Armour, SD

We want to help you make your dreams come true………………………

The USDA Rural Development and the Armour Horizons Housing Committee are here to help.

Funding is Available…..Lots are Available…..Houses are Available…..all we need is YOU!

 Eligibility Requirements

•  Must meet income eligibility guidelines
•  Meet repayment rations
•  Must be a U.S. citizen or legally admitted to the U.S. for permanent residence
•  Must have an acceptable credit history for past 36 months
•  After purchase or construction, the applicant must be the owner/occupant of the dwelling
  

 Highlights of Program      

•  33 Year Fixed Rate Mortgages with subsidy lowering payment
•  100% Financing – No Down Payment Required
•  Loan costs may be included in the loan if requirements are met
•  No Mortgage Insurance or Premium Payments
•  Loan limit is $132,000

Who Qualifies for the Governor’s House?

• For households with two or less individuals, combined income cannot exceed $33,900
• For households with three or more individuals, combined income cannot exceed $39,550
• For families and individuals under the age of 62, net worth must be less than $90,000 and less than $70,000 in liquid assets. 
• For families and individuals age 62 and older, net worth must be less than $175,000 and less than $100,000 in liquid assets.
• Eligible buyers also include housing authorities, non-profit organizations, economic development corporations and local chambers of commerce planning to sell to qualified purchasers

There Are Several Lots Available in Armour

There Are Several Existing Homes for Sale

http://www.farmers-national.com/realestate/search/xq/asp/StateName.South+Dakota/pagesize.10/Name.Residential/Property_Name./qx/search2.htm

http://www.realtor.com/search/searchresults.aspx?ctid=29466&typ=7

There Are Several Funding Options

• First Time Homebuyer Program
• South Dakota Housing Development Authority (SDHDA)
• Rural Development Guaranteed Loan
• Department of Housing & Urban Development (HUD)

 Why buy a Governor’s House?

• The price of the home is $33,000.  This includes the price of the house, transportation to your lot and placement on the foundation or basement.  Additional placement charges may apply, depending upon the lot location.
• You should also consider a few things before you purchase such as the price of the lot.  There are several other items to consider also, the cost of putting in the foundation or basement; state, city and excise taxes; water and utility hook-ups; floor coverings and appliances.  Other considerations may include a survey, sidewalks, driveway, curb and gutter.
• You can finance your house like any other house you might purchase.
• The SDHDA will provide plans for a basement or footing and foundation plans for a crawl space.
• Plans are available showing where the stairway cutout is to be located
• The Governor’s House is a 24’ x 42’, two bedroom, 1 bathroom home.

 What If I Don’t Want To Buy a New House

-         There is funding available to help with the purchase of an existing home

-         There is funding available to help remodel your existing home

 Please contact:

Gary Wedel                                                                              Larry Ymker
Rural Development Specialist                                                    Horizon’s Housing Committee
(605) 996-1564, Ext 4                                                             (605) 724-2401

Darold Werkmeister                                                                 Larry Wilson
Horizon’s Housing Committee                                                   Horizon’s Housing Committee
(605) 724-2818                                                                       (605) 724-2796

Dana Krull
Horizon’s Housing Committee
(605) 724-2459

Examples of Governor’s Houses

     

 

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