Funding & Financing

As a key milestone for the South Dakota Native Homeownership Coalition, our members recommended a “funding clearinghouse” with information on different funding sources that support Native homeownership in South Dakota. This section provides information on different funding sources by category, including sources of mortgage financing, development subsidy funding sources, downpayment and closing cost sources, as well as information about sources that support homebuyer education and as asset-building. In addition, this section provides general information about a number of foundations that support Native homeownership in South Dakota.

Simply click on a tab in the left column below to navigate through the directory of funding and financing resources.

Assets for Independence (AFI)

Source of Funds:  Department of Health and Human Services
Website: www.idaresources.org

 


 

Brief Description:

The AFI program provides support for Individual Development Account (IDA) programs. The majority of funds must be used as IDA match. Eligible IDA asset goals are homeownership, business development, and post-secondary education.

 

 


Social and Economic Development Strategies (SEDS)

Source of Funds:  Department of Health and Human Services, Administration for Native Americans (ANA)
Website: www.acf.hhs.gov/programs/ana/programs/seds

 


 

Brief Description:

The SEDS program funds social and economic development projects in on- and off-reservation Native communities and provide federal support for self-determination and self-governance among Native American people.


Service Providers for Asset Building Programs

To view a list of organizations that provide asset building programs directly to homebuyers, click one of the buttons below.

Credit Builder Loans

Credit Improvement Planning

Financial Counseling

Financial Education Classes

IDA Programs

One-on-One Financial Coaching

VITA/EITC Programs

 


Affordable Housing Program (AHP)

Source of Funds:  Federal Home Loan Bank
Contact:  Rick Bloxham, Homeownership Manager,
Federal Home Loan Bank – Des Moines, rbloxham@fhlbdm.com, 518-281-1198
Website: http://www.fhlbdm.com/affordable-housing-products/competitive-affordable-housing-program/competitive-ahp-application–resources/

 


 

Brief Description:

The AHP is a competitive grant award program of the Federal Home Loan Bank of Des Moines available to sponsor organizations including non-profits, governments, tribes, and housing authorities. Applicants must have support from an FHLBDM member financial institution to apply. Funding may be used for affordable housing projects that provide downpayment and closing cost assistance, owner-occupied rehabilitation, or new construction or acquisition and rehabilitation of homes for sale to homebuyers. . Up to $500,000 in grant funds are available for eligible projects, with a limit of $30,000 per unit of housing. Projects must serve households below 80% of area median income.

Program guidelines including eligibility requirements, feasibility guidelines, and competitive scoring criteria are included in the AHP Implementation Plan. The Plan also includes requirements for disbursement and project monitoring. The current year AHP Implementation Plan, dates to remember for making application, and instructions are available on the FHLBDM website.

Additional Information:

Competitive Affordable Housing Program/Application and Resources

 


Housing Opportunity Fund (HOF)

Source of Funds:  South Dakota Housing Development Authority
Contact:  Chas Olson, Housing Development Officer, chas@sdhda.org
Website: www.sdhda.org

 


 

Brief Description:

The objective of the South Dakota Housing Opportunity Fund (HOF) is to provide a financial resource to help address the housing needs of South Dakota communities. Based on identified housing needs, HOF can be utilized to assist with providing a variety of housing opportunities, including downpayment and closing costs.

 

It is recommended that applicants review the HOF Allocation Plan, which can be found here.


Affordable Housing Program (AHP)

Source of Funds:  Federal Home Loan Bank of Des Moines
Contact:  Rick Bloxham, Homeownership Manager,
Federal Home Loan Bank – Des Moines, rbloxham@fhlbdm.com, 518-281-1198
Website: http://www.fhlbdm.com/affordable-housing-products/competitive-affordable-housing-program/competitive-ahp-application–resources/

 


 

Brief Description:

The AHP is a competitive grant award program of the Federal Home Loan Bank of Des Moines available to sponsor organizations including non-profits, governments, tribes, and housing authorities. Applicants must have support from an FHLBDM member financial institution to apply. Funding may be used for affordable housing projects that provide downpayment and closing cost assistance, owner-occupied rehabilitation, or new construction or acquisition and rehabilitation of homes for sale to homebuyers. In 2017 up to $750,000 in grant funds are available for eligible projects, with a limit of $40,000 per unit of housing. Projects must serve households below 80% of area median income.

Program guidelines including eligibility requirements, feasibility guidelines, and competitive scoring criteria are included in the AHP Implementation Plan. The Plan also includes requirements for disbursement and project monitoring. The current year AHP Implementation Plan, dates to remember for making application, and instructions are available on the FHLBDM website.

Additional Information: Competitive Affordable Housing Program/Application and Resources


Home$tart and Home$tart Plus

Source of Funds:  Federal Home Loan Bank of Des Moines
Contact:  DeAnna Poling,  Affordable Housing  Manager, Federal Home Loan Bank – DesMoines, dpoling@fhlbsdm.com, 206-340-2429
Website: http://www.fhlbdm.com/affordable-housing-products/down-payment-products/hometart-and-hometart-plus/

 


 

Brief Description:

Home$tart and Home$tart Plus are down payment assistance programs offered by the Federal Home Loan Bank of Des Moines, which are available through its member financial institutions.  In the 2017 Home$tart Program grant awards up to $7,500 are available to owner-occupant homebuyers below 80% of area median income.

The HomeStart Plus program is available to owner-occupant homebuyers below 80% of area median income who are currently receiving public housing assistance, or receiving public housing assistance in the purchase of a home.  In 2017 grant awards up to $15,000 are available for public housing assisted households.

Additional Information:

See the FHLBDM website for program guidelines.

A membership directory identifying FHLBDM members is available at: http://members.fhlbdm.com/membership-directory/.

Contact the FHLBDM for more information.


Housing Opportunity Fund (HOF)

Source of Funds:  South Dakota Housing Development Authority
Contact:  Chas Olson, Housing Development Officer, chas@sdhda.org
Website: www.sdhda.org

 


 

Brief Description:

The objective of the South Dakota Housing Opportunity Fund (HOF) is to provide a financial resource to help address the housing needs of South Dakota communities. Based on identified housing needs, HOF can be utilized to assist with providing a variety of housing opportunities, including downpayment and closing costs.

 

It is recommended that applicants review the HOF Allocation Plan, which can be found here.


Native American Homeownership Initiative (NAHI)

Source of Funds:  Federal Home Loan Bank of Des Moines
Contact:  DeAnna Poling,  Affordable Housing  Manager, Federal Home Loan Bank – DesMoines, dpoling@fhlbsdm.com, 206-340-2429
Website: http://www.fhlbdm.com/affordable-housing-products/down-payment-products/native-american-homeownership-initiative/

 


 

Brief Description:

The NAHI is a targeted initiative of the Federal Home Loan Bank of Des Moines to support Native American homeownership. It is a down payment assistance program available through FHLBDM member financial institutions. In 2017 grant awards up to $15,000 are available to provide eligible Native American owner-occupant homebuyers downpayment and closing assistance in the purchase of a home. Assisted households must be below 80% of area median income and the homebuyer must be an enrolled member of a federally recognized tribe.

Additional Information:

See the FHLBDM website for program guidelines.

A membership directory identifying FHLBDM members is available at: http://members.fhlbdm.com/membership-directory/.

Contact the FHLBDM for more information.


Service Providers for Downpayment & Closing Costs

To view a list of organizations that provide downpayment  and closing cost assistance directly to homebuyers, click below.

Downpayment & Closing Costs Providers

 


Homebuyer Education Resource Organization (HERO)

Source of Funds:  Homebuyer Education Resource Organization (HERO)
Contact:  Mary Stewart, marys@sdhda.org
Website: http://sdhomebuyered.org/

 


 

Brief Description:

Homeownership Education Resource Organization (HERO), an independent 501(c)(3), provides homeownership education professionals with standards of learning objectives to advance homeownership through high quality, consistent education giving South Dakotans a better opportunity to achieve and maintain homeownership. As an affiliate of South Dakota Housing Development Authority (SDHDA), HERO operates under the SDHDA Board of Commissioners appointed by the Governor of South Dakota.


Resident Opportunity Self-Sufficiency (ROSS)

Source of Funds:  U.S. Department of Housing and Urban Development
Contact:  800-955-2232
Website: http://portal.hud.gov/hudportal/HUD?src=/program_offices/public_indian_housing/programs/ph/ross/about#2

 


 

Brief Description:

The purpose of the ROSS program is to provide funding to hire and maintain Service Coordinators who will assess the needs of residents of conventional public housing or Indian housing and coordinate available resources in the community to meet those needs. This program works to promote the development of local strategies to coordinate the use of assistance under the public housing program with public and private resources, for supportive services and resident empowerment activities.


Service Providers for Homebuyer Education & Counseling

To view a list of organizations that provide homebuyer education and counseling programs directly to homebuyers, click one of the buttons below.

Homebuyer Education Classes

Pre-Purchase Counseling

Post-Purchase Counseling

 


502 Direct Loan

Source of Funds:  USDA Rural Development
Contact:  Varies by region. Download contact list.
Website: www.rurdev.usda.gov/HAD-Direct_Housing_Loans

 


 

Brief Description:

The 502 is USDA’s primary loan product for low income borrowers in rural areas.   USDA is the lender for this product, and lower interest rates make the product more affordable.


502 Guaranteed Loan

Source of Funds:  USDA Rural Development
Contact:  Varies by region. Download contact list.
Website: www.rurdev.usda.gov/HAD-Direct_Housing_Loans

 


 

Brief Description:

This product is originated by private lenders, and guaranteed by Rural Development.


Housing Opportunity Fund (HOF)

Source of Funds:  South Dakota Housing Development Authority
Contact:  Chas Olson, Housing Development Officer, chas@sdhda.org
Website: www.sdhda.org

 


 

Brief Description:

The objective of the South Dakota Housing Opportunity Fund (HOF) is to provide a financial resource to help address the housing needs of South Dakota communities. Based on identified housing needs, HOF can be utilized to assist with providing a variety of housing opportunities, including downpayment and closing costs.

 

It is recommended that applicants review the HOF Allocation Plan, which can be found here.


HUD-Guaranteed 184 Loan

Source of Funds:  Participating Private Lenders
Contact:  Deanna Lucero, Senior Loan Guarantee Specialist,HUD – ONAP, deanna.v.lucero@hud.gov
Website: portal.hud.gov/hudportal/HUD?src=/program_offices/public_indian_housing/ih/homeownership/184

 


 

Brief Description:

This mortgage loan is made by participating private lenders, and guaranteed by HUD.   Interest is market rate.   Participating 184 lenders in South Dakota include 1st Tribal Lending and Wells Fargo.

Download the HUD 184 brochure.

Download the HUD 184 process flow chart.

 


Native American CDFI Assistance (NACA)

Source of Funds:  Community Development Financial Institutions Fund of the U.S. Treasury Department
Contact:  Amber Kuchar-Bell, Associate Program Manager, CDFI Fund, Department of the Treasury, kuchara@cdfi.treas.gov
Website: www.cdfifund.gov/what_we_do/programs_id.asp?programID=3

 


 

Brief Description:

Through the NACA Program, the CDFI Fund provides funding to build the community development capacity of Certified Native CDFIs, Emerging Native CDFIs, and Sponsoring Entities, and to increase access to capital in Native Communities.


Native American Direct Loan

Source of Funds:  Veterans Administration
Contact:  Morgan Pontiff, Loan Specialist/NADL Coordinator
Website: http://www.benefits.va.gov/HOMELOANS/nadl.asp

 


 

Brief Description:

The Native American Direct Loan (NADL) Program provides direct home loans from the Veterans Administration to eligible Native American Veterans to finance the purchase, construction, or improvement of homes on Federal Trust Land, or to refinance a prior NADL to reduce the interest rate.

Download the NADL fact sheet.


Providers for Mortgage Loans

To view a list of organizations that provide mortgage loans directly to homebuyers, click below.

Mortgage Loans

 

 


Bush Foundation

Source of Funds:  Bush Foundation
Website: www.bushfoundation.org

 


 

Brief Description:

Through its Community Innovation and Leadership programs, the Bush Foundation invests in individuals and organizations working on issues that are important to their communities. The foundation has two special focus areas – Native Nations and Education – through which it builds deep partnerships with individuals and organizations to advance specific goals for the region it serves.

The Community Innovation program offers two open grant opportunities – The Bush Prize for Community Innovation and Community Innovation Grants – to inspire and support communities to pursue innovative solutions to their challenges. Applications will be open Spring 2015.


Citi Foundation

Source of Funds:  Citi Foundation
Website: www.citifoundation.com/citi/foundation/

 


 

Brief Description:

The Citi Foundation focuses on three core areas:

  • Financial Inclusion – Increases in financial products and capital to support financial inclusion and the growth of businesses that provide new income generation and/or employment opportunities for low-income individuals. Increases in the number of low-income adults or youth who adopt positive financial behaviors and accumulate and preserve financial assets.
  • Youth Economic Opportunities – Increases in the number of low-income youth who complete postsecondary (college-level) education, gain skills to enhance employability, become employed or start their own income-generating business.
  • Urban Transformation – Increases in urban-focused initiatives that contribute to the economic progress and/or environmental sustainability of low-income individuals and communities.

The Citi Foundation reviews proposals by invitation only from organizations with demonstrated successes in its outlined focus areas, and does not review any unsolicited letters of inquiry or proposals.


John T Vucurevich Foundation

Source of Funds:  John T Vucurevich Foundation
Website:  www.jtvf.org

 


 

Brief Description:

The John T. Vucurevich Foundation awards grants supporting the advancement of the arts, education and science, and the promotion of social welfare within South Dakota, with preference given to the West River area and in particular the Black Hills. The foundation accepts Letters of Inquiry.


Northwest Area Foundation

Source of Funds:  Northwest Area Foundation
Contact:  intro@nwaf.org or 888-904-9828
Website: www.nwaf.org

 


 

Brief Description:

The Northwest Area Foundation plans make clusters of grants in the following areas this year: Building Assets and Wealth, Grants to Native Americans, Public Policy, and Leveraged Impact. The Foundation accepts grant proposals on an invitation-only basis.


Running Strong for American Indian Youth Foundation

Source of Funds: 

Running Strong for American Indian Youth Foundation

Contact:  info@IndianYouth.org
Website: www.indianyouth.org

 


 

Brief Description:

Running Strong helps improve housing in Indian Country through the building of new homes, home repairs, and homeowner education programs.


South Dakota Community Foundation

Source of Funds:  South Dakota Community Foundation
Contact:  Ginger Niemann, Program Officer, ginger@sdcommunityfoundation.org
Website: www.sdcommunityfoundation.org

 


 

Brief Description:

The South Dakota Community Foundation provides grants to nonprofits to support five areas of need: education, health, human services, economic development, and culture. Applications are accepted through an online process.