Buying a first home can feel out of reach for many individuals and families, especially when it comes to saving for a down payment. A new South Dakota Housing (SDH) initiative is designed to help eligible homebuyers overcome that hurdle and move closer to homeownership.

Beginning November 2, 2026, the Give Me Five program will offer qualified first-time homebuyers down payment assistance equal to 5% of their first mortgage amount. The assistance is provided as a second mortgage with no monthly payments required. If the homeowner continues to occupy the property as their primary residence and meets all program requirements, the balance is forgiven after five years.

Who May Qualify?

Potential participants must:

• Meet South Dakota Housing's income requirements for first-time homebuyers
• Purchase a primary residence located in South Dakota
• Have not owned a home within the previous three years
• Purchase a home priced at $410,000 or less

Program Highlights

• Down payment assistance equal to 5% of the first mortgage amount
• No monthly payments on the assistance loan
• Forgivable after five years when program conditions are satisfied

Ready to Learn More?

As a participating lender, Plains Commerce Bank can help eligible homebuyers explore the Give Me Five program and determine whether it fits their homeownership goals. Our mortgage team can walk you through the qualification requirements, discuss financing options, and guide you through the application process.

The Give Me Five program will be available for a limited time beginning November 2, 2026. If you're thinking about purchasing your first home in South Dakota, now is a great time to start the conversation.

Contact a Plains Commerce Bank mortgage lender today or visit South Dakota Housing's participating lender directory to learn more.

About South Dakota Housing
South Dakota Housing was created by the South Dakota Legislature in 1973 with a stated mission to provide opportunities for quality, affordable housing for South Dakotans. SD Housing is a self-supporting, nonprofit entity known for their commitment for providing innovative financing solutions to create and preserve affordable housing. They utilize housing bonds, tax credits, and other federal and state resources to fund housing programs which provide mortgage and downpayment assistance, housing construction and rehabilitation, homelessness prevention, rental assistance, and educational opportunities.