New Housing Program Benefits South Dakota Graduates
You may say to yourself after reading this "where was this when I was that age!"
The South Dakota Housing Development Authority Grants for Grads program is aimed to assist recent graduates in purchasing their first home in South Dakota.
In the first three months of the program’s existence, 97 new homeowners have taken advantage of the program, a result that the Governor has touted as highly encouraging.
“We’re thrilled with the initial response and look forward to more recent graduates choosing to stay in the state or move here with this program. There are so many reasons to settle down in South Dakota, and receiving support for your dream home buying experience is just one of the many.” ~South Dakota Governor Dennis Daugaard
The Grants for Grads program launched at the beginning of 2018 and is open to first-time home buyers. Each applicant must adhere to a set of guidelines:
- Meet certain income requirements
- Are purchasing a primary residence in South Dakota
- Have not owned a home in the past three years
- Select a home with a purchase price of $250,200 or less
- Have earned an accredited associate’s, bachelor’s, master’s or doctorate degree within the past 60 months.
Grants for Grads is available for a limited time through participating lenders, with per-beneficiary assistance at five percent of the loan amount. In order to apply for the program, participants must contact a lender to schedule an appointment.