Homebuyer Education

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Owning a home offers you and your family stability, security, and pride. Homeownership is also one of the fastest ways to build equity and accumulate wealth. Today, the process of buying a home, coupled with the wide variety of ever-changing mortgage products and services, it is not surprising that homebuyers are sometimes fearful of the process. Homebuyer education empowers individuals so they can be in control of their purchasing dollars. Attending a homebuyer education class not only takes the fear out of the process but also guides you on your journey as a responsible homeowner. So if you're buying your first home or even your third home, attending a homebuyer education class is really the key to successful homeownership!

Every Homebuyer Needs a HERO

You shouldn’t have to go into homeownership without the knowledge you need. That’s where the Homeownership Education Resource Organization (HERO) comes in. Providing high-quality, comprehensive homeownership and rental information for South Dakotans in need is the No. 1 priority of this independent, 501(c)(3) organization.

Through South Dakota Housing, HERO provides free, useful education to future homeowners so they can buy confidently.

Build a Foundation

Every homeowner needs the knowledge to feel confident about their purchase. After all, it’s one of the biggest—and most rewarding—financial decisions you’ll make in your lifetime. To set you up for success, South Dakota Housing can connect you with educators, counselors and the do-it-yourself tools you need to make the best decision for your household.

Mortgage Calculator

Budgeting for homeownership takes planning ahead—from the utility bills to potential needed repairs. The most important number to consider in advance, though, is your monthly mortgage payment. The calculator below can give you a rough estimate of what your regular repayment installments might look like based on your own personal mortgage situation.

Disclaimer: The calculations derived from the mortgage calculator are for illustrative purposes only, contain samples and estimates, and do not necessarily reflect all potential HOA fees, real estate taxes, homeowner’s insurance, hazard insurance, mortgage insurance, or special assessments. Actual loan interest rates and payments are based on multiple factors including market conditions, points, loan amount, loan-to-value, borrower’s credit, property type, and occupancy. Forecasts, projections, and other predictive statements should never be relied upon. You should consult your own accounting, legal, and tax advisors to evaluate any real estate transaction's risks, consequences, and suitability. SD Housing makes no guarantees as to market conditions. Real estate market conditions involve risks, variables, and uncertainties that may cause the real estate values to differ materially from geographic areas, timeframes, and product types.

HERO Classes

Class Topics

Over 200 homeownership education classes are held throughout South Dakota during the year by a network of HUD-approved housing counseling agencies.  HERO partners can provide classes in a group format, one-on-one or online to potential homeowners. Pre-purchase homebuyer education will provide information on homebuying and financial management including:

  • Personal Money Management - Gain a broader understanding of budgeting and other money management.

  • Credit History Review - Learn the importance of your credit report and the impact it has on homeownership.

  • Financing and the Loan Process - Learn the financing process and available financing alternatives.

  • Shopping for a Home - Find out how to search and select a home appropriate to your needs.

  • Now that I'm a Homeowner - Prepare for the responsibilities of homeownership financially and maintenance of your home.

  • Predatory Lending - A must for all new homeowners! - Learn how to detect fraudulent or deceptive behavior in the mortgage industry.

Additional topics may be covered at the discretion of the HERO Partner.

HERO Partners

Black Hills Community Loan Fund

607 1/2 Mt. Rushmore Road Suite 105
Rapid City, SD 57701
Phone: 605-216-7257
Contact: barbaras@bhclf.org or starm@bhclf.org
Website: www.bhclf.org
homebuyer education

Center for Financial Resources - Lutheran Social Services

705 East 41st Street, STE 100
Sioux Falls, SD 57105-6025
Phone: 605-330-2700 or 1-888-258-2227
Contact: CFR@LssSD.org
Website: homebuyer.lsssd.org
homebuyer education and housing counseling

Cheyenne River Housing Authority

401 Owohe Nupa Drive, PO Box 480
Eagle Butte, SD 57625
Phone: 605-964-4265
Contact: michelle@crhanetwork.org
Website: www.crhanetwork.org
homebuyer education

Consumer Credit Counseling Service of the Black Hills

2310 North Maple
Rapid City, SD 57701
Phone: 605-348-4550 Ext. 144 or 1-800-568-6615
Contact: info@cccsbh.com
Website: www.cccsbh.com
homebuyer education and housing counseling

Homes Are Possible, Inc.

125 South 2md Street
Aberdeen, SD 57401
Phone: 605-225-4274
Contact: jacki@homesarepossible.org
Website: www.homesarepossible.org
homebuyer education

Lakota Funds

Lakota Trade Center, BIA 2; PO Box 340
Kyle, SD 57752
Phone: 605-455-2500
Contact: info@lakotafunds.org
Website: www.lakotafunds.org
homebuyer education

Mazaska Owecaso Otipi Financial, Inc.

108 Oglala Street; PO Box 1996
Pine Ridge, SD 57770
Phone: 605-867-1018
Contact: csteele@mazaskacdfi.org
Website: www.mazaskacdfi.org
homebuyer education

NeighborWorks® Dakota Home Resources

795 Main St. Deadwood, SD 57732
Phone: 605-578-1401
Contact: info@nwdhr.org
Website: www.neighborworksdhr.org
homebuyer education and housing counseling

Northeast SD Community Action Program dba GrowSD

104 Ash Street East
Sisseton, SD 57262
Phone: 605-698-7654 or 1-888-202-4855
Contact: info@growsd.org
Website: www.growsd.org
homebuyer education and housing counseling

Oglala Sioux Tribe Partnership for Housing, Inc.

PO Box 3001
4 Fraggle Rock Street
Pine Ridge, SD 57770
Phone: 605-867-1555
Website: www.ostpartnershipforhousing.com
homebuyer education

Sioux Empire Housing Partnership

200 North Phillips Ave., Suite 200
Sioux Falls, SD 57104
Phone: 605-339-0942
Contact: hbarron@siouxfalls.com; kanderson@siouxfalls.com
Website: www.siouxempirehousing.org
homebuyer education and housing counseling

Tatanka Funds

27565 Research Park Drive
Mission, SD 57555
Phone: 605-223-0070
Website: www.tatankfunds.org
homebuyer education

Thunder Valley CDC

PO Box 290
Porcupine, SD 57772
Phone: 605-455-2700
Website: www.thundervalley.org
homebuyer education