Village on Monroe Homebuyer Grant

Village on Monroe Homebuyer Grant is a grant for homebuyers in Rapid City, South Dakota, administered by NeighborWorks Dakota Home Resources. Grant to help qualified buyers pay down payment and closing costs when purchasing a townhouse at the Village on Monroe, an affordable for-sale townhome development in Rapid City created through a public-private collaboration. 1-bedroom townhouse: grant up to $2,200; 2-bedroom townhouse: grant up to $3,200.

Village on Monroe Homebuyer Grant offers between $2,200 and $3,200 in assistance. Award tiers: 1-bedroom up to $2,200; 2-bedroom up to $3,200. Amounts are the program's published maximums, not an offer — NeighborWorks Dakota Home Resources determines any individual award.

Village on Monroe Homebuyer Grant is structured as a grant, so it is not repaid. Repayment is triggered by None (grant). Forgiveness and repayment terms are set by the program and can change — confirm them on the official program page before applying.

Village on Monroe Homebuyer Grant is open to homebuyers who will live in the home as their primary residence. A homebuyer education course is required, through NeighborWorks Homebuyer Education (online or in person, free). Property-specific grant (Village on Monroe townhomes). Min credit/DTI/CLTV not published.

Village on Monroe Homebuyer Grant limits household income to 115% of the area median income, which varies by county and household size. Household income below 115% AMI: 1-person <$56,925; 2-person <$64,975; 3-person <$73,140; 4-person <$81,190. The limit applies to total household income, not only the borrower&rsquo;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.

Village on Monroe Homebuyer Grant can be used for townhome.

Village on Monroe Homebuyer Grant names veterans, active-duty service members, reservists and National Guard members, surviving spouses, American Indian and Alaska Native homebuyers, educators, law enforcement officers, firefighters, healthcare workers, homebuyers with disabilities, and first-generation 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.

Village on Monroe Homebuyer Grant serves homebuyers purchasing in Rapid City, South Dakota.

Applications for Village on Monroe Homebuyer Grant go through NeighborWorks Dakota Home Resources, 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.