Looking to get information on buying your first house? No matter where you are in South Dakota, there are resources available to you if buying your first house is on your agenda. A certified counselor can walk you through the process, or you can utilize online information – whichever speed you prefer. Here are some of your options:
In conjunction with the South Dakota Housing Development Authority (SDHDA), the Homeownership Education Resource Organization (HERO) provides free classes, personalized sessions or online education to interested state residents.
The goal of HERO is to empower people to be in control of their house purchases by equipping them with the knowledge to answer any burning questions or deter any fears about the process. (An added bonus – some lenders will offer a discount on your closing costs if you attend homeownership education classes!)
The Department of Housing and Urban Development (HUD) approves qualified counseling agencies across the state of South Dakota. There are a variety of locations that you can contact for service.
If the classroom setting isn’t your thing, you can always take advantage of a personal homeownership session with HERO’s counselors. They help walk you through purchasing a house, refinancing an existing loan, repairing your credit and any other questions that may arise regarding financing and lending.
All counselors are certified, so you can rest assured that they know their stuff. And it’s not even limited to homebuying – renters can get help on their apartment searching and resolving issues with their landlords through the counseling service.
If what you’re after is a ballpark figure of what homeownership will cost, SDHDA offers a payment calculator on its site for free. While these types of tools are for estimation purposes only, they can give you a glimpse into what to expect from your homebuying experience.
Prepare your budget with an estimated average monthly payment that factors in taxes, insurance and interest rates.
Arm yourself with knowledge when you’re ready to start the homebuying process – it’ll give you peace of mind that you’re making educated decisions.