Establishes a manufactured housing downpayment assistance program in South Dakota.

The bill creates a manufactured housing downpayment assistance program in South Dakota. It allows eligible applicants to receive a loan of up to $10,000 for a downpayment on a manufactured or mobile home. To qualify, applicants must have a household income not exceeding 120% of the state area median income and must use the loan to purchase a home that complies with safety and zoning requirements. The loan is secured by a second lien on the home, at a zero percent interest rate, and is due upon the sale of the home or satisfaction of the first lien.

Establishes a manufactured housing downpayment assistance program in South Dakota.

The bill creates a manufactured housing downpayment assistance program in South Dakota. It allows eligible applicants to receive a loan of up to $10,000 for a downpayment on a manufactured or mobile home. To qualify, applicants must have a household income not exceeding 120% of the state area median income and must use the loan to purchase a home that complies with safety and zoning requirements. The loan is secured by a second lien on the home, at a zero percent interest rate, and is due upon the sale of the home or satisfaction of the first lien.