South Dakota launches down payment help for first-time buyers

Summarised from 2 outlets · Updated 14 Oct, 00:02 · Archive

South Dakota is launching a programme called Give Me Five to help first-time homebuyers with down payment assistance equal to five per cent of their mortgage.

South Dakota Housing is launching a new programme called Give Me Five to help first-time homebuyers. Eligible buyers can receive down payment assistance equal to five per cent of their mortgage.

The loan comes with no monthly payments, and can be forgiven after five years. The programme starts on 2 November and applies to homes costing $410,000 or less.

Governor Larry Rhoden said that buying a home is often a big part of building a strong future. Chas Olson, South Dakota Housing's executive director, described the programme as 'a valuable tool in helping' first-time buyers 'overcome affordability barriers and achieve homeownership'. The state is directing buyers to participating lenders for more information.

How it is being reported

• South Dakota launches program to help first-time homebuyersThe state is launching a new program called “Give Me Five,” which offers eligible first-time buyers down payment assistance equal to five percent of their mortgage.Dakotanewsnow · 13 Oct, 23:29
• SD Housing to launch new program for first time buyersSIOUX FALLS, S.D. (KELO) -- South Dakota Housing (SDH) is launching a program to help first-time homebuyers receive a 5% boost toward down payment assistance for their first home, according to a news release. The program is called “Give Me Five". Eligible first-time buyers can receive a 5% boost toward down payment assistance for their [...]Keloland · 13 Oct, 20:10

In this story: South Dakota Housing · South Dakota · Governor Larry Rhoden · Chas Olson

This summary was written by AI from the headlines and standfirsts above, and states as fact only what at least two outlets report. How we use AI · Report a problem