The Grants for Grads homeownership program provides five percent of the loan amount as a grant to be used for downpayment and/or closing cost assistance when recent graduates wish to purchase their first home in South Dakota.

Eligibility

• You have an income at or below prescribed South Dakota Housing Income Limits.
• The home you are wanting to purchase will be your principle residence and in South Dakota
• You are a first-time homebuyer, meaning you have not owned a home in the past three years.
• You are wanting to purchase a house with a purchase price that is less than $385,000.
• You are a recent graduate, meaning you have earned a degree from an accredited postsecondary educational facility recognized by the U.S. Department of Education within the last 60 months.