PIERRE -- The South Dakota Housing Development Authority has lowered its interest rates for first-time homebuyers to the lowest in its history.
The interest rate for starting step rate loans is 2.75 percent.
Fixed Rate loans have been reduced to 3.75 percent, and the fixed rate plus option loan rate was reduced to 4.25 percent.
The authority was able to cut interest rates under new regulations in the Obama administration's New Issue Bond Program, which is designed to stabilize the housing market. The program allows state housing finance agencies to issue new mortgage revenue bonds backed by the U.S. Treasury Department.
Income limits and purchase price limits vary by county.
Check out these links for more info on homes for sale in the Winner area!
Whetham Realty: www.whethamrealty.com
Fidelity Agency: www.fidelityagency.com
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