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Are you looking at Rapid City homes for sale and have finally decided that it’s time to stop looking and buy?
If you are looking at purchasing your first home, there are many factors that go into determining how much you can afford. The best way to find out for sure is to meet with a qualified lender who can give you a better idea of what you may be able to purchase. If you would like, you can call me and I will gladly direct you to an experienced lender.
If you have owned a home previously and wish you were eligible for First Time Home Buyer Programs, you might be eligible. If you haven’t owned a home in the past three years, you may qualify for first time home buyer programs.
There are first-time home buyer programs available in South Dakota that are designed to make it easier to own a piece of the American dream.
South Dakota first-time home buyer programs have income requirement guidelines that vary, depending on the county that you are in.
More information on first time home buyer programs in South Dakota can be found at the South Dakota Housing Development Authority website. The website includes such information as the maximum priced home that you can purchase through the program as well as other possible restrictions—but it is a great program!
There are also some additional programs that can help first time home buyers, such as the Grow South Dakota Housing program. Grow South Dakota can offer down payment assistance for some home buyers. There are income guidelines and some restrictions but this is an excellent program that many people are not aware of.
As a result of some of these programs—if you are eligible—it may be possible to purchase a home with little to no money for a down payment.
There are also government-backed programs such as FHA or VA (for qualified military or veterans) that require little to no money down and have more flexibility when it comes to your credit score.
So don’t be thinking you need to have 20% to put down on a home. There are many different options available to get you into a home sooner.
If you need assistance in the process, reach out to me and I will gladly help you!
