First Premier Bank offers various types of Loan Programs. They include Conventional Loans which is the most traditional way to finance a new home. Down payments vary depending on the loan program and terms range from 10 - 40 years. In addition to Conventional loans Government Loans such as FHA (Federal Housing Administration) are used by many first time home buyers, require a low down payment, VA loans are available to veterans, active duty military personnel and National Guard members. This loan is guaranteed by the Department of Veterans Affairs and requires no down payment. Rural Development loans guaranteed by the US Department of Agriculture assist home purchases in rural communities and require no down payment. Home Construction Financing is a short-term loan to finance construction costs. South Dakota Housing Development Authority (SDHDA) is a first time home buyer program.