The Best Mortgage Lenders in Buffalo, SD
Compare verified mortgage lenders serving Buffalo, South Dakota. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Buffalo
Featured Mortgage Lenders
Plains Commerce Bank
Plains Commerce Bank
Plains Commerce Bank is a highly-rated regional lender serving South Dakota with over two decades of experience. They are known for personalized service, competitive mortgage rates, and deep community involvement in the Buffalo area. Their commitment to local customers and extensive loan options make them a top choice for homebuyers in rural regions.
Loan Types:
Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a top-rated national mortgage lender with an A+ BBB rating, offering a wide range of loan products and a streamlined digital mortgage experience. They serve Buffalo, SD with competitive rates, fast approvals, and excellent customer service, backed by thousands of positive reviews.
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New American Funding
New American Funding
New American Funding is a reputable mortgage lender with strong customer satisfaction ratings, offering diverse loan options and a commitment to serving diverse communities, including rural areas like Buffalo, SD. They are praised for their responsive service, competitive rates, and efforts to increase homeownership accessibility.
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Frequently Asked Questions
Common questions about mortgage lending in Buffalo, SD
What are typical mortgage rates for homebuyers in Buffalo, SD, and how do they compare to national averages?
Mortgage rates in Buffalo, SD, generally align with national averages, but local lenders may offer competitive rates due to the community-focused banking environment. It's common to see rates slightly lower than in larger South Dakota cities like Sioux Falls, as Buffalo's lower population density can reduce some lender overhead costs. Shopping with local banks and credit unions is key to finding the best deal.
Are there any down payment assistance or first-time homebuyer programs specific to Buffalo or Harding County?
While Buffalo itself doesn't have a city-specific program, South Dakota's statewide First-Time Homebuyer Program, administered by the South Dakota Housing Development Authority (SDHDA), is widely accessible here. This program offers competitive interest rates, down payment assistance, and favorable terms for qualifying buyers in Buffalo. Additionally, some local lenders may offer their own grants or special loan products for rural homebuyers.
How does Buffalo's rural location and smaller market affect the mortgage appraisal process?
Appraisals in Buffalo can be more challenging due to fewer recent comparable home sales ("comps") in the immediate area. Appraisers may need to look at properties in a wider radius or older sales, which can occasionally impact the appraised value. Working with a lender experienced in rural South Dakota properties is crucial, as they understand how to properly underwrite loans in markets with limited transaction volume.
What should I know about property types and loan considerations specific to buying a home in Buffalo, SD?
Many properties in and around Buffalo include larger lots, acreages, or agricultural outbuildings. It's important to communicate the exact property details to your lender, as financing for homes on significant land (over 10 acres) or with non-standard features may require a specialized rural or agricultural loan product rather than a standard conventional mortgage.
Are USDA Rural Development loans a common and good option for mortgages in Buffalo, South Dakota?
Yes, USDA loans are an excellent and very common option for Buffalo homebuyers, as the entire town qualifies for the USDA's rural housing program. These loans offer 100% financing (no down payment), competitive rates, and are ideal for low-to-moderate income buyers purchasing a primary residence in this designated rural area, making homeownership more accessible.
Nearby Cities
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Why Choose a Mortgage Lender in Buffalo?
Local Market Knowledge
Lenders who understand Buffalo'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 Buffalo and get competitive rates on your home loan.