New Downpayment Assistance Program

Pierre, SD – June 5, 2009 – (RealEstateRama) — South Dakota Housing Development Authority (SDHDA) is pleased to announce a new program to assist with downpayment and closing costs.  The Advance Tax Credit (ATC) Loan Program allows the borrower(s) to utilize a portion of their First-time Homebuyer Tax Credit for these costs in conjunction with an SDHDA First-time Homebuyer loan.  The program allows borrower(s) access to their Federal IRS First-time Homebuyer Tax Credit at the closing table and prior to filing their 2009 IRS Tax Return.

The ATC Loan Program is available for First-time Homebuyers that close and take occupancy prior to December 1, 2009.

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The South Dakota Housing Development Authority (SDHDA) is an independent, quasi-public agency that finances and develops affordable housing opportunities for low and moderate-income residents throughout South Dakota. SDHDA is totally self-supporting and receives no tax money, appropriations or other funding from the State.

SDHDA does not discriminate against any person because of race, color, creed, religion, sex, disability, familial status or national origin. SDHDA is a proud partner of the State’s 2010 Initiative to “Brand and Develop South Dakota’s Quality of Life as the Best in America.”

Contact:

South Dakota Housing Development Authority
PO Box 1237
221 S. Central Ave.
Pierre, SD 57501

Toll Free: 800-540-4241
Local: 605-773-3181
Fax: 605-773-5154

Mark Lauseng
Executive Director
Phone: 605-773-3181

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