---
title: The First Time Homebuyer's Guide to Rapid City
description: If you’re on the hunt for your first home in Rapid City, South Dakota Housing Development Authority (SDHDA) has options for your financing.
image: https://info.sdhda.org/hubfs/SDHDA_Blog_FirstTimeHomeBuyerGuideRapidCity.jpg
---
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[Home](https://sdhda.org/) [](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)
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- [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
# The First Time Homebuyer's Guide to Rapid City
If you’re on the hunt for your first home in Rapid City, South Dakota Housing Development Authority (SDHDA) has options for your financing. For a head-start on the housing search, here are a few tips for taking advantage of the SDHDA First-Time Homebuyer Program in the Rapid City area.
## Participating Lenders
Finding a lender who provides SDHDA’s First-Time Homebuyer Program loans is step one. There are [a variety of Rapid City financial institutions](http://www.sdhda.org/lender-list.html?searchword1=rapid+city&moduleId=144&Itemid=391) that work with SDHDA to offer these lending options, including:
| [BankWest, Inc.](https://www.bankwest-sd.com/) 605.399.2265 | [Black Hills Community Bank](https://bhcbank.com/) 605.343.2422 |
| --- | --- |
| [Dacotah Bank](http://www.dacotahbank.com/) 605.394.9000 | [First Interstate Bank](https://www.firstinterstatebank.com/) 605.348.3322 |
| [First National Bank](https://www.firstnationalbanks.com/) 605.399.0990 | [Gateway Mortgage Group](http://www.gatewayloan.com/branches/rapid-city-sd/) 605.646.2268 |
| [Great Western Bank](https://www.greatwesternbank.com/) 605.343.9230 | [Highmark Federal Credit Union](http://www.highmarkfcu.com/) 605.716.4444 |
| [Pioneer Bank & Trust](http://www.pioneerbankandtrust.com/) 605.341.2265 | [Premier Home/Rushmore/Advana Mortgage](https://rapidcity.premierhomemortgage.com/) 605.716.7373 |
| [U.S. Bank Home Mortgage](https://www.usbank.com/home-loans/mortgage/) 605.394.2034 | [Wells Fargo Home Mortgage](https://www.wellsfargo.com/mortgage/) 605.341.4000 |
## Agent Options
A great real estate agent can make all the difference in making your first-time homebuying experience a positive one. Those practicing realty in South Dakota **have to be licensed with the Department of Labor and Regulation.** With many agents from which to choose in the Rapid City area, double-check that your top picks for potential representatives are currently licensed. [Click here to search the real estate agent database.](https://sdrec.sd.gov/registration/licenseelist.aspx)
## Neighborhood Choices
Rapid City has no shortage of options when it comes to home square footage, cost and style. It’s a first-time homebuyer’s responsibility to pick the ideal fit. A lot can go into this decision, though, so it’s a good idea to get a grasp of what neighborhood makes the most sense for you and/or your family. Do your research – find out which areas of Rapid City are nearest schools and your workplace and which are safest and most cost-effective. **Here are just a few of the options at the highest and lowest ends:**
- **Northern Region**
- **Eastern Region**
- **Southern Region**
- **Southwestern Region**
- **Western Region**
These guidelines should help you kick off your first-time housing search in the Rapid City region – **keep them in mind before you embark on the journey of purchasing your first home in western South Dakota.**
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Topics: [Homeownership](https://info.sdhda.org/topic/homeownership)
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# 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)
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