The Best Mortgage Lenders in Brandon, SD
Compare verified mortgage lenders serving Brandon, South Dakota. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Brandon
Featured Mortgage Lenders
Mortgage Department
First National Bank Sioux Falls
As one of South Dakota's most established financial institutions with a branch in Brandon, First National Bank Sioux Falls offers exceptional local mortgage services with deep community roots. Their mortgage team provides personalized service with competitive rates on all loan types, including specialized rural housing loans perfect for the Brandon area. With over 135 years of operation, they combine modern lending technology with traditional relationship banking, earning consistently high customer satisfaction ratings for their responsive service and local underwriting expertise.
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Mortgage Lending Team
The Mortgage Company
This locally owned and operated mortgage broker based in Sioux Falls has been serving the Brandon community for over two decades with exceptional customer service and competitive rates. They specialize in finding the right loan products for each borrower's unique situation, with particular expertise in first-time homebuyer programs and government-backed loans. Their team of experienced loan officers provides personalized guidance throughout the entire process, earning consistently high ratings for their transparency, communication, and ability to close loans efficiently.
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Mortgage Services
Plains Commerce Bank
With an actual physical branch location in Brandon, Plains Commerce Bank provides convenient local mortgage services with the expertise of a regional banking institution. They offer a comprehensive range of mortgage products with special attention to South Dakota's unique housing needs, including agricultural property financing and rural development loans. Their local loan officers understand the Brandon market intimately and provide personalized service with quick decision-making. The bank maintains strong community involvement and has built a reputation for reliable, straightforward mortgage lending with competitive terms.
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Frequently Asked Questions
Common questions about mortgage lending in Brandon, SD
What are the current average mortgage rates for homebuyers in Brandon, SD, and how do they compare to national averages?
Mortgage rates in Brandon typically align closely with national averages, but local lenders may offer competitive rates due to the community-focused banking environment. As of recent trends, rates in the Sioux Falls metro area, which includes Brandon, are often slightly favorable compared to larger coastal markets. It's advisable to check with local credit unions like Sioux Falls Federal Credit Union or regional banks for specific, personalized rate quotes.
Are there any down payment assistance or first-time homebuyer programs specifically available for Brandon residents?
Yes, Brandon homebuyers can access South Dakota's statewide programs, such as the South Dakota Housing Development Authority (SDHDA) First-Time Homebuyer program, which offers competitive interest rates and down payment assistance. Additionally, some local lenders in the Sioux Falls region may have their own community programs or grants aimed at helping buyers in Brandon and Minnehaha County achieve homeownership with lower upfront costs.
How does Brandon's rapid growth and proximity to Sioux Falls impact the mortgage appraisal process?
Brandon's status as one of South Dakota's fastest-growing cities can lead to strong appreciation, but it may also create appraisal challenges if comparable recent sales ("comps") are limited. Appraisers must often look at nearby Sioux Falls or other expanding communities like Harrisburg for comps. Working with a lender familiar with the local Brandon market is crucial to ensure appraisals accurately reflect the home's value in this dynamic environment.
What types of properties are most common for mortgages in Brandon, and does this affect loan options?
Brandon primarily features single-family homes in suburban subdivisions, along with some newer townhomes and acreages. Conventional loans are the most common, but for properties on larger lots or with certain well and septic systems (common in the area), lenders may have specific requirements. USDA Rural Development loans are also a popular option for eligible properties in and around Brandon, offering 100% financing due to its designated rural status.
Are property taxes in Brandon, SD, a significant factor in mortgage qualification, and how are they typically handled?
Property taxes in Brandon and Minnehaha County are a key consideration, as South Dakota has no state income tax but relies more on property and sales taxes. Lenders will include the estimated monthly property tax escrow in your debt-to-income ratio calculation. Brandon's rates are generally competitive within the region, but it's important to get an accurate tax estimate from the Minnehaha County Director of Equalization when budgeting for your total mortgage payment.
Nearby Cities
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Why Choose a Mortgage Lender in Brandon?
Local Market Knowledge
Lenders who understand Brandon'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 Brandon and get competitive rates on your home loan.