GROW South Dakota Down Payment & Closing Cost Assistance (DPCC)

What is GROW South Dakota Down Payment & Closing Cost Assistance (DPCC)?

GROW South Dakota Down Payment & Closing Cost Assistance (DPCC) is a deferred second loan for homebuyers in Sisseton, South Dakota, administered by GROW South Dakota.

• Down payment and closing cost assistance for homebuyers purchasing in rural areas of South Dakota, as a 0% interest, deferred-payment second mortgage. GROW SD administers multiple funding sources (including the federal Capital Magnet Fund) under this DPCC umbrella.
• Typically $5,000-$7,500 (Capital Magnet Fund tier provides $7,500); amount varies by location, household income, and available funding.
• Funding comes from Multiple sources incl. federal Capital Magnet Fund (CMF).

How much assistance does it provide?

GROW South Dakota Down Payment & Closing Cost Assistance (DPCC) offers between $5,000 and $7,500 in assistance.

• Award tiers: 0% interest, deferred-payment, 30-year second mortgage. Loan terms cannot exceed 30 years (USDA RD exception). No ARMs.
• Amounts are the program's published maximums, not an offer — GROW South Dakota determines any individual award.

Do you have to pay it back?

GROW South Dakota Down Payment & Closing Cost Assistance (DPCC) is deferred, so no payments are due until the home is sold, refinanced, or the first mortgage is paid off.

• Repayment is triggered by Due when refinanced, sold/exchanged, ceases to be principal residence, or when the first mortgage reaches maturity/is paid in full, whichever comes first.
• The assistance is recorded in Second mortgage position.
• Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

GROW South Dakota Down Payment & Closing Cost Assistance (DPCC) is open to buyers who will live in the home as their primary residence.

What are the income limits?

GROW South Dakota Down Payment & Closing Cost Assistance (DPCC) limits household income to 80% of the area median income, which varies by county and household size.

• The limit applies to total household income, not only the borrower’s.
• Area median income figures are published by HUD and updated annually, so check the current table for the county before relying on a number.

Is there eligibility for specific groups?

GROW South Dakota Down Payment & Closing Cost Assistance (DPCC) names veterans, active-duty service members, reservists and National Guard members, surviving spouses, American Indian and Alaska Native buyers, educators, law enforcement officers, firefighters, healthcare workers, buyers with disabilities, and first-generation buyers 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?

GROW South Dakota Down Payment & Closing Cost Assistance (DPCC) serves buyers purchasing in Sisseton, South Dakota.

How do you apply?

Applications for GROW South Dakota Down Payment & Closing Cost Assistance (DPCC) go through GROW South Dakota, which publishes the current terms and the application steps on its own site.

1. 1

   Take a homebuyer education course

   Required by the program, through HUD-approved homebuyer education course; confirm with GROW SD that the course meets the funding source's requirements.

2. 2

   Contact GROW South Dakota to reserve funds

   Funds are reserved with the provider and are subject to availability.

3. 3

   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 buyer can take it to a lender or housing counselor.