With you every step of the way.
Congratulations on taking the exciting step towards home ownership.
Purchasing a home.
A first-time homebuyer is someone purchasing their primary residence for the first time. This can also include those who haven’t owned a home in three years. Many qualify for government assistance, and certain lenders offer special benefits and loan terms. You may qualify for special benefits like lower down payments and assistance with closing costs. Explore the various programs available and take advantage of the incentives offered by lenders.
Step 1: Getting Pre-Qualified
The first step to purchasing a new home or refinance is to fill out an application.
Step 2: Processing
Your home is within reach! We will help you finalize the application details, getting you closer to crossing the threshold of your new home.
Step 3: Underwriting
Once your loan file is complete, it is submitted to an underwriter for review. Lock in your rate and finalize details.
Step 4: Closing
You are now in the final step. Home ownership is just around the corner.
Homebuyers Assistance Programs
South Dakota Housing General Program Requirements:
- Are a first-time homebuyer, meaning you have not owned a home in the past three years.
- Have an income at or below prescribed South Dakota Housing Income Limits.
- The purchase price must be $385,000 or less.
NDHFA General Program Requirements:
- All of our programs require a $500 out-of-pocket cash investment.
- You must occupy the home as your principal residence.
- Household income must be below a specific income limit according to program requirements.
- You must not have owned a home as your principle residence within the last three years.
- You must meet income and purchase price limits.
Minnesota Housing General Program:
Minnesota Housing offers a variety of loan programs for first-time and repeat homebuyers and refinancing to help make owning a home more affordable.
Minnesota Housing works with participating lenders, like Dacotah Bank, who can answer questions about program eligibility and help you learn about the features of our programs, including downpayment and closing cost loan options up to $18,000. Apply for a Minnesota Housing loan with a Dacotah Bank Mortgage Lender today.
Ready to get started?
Our mortgage team is available to take the worry out of your financing today. Contact a Mortgage Banker
With plenty of questions as a first home buyer, I received the greatest of assistance from Courtney Pardon and the people at Dacotah Bank. She even went above and beyond to respond to late night texts and emails to make sure I was at ease throughout the process. Dealing with the HOA at my condo with their lack of communication must have been a trial. However, Courtney was always kind and gracious to myself and the people she had to deal with. A professional at heart and a great company to work with, I would recommend Dacotah Bank to all.
Mortgage Banker - NMLS#1809821
