Loan Options

Picture your perfect home. Does it have a big front yard? A two-car garage for your main ride and your not-so-necessary second ride? Sioux Falls Federal Credit Union (SFFCU) is here.

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Conventional Fixed-Rate Loans

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.

  • Same payment amount every month
  • Different terms available
  • Purchase or refinance

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Conventional Adjustable-Rate Mortgage (ARM)

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 and payments
  • Initial, subsequent and lifetime rate caps apply
  • No prepayment penalty required
  • Purchase or refinance

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Construction/Lot Loans

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

  • No down payment
  • Extremely low rates
  • Term up to 9 months
  • Flexible Origination Fee options

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Home-Equity Loans

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)

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FHA Loans

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.

  • Low down payment
  • Lower rates

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VA Loans

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

  • Available to veterans
  • Up to 100% financing
  • Lower rates

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First-Time Homebuyer Loans

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).

  • First time home buyer, meaning you have not owned a home in the last 3 years
  • Low down payment
  • Income limits apply
  • The purchase price must be less than $250,200

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Repeat Homebuyer Loans

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.

  • Low fixed rate
  • Down payment and closing cost assistance
  • Reduced mortgage assistance
  • Less paperwork

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Rural Development Loans

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.

  • Available to those looking to purchase a home outside of metropolitan areas, specifically for rural areas and towns with a population less than 35,000
  • Up to 100% financing
  • Income limits apply

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