Financing Options
Owning a Nielson home may be closer than you think. Here’s a look at programs and loan options that can help with your down payment, closing costs or monthly payment.
We build homes. We aren’t lenders, so we can’t tell you which option is right for you. What we can do is make sure you know what’s out there.
Many buyers qualify for more help than they expect, and some programs can be used together. Look through the options below, then talk with a lender about what fits your situation. Not sure where to start? Our Home Concierge team can point you in the right direction.
Talk to Our Home Concierge Team
Programs from Nielson
These are programs we offer on our own homes.
Rate Relief
On eligible homes, we temporarily buy down your interest rate so your monthly payment starts lower during your first years of homeownership. Choose a 2-1 buydown (lower rate for two years) or a 3-2-1 buydown (lower rate for three years). Your payment then steps up gradually to the full payment at your note rate.
Rate Relief is offered with Plains Commerce Bank. Buyers must qualify at the full payment at the note rate. Rate Relief isn’t available to first-time homebuyers. Buying your first home? See the state programs below.
Community Partner Programs
We give back to the people who serve our communities. Qualifying buyers receive $15,000 toward the price of their Nielson home or toward upgrades like blinds or appliances.
- Hometown Heroes: firefighters, police officers, EMS and 911 dispatchers
- Military and Veterans: service members and veterans
- School Educators: anyone who teaches or works in a school district where Nielson builds homes
South Dakota Housing Programs
South Dakota Housing (SD Housing) is the state’s housing finance agency. Its programs run through participating lenders, and income and purchase price limits apply.
Give Me five (new, limited time)
Starting Nov. 2, 2026, eligible buyers can receive down payment assistance equal to 5% of their mortgage. There are no monthly payments on the assistance, and it’s forgiven after five years if you stay in the home and meet program requirements. To qualify, you can’t have owned a home in the past three years.
first time homebuyer program
Low fixed-rate mortgages for buyers who haven’t owned a home in the past three years.
Downpayment assistance (fixed rate plus)
Pairs a fixed-rate mortgage with assistance equal to 3% or 5% of the loan amount for your down payment and closing costs. The assistance is a 0% interest second mortgage with no payments until you sell the home or pay off your first mortgage.
repeat homebuyer program
Already own a home? SD Housing also offers loans for repeat buyers, with fixed rates and help with down payment and closing costs.
Common Loan Types
Most buyers use one of these loan types. Your lender can help you compare them.
USDA Rural Development Loans
For homes in eligible rural areas, with income limits. Down payment requirements are often lower than other loans. Eligibility depends on the home’s address, so check the USDA eligibility map or ask your lender.
Let’s Find Your Path Home
You don’t have to figure this out alone. Our Home Concierge team can walk you through our homes and programs and connect you with lenders who know these options well.
Talk to our HOME CONCIERGE Team call (605)767-3500Nielson Construction is not a lender and does not provide financial advice. Program details, eligibility and availability are set by each program and may change without notice. Talk with a licensed lender to see what you qualify for. Equal Housing Opportunity.