Dreaming of buying a home? Your dream doesn’t need to be impossible. There are resources available that can help qualified homebuyers with down payments, closing costs and more.

Find Out If You Qualify.

There are a variety of grant options available to homebuyers. Some grants are specifically for recent college graduates, some are for first-time homebuyers and some even favor military families, veterans, law enforcement, school teachers, firefighters and EMTs.

Unfortunately, most people are not aware of thousands of dollars that may be available to them because they how don't know to apply for these grants.

We’re here to help. Our team has compiled an overview of some home loan grant programs available to help as closing cost/ down payment assistance. Additionally, we always welcome you to reach out to a local mortgage banker to discuss which grant programs may be applicable to you.

South Dakota Housing Downpayment Assistance

When you qualify for the South Dakota Housing Development Authority's Fixed Rate Plus loan, you may be able to get up to 3% as a gift to help with the costs of your mortgage. The gift never has to be repaid, though the program does carry a slightly higher interest rate.

SDHDA's Tax Credit (MCC)

This program reduces the amount of federal income tax qualified applicants pay, leaving you with more disposable income. With SDHDA's Tax Credit (MCC), a percentage of your mortgage interest can be used as a dollar-for-dollar reduction in your tax bill and the remaining interest paid is still eligible for the home mortgage interest deduction.*

Dakota Dream Savings Fund

GROW South Dakota can match individual savings to purchase your first home. For each dollar you save (up to $2,000), this program will match with an additional three dollars! If eligible, you can join the program and have a total of $8,000 to use toward the purchase of your first home.

Grants for Grads

The Grants for Grads homeownership program provides 5% of the loan amount as a grant. This can be used for down payment or closing cost assistance when recent graduates purchase their first home in South Dakota. If you have graduated from an accredited postsecondary school in the last 5 years, this program may be a great fit for you.


Qualifying first-time homebuyers may receive up to $2,500 to put towards a down payment, closing costs, or any other part of the home buying process. As members of the Federal Home Loan Bank (FHLB) of Des Moines, Plains Commerce Bank has received $100,000 to help potential homeowners purchase their homes and keep our local affordable housing market strong. Home$tart terms & conditions.

Project Reinvest

With over $2 million in grant funds available across South Dakota, this program may be your smartest path to homeownership. These funds will be used to support down payment assistance for low- and moderate-income South Dakotans in the form of deferred second mortgages. South Dakota Grow will be awarding 200 loans in the amount of $10,500 each during the two-year grant period to income eligible homebuyers.

Learn More

We'll use our expertise to help you fulfill your dream of homeownership. Our mortgage bankers devote their time to supporting you, your community and your future home.

Connect with a mortgage banker today about how these grant options may benefit you, and get one step closer to owning the home of your dreams.

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*Please consult with your tax advisor regarding your tax eligibility.

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