FIRST TIME HOME BUYER PROGRAMS SOUTH DAKOTA

FHA First Time Home Buyer Programs have been helping South Dakota residents since 1934 

 

FIRST TIME HOME BUYER PROGRAMS SOUTH DAKOTA

A knowledgeable & licensed South Dakota 'First Time Home Buyer Program' Specialist can offer you a better loan including:

  • Low down payments (if any)

  • 24 Hour Pre-Approval

  • Low closing costs

  • Easier credit qualifying

  • Access to many of the unique

    State Specific Federal Government Backed Programs that may be available to South Dakota First Time Buyers.

South Dakota First Time Home Buyer Loan

If you’re buying your first home, then this is the perfect place to start. And don't fear: We have the first time home buyer specialist that answer all the questions you want to ask, — and, those you haven't thought of yet.  home easier and less expensive than any other types of real estate mortgage home loan programs.

Buy a home in South Dakota with help from a Family Member

When buying a home, almost every lender will want to know where your down payment came from. If someone in your family is helping you with that down payment, it is called a Gift of Equity, a special FHA loan program.

South Dakota USDA Home Loan

If you live in a small town, rural area or farmlands situated in a location approved by USDA Rural Development, you may be able to purchase a home with up to 100% financing. The United States Department of Agriculture (USDA) were designed to encourage rural development, meaning city homes are excluded. United States Department of Agriculture (USDA) sets lending guidelines for the program, which is why it can feel confident in your home financing decisions with step-by-step guidance from an experienced USDA Mortgage Banker.

 

Buying a 'Fixer Upper' in South Dakota & Adding Additional Funds for Home Improvements

An FHA 203K Purchase and Rehab Loan can work in this situation. The 203K has many advantages. Put simply it is a mortgage insured by FHA that allows a home buyer to add rehab funds into a mortgage.

VA Veterans Home Loans in South Dakota

The VA Home Loan is a Federal Program designed for United States Armed Forces, Military Retiree, Veterans, National Guard and Reservists, as well as Spouses.

South Dakota Construction Home Loan

At last, a single loan that lets borrowers finance the construction of their home. You can even 'bundle the purchase of the land' land with your construction loan under what is called the 'One Time Close' loan. Guidelines for this program, can be found by clicking here: 'FHA Construction Loan Programs'  or here: 'VA Construction Loan Programs'

Buying a 2 Family or 3 Family Investment Property in South Dakota

You can buy from a duplex residence all the way up to a 4 unit home with a Government Backed FHA Loan , as long as the property is owner occupied. .

South Dakota FHA Home Loan

How it works:

 

√    Determine the type of FHA Government Loan that best fits your needs.

 

√       Complete an easy 2 minute application form.

 

√    We will forward your application to one and only one  FHA Approved Lender who can best help you based upon:

 

  • The type of loan you requested

  • Your down-payment (if purchase loan)

  • The location (State) your property is located

  • Your credit history

  • The best rate available for your loan

 

√    An FHA Loan Specialist will respond within 1 business day. They will explain what type of loan you are approved for, and the options available to you. 

 

√    Immediately that same day, the FHA Lender will overnight your pre-approval letter to you.

 

√    Review with no obligations your FHA Loan Pre-approval and locked rate. 

 

Note- It is very important that you keep this letter. It is your official pre-approval on bank letterhead with your 'locked rate', and if purchasing a house, it is equally important that you present this letter to the real estate agent to confirm your pre-qualification status.              

South Dakota FHA Lending Limits 2017

South Dakota Median Home Sale Price Price $178,000

 

County Name Single Duplex 3 Unit 4 Unit
AURORA $275,665 $352,950 $426,625 $530,150
BEADLE $275,665 $352,950 $426,625 $530,150
   HURON, SD
BENNETT $275,665 $352,950 $426,625 $530,150
BON HOMME $275,665 $352,950 $426,625 $530,150
   NON-METRO
BROOKINGS $275,665 $352,950 $426,625 $530,150
   BROOKINGS, SD
BROWN $275,665 $352,950 $426,625 $530,150
   ABERDEEN, SD
BRULE $275,665 $352,950 $426,625 $530,150
BUFFALO $275,665 $352,950 $426,625 $530,150
BUTTE $275,665 $352,950 $426,625 $530,150
CAMPBELL $275,665 $352,950 $426,625 $530,150
CHARLES MIX $275,665 $352,950 $426,625 $530,150
CLARK $275,665 $352,950 $426,625 $530,150
   NON-METRO
CLAY $275,665 $352,950 $426,625 $530,150
   VERMILLION, SD
CODINGTON $275,665 $352,950 $426,625 $530,150
   WATERTOWN, SD
CORSON $275,665 $352,950 $426,625 $530,150
CUSTER $275,665 $352,950 $426,625 $530,150
   RAPID CITY, SD
DAVISON $275,665 $352,950 $426,625 $530,150
   MITCHELL, SD
DAY $275,665 $352,950 $426,625 $530,150
DEUEL $275,665 $352,950 $426,625 $530,150
DEWEY $275,665 $352,950 $426,625 $530,150
   NON-METRO
DOUGLAS $275,665 $352,950 $426,625 $530,150
EDMUNDS $275,665 $352,950 $426,625 $530,150
   ABERDEEN, SD
FALL RIVER $275,665 $352,950 $426,625 $530,150
FAULK $275,665 $352,950 $426,625 $530,150
GRANT $275,665 $352,950 $426,625 $530,150
GREGORY $275,665 $352,950 $426,625 $530,150
HAAKON $275,665 $352,950 $426,625 $530,150
HAMLIN $275,665 $352,950 $426,625 $530,150
   NON-METRO
HAND $275,665 $352,950 $426,625 $530,150
HANSON $275,665 $352,950 $426,625 $530,150
   MITCHELL, SD
HARDING $275,665 $352,950 $426,625 $530,150
HUGHES $275,665 $352,950 $426,625 $530,150
   PIERRE, SD
HUTCHINSON $275,665 $352,950 $426,625 $530,150
HYDE $275,665 $352,950 $426,625 $530,150
JACKSON $275,665 $352,950 $426,625 $530,150
JERAULD $275,665 $352,950 $426,625 $530,150
   NON-METRO
JONES $275,665 $352,950 $426,625 $530,150
KINGSBURY $275,665 $352,950 $426,625 $530,150
LAKE $275,665 $352,950 $426,625 $530,150
LAWRENCE $275,665 $352,950 $426,625 $530,150
   SPEARFISH, SD
LINCOLN $275,665 $352,950 $426,625 $530,150
   SIOUX FALLS, SD
LYMAN $275,665 $352,950 $426,625 $530,150
MARSHALL $275,665 $352,950 $426,625 $530,150
MCCOOK $275,665 $352,950 $426,625 $530,150
   SIOUX FALLS, SD
MCPHERSON $275,665 $352,950 $426,625 $530,150
MEADE $275,665 $352,950 $426,625 $530,150
   RAPID CITY, SD
MELLETTE $275,665 $352,950 $426,625 $530,150
MINER $275,665 $352,950 $426,625 $530,150
MINNEHAHA $275,665 $352,950 $426,625 $530,150
   SIOUX FALLS, SD
MOODY $275,665 $352,950 $426,625 $530,150
OGLALA LAKOTA $275,665 $352,950 $426,625 $530,150
PENNINGTON $275,665 $352,950 $426,625 $530,150
   RAPID CITY, SD
PERKINS $275,665 $352,950 $426,625 $530,150
POTTER $275,665 $352,950 $426,625 $530,150
ROBERTS $275,665 $352,950 $426,625 $530,150
SANBORN $275,665 $352,950 $426,625 $530,150
SPINK $275,665 $352,950 $426,625 $530,150
STANLEY $275,665 $352,950 $426,625 $530,150
   PIERRE, SD
SULLY $275,665 $352,950 $426,625 $530,150
   PIERRE, SD
TODD $275,665 $352,950 $426,625 $530,150
   NON-METRO
TRIPP $275,665 $352,950 $426,625 $530,150
TURNER $275,665 $352,950 $426,625 $530,150
   SIOUX FALLS, SD
UNION $275,665 $352,950 $426,625 $530,150
   SIOUX CITY, IA-NE-SD
WALWORTH $275,665 $352,950 $426,625 $530,150
YANKTON $275,665 $352,950 $426,625 $530,150
   YANKTON, SD
ZIEBACH $275,665 $352,950 $426,625 $530,150