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Home Mortgage Loan FAQs

I want to purchase a home, how do I apply for a home mortgage loan through Grow South Dakota (GROW SD)?

GROW SD has an online portal to start the process https://growsd.force.com/growsdcft 

Click here for a step by step guide to begin the application process.   


How much of a home mortgage loan am I eligible for from GROW SD?

There are a number of factors that are affected by the amount you may qualify for. 

  • Items that are taken into consideration include, but are not limited to the applicants/borrowers income, assets, employment, credit history and monthly expenses. An overall risk assessment is compiled based on many different factors.  
  • Other items that are taken into consideration are the lenders mortgage terms of the potential loan, such as interest rate, amortization, total loan amount, property taxes and insurance.
  • GROW SD loan’s will not typically exceed $250,000.

How long does it take to be approved for a Direct loan?

Once GROW SD has received all information to make an eligibility determination, we will respond within 3 days. 


Do I need to have an appraisal completed on the home I would like to purchase?

Yes. Once the borrower has been determined eligible from GROW SD and a Purchase Agreement has been completed, GROW SD will order an appraisal.  An applicant/borrower/seller should not order the appraisal.

The borrower will be required to provide a deposit for the cost of the appraisal prior to GROW SD ordering the appraisal. 


Do I need to take a Home buyer education course?

Yes. You will need to complete an approved Homebuyer Education Course by an eligible organization.  Check with GROW SD first before beginning your class to ensure you are meeting any requirements.   

Fast Fact Image

The GROW South Dakota Organizations Have had a Remarkable Few Years!

NESDCAP, our founding agency, celebrated 54 years in 2020 and met various housing needs including completing 170 home improvement projects impacting more than 342 individuals and providing emergency financial assistance, including food and utilities assistance, to 649 individuals in 250 households.

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GROW South Dakota

GROW South Dakota
104 Ash Street East | Sisseton, SD  57262
Phone (605) 698-7654 | Fax (605) 698-3038 info@growsd.org