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USDA Celebrates National Homeownership Month in South Dakota

Name
Tammi Schone
Email
tammi.schone@usda.gov
Phone
605-352-1102
City
Huron
Release Date

Activities and Events across the Nation to Spotlight Efforts to Help Rural Residents Realize the Dream of Homeownership

Today, Agriculture Secretary Tom Vilsack kicked off National Homeownership Month, as part of a nationwide celebration to highlight U.S. Department of Agriculture (USDA) efforts to provide access to affordable housing for rural Americans.

“Safe, energy-efficient, affordable housing is essential to the vitality of communities in rural America,” said Secretary Vilsack. “The American Rescue Plan is providing critical relief to rural homeowners and helping to keep more Americans in their homes. USDA is committed to using our resources to help support healthy, resilient and more equitable communities through homeownership.”

Since 1949, USDA has helped 4.7 million families and individuals buy homes in rural areas. USDA Rural Development supports rural homeownership through the following programs:

  • The Single Family Housing Direct Home Loan Program provides loans directly to families and individuals so they can buy or build homes in rural America. For Fiscal Year (FY) 2020, South Dakota invested $9 million to assist 56 homeowners. Nationwide, in its lifetime, this program has helped 2.2 million families and individuals purchase a home.
  • Through its Single Family Housing Guaranteed Loan Program,  USDA Rural Development in South Dakota invested $173.7 million to assist 1,120 homeowners. Nationwide, USDA has partnered with more than 4,000 private lending institutions, backing their loans to help nearly 2 million families and individuals buy homes in rural areas since the program was created in 1991. The top five lenders in South Dakota for FY ‘20 include: Plains Commerce Bank; Bankwest, Inc.; Dakotaland Federal Credit Union; First Dakota National Bank; and Fairway Independent Mortgage Corp. 
  • The Home Repair Loan and Grant Program provides loans and grants to help families and individuals repair and modernize homes, making them safer, healthier places to live. In FY ’20, USDA Rural Development in South Dakota invested $224,276 to assist 25 families. Since it started in 1950, nationwide the program has helped nearly 434,000 families improve the quality of their homes.
  • The Mutual Self-Help Housing Grant Program provides grants to qualified organizations to help them carry out local self-help housing construction projects. In FY ’20, South Dakota, USDA Rural Development awarded Inter-Lakes Community Action Program with a $55,070 grant to assist new homeowners. Through this program, nationwide USDA has worked with nearly 230 organizations to provide a unique opportunity for families and individuals to lower the overall purchase price of a new home by investing “sweat equity” into its construction. 

To learn more about USDA homeownership programs, please visit the Single Family Housing program webpage or contact a Rural Development State Office near you.

Under the Biden-Harris Administration, Rural Development provides loans and grants to help expand economic opportunities, create jobs and improve the quality of life for millions of Americans in rural areas. This assistance supports infrastructure improvements; business development; housing; community facilities such as schools, public safety and health care; and high-speed internet access in rural, Tribal and high-poverty areas. If you’d like to subscribe to USDA Rural Development updates, visit our GovDelivery subscriber page.