Dreaming of Buying a Home? We Offer Down Payment Assistance!

For over 40 years, GROW South Dakota has been a key player in promoting homeownership throughout the state.

But did you know that as a statewide lender, we can also provide new and potential residents with down payment assistance?

Down Payment Assistance in South Dakota
We understand that saving for a down payment can feel impossible, especially for families and individuals with limited resources.

That’s why our assistance focuses on those who need it most, offering Down Payment Assistance (DPA) for income-qualified households purchasing homes in rural South Dakota communities.
How does the Down Payment Assistance program work?
Here’s how the DPA program works: Most assistance ranges from $5,000 to $7,500, provided as a 0% interest, deferred payment, ‘silent’ second mortgage for 30 years. Translation? No monthly payments. Just support when you need it most.

Repayment of the DPA loan is due when you refinance, sell, move out, or when your first mortgage reaches maturity.
Do I have to take a Homebuyer Education Course first?
Yes. Before securing the keys to your home ownership dream, you’ll need to complete an approved Homebuyer Education Course (HBE). Perfect for learning the ropes from budgeting to closing day.

You can contact GROW SD to sign up for an HBE course either online or in-person.
How long does it take to be approved for Down Payment Assistance?
Once your completed application is received, GROW South Dakota will respond within 3 days to make an eligibility determination.

After making that determination, we will need at a minimum 14 calendar days to provide funding for closing.
How do I apply for Down Payment Assistance?
GROW SD has an online portal to start the process, which you can access by clicking here.

Are you ready to pursue your dream of homeownership in South Dakota? Contact us for more details about our Down Payment Assistance program.