Buying a Home - South Dakota mortgages, down payment assistance and first time home buyer grants for buying South Dakota real estate.

Research the available South Dakota mortgages and home loan programs for buying South Dakota real estate.

Bookmark this page for your home buying reference and email this page to the next person you know who will be buying South Dakota real estate. 

• Government grants for buying a home

• Down payment assistance 

• Bad credit loans for buying a home

• mortgages and home loans

• Mortgage Calculator
  
  
• Search South Dakota Real Estate Listings

Government grants for buying a home

Here are some links for government grants for buying a home in South Dakota.

South Dakota Housing Development Authority (SDHDA) - offers a First-time Homebuyer program, down payment assistance and an Employee Mortgage Assistance Program (605) 773-3181 http://www.sdhda.org

City of Sioux Falls Community Development - provides down payment assistance for homebuyers (605) 367-7125 http://www.siouxfalls.org/comdev/index.asp

Homes are Possible Inc. (HAPI) - a non-profit group of concerned citizens who are committed to empowering individuals, stabilizing families and revitalizing neighborhoods through a variety of economic and social initiatives

The purpose of HAPI is to facilitate low and moderate-income persons and families in securing and/or refurbishing good quality affordable housing. The following 8 counties are a part of HAPI: Brown; Day; Marshal; Roberts; Campbell; Edmunds; McPherson; and Walworth.

To find out more information about HAPI contact any home lending institution or realty agency in the above counties.

The Teton Coalition - advocates for affordable housing and partners with a number of organizations that assist individuals become homebuyers

For information about their programs contact the Teton Coalition at:
120 Knollwood
Rapid City, SD 55702
(605) 341-9939

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Down payment assistance 

Below are down payment assistance programs that may be used to buy a home in South Dakota.

Nehemiah - down payment assistance program for buying a home with no money down.

HART - down payment assistance program allows you to buy a home with no money down.

Neighborhood gold - this is another down payment assistance program that allows you to buy a home with no money down.

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Bad credit loans for buying a home or refinancing.

There are many mortgage lenders who specialized in bad credit loans for buying a home in South Dakota or refinancing. Use the link below to complete a form from our partner LendingTree and receive offers from lenders who maybe able assist you.

Bad Credit Mortgage Loans - these types of mortgages are for those individuals  with the following types of issues:

• bankruptcy in the last 2 years

• foreclosure in the last 3 years

• low credit scores below 620

(not sure what your credit score is, get a Free Credit Report)

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mortgages and home loans

These website can assist your with obtaining mortgages for buying a home in South Dakota.

FHA loans - government insured mortgages that allow you to buy a home with only 3% down payment.

VA loans - if you are a veteran, you may buy a home with no money down.

Conventional Loans - any mortgage loan that requires 5% down payment and is less than $417,000 for a single family home.

Jumbo loans - any mortgages where the loan amount is higher than $417,000 for a single family home.

Mortgages - this site has information regarding fannie mae and freddie mac conventional loans.

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Mortgage Calculator

Use this mortgage calculator to calculate the monthly mortgage payment based on the required loan amount, current mortgage rates, and loan term of various types of mortgages you research on this page.

Following are instructions to calculate a mortgage for buying a home:

1. Subtract your estimated down payment from the price of the home you wish to buy and enter the value in "Loan Amount" (Remember that if the down payment is less than 20% of the sale price you will have the added expense of Mortgage Insurance which is not figured into this calculation.)
   
2. Estimate Annual Property Tax and Homeowners Insurance and enter these values.
   
3. Each time you change a value hit "Calculate Now" to see what the effect is. 

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South Dakota Real Estate of Homes for Sale

Now that you understand the home buying process and have been pre-approved for a mortgage loan get started searching  South Dakota real estate of homes for sale.

Complete the form below for direct access to the following types of South Dakota real estate listings:

• South Dakota Real Estate Listings and MLS
• South Dakota HUD Homes
• South Dakota For Sale By Owner Homes
• South Dakota New Homes for Sale
• South Dakota Foreclosure Homes for Sale

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