The Best Mortgage Lenders in Saint Francis, SD
Compare verified mortgage lenders serving Saint Francis, South Dakota. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Saint Francis
Featured Mortgage Lenders
Dacotah Bank Mortgage Team
Dacotah Bank
Dacotah Bank stands as one of South Dakota's most established and respected regional lenders with deep roots serving rural communities across the state. While headquartered in Aberdeen, they have extensive experience serving the Saint Francis area and understand the unique needs of rural South Dakota homebuyers. Their mortgage team receives exceptional ratings for personalized service, local decision-making, and expertise with USDA rural development loans that are particularly relevant for the Saint Francis market. With over a century of community banking experience, they offer competitive rates and have built a reputation for making the mortgage process smooth and transparent.
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Plains Commerce Bank Mortgage Division
Plains Commerce Bank
Plains Commerce Bank has developed a strong reputation across South Dakota for their agricultural and rural lending expertise, making them an excellent choice for the Saint Francis area. Their mortgage division specializes in serving smaller communities and understands the unique aspects of rural property financing. They receive consistently high marks for their responsive service, knowledgeable loan officers, and competitive rates for both purchase and refinance transactions. The bank has particular strength in construction and land loans, which are common needs in rural South Dakota markets.
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Black Hills Federal Credit Union Mortgage Services
Black Hills Federal Credit Union
As South Dakota's largest credit union, BHFCU has a statewide presence and serves members throughout the Saint Francis area with competitive mortgage products and exceptional member service. They consistently earn high customer satisfaction ratings for their low fees, competitive interest rates, and personalized approach to mortgage lending. Their loan officers have particular expertise with first-time homebuyer programs and USDA rural housing loans that are well-suited for the Saint Francis market. With decades of experience serving South Dakota communities, they offer the combination of local understanding and financial strength that rural homebuyers value.
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Frequently Asked Questions
Common questions about mortgage lending in Saint Francis, SD
Are there any special mortgage programs for first-time homebuyers in Saint Francis, SD?
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 Saint Francis, where local incomes may be lower than state averages, helping residents achieve homeownership with more affordable entry costs.
How does the rural nature of Saint Francis and Todd County affect the mortgage process?
Due to its location in a persistent poverty county, Saint Francis may qualify for certain USDA Rural Development loans with 100% financing and no down payment. However, appraisals can be more complex due to fewer comparable home sales, so working with a lender experienced in rural South Dakota properties is crucial.
What are typical mortgage rates and closing costs like in Saint Francis compared to larger South Dakota cities?
While base interest rates are similar statewide, Saint Francis may see slightly higher rates or adjustments due to its smaller, more remote market. Closing costs can also be influenced by the need for specialized appraisers or inspectors traveling to the area, potentially adding minor fees not found in Sioux Falls or Rapid City.
Are there property tax considerations in Saint Francis that I should factor into my mortgage payment?
Yes, Todd County has its own property tax rates, which are generally lower than more urbanized areas of South Dakota. When calculating your total monthly mortgage payment (PITI), you'll find the property tax portion is relatively affordable, but it's important to get an accurate estimate from the Todd County Director of Equalization.
What local Saint Francis resources can help me prepare for the mortgage application process?
The Lakota Funds, a Native CDFI based in nearby Kyle, SD, offers homebuyer education and counseling specifically tailored for the Oglala Lakota Sioux Tribe members and residents of the area, including Saint Francis. Additionally, local banks and credit unions like First Western Bank have branches familiar with the unique economic landscape of the Rosebud Reservation region.
Why Choose a Mortgage Lender in Saint Francis?
Local Market Knowledge
Lenders who understand Saint Francis'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 Saint Francis and get competitive rates on your home loan.