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South Dakota Housing finding success with Grants for Grads

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1 year ago

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South Dakota Housing finding success with Grants for Grads


SIOUX FALLS, S.D. (Dakota News Now) – With the current state of the economy, it can be easy for any recent college graduate to assume that buying a home is just not in the cards.

But with the Grants for Grads program, hundreds have already found out that homeownership is a possibility for them and it has been keeping young professionals in the state.

Previous Coverage: New state program to give recent grads grants for home ownership

South Dakota Housing Executive Director Chas Olson said that since early May, 365 recent graduates have realized their dreams of owning a home with grant funds that provide five percent of the loan amount and total around $4.5 million collectively.

“As you can probably imagine, we had a really big surge of applications in the early months and it’s really been steady ever since, so I think when you consider the context of today’s housing costs, high interest rates, the five percent is really proving to be a pretty significant aid to first-time home-buyers,” Olson explained.

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Each grant is worth up to $18,000 and has been used for closing costs, paying off extra fees or pre-paying mortgage insurance premiums on FHA loans. It can also be used in tandem with seller concessions. However it gets used, it greatly reduces the financial burden for the homebuyer.

Mortgage lender Devin Malmgren enjoys being part of walking first-time homebuyers through the process of buying a home.

For some, the Grants for Grads program has made a purchase possible in the first place.

“It’s unbelievable because last week I gave away $27,000. The week prior, I gave away around $86,000. [It’s] giving these first-time home-buyers that type of money and setting them up for the future,” Malmgren said.

While it can be difficult to project how much longer the opportunity for grant money will be around, their target goal is to give out between 900 and 1,000 grants.

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“We’re committed to hitting that 900 to 1000. It’s just going to depend on interest rate environments and the talk of the possible cuts from the feds. That could produce another surge,” Olson said.

Malmgren said he believes it might run out by the end of the year or in early 2025.

“We saw a significant rate drop over the last two weeks and with rates dropping, that demand is ticking up and so I’d anticipate that current pull-through rate of the grant program to increase and then deplete those funds even faster,” Malmgren explained. “It is limited time and it’s first come, first serve.”

Malmgren said that buying now still might not be the perfect opportunity for everyone.

He said it might be in the best interest of any recent college graduate interested in buying a home to talk things through with a mortgage lender or realtor to see what assistance they qualify for, what the mortgage payments might look like, and if it’s the right time to buy.

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“As this program winds down, I know it’s a big concern and we get a lot of calls about when it’s going to go away, they don’t know if they want to lock in, interest rates may be coming down, that sort of thing. We’re going to do our best to communicate that to our lenders and to the public when the sun’s setting so to speak on the program. Hopefully, we have a couple of month’s notice so folks can plan accordingly,” Olson said.

So far, the program has lived up to everything they expected and is meeting its main goal.

“Keeping college graduates in the state helps bring new skills, fresh perspectives that contribute to our local workforce,” Olson said.

Experts say to keep an eye on interest rates as well as the number of homes on the market because that can dictate the demand. Higher demand might mean that the grant money could dry up sooner than later.

Copyright 2024 Dakota News Now. All rights reserved.

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South Dakota

SD Highway Patrol releases new details on hit and run, asks for public’s help

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3 hours ago

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January 10, 2026

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SD Highway Patrol releases new details on hit and run, asks for public’s help


SIOUX FALLS, S.D. (Dakota News Now) – The South Dakota Highway Patrol is continuing to look for the suspect in a deadly hit-and-run near Humboldt, SD.

In a Facebook post, the SD Highway Patrol has released new details regarding the semi suspected of committing the hit and run.

According to police, the semi is a red Freightliner Cascadia semi, missing its passenger-side headlight.

The semi was traveling eastbound from the Humboldt area on I-90 in the early morning hours of Jan. 3, 2026.

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Police are seeking information, video, or pictures from 2:13 a.m. – 3:00 a.m. along I-90 and I-29 from the public.

If you have any tips or footage, contact the South Dakota Highway Patrol District 2 Office at (605) 367-5700.

Copyright 2026 Dakota News Now. All rights reserved.



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Dept. of Agriculture and Natural Resources announces $48 million for statewide projects

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15 hours ago

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January 9, 2026

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Dept. of Agriculture and Natural Resources announces million for statewide projects


SIOUX FALLS, S.D. (Dakota News Now) – The South Dakota Department of Agriculture and Natural Resources (DANR) has the approval of over $48 million in loans and grants for statewide projects.

Together with the Board of Water and Natural Resources, a total of $36,958,000 in state loans, including $425,000 in principal forgiveness, was authorized for drinking water and wastewater improvements.

More funding was distributed to the following programs:

BDM Rural Water:

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  • Received an additional $233,450 in American Rescue Plan Act (ARPA) funds to construct a new water treatment plant, install a new water reservoir, install a pipe to expand the water system, and replace water meters

Clay Rural Water:

  • Received $334,250 in ARPA grant funds to construct two ground storage reservoirs near the Greenfield reservoir and the Wakonda Water Treatment plant

Mid-Dakota Rural Water System:

  • Received $917,357.85 in ARPA grant to update the existing water system

Mitchell:

  • Received $3,930,000 in Clean Water State Revolving Funds to upgrade the clay sanitary and storm sewer

Rapid City:

  • Received a $14,512,000 Drinking Water State Revolving loan to make improvements to an existing well and also construct two new wells

Shared Resources:

  • Received $1,500,000 in ARPA grant funds for a treatment plant, well field, distribution pipeline, and two storage tanks

Sioux Falls:

  • Received $7,648,000 to complete a third connection to the Lewis and Clark Regional Water System
  • Received $17,746,000 to construct a new Southeast Basin sanitary force main

South Lincoln Rural Water System:

  • Received $328,250 in ARPA funds to install an elevated water tank, new pump station, and new water treatment plant

South Dakota Department of Agriculture and Natural Resources:

  • Received $1 million in ARPA funds for its statewide Riparian Buffer Initiative

Toronto:

  • Received $770,000 Drinking Water Revolving Loan to accommodate the Department of Transportation installing new storm sewers and highway surfacing

These programs are funded through a combination of federal appropriations, loan repayments, and bonds.

The board approved the funding during a January 8 meeting in Pierre.

Copyright 2026 Dakota News Now. All rights reserved.



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South Dakota

SD Lottery Lucky For Life winning numbers for Jan. 8, 2026

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1 day ago

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January 9, 2026

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The South Dakota Lottery offers multiple draw games for those aiming to win big. Here’s a look at Jan. 8, 2026, results for each game:

Winning Lucky For Life numbers from Jan. 8 drawing

05-12-13-39-48, Lucky Ball: 13

Check Lucky For Life payouts and previous drawings here.

Feeling lucky? Explore the latest lottery news & results

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Are you a winner? Here’s how to claim your prize

  • Prizes of $100 or less: Can be claimed at any South Dakota Lottery retailer.
  • Prizes of $101 or more: Must be claimed from the Lottery. By mail, send a claim form and a signed winning ticket to the Lottery at 711 E. Wells Avenue, Pierre, SD 57501.
  • Any jackpot-winning ticket for Dakota Cash or Lotto America, top prize-winning ticket for Lucky for Life, or for the second prizes for Powerball and Mega Millions must be presented in person at a Lottery office. A jackpot-winning Powerball or Mega Millions ticket must be presented in person at the Lottery office in Pierre.

When are the South Dakota Lottery drawings held?

  • Powerball: 9:59 p.m. CT on Monday, Wednesday, and Saturday.
  • Mega Millions: 10 p.m. CT on Tuesday and Friday.
  • Lucky for Life: 9:38 p.m. CT daily.
  • Lotto America: 9:15 p.m. CT on Monday, Wednesday and Saturday.
  • Dakota Cash: 9 p.m. CT on Wednesday and Saturday.

This results page was generated automatically using information from TinBu and a template written and reviewed by a South Dakota editor. You can send feedback using this form.



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