First-Time Home Buyer Loans in South Dakota
If you’re a South Dakota first-time home buyer you may qualify to utilize the $29,000 WISH Grant.
Not every first-time buyers has saved enough for 20% down. The good news is that you don’t need that much.
City of Sioux Falls Public Safety Down Payment Assistance
Providing Home Assistance for Public Safety
The Public Safety Down Payment Assistance program bolsters home ownership opportunities for police officers, firefighters, and other public safety employees.
This program is also designed to stabilize and promote safety in at-risk neighborhoods, by encouraging those with law enforcement and fire rescue jobs to own and live in Sioux Falls.
Assistance Details
Each applicant can receive up to $20,000—or 20 percent of the purchase price (whichever is less)—toward the purchasing of a home.
Program funds may be used for down payment and/or closing costs and prepaid items. Prepaid items may include but are not limited to:
- Upfront mortgage insurance and mortgage insurance reserves deposited with the lender as required by the first mortgage provider.
- Property taxes deposited with the lender as required by the first mortgage provider.
$29,000 WISH Homeownership Grant
2023 WISH GUIDELINES
- Must be a First Time Home Buyer
- 4:1 Match Up to $29,000
- Contribution can come from gift funds or your bank account
- Available for Conventional, VA, and FHA financing
- Financing Borrower must complete certified First Time Home Buyer counseling class (certificate required) WISH Enrollment
- Refined Lending Pre-Approval is valid for 12 months while you shop for your home.
All programs subject to change at anytime without notice. Not a commitment to lend. Client must qualify for program with Refined Lending and the assistance or grant program selected.
