--- title: SDHDA Announces New Options for First-Time and Repeat Homebuyers description: "SDHDA is now offering two new enhancements to its mortgage programs: elimination of an origination fee and additional downpayment assistance." image: https://info.sdhda.org/hubfs/19-SDHousing-0673-Website-Maintenance_v2.jpg --- [![South Dakota Housing](https://info.sdhda.org/hubfs/SDHDA_July2019/Images/hero-logo.png)](https://www.sdhda.org) - Programs - [Homeownership](https://www.sdhda.org/homeownership) - [First-Time Homebuyer](https://www.sdhda.org/homeownership/first-time-homebuyer) - [Repeat Homebuyer Program](https://www.sdhda.org//homeownership/repeat-homebuyer-program) - [Governor's House Program](https://www.sdhda.org//homeownership/governors-house-program) - [Home Improvement](https://www.sdhda.org/homeownership/home-improvement) - [Downpayment Assistance](https://www.sdhda.org/homeownership/downpayment-assistance) - [Tools](https://www.sdhda.org/homeownership/tools) - [My SDHDA Loan](https://www.sdhda.org/homeownership/my-sdhda-loan) - [Lenders](https://www.sdhda.org/homeownership/lenders) - [Realtors](https://www.sdhda.org/homeownership/realtors) - [Renting](https://www.sdhda.org/for-renters) - [Rental Assistance](https://www.sdhda.org/for-renters/rental-assistance) - [Rental Housing Search](https://www.sdhda.org/for-renters/rental-housing-search) - [Do I Qualify](https://www.sdhda.org/for-renters/do-i-qualify) - [Affordable Rental Housing Frequently Asked Questions](https://www.sdhda.org/for-renters/affordable-rental-housing-frequently-asked-questions) - [Fair Housing and Your Rights](https://www.sdhda.org/for-renters/fair-housing-and-your-rights) - [Tips For Renters](https://www.sdhda.org/for-renters/tips-for-renters) - [Legal Services of SD](https://www.sdhda.org/for-renters/discrimination-complaints) - [Property Management](https://www.sdhda.org/property-management/education-and-training) - [Education and Training](https://www.sdhda.org/property-management/education-and-training) - [Fair Housing and Legal](https://www.sdhda.org/property-management/fair-housing-and-legal) - [Property Management Resources](https://www.sdhda.org/property-management/management-resources) - [Program Compliance](https://www.sdhda.org/property-management/program-compliance) - [Social Programs](https://www.sdhda.org/social-programs/) - [Disaster Relief Funding](https://www.sdhda.org/social-programs/disaster-relief-funding) - [Security Deposit Assistance](https://www.sdhda.org/social-programs/security-deposit-assistance-housing-development) - [Homeowner Rehabilitation Program](https://www.sdhda.org/social-programs/homeowner-rehabilitation-program) - [Emergency Solutions Grants Program](https://www.sdhda.org/social-programs/emergency-solutions-grants-program) - [Paint-South Dakota](https://www.sdhda.org/social-programs/paint-south-dakota) - [Continuum Of Care](https://www.sdhda.org/social-programs/continuum-of-care) - [Section 811 PRA Program](https://www.sdhda.org/social-programs/section-811-pra-program) - About - [Contact Us](https://www.sdhda.org/about/contact-us) - [Agendas & Minutes](https://www.sdhda.org/about/agendas-minutes) - [Annual Conference](https://www.sdhda.org/about/annual-conference) - [Events](https://www.sdhda.org/about/events) - [Investors](https://www.sdhda.org/investors/liquidity-reports) - [Liquidity Reports](https://www.sdhda.org/investors/liquidity-reports) - [Disclosure Reports](https://www.sdhda.org/investors/disclosure-reports) - [Financial Reports](https://www.sdhda.org/investors/financial-reports) - [Annual Reports](https://www.sdhda.org/investors/annual-reports) - [Municipal Advisor Disclosure](https://www.sdhda.org/investors/municipal-advisor-disclosure) - [Blog](https://blog.sdhda.org/) - [Contact](https://www.sdhda.org/about/contact-us) - Search [Home](https://sdhda.org/) [![homepage icon](https://info.sdhda.org/hubfs/SDHDA_July2019/Fonts/house-icon-white.png)](https://sdhda.org) - [Homeownership](https://www.sdhda.org/homeownership/home-ownership) - [First-Time Homebuyer](https://www.sdhda.org/homeownership/first-time-homebuyer) - [Repeat Homebuyer Program](https://www.sdhda.org/homeownership/repeat-homebuyer-program) - [Governor's House Program](https://www.sdhda.org/homeownership/governors-house-program) - [Home Improvement](https://www.sdhda.org/homeownership/home-improvement) - [Downpayment Assistance](https://www.sdhda.org/homeownership/downpayment-assistance) - [Tools](https://www.sdhda.org/homeownership/tools) - [My SDHDA Loan](https://www.sdhda.org/homeownership/my-sdhda-loan) - [Lenders](https://www.sdhda.org/homeownership/lenders) - [Realtors](https://www.sdhda.org/homeownership/realtors) - [Renting](https://www.sdhda.org/renting/for-renters) - [Rental Assistance](https://www.sdhda.org/for-renters/rental-assistance) - [Rental Housing Search](https://www.sdhda.org/for-renters/rental-housing-search) - [Do I Qualify](https://www.sdhda.org/for-renters/do-i-qualify) - [Affordable Rental Housing Frequently Asked Questions](https://www.sdhda.org/for-renters/affordable-rental-housing-frequently-asked-questions) - [Fair Housing and Your Rights](https://www.sdhda.org/for-renters/fair-housing-and-your-rights) - [Tips For Renters](https://www.sdhda.org/for-renters/tips-for-renters) - [Legal Services of SD](https://www.sdhda.org/for-renters/discrimination-complaints) - [Housing Development](https://www.sdhda.org/housing-development/housing-development) - [Housing Development Resources](https://www.sdhda.org/housing-development/housing-development-resources) - [HOME Program](https://www.sdhda.org/housing-development/home-program) - [Housing Tax Credits](https://www.sdhda.org/housing-development/housing-tax-credits) - [Housing Opportunity Fund](https://www.sdhda.org/housing-development/housing-opportunity-fund) - [Housing Trust Fund](https://www.sdhda.org/housing-development/housing-trust-fund) - [Housing Development Programs](https://www.sdhda.org/housing-development/housing-development-programs) - [Plans, Forms and Resources](https://www.sdhda.org/housing-development/plans-forms-and-resources) - [Application Submission](https://www.sdhda.org/housing-development/application-submission) - [Property Management](https://www.sdhda.org/property-management/education-and-training) - [Education and Training](https://www.sdhda.org/property-management/education-and-training) - [Fair Housing and Legal](https://www.sdhda.org/property-management/fair-housing-and-legal) - [Property Management Resources](https://www.sdhda.org/property-management/management-resources) - [Program Compliance](https://www.sdhda.org/property-management/program-compliance) - [Business Partners](https://www.sdhda.org/property-management/business-partners) - [Social Programs](https://www.sdhda.org/social-programs/paint-south-dakota) - [Paint-South Dakota](https://www.sdhda.org/social-programs/paint-south-dakota) - [Continuum Of Care](https://www.sdhda.org/social-programs/continuum-of-care) - [Emergency Solutions Grants Program](https://www.sdhda.org/social-programs/emergency-solutions-grants-program) - [Section 811 PRA Program](https://www.sdhda.org/social-programs/section-811-pra-program) - [About](https://www.sdhda.org/about/about-sdhda-south-dakota-housing-development-authority) - [About SDHDA](https://www.sdhda.org/about/about-sdhda-south-dakota-housing-development-authority) - [Disclosure Reports](https://www.sdhda.org/about/disclosure-reports) - [Investors](https://www.sdhda.org/investors/liquidity-reports) - [Liquidity Reports](https://www.sdhda.org/investors/liquidity-reports) - [Financial Reports](https://www.sdhda.org/investors/financial-reports) - [Annual Reports](https://www.sdhda.org/investors/annual-reports) - [Municipal Advisor Disclosure](https://www.sdhda.org/investors/municipal-advisor-disclosure) Your source for expert information on housing in South Dakota # SDHDA Announces New Options for First-Time and Repeat Homebuyers ![19-SDHousing-0673-Website-Maintenance_v2](https://info.sdhda.org/hs-fs/hubfs/19-SDHousing-0673-Website-Maintenance_v2.jpg?width=750&name=19-SDHousing-0673-Website-Maintenance_v2.jpg) **SDHDA Announces New Options for First-Time and Repeat Homebuyers** Pierre, SD – South Dakota Housing Development Authority (SDHDA) is announcing two exciting changes that will provide both first-time and repeat homebuyers with additional opportunities to achieve their dream of buying a new home. It is currently a seller’s market in many South Dakota communities, as low inventory is causing housing prices to skyrocket. However, interest rates remain at an all-time low, making it a great time to buy for many. In an effort to provide additional assistance to buyers, SDHDA is now offering two new enhancements to its mortgage programs: elimination of an origination fee and additional downpayment assistance. Effective with all loan commitments dated on or after May 14, 2021, the 1% SDHDA origination fee will be waived. For example, on a $200,000 loan, an origination fee of 1% would be $2,000. This change will allow borrowers to pay less in upfront closing costs. In addition, SDHDA will be providing borrowers an additional option for the Fixed Rate Plus loan. Currently, borrowers are eligible for a loan that equals 3% of the first mortgage amount for downpayment and closing costs assistance. After May 14, 2021, a loan option that equals 5% of the mortgage will be available, in addition to the 3% option. Some borrowers may need the additional funds to fill the gap created by the seller’s market. The elimination of the 1% origination fee and the additional Fixed Rate Plus loan option are intended to make it easier for borrowers to come up with the required downpayment and closing costs. Borrowers must meet certain qualification requirements, including income and purchase price restrictions. The income limits vary by county and can be found on [SDHDA’s website](http://www.sdhda.org/). Homebuyers interested in assistance can begin the application process by visiting a lender offering SDHDA homebuyer products. A list of participating lenders can be found on [sdhda.org](http://www.sdhda.org/) or by calling 800.540.4241. -30- **About South Dakota Housing Development Authority:** South Dakota Housing Development Authority (SDHDA) was created by the South Dakota legislature in 1973 with a stated mission to provide decent, safe and affordable housing to low- and moderate-income South Dakotans. SDHDA is a self-supporting, nonprofit entity. SDHDA utilizes housing bonds, tax credits and other federal and state resources to fund housing programs that provide mortgage and downpayment assistance, housing construction and rehabilitation, homelessness prevention and rental assistance. SDHDA does not discriminate against any person because of race, color, creed, religion, sex, disability, familial status or national origin. For more information, visit [www.sdhda.org](http://www.sdhda.org/) *The South Dakota Housing Development Authority…**Building A Better Quality of Life**.* Topics: [Homeownership](https://info.sdhda.org/topic/homeownership), [Latest News](https://info.sdhda.org/topic/latest-news), [Lending](https://info.sdhda.org/topic/lending) - [Tweet](https://twitter.com/share) ### Subscribe to Our Housing Newsletter ### Posts by Topic - [Homeownership (120)](https://info.sdhda.org/topic/homeownership) - [Latest News (74)](https://info.sdhda.org/topic/latest-news) - [Renting (45)](https://info.sdhda.org/topic/renting) - [Property Development (22)](https://info.sdhda.org/topic/property-development) - [News (18)](https://info.sdhda.org/topic/news) ### Recent Posts [![Free Home Buyers Guide Download](https://no-cache.hubspot.com/cta/default/1744228/3628c32d-c191-4069-a4f1-d2ecc1411498.png)](https://cta-redirect.hubspot.com/cta/redirect/1744228/3628c32d-c191-4069-a4f1-d2ecc1411498) - Main Menu - [About](https://www.sdhda.org/about/about-sdhda-south-dakota-housing-development-authority) - [Homeownership](https://www.sdhda.org/homeownership) - [Housing Development](https://www.sdhda.org/housing-development) - [Investors](https://www.sdhda.org/investors/) - [Lender List](https://www.sdhda.org/homeownership/first-time-homebuyer/first-time-homebuyer-participating-lender-list) - [Property Management](https://www.sdhda.org/property-management) - [Renting](https://www.sdhda.org/for-renters) - [Social Programs](https://www.sdhda.org/social-programs) - [Blog](http://blog.sdhda.org/) - Resource Links - [sdhousingsearch.com](http://sdhousingsearch.com/) - [Governor’s House](https://www.sdhda.org/homeownership/governors-house-program) - [SD HERO - Homebuyer Education](http://sdhomebuyered.org/) - [Housing for the Homeless](http://www.housingforthehomeless.org/) # Contact [P.O. Box 1237, 3060 East Elizabeth Street, Pierre, SD 57501](https://goo.gl/maps/qaN44UEeRXn) Phone: [605-773-3181](tel:6057733181) Fax: [605-773-5154](fax:+605.773.5154) [info@sdhda.org](mailto:info@sdhda.org) © 2018 All rights reserved. [![Image for Epicosity logo](https://info.sdhda.org/hubfs/SDHDA_July2019/Fonts/Icon-Epic-White.png)](https://epicosity.com/)