First-time home buyers receive more loan options - KOTA Territory News

First-time home buyers receive more loan options

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First-time home buyers now have a new way to finance loans.

Governor Dennis Daugaard approved the South Dakota Housing Development Authority to fund home loans to South Dakotans. The program's $67 million budget will be loaned to about 600 people, targeting low- and middle-income residents.

The SDHDA says there were 95-percent more first-time homeowners this April compared to 2012, which the governor says shows that South Dakota's economy is recovering.

This is the first time the SDHDA has been approved for mortgage bonds since the recession in 2009.

 

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