The Best Mortgage Lenders in Huron, SD
Compare verified mortgage lenders serving Huron, South Dakota. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Huron
Featured Mortgage Lenders
First Dakota National Bank Mortgage Team
First Dakota National Bank
First Dakota National Bank stands as one of South Dakota's most established and trusted mortgage lenders with a strong physical presence in Huron. With over 150 years of banking history, their local mortgage team provides personalized service and deep community knowledge. They consistently receive excellent ratings for their competitive rates, transparent process, and exceptional customer service. As a community bank with statewide reach, they offer the stability of a large institution while maintaining the personal touch of local decision-making and relationship-based lending.
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Plains Commerce Bank Mortgage Division
Plains Commerce Bank
Plains Commerce Bank has built an outstanding reputation across South Dakota for mortgage lending, including serving the Huron area with competitive products and exceptional service. While headquartered in Sioux Falls, they actively serve customers throughout the state with specialized agricultural and rural property lending expertise that's particularly valuable in the Huron region. Their mortgage team receives high marks for responsiveness, local market knowledge, and streamlined application processes. They're known for working closely with borrowers to find the right loan product and providing clear communication throughout the entire mortgage process.
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Black Hills Federal Credit Union Mortgage Services
Black Hills Federal Credit Union
Black Hills Federal Credit Union consistently ranks among South Dakota's highest-rated mortgage lenders, serving members across the state including the Huron area. With over 80 years of operation, BHFCU has established an exceptional reputation for competitive rates, low fees, and outstanding member service. They receive particularly strong reviews for their first-time homebuyer programs and patient, educational approach to the mortgage process. As a credit union, they operate as a not-for-profit institution, often resulting in better terms and more personalized service than traditional banks. Their digital mortgage application process is highly rated for convenience and efficiency.
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Frequently Asked Questions
Common questions about mortgage lending in Huron, SD
What are the current average mortgage rates in Huron, SD, and how do they compare to state or national averages?
Mortgage rates in Huron 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 Huron are often slightly lower than in larger South Dakota cities like Sioux Falls, due to different market pressures. It's best to check with local credit unions like Huron Federal Credit Union or regional banks for the most current and competitive offers.
Are there any down payment assistance or first-time homebuyer programs specifically available for Huron residents?
Yes, Huron homebuyers can access the South Dakota Housing Development Authority (SDHDA) *First-Time Homebuyer* program, which offers competitive interest rates and down payment assistance. Additionally, the City of Huron may occasionally offer local incentive programs for targeted neighborhood revitalization. Consulting with a local lender familiar with SDHDA guidelines is the best way to navigate these opportunities.
How does the appraisal process work in Huron, given the mix of older historic homes and newer construction?
Appraisals in Huron require appraisers familiar with the local market's unique composition, from well-maintained homes in the historic district to newer builds on the city's outskirts. They will compare your property to recent sales of similar homes in Huron, which can sometimes be limited, making an experienced local appraiser crucial. This ensures an accurate valuation that reflects both the home's condition and Huron's specific market values.
What should I know about property taxes and insurance when calculating my monthly mortgage payment in Huron?
Huron is located in Beadle County, which has a relatively moderate property tax rate compared to other regions. Your lender will estimate these taxes for escrow, but you can get precise figures from the Beadle County Director of Equalization. For insurance, consider that South Dakota's weather risks, including hail and wind, can influence homeowners insurance premiums, which should be factored into your total monthly payment.
Are USDA Rural Development loans a common and viable option for mortgages in Huron, SD?
Absolutely. Huron is eligible for USDA Rural Development loans, which are a popular and advantageous option as they require no down payment for qualified buyers. This program is ideal for Huron's market, making homeownership more accessible given the city's designation. Income limits apply, but many Huron households qualify, making it a key program to discuss with a local USDA-approved lender.
Why Choose a Mortgage Lender in Huron?
Local Market Knowledge
Lenders who understand Huron'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 Huron and get competitive rates on your home loan.