Dakota Land Trust (DLT) Program

Dakota Land Trust (DLT) Program

Overview: Program where Dakota Land Trust buys the land and qualified buyers purchase the house with a 99-year lease agreement for the land, significantly reducing monthly housing costs.

Program Structure

• Land Ownership: Dakota Land Trust purchases and owns the land
• Home Ownership: Buyer purchases the house
• Lease Agreement: 99-year land lease
• Monthly Lease Payment: $25/month for land

Financial Benefits Example

• Estimated lot cost: $25,000
• Traditional financing (30 years, 3.50% rate): $112.26/month
• DLT lease payment: $25.00/month
• Estimated monthly savings: $87.26

Eligibility

• Income Limit: 80% AMI (Area Median Income)
- 1 person: below $39,550 - 2 person: below $45,200 - 3 person: below $50,850 - 4 person: below $56,500
• Income limits may vary, contact NeighborWorks for current limits

Requirements

• Required: NeighborWorks Homebuyer Education (HBE) course (available online or in-person, free)

Geographic Scope

• South Dakota

Contact Information

• Phone: 605-578-1401
• Email: info@nwdhr.org
• Address: 795 Main Street, Deadwood, SD 57732