---
title: 4 Lender Benefits of Offering the First-Time Homebuyer Program
description: What benefits can participating in the South Dakota Housing Development Authority (SDHDA) First-Time Homebuyer Program truly provide a lender?
image: https://info.sdhda.org/hubfs/SDHDA_Blog_4LenderBenefitsFirstTimeHomebuyerProgram_750x375.jpg
---
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# 4 Lender Benefits of Offering the First-Time Homebuyer Program
What’s the importance of attracting first-time homebuyers to your bank, credit union or financial institution? What benefits can participating in the South Dakota Housing Development Authority (SDHDA) First-Time Homebuyer Program truly provide a lender?
**There’s more than one reason to become a participating lender—here are a few of them.**
## Diversity of offerings
The products and services you offer your financial customers as a lender can be a big factor in their decision-making process on selecting a resource. Having multiple types of home loans from which to choose will attract more customers than limiting your offerings to only one or two options. Keep your menu diverse—enjoy a more robust customer base.
## Positive perception
Giving a chance on first-time homebuyers may not be your priority when it comes to mortgage lending, when there are high rollers such as commercial real estate and high-end residential properties at hand. But the positive public perception your financial institution will gain from offering home loan opportunities to those most in need of them will resonate across your business—plus, when these homeowners look to upgrade or buy a new car or open a new retirement plan, they’ll be far more apt to look to the lender who took a chance on them way back when.
## First dibs
One key benefit of the SDHDA First-Time Homebuyer Program is that you’ll be included on the approved lenders list on the SDHDA website. This means that when a South Dakotan is in the market for a home loan, you’ll be one of the first names they see on their search for a lender. It’s a nice “set it and forget it” lead-generation tool that simply sits there and collects new potential lenders.
## Product exclusivity
Being a participating lender with SDHDA provides lenders with access to products that are available exclusively to eligible housing finance agencies and their approved lenders. Products include HFA Preferred™ mortgages, downpayment-assistance mortgages and mortgage credit certificates, which allow a portion of the homeowner’s mortgage interest to be used as a federal income tax credit.
**In 2016, participating lenders financed 2,220 loans valued at $304 million with the help of SDHDA products. What’s your reason?**
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