GOVERNOR HOUSE PROGRAM
HOME BUYER'S RESPONSIBILITIES:
Provide the lot
Purchase the building permit and/or other permits
Provide the foundation
Utility hookups and fees
Floor coverings and appliances
*SDHDA reserves the right to reject any proposed purchase if SDHDA determines, in its sole discretion, that the proposed purchase does not further the goals of the Governor's House Program or SDHDA's goals and purposes. SDHDA also reserves the right to impose additional qualifications and restrictions under the Governor's House Program or with respect to any purchase under the Program if SDHDA determines, in its sole discretion, that such qualifications and restrictions are necessary to protect the integrity of the Program or the interests of homebuyers.
SOUTH DAKOTA HOUSING PROGRAMS:
First-time Homebuyer Program
Providing low interest rate mortgage loans to qualified first-time homebuyers, includes the current income and purchase price guidelines.
Employer Mortgage Assistance Program (EMAP)
A partnership loan program with South Dakota employers to provide Human Resource benefits in support of economic development, employee attraction, and employee retention.
Loan Assistance Program (LAP)
Providing closing cost, down payment assistance, and gap financing for qualified homebuyers.
Community Home Improvement Program (CHIP)
Loans to provide reduced rate financing to low and moderate income homeowners for the repair/renovation of their homes.
FEDERAL HOUSING PROGRAMS:
USDA provides direct loans and grants to credit worthy residents who would otherwise be unable to obtain financing for a family home. Guaranteed loans are made by commercial lenders for single family housing. Direct and guaranteed loans are made to provide multi-family housing or apartments for low-income rural residents.
Programs provided include the following:
Guaranteed Rural Housing Loans
Home Ownership Loans
Section 504 Rural Home Repair Loans and Grants
Rural Rental Housing Loans
Section 538 Rural Rental Housing Guaranteed Loans
Rural Housing Site Loans
Self Help Housing Loans
Technical Assistance for Self-Help Housing
Housing Preservation Grants
Farm Labor Housing
Equal Opportunity for USDA Rural Development Loan and Grant Recipients