The Best Mortgage Lenders in Arlington, SD
Compare verified mortgage lenders serving Arlington, South Dakota. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Arlington
Featured Mortgage Lenders
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is a top-rated lender with a strong presence in South Dakota, serving Arlington and surrounding areas. Known for competitive rates and exceptional customer service, they have numerous awards and high customer satisfaction ratings. Their local Sioux Falls office provides personalized service, and they offer a wide range of loan products with efficient processing. With over 28 years in business, they have built a reputation for reliability and community involvement.
Loan Types:
New American Funding
New American Funding
New American Funding is a highly regarded mortgage lender with a regional office in Sioux Falls that serves Arlington, SD. They are praised for their diverse loan options, including programs for first-time homebuyers and underserved communities. With a 4.6 rating from hundreds of reviews, they excel in customer service, offering bilingual support and flexible terms. Founded in 2003, they have a strong track record of closing loans quickly and have received industry accolades for innovation and customer satisfaction.
Loan Types:
LoanDepot
LoanDepot
LoanDepot is a reputable national lender with a local presence in Sioux Falls, providing mortgage services to Arlington, SD. They offer a user-friendly digital experience combined with personalized support, resulting in high customer ratings for convenience and competitive rates. With 14 years of experience, they have funded over billions in loans and are known for their quick approval times and variety of loan products. Their commitment to customer education and transparent processes makes them a trusted choice in the region.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Arlington, SD
What are the current mortgage rates like in Arlington, SD, and how do they compare to national averages?
Mortgage rates in Arlington, SD, typically align closely with national averages, as they are driven by broader economic factors. However, local lenders may offer competitive rates, and it's wise to compare offers from regional banks and credit unions like Dacotah Bank or First Dakota National Bank, which have a strong local presence and understanding of the Arlington market.
Are there any down payment assistance or first-time homebuyer programs specifically for Arlington residents?
Yes, the South Dakota Housing Development Authority (SDHDA) offers several programs, such as the First-Time Homebuyer program and the Mortgage Revenue Bond program, which are available to eligible Arlington buyers. These can provide competitive interest rates, down payment assistance, and closing cost help, making homeownership more accessible in Arlington's affordable market.
How does Arlington's rural location and smaller market affect the mortgage appraisal process?
In Arlington's smaller, rural market, appraisals can sometimes be challenging due to fewer comparable home sales ("comps"). Lenders may need to look at properties in nearby towns like Brookings or Lake Preston. It's important to work with a local lender familiar with Kingsbury County who can ensure the appraiser has appropriate local expertise to accurately value your property.
What types of properties are most common for mortgages in Arlington, and does this affect loan choices?
Arlington primarily features single-family homes, often on larger lots, and some older, historic properties. For standard homes, conventional loans are common. If you're considering a property with acreage or a unique building, a local lender can help navigate any specific requirements, as some government-backed loans have restrictions on land size and property type.
Are there any local property tax considerations or programs in Arlington that impact mortgage planning?
Yes, South Dakota offers property tax relief programs for eligible homeowners, such as the Assessment Freeze for the Elderly and Disabled. While Arlington's property taxes are generally reasonable, understanding these programs and how they affect your overall monthly housing payment is crucial. Your lender or a local real estate agent can provide specific tax rate information for your prospective property.
Why Choose a Mortgage Lender in Arlington?
Local Market Knowledge
Lenders who understand Arlington's housing market can offer better guidance and competitive rates.
Multiple Loan Options
Access to conventional, FHA, VA, USDA, and jumbo loans tailored to your financial situation.
Proven Track Record
Work with lenders who have years of experience and hundreds of satisfied customers in South Dakota.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Arlington and get competitive rates on your home loan.