Enhancing Homeownership Opportunities with Tammy Jund
In this episode of The Housing Connection podcast, Tammy Jund, Director of Homeownership at South Dakota Housing, highlights key programs and enhancements that make homeownership more accessible. From Downpayment Assistance to the innovative Mortgage Credit Certificate (MCC) program, Tammy explains how these resources help South Dakotans achieve their homeownership dreams.
Down Payment Assistance
South Dakota Housing’s Fixed Rate Plus Loan provides downpayment and closing cost assistance, offering 3% or 5% of the first mortgage loan amount as a zero-interest second mortgage. Homeowners repay this assistance only upon selling or satisfying the home loan, making homeownership more affordable.
Mortgage Credit Certificate (MCC)
The MCC program allows first-time homebuyers to claim up to $2,000 annually as a federal tax credit on the interest paid on their mortgage. This program not only provides immediate financial benefits but also increases purchasing power for prospective homeowners.
CHIP: Home Improvement Made Affordable
The Community Home Improvement Program (CHIP) offers existing homeowners low-interest loans (2.9%) for home repairs and upgrades, from fixing roofs to enhancing accessibility. This flexible program ensures that homes remain safe and livable.
Episode Mentions
Community Home Improvement Program (CHIP)
About Tammy Jund
Tammy Jund serves as the Director of Homeownership at South Dakota Housing, where she oversees programs that empower South Dakotans to achieve and maintain homeownership. Her expertise and dedication ensure these initiatives remain effective, innovative, and impactful.