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Home Loans

Mediocre mortgages are a dime a dozen. That’s why Sioux Falls Fed flips the script—we have local underwriting, speedy qualification decisions and minimal fees and interest rates. Let’s talk about what the Sioux Falls Fed mortgage team can do for your home purchasing goals.

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The sioux Falls Fed Difference

NoClosingCostsOptions

Why pay more when you sit down at the closing table? We’re giving you options to say “so long” to closing costs when you apply for certain home loans with Sioux Falls Fed.*

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Low Fees

Low Fees

Sioux Falls Fed keeps the fees associated with financing a home sensible and minimal. Our origination fee is just 0.75% of the loan amount.
Speedy Decisions

Speedy Decisions

We don’t leave you hanging on our prequalification decisions—you know your approval status when you meet with your loan officer.
Local Underwriting

Local Underwriting

Our local team features an underwriting pro who can make the qualification process smooth, simple and speedy.

Financing Options for All Situations

What Describes You?

Conventional, Fixed-Rate Loan

Loan Overview

Payments you can count on—our fixed-rate loans are offered in a variety of terms with a monthly payment that stays put for the life of the loan.

  • Predictable monthly payments
  • Lifetime lock-in of interest rate
  • For purchase or refinance

A good fit if...

  • I plan to own my home long-term
  • I recently graduated from college
  • I am active military or a veteran
  • I am first time home buyer

Apply Now

Conventional Adjustable-Rate Loan

Loan Overview

Planning a short stay? Take advantage of low early rates if you have the wherewithal to pay off your loan early and often. It’s a decent option for a short-term residency.

  • Low initial rates, payments
  • Rate fluctuates with market
  • For purchase or refinance

A good fit if...

  • I plan to own my home short-term

Apply Now

Construction Loan

Loan Overview

Break ground on your ideal home—let us help you with your building project, start to finish.

  • No down-payment required
  • Flexible fee structures
  • Competitively low interest rates

A good fit if...

  • I plan to own my home long-term

Apply Now

Home Equity

Loan Overview

You've put time and money into making your house a home, and those payments you've made have increased the equity. Now it's time to let your home give something back.

  • Make improvements
  • Fund travel expenses
  • Consolidate debt
  • Potentially deduct the interest on your taxes (consult your tax adviser)

A good fit if...

  • You own a home and have built equity

Apply Now

Limited Time Special Offer

FHA Loan

Loan Overview

Lack of down-payment funds or an imperfect credit score don’t need to keep you from buying a home. Get mortgage funding for low to moderate earners.

  • Minimal down-payment required
  • Competitively low interest rates
  • Low credit score barrier to entry

A good fit if...

  • I recently graduated from college
  • I am active military or a veteran
  • I live in a rural area and am low-income

Apply Now

VA Loan

Loan Overview

You served—let us serve you. Veterans and military families can take advantage of mortgages with low monthly payments and no down payment required.

  • Low monthly payments
  • No down-payment required
  • Meant for active military or veterans and families

A good fit if...

  • I am active military or a veteran

Apply Now

First-Time Homebuyer Loan

Loan Overview

Get your foot in the door—this assistance program offers manageable interest and down-payment help for low- to middle-income households, with the option to earn a Mortgage Credit Certificate (MCC).

  • Down-payment assistance options
  • Competitive interest rates
  • Possible tax credits available

A good fit if...

  • I recently graduated from college
  • I am active military or a veteran
  • I live in a rural area and am low-income
  • I have not owned a home for at least 3 years

Apply Now

Inquire about Grants for Grads

  • 5% of loan amount granted for money down or closing
  • Designed for first-time buyers graduated within 5 years

A good fit if...

  • I recently graduated from college

Repeat Homebuyer Loan

Loan Overview

Help isn’t just for the first-timers—this down-payment and mortgage assistance program provides reasonable financial options for those buying again who meet certain income standards.

  • Down-payment assistance options
  • Competitive interest rates
  • Closing-cost assistance options

A good fit if...

  • It's not my first time buying-but I could use financial assistance

Apply Now

 

Rural Housing Loan

Loan Overview

If country living is more your speed, we can help fund your home purchase in rural South Dakota. Bonus? Affordable rates for low to moderate earners.

  • Affordable rates for low to moderate earners
  • Meant for rural areas of less than 35,000 people

A good fit if...

  • I plan to own my home long-term
  • I recently graduated from college
  • I am active military or a veteran
  • I am a first-time homebuyer

Apply Now

HOW TO BUY A HOME

THERE'S A CHECKLIST TO GET YOU THROUGH IT

The home buying journey means checking a lot of boxes on your to-do list—from getting pre-approved for a mortgage to closing on your perfect place to call home, and all the steps in between.
Complete the form to download the Homebuyer's Guide

Sioux Falls Fed Homebuyer's Guide

MOVE LIKE A CHAMP

GET YOUR HOMEBUYER'S GUIDE TODAY

 

 

Know your options

 

Manageable Rates

How do everyday low rates without the veiled gimmicks sound? That’s what SFFCU can offer, whether you’re after a conventional mortgage, a home-equity loan or a lot loan.

See Current Rates

Calculate Your Potential

Our home lending options come in a variety of shapes and sizes. Calculate where your loan might go:

Calculate
We're ready when you are.

Meet The Team

 

Reading Material

Further Insights in Homeownership

Happy Young Homeowners

8 Tips for Mortgage First-timers

There’s a first time for everything—but securing your first mortgage doesn’t have to be impossible. Learn More
Couple with Moving Boxes

How to be a Sioux Falls Homebuyer

Before you purchase your first home in Sioux Falls, take a peek at our guide to prepping your big step. Learn More
Hands Woodworking on a Home Project

5 Things you need to know about home-equity lines of credit

Renovating? Consolidating debts? A HELOC might be something to consider. Learn More

Ready to get prequalified?

Apply Now

*Offer applies to first mortgages only. Offer excludes Construction/Lot Loan, Home Improvement Loans, Home Equity, and Home Equity Lines of Credit. All expenses not specified herein, including, without limitation, all federal, state and local taxes, are member’s sole responsibility. Equal Housing Lender. NMLS 441310

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