Section 11-11-99 - Loans to homeowners to cover initial costs. - South Dakota Statutes

11-11-99. Loans to homeowners to cover initial costs. The authority may make loans, with or without interest, or grants, to eligible housing sponsors of single family residential housing to defray down payment costs and charges on mortgage loans purchased or made by the authority. If loans are made, such loans may be made on a secured or unsecured basis and, if secured, may be subordinated to other mortgage loans made by the authority or other mortgage lenders.

Source: SL 1973, ch 180, § 12 (27); SDCL Supp, § 28-19-90; SL 1974, ch 195, § 3; SL 1983, ch 106, § 3; SL 1995, ch 80, § 14.