota Housing (SDH) has launched a program aimed at assisting postsecondary graduates in purchasing their first home in South Dakota.
The “Grants for Grads” program will launch May 3, 2024, and will be open to first-time homebuyers who:
· Meet certain income requirements;
· Are purchasing a primary residence in-state;
· Have not owned a home in the past three years;
· Select a home with a purchase price of $385,000 or less; and
· Have earned a degree from an accredited postsecondary educational facility within the past 60 months.
“With graduation upon us, graduates will now have another reason to settle in South Dakota,” Brent Adney, director of homeownership programs said. “With the high interest rate environment, the Grants for Grads program will help recent graduates with an additional gift in the form of a grant to purchase their first home and settle here.”
SDH plans to offer this program for a limited time through participating lenders, with per-beneficiary assistance at five percent of the loan amount. In order to apply for the program, participants must contact a lender to set an appointment.
View “Grants for Grads” participating lenders here: https://www.sdhousing.org/ready-to-buy/find-a-lender#gsc.tab=0
About South Dakota Housing
South Dakota Housing was created by the South Dakota Legislature in 1973 with a stated mission to provide opportunities for quality, affordable housing for South Dakotans. South Dakota Housing is a self-supporting, nonprofit entity known for our commitment for providing innovative financing solutions to create and preserve affordable housing. We utilize housing bonds, tax credits, and other federal and state resources to fund housing programs which provide mortgage and downpayment assistance, housing construction and rehabilitation, homelessness prevention, rental assistance, and educational opportunities.
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