New program for grads homebuying assistance

South Dakota Gov. Dennis Daugaard announced recently that South Dakota Housing Development Authority (SDHDA) has launched a brand new program aimed at assisting postsecondary graduates in purchasing a first home in South Dakota.

The “Grants for Grads” program will launch Jan. 2, 2018, and will be open to first-time
homebuyers who:

• Meet certain income requirements
• Are purchasing a primary residence in-state
• Have not owned a home in the past three years
• Select a home with a purchase price of $250,200 or less
• Have earned a degree from an accredited postsecondary educational facility within the past 60 months.

“Under this program, graduates will have another incentive to live in South Dakota,” Gov. Dennis Daugaard said. “Getting started in life can be expensive and take some time, especially for those with student loans to repay. Grants for Grads will help those graduates afford their first homes as they begin their careers as a part of South Dakota’s workforce.”

SDHDA plans to offer this program for a limited time through participating lenders, with perbeneficiary assistance at five percent of the loan amount. In order to apply for the program, participants must contact a lender to set an appointment.

View “Grants for Graduates” participating lenders here: http://www.sdhda.org/homeownership/first-time-homebuyer/lender-list.html

Article Courtesy of the Faulk County Record.