Housing Enhancement Loan Program


Click here for the HELP loan application.

Builder members of the South Dakota Home Builders Association qualify with a limit of one loan at a time. If a builder has a HELP loan previously, and there is a waiting list, the builder must go to the end of the waiting list. There is a total of $2 million available in this program which is conducted through SDHBA and the South Dakota Housing Development Authority.

Other guidelines include:

  • Only speculative homes qualify.
  • Maximum value of the home is $250,000.
  • Maximum loan is 80% of the value of the home.
  • Origination fee is 1% of the amount of the loan.
  • Maximum term of a loan is 12 months, however, a builder may be considered for a 6 month extension if requested.
  • Interest rate the first 6 months of the loan is 0%. The interest rate the second 6 months is 1/2 of the market rate used by South Dakota Housing Development Authority.
  • If a builder requests a third 6 month extension and is approved, the builder will pay an additional origination fee of 1/2% of the loan amount and pay the full market interest rate used by SDHDA.

Builders interested in applying for this program should call SDHBA at 605-224-2761