Public Safety Down Payment Assistance Program

Public Safety Down Payment Assistance Program is a forgivable loan for homebuyers in Sioux Falls, South Dakota, administered by City of Sioux Falls. Forgivable-loan downpayment and closing-cost assistance for full-time certified law enforcement officers and firefighters to buy and occupy a home in designated at-risk Sioux Falls neighborhoods, to stabilize and promote safety. Up to $20,000 or 20% of the purchase price, whichever is less, toward down payment, closing costs, and prepaid items. Funding comes from City of Sioux Falls.

Public Safety Down Payment Assistance Program offers up to $20,000 in assistance. Amounts are the program's published maximums, not an offer — City of Sioux Falls determines any individual award.

Public Safety Down Payment Assistance Program is forgiven after 5 years, so a homebuyer who stays that long does not repay it. Repayment is triggered by Due (principal, no interest) if within 5 years the home is sold/conveyed, relinquished, no longer occupied, public-safety employment is terminated, or the agreement is terminated for noncompliance. Fully forgiven after 5 years. The assistance is recorded in Second mortgage (inferior to primary lender's first mortgage) position. Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Public Safety Down Payment Assistance Program is open to homebuyers who will live in the home as their primary residence. Restricted to full-time certified law enforcement/firefighters with >=1 yr service; income limits not published (occupation/neighborhood-based). Eligible neighborhood list referenced but not enumerated online.

Public Safety Down Payment Assistance Program caps the purchase price at $340,000.

Public Safety Down Payment Assistance Program names law enforcement officers and firefighters 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.

Public Safety Down Payment Assistance Program serves homebuyers purchasing in Sioux Falls, South Dakota.

Applications for Public Safety Down Payment Assistance Program go through City of Sioux Falls, 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.