Manufactured Housing Downpayment Program
SD Housing / Ready To Buy? / Manufactured Housing Downpayment Program
About the Program
The objective of the Manufactured Housing Downpayment (MHDP) program is to help qualified homebuyers with downpayment funds when purchasing a manufactured home that is not classified as real estate in South Dakota. The program provides downpayment assistance for manufactured homes that are not eligible for SD Housing’s traditional downpayment assistance programs. Down payment assistance is available for up to 50% of your required down payment, with a maximum award of $10,000.
Who Qualifies?
For a full list of applicant eligibility and requirements, please refer to the MHDP Desk Guide below. To qualify for downpayment assistance, the manufactured home must:
Be located in South Dakota and stay in South Dakota until the first lien is paid off.
Be the borrower's primary home.
Be financed with a first mortgage from a lender that is registered with the Nationwide Multistate Licensing System (NMLS). The borrower must provide proof of financing.
Have a total household income that is at or below 120% of the Area Median Income (AMI) for either the county or the state, whichever amount is higher.
Applications
Applications are reviewed on a first come, first served basis. Potential participating agencies must submit applications at the link below. SD Housing provides funds to local participating lending institutions and not directly to potential homeowners. Potential homeowners should contact a participating agency in their area for information about receiving this assistance.
Resources
