---
title: The First-Time Homebuyer's Guide to Watertown
description: Seeking a great place to live in Watertown? If you're a first-time homebuyer, SDHDA can help you finance your first home in South Dakota's fifth-largest city.
image: https://info.sdhda.org/hubfs/SDHDA_Blog_Watertown_750x375.jpg
---
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- [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)
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- [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)
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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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- [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
# The First-Time Homebuyer's Guide to Watertown
In search of a new place to call home in Watertown, South Dakota? South Dakota Housing Development Authority (SDHDA) has programs for homebuyers who are purchasing for the first time in South Dakota's fifth-largest city. The SDHDA First-Time Homebuyer program makes the process much simpler and more manageable.
**Check out our first-time homebuying guide to Watertown.**
## Participating Lenders
A preapproval is a great way to kick off your homebuying journey—[the Watertown area](http://www.sdhda.org/lender-list.html?searchword1=watertown&moduleId=144&Itemid=391) includes several options for securing a First-Time Homebuyer Loan. Check out these potential lenders who offer SDHDA programs:
| [CU Mortgage Direct, LLC](http://www.cumortgagedirect.com/) 605.882.2357 | [Dacotah Bank](http://www.dacotahbank.com/locations/watertown) 605.886.0645 |
| --- | --- |
| [Fairway Independent Mortgage Corporation](https://www.fairwayindependentmc.com/locations/south-dakota/watertown-3956) 605.988.8830 | [First Bank and Trust](https://www.bankeasy.com/locations-atms/watertown-sd/) 605.882.8320 |
| [First Premier Bank](https://www.firstpremier.com/) 605.882.2300 | [Great Western Bank](https://www.greatwesternbank.com/locations/sd/watertown/main/) 605.886.8401 |
| [Plains Commerce Bank](https://www.plainscommerce.com/) 605.886.6966 | [Reliabank](https://www.reliabank.com/) 605.886.6000 |
| [Wells Fargo Home Mortgage](https://www.wellsfargo.com/locator/bank/1225__9TH__AVE__SE_WATERTOWN_SD_57201/) 605.886.8466 | |
## Agent Options
Having a knowledgeable, capable real estate agent can be a very powerful tool. [Your real estate agent selection is important](http://blog.sdhda.org/how-to-find-a-real-estate-agent-3-tips-to-keep-in-mind) because he or she can bring expertise to the table that assists you in locating your ideal home at the best possible price. In addition, active agents statewide are required to have a Department of Labor and Regulation license. Considering a potential agent in your area? [See whether he or she is up to date on credentials.](https://sdrec.sd.gov/registration/licenseelist.aspx)
## Neighborhood Choices
Watertown has no shortage of desirable neighborhoods from which to choose—but what are your biggest priorities when it comes to choosing a location? Whether you value proximity to shopping or nearby college living or quieter, rural-adjacent living, you can find a spot in or around the city that's ideal for your must-haves list. **Check out these options:**
- **Southern Region**
- **Central Region**
- **East Central Region**
- **Northwestern Region**
- **Northeastern Region**
- Median Home Price: $219,665
- Area Schools: Watertown Middle, Lincoln Elementary
- Area Amenities: Highland Park, Prairie Lakes Wellness Center
Whatever you're after, there's something for everyone in Watertown. Research what's most important to you, and you'll get a better idea of where to start looking. **When the time comes for mortgage options, SDHDA is here to help!**
**[](https://cta-redirect.hubspot.com/cta/redirect/1744228/96face06-9e8b-428e-9650-4e34dd78e135)**
**Source: NeighborhoodScout.com**
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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