GROW SD Offers Up to $10,000 in Down Payment /Closing Cost for Home Loans
Wednesday, March 01, 2017
GROW South Dakota, the statewide community and economic development nonprofit, can offer income-qualified homebuyers financing to cover down payment and closing costs when purchasing a home. Potential home owners may be eligible for a deferred loan of up to $10,000. GROW SD has provided more than $650,000 in down payment and closing cost assistance to nearly 200 South Dakota home buyers in the past five years.
The funding program recognizes that many people have the income necessary to make monthly loan payments but are not able to save money for a down payment or closing costs. The program provides support in the form of a zero-interest deferred mortgage, which partners with a first mortgage lender to fund the purchase. The down payment/closing cost program application can be found on www.growsd.org. Interested borrowers may also contact (605) 698-7654. GROW South Dakota is an Equal Opportunity Organization.
Category: GROW SD