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NLS DPCC

Rapid City, South Dakota

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See what you qualify for
Income limit

$123,300

The household income limit the program publishes

Price cap

$385,000

Highest purchase price the program allows

Repayment

Deferred

No payments until the home is sold or refinanced

What is NLS DPCC?

NLS DPCC is a deferred second loan for homebuyers in Rapid City, South Dakota.

  • NWDHR NeighborWorks Lending Solutions-funded 0% deferred second mortgage up to $15,000 toward down payment and closing costs. Used as fallback when CDFI/HOF tiers exhausted. Western SD focus.
  • NeighborWorks Dakota Home Resources (NWDHR) NLS DPCC is funded through NeighborWorks Lending Solutions (NLS), the lending arm of NeighborWorks America. The program provides 0% deferred-payment second mortgages of up to $15,000 toward down payment, closing costs, and prepaid items. There are no monthly payments.
  • the full balance is due on sale, refinance, or non-owner-occupancy. Used when CDFI and HOF capital tiers are exhausted. Same eligibility envelope as other NWDHR DPCC variants.
  • Funding comes from Other and NLS.

Do you have to pay it back?

NLS 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 Full balance due on sale, refinance, payoff of first mortgage, transfer of title, or non-owner-occupancy.
  • The assistance is recorded in 2nd Lien position.
  • Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Who qualifies?

NLS DPCC is open to first-time homebuyers and buyers who will live in the home as their primary residence.

The program requires

  • First-time homebuyer — with exceptions: Targeted neighborhoods may waive the FTHB requirement.
  • The home is occupied as a primary residence
  • On credit: 620 minimum representative mid-FICO.
  • A completed homebuyer education course, through NWDHR Homebuyer Education (required); also accepts SDHDA-approved providers.
  • Residency: Property must be located in NWDHR's South Dakota service area and serve as borrower's primary residence.
  • Citizenship or immigration status: U.S. citizen, permanent resident alien, or qualifying non-permanent resident alien.
  • First-time homebuyer (no ownership of principal residence in past 3 years). Owner-occupied principal residence. Household income $63,000-$123,300 by household size. 620 minimum mid-FICO. 45% maximum DTI. $1,000 minimum borrower contribution. NWDHR Homebuyer Education required. NLS-specific underwriting overlays per NeighborWorks Lending Solutions guidelines.

The program excludes

  • Purchases above the $385,000 price cap
  • Households above $123,300

These are the program's own published rules, not a decision about any individual — the administering agency and a lender determine who actually qualifies.

What are the income limits?

NLS DPCC limits household income to $123,300.

  • 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.

What kind of home can it be used for?

NLS DPCC caps the purchase price at $385,000.

  • Eligible property types include Single-family detached, condominium, townhouse, PUD and manufactured home per first-mortgage product.
  • New construction is eligible.
  • Manufactured homes are eligible.

Is there eligibility for specific groups?

NLS DPCC names veterans, active-duty service members, reservists and National Guard members, surviving spouses, and American Indian and Alaska Native 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?

NLS DPCC serves buyers purchasing in Rapid City, South Dakota.

  • The program targets specific areas: NWDHR Western South Dakota service area (Pennington, Meade, Lawrence, Custer, Fall River counties).

How do you apply?

Applications for NLS DPCC go through the administering agency.

  1. Take a homebuyer education course

    Required by the program, through NWDHR Homebuyer Education (required); also accepts SDHDA-approved providers..

  2. Contact the administering agency to reserve funds

    Funds are reserved through Direct application to NWDHR; reserved at lender intake. Subject to NLS capital pool availability and NLS underwriting approval., and are subject to availability.

  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.

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