South Dakota launches Give Me Five: 5% forgivable DPA

Published Oct 23, 2026 · Homebuyer update · By the DPA Finder editorial team

South Dakota Housing's new Give Me Five program, launching Nov. 2, 2026, offers eligible first-time buyers 5% of their first mortgage amount as a forgivable second mortgage.

South Dakota Housing (SDH) and Gov. Larry Rhoden announced a new down payment assistance program on October 13, 2026. It's called Give Me Five, and it opens to homebuyers on November 2, 2026.

According to SDH, eligible buyers receive 5% of their first mortgage amount in down payment assistance. The help comes as a second mortgage with no monthly payments, and it is forgiven after five years if the buyer lives in the home as their primary residence and meets all program requirements.

To qualify, buyers must meet SDH's First-Time Homebuyer Program income requirements, buy a primary residence in South Dakota, not have owned a home in the past three years, and buy a home priced at $410,000 or less.

SDH says the program will run for a limited time through participating lenders, so the first step is booking an appointment with a lender on its participating lender list. See the Give Me Five listing, or compare it with South Dakota's other help on our South Dakota page and the SD Fixed Rate Plus listing, or read how down payment assistance works.

Sources

• SD Housing: New Program for Downpayment Assistance (Oct. 13, 2026) (opens in new tab) ↗
• State of South Dakota news release (Oct. 13, 2026) (opens in new tab) ↗

Related on DPA Finder

• South Dakota down payment assistance programs
• Give Me Five
• Fixed Rate Plus
• Eligibility checker
• Cash-to-close calculator

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