Home Mortgage Lenders Mitchell SD

With the money borrowed from the home mortgage lenders at banks, a home buyer can own a house without paying much money up front. See below to learn more and to gain access to home mortgage lenders in Mitchell and information on home mortgage rates, home loans, and mortgage calculators.

First National Bank South Dakota
(605) 996-7755
210 N Lawler
Mitchell, SD
 
Journey Mortgage of Mitchell
(605) 996-1102
115 East Havens Street Suite 100
MITCHELL, SD
Services
Mortgage Brokers

First National Bank South Dakota
(605) 996-7755
210 N Lawler
Mitchell, SD
 
BW Financial
(605) 995-5059
Mitchell, SD
 
First Dakota National Bank Mitchell Norway
(605) 996-3364
500 East Norway Avenue
Mitchell, SD
 
First Dakota National Bank
(605) 996-3364
500 E Norway
Mitchell, SD
 
Quality Homes And Finance
(605) 995-6215
1531 West Elm Street
Mitchell, SD
 
US Bank - Mitchell SD Office
(605) 996-5814
1421 N Main
Mitchell, SD
Drive Up Hours
Mon 08:30 am to 05:30 pm
Tue 08:30 am to 05:30 pm
Wed 08:30 am to 05:30 pm
Thur 08:30 am to 05:30 pm
Fri 08:30 am to 05:30 pm
Sat 09:00 am to 12:00 pm

Mortgage Associates of Mitchell
(605) 995-1029
100 West 5th Avenue
MITCHELL, SD
Services
Mortgage Brokers

Quality Homes & Finance
(605) 995-6215
1531 West Elm Street
MITCHELL, SD
Services
Mortgage Brokers

Energy Efficient Mortgages (Part 2)

An energy efficient mortgage acknowledges that homes that are energy efficient generally cost homeowners less to maintain on a monthly basis as oppose to other standard homes. Buying a energy efficient home allows a homebuyer to be able to spend money on other items for the house because their energy bills will be reduced. Energy Efficient Mortgages (EMM) allows borrowers to take out bigger mortgages because their monthly energy expenses on a energy efficient home won’t be as expensive meaning that they will most likely be able to pay the loan off faster. With a EEM you can also take a standard home and make it energy efficient.

How can a EEM benefit a borrower?

There are several ways a borrower can benefit by taking out an EEM. Well, first the borrower’s income and the estimated energy savings are analyzed allowing the borrower to qualify for a larger mortgage loan. Also the borrower’s buying power is increased permitting the borrower to include the total cost of any energy improvements into the total mortgage loan amount. Then because of the energy improvements the house value is increased.
 

Can Your Home Qualify for A EEM?

Energy Efficient Mortgages can be used for newly constructed homes. Your home must be a single-family, a owner occupied residential , a one unit house or a condominium in order to qualify for a EEM. Before you can take out a EEM you must first have a RESNET report evaluation. The RESNET report determines your home energy efficiency in it’s current state. After a RESNET report is done then you will receive a energy home rating. A energy home rating measures your home energy efficiency. A home energy rater that’s accredited by the RESNET rating system will conduct a home inspection. They will look at things like your home heating and cooling system, window to wall ratios and insulation levels just to mention a few. Then you will receive a energy rating score between 1 to 100.
 
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South Dakota Mortgage Licensing Body

Website: www.state.sd.us

Phone: (605) 773-3421

State: South Dakota

Licensed By: SD Division of Banking

Additional Info: SD Division of Banking http://www.state.sd.us/drr2/reg/bank/BANK-HOM.htm (605) 773-3421 (SD is licensed through the NMLS)