Four Bands Community Fund Home Mortgage and Section 502 Loan Program
Four Bands Community Fund Home Mortgage and Section 502 Loan Program is a first mortgage for homebuyers in Eagle Butte, South Dakota, administered by Four Bands Community Fund, Inc.
The program asks for
- The home is occupied as a primary residence
- Loan term: Section 502: up to 33 years. Home Mortgage Loan: up to 30 years.. Consumer loan program available only to enrolled tribal members and permanent residents of the Cheyenne River Sioux Reservation; financial literacy course and personal budget may be required. Section 502 income limits: $66,400 (1-4 person), $87,650 (5-8 person). Primarily a mortgage CDFI, not a standalone DPA grant; partners with SDNHOC for down payment assistance.
- A home in Dewey County
It doesn’t cover
- Households above $66,400
- Homes outside Dewey County
These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.
Income limit
$66,400 household income limit, as the program publishes it
The program states this limit itself. Its official site says how household size changes it.
Where it applies
Dewey County’s homesDewey County’s homes, and the ones this program accepts
- 75.6% single-familysingle-family
- 2.5% townhousetownhouse
- 3% 2–4 units2–4 units
- 5.1% 5+ unitscondo & apartment buildings (5+ units)
- 13.9% mobile & othermobile home & other
A tick marks a kind of home the program’s record lists. The agency confirms it for the home you choose.
$69,600
Dewey County median home value
54.8%
built before 1980
U.S. Census Bureau, ACS 2024 5-year. More about buying in Dewey County
How to apply
How to applyTwo steps, in this order
Contact Four Bands Community Fund, Inc. to reserve funds
Funds are reserved with the provider and are subject to availability.
Work with a lender who handles the program
Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.
Questions about this program
What is Four Bands Community Fund Home Mortgage and Section 502 Loan Program?
Four Bands Community Fund Home Mortgage and Section 502 Loan Program is a first mortgage for homebuyers in Eagle Butte, South Dakota, administered by Four Bands Community Fund, Inc. Four Bands Community Fund is a certified Native CDFI in Eagle Butte serving the Cheyenne River Sioux Reservation (Dewey and Ziebach Counties). It offers mortgage products including a USDA Section 502 relending mortgage for low-income borrowers and a Home Mortgage Loan to build or purchase a home on or off trust land. Homebuyers may complete a financial literacy course and develop a personal budget. Pairs with SDNHOC down payment assistance. Section 502 relending mortgage (low-income, up to 33-year term). Home Mortgage Loan (purchase/build on or off trust land, up to 30-year term). Construction and renovation loans also offered.
Do you have to pay it back?
Four Bands Community Fund Home Mortgage and Section 502 Loan Program is a first mortgage and is repaid under the terms set by Four Bands Community Fund, Inc.. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.
Who qualifies?
Four Bands Community Fund Home Mortgage and Section 502 Loan Program is open to homebuyers who will live in the home as their primary residence. Loan term: Section 502: up to 33 years. Home Mortgage Loan: up to 30 years.. Consumer loan program available only to enrolled tribal members and permanent residents of the Cheyenne River Sioux Reservation; financial literacy course and personal budget may be required. Section 502 income limits: $66,400 (1-4 person), $87,650 (5-8 person). Primarily a mortgage CDFI, not a standalone DPA grant; partners with SDNHOC for down payment assistance.
What are the income limits?
Four Bands Community Fund Home Mortgage and Section 502 Loan Program limits household income to $66,400. Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.
What kind of home can it be used for?
Four Bands Community Fund Home Mortgage and Section 502 Loan Program can be used for Single Family, Manufactured, and Modular. New construction is eligible. Manufactured homes are eligible.
Is there eligibility for specific groups?
Four Bands Community Fund Home Mortgage and Section 502 Loan Program names American Indian and Alaska Native homebuyers among the groups it serves. Being named here means the program mentions the group, not that membership alone qualifies an applicant — the rest of the eligibility rules still apply.
Where does it apply?
Four Bands Community Fund Home Mortgage and Section 502 Loan Program serves homebuyers purchasing in Eagle Butte, South Dakota.
How do you apply?
Applications for Four Bands Community Fund Home Mortgage and Section 502 Loan Program go through Four Bands Community Fund, Inc., which publishes the current terms and the application steps on its own site. Hey Prescott is not a lender and does not accept applications; this page describes the program so a homebuyer can take it to a lender or housing counselor.
Also for Dewey County homebuyersOther programs open to Dewey County homebuyers
- South Dakota Native Homeownership Coalition Down Payment Assistance ProgramUp to $10,000
- GROW South Dakota Down Payment & Closing Cost Assistance (DPCC)Up to $7,500
- SD Housing Tax Credit (MCC)Up to $2,000
Whether two programs can be combined is up to each agency. Ask before you apply.
All 71 programs for Dewey CountyProgram terms are set by Four Bands Community Fund, Inc. and can change; confirm on the official site before you apply.