605.334.2471 800.568.5711
Online Banking

Take Advantage of today's low rates.

Start your FREE pre-qualification today!

South Dakota Housing

As a first time homebuyer, you have an exciting journey ahead.  We understand the experience of applying for your first mortgage loan and making your way through the housing market can be overwhelming.  We want your first home purchase experience to be a good one.

The First‐time Homebuyer Program provides low interest mortgage loans to eligible homebuyers purchasing a home in the State of South Dakota.  There are several interest rate and program options available.

  • Government versus Conventional - Interest rates are usually quoted in terms of "Government" or "Conventional."  "Government type loans are those that are either insured or guaranteed by an entity of the federal government where as "Conventional" type loans either have private mortgage insurance (PMI) or with a 20% downpayment are not insured at all.  The insurance or guarantee protects the mortgage holder against loss due to non-payment or foreclosure of your loan.  There is a cost to you and your Participating Lender that will explain each type and help you choose which one is best for you. 
  • Fixed Rate Plus - The "Fixed Rate Plus" rate option provides downpayment and closing cost assistance (3% of the loan amount as a gift at the loan closing).  This gift is never repaid!  It does require a slightly higher interest rate.
  • Tax Credit (MCC) - "Tax Credit" refers to the interest rate option that allows you, through a Mortgage Credit Certificate (MCC), to convert some of your mortgage interest into a tax credit each year.  This "Tax Credit" is a dollar-for-dollar reduction in your tax bill and the remaining interest paid is still eligible for the home mortgage interest deduction.

Pre-qualify today with one of our trusted home loan specialists and get an estimate of how much you can comfortable afford.  Then, lock in your low rate as soon as possible.

We're One of South Dakota's Top First Time Homebuyer Lenders

Now is the time to buy your first home.  This is the place to get financing.

The inventory for starter homes in our area is limited.  That's why it's important for you to know that we have an underwriter on staff so we can make fast, local decisions with no outsourcing.

Plus, we charge less for origination fees than anyone in town.

So, if you're paying 1% origination, you're paying too much.

More Options.  Lower Fees.  Lower Rates.  Better Service.

Now is the time to call!



Determine a mortgage payment you are comfortable with, and more!

Our Mortgage Calculators can help you determine what fits your budget, when it pays to refinance, or what converting to bi-weekly payments will save you.