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Lyons, SD

The Best Mortgage Lenders in Lyons, SD

Compare verified mortgage lenders serving Lyons, South Dakota. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.

3
Top Lenders
4.7
Avg Rating
750+
Reviews
9
Loan Types

Available Loan Programs in Lyons

Conventional
FHA
VA
USDA
Jumbo
Refinance
Construction
Land
HELOC

Featured Mortgage Lenders

1

First PREMIER Bank Mortgage

First PREMIER Bank

★★★★☆
4.8/5

First PREMIER Bank is one of South Dakota's most established and highly-rated mortgage lenders with a strong statewide presence. They have exceptional customer satisfaction ratings and specialize in serving both urban and rural South Dakota communities like Lyons. Their mortgage team offers personalized service with competitive rates and a wide range of loan products, including USDA loans which are particularly valuable for rural homebuyers in areas like Lyons. With deep roots in South Dakota banking since 1916, they understand the local market dynamics and provide reliable, trustworthy mortgage services.

Experience:30+ years
Reviews:200 customer reviews
601 S. Minnesota Avenue, Sioux Falls, SD 57104

Loan Types:

ConventionalFHAVAUSDAJumboRefinanceConstruction
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2

Plains Commerce Bank Mortgage

Plains Commerce Bank

★★★★☆
4.7/5

Plains Commerce Bank has built an outstanding reputation for mortgage lending throughout eastern South Dakota, serving rural communities like Lyons with expertise in agricultural and residential properties. They consistently receive high marks for customer service and offer specialized knowledge in rural property financing. Their mortgage team provides personalized attention and competitive rates, with particular strength in construction loans and rural development loans that benefit homeowners in smaller communities. Their commitment to local service and extensive experience with South Dakota property types makes them an excellent choice for Lyons residents.

Experience:22 years
Reviews:150 customer reviews
2121 W. 41st Street, Sioux Falls, SD 57105

Loan Types:

ConventionalFHAVAUSDAConstructionLandRefinance
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3

Wells Fargo Home Mortgage

Wells Fargo Bank, N.A.

★★★★☆
4.5/5

Wells Fargo maintains a strong physical presence in South Dakota with multiple branches and mortgage offices throughout the state, providing reliable service to Lyons and surrounding communities. They offer comprehensive mortgage solutions with the backing of a national lender's resources while maintaining local expertise. Their extensive experience with USDA rural development loans makes them particularly well-suited for serving Lyons homebuyers. Despite being a large national bank, their local mortgage consultants provide personalized service and deep knowledge of South Dakota's housing market, with consistently strong customer satisfaction ratings for their mortgage services in the region.

Experience:170+ years
Reviews:400 customer reviews
300 N. Dakota Avenue, Sioux Falls, SD 57104

Loan Types:

ConventionalFHAVAUSDAJumboRefinanceHELOC
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Frequently Asked Questions

Common questions about mortgage lending in Lyons, SD

What are typical down payment requirements for homes in Lyons, SD, given the lower average home prices?

While standard loans often require 3-5% down, the lower median home price in Lyons and Deuel County can make a 20% down payment more attainable to avoid Private Mortgage Insurance (PMI). Many local lenders also offer USDA Rural Development loans, which require **0% down** for eligible properties and buyers in this qualifying rural area, making homeownership very accessible.

Are there any local or state-specific first-time homebuyer programs beneficial for purchasing in Lyons?

Yes, the South Dakota Housing Development Authority (SDHDA) offers the *First-Time Homebuyer* program, which provides competitive fixed-rate mortgages and down payment assistance. This is particularly valuable in Lyons, as it can be combined with the favorable pricing of homes in the area to significantly reduce upfront costs for eligible buyers.

How does the property type common in Lyons (e.g., older homes, acreages) affect the mortgage process?

Purchasing an older home or a property with acreage in Lyons may require a more thorough appraisal and specific inspections (like well and septic for rural parcels). Lenders might have stricter requirements for these property types, so it's crucial to work with a local loan officer experienced in rural South Dakota properties to navigate any potential hurdles.

What is the advantage of a USDA loan for buying a home in Lyons, and who qualifies?

Lyons is located in a USDA-eligible rural zone, making USDA loans a premier option. These loans offer 100% financing (no down payment) and competitive rates. Eligibility is based on the property location, household income (which must fall under the limit for Deuel County), and the home being your primary residence, criteria many Lyons buyers can meet.

How do property taxes in Deuel County impact the overall monthly mortgage payment in Lyons?

Deuel County has relatively modest property tax rates compared to national averages. When calculating your total monthly payment (PITI), your lender will escrow for these taxes. The lower tax burden in the area can make the overall monthly mortgage payment more affordable, which is a key factor in budgeting for a home in Lyons.

Nearby Cities

Explore mortgage lenders in cities near Lyons, SD

Why Choose a Mortgage Lender in Lyons?

Local Market Knowledge

Lenders who understand Lyons'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 Lyons and get competitive rates on your home loan.