HOUSING GRANTS

HAPI intends to assist approximately 125 families in 17 Northeastern South Dakota Counties in the purchase of a home this year with the availability of $500,000 in grant funds. HAPI's service area is Beadle, Brown, Campbell, Day, Edmunds, Faulk, Hand, Hughes, Hyde, Marshall, McPherson, Potter, Roberts, Spink, Stanley, Sully and Walworth counties.
Funds for this program are provided by the Federal Home Loan Bank of Des Moines, a government sponsored institution.  Applications for the HAPI grant can be downloaded and printed.  HAPI will work with the homebuyer’s mortgage lender to complete the application.  Prior to the disbursal of funds, you must attend a HAPI approved home ownership education class.  HAPI does provide these classes for you.  The grant funds will be sent to the closing agent with a deed restriction that states that the grant will be forgiven at the rate of 1/60th per month.  If you move or sell the home prior to 5 years, you will be required to pay the un-forgiven portion of the deed restriction.

AFFORDABLE HOUSING PROGRAM GRANTS

These $4,000 grants are available to persons with household incomes below those listed in the chart below. Grant funds can be used towards a down-payment, principle reduction, closing costs, and home improvements.  A minimum of $1,000 of these grants must be used for improvements to the home purchased. Eligible home improvements may include shingling, bathroom remodeling, floor coverings, or similar projects. Appliances and tools are not considered home improvements. The funds used for improvements will be held in escrow by the closing agent and released to the homebuyer when receipts are provided.
 

Forms for Lenders: Click on Forms to Print

HAPI APPLICATION   HAPI DRAW REQUEST   LOAN ORIGINATOR