Home Mortgage Lenders Rapid City 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 Rapid City and information on home mortgage rates, home loans, and mortgage calculators.

Financial Freedom Senior Funding Corp
(605) 348-1364
1160 Duffer Dr
Rapid City, SD
 
Pioneer Bank - Trust
(605) 341-2265
2001 W Omaha St
Rapid City, SD
 
Allied Home Mortgage Capital Corporation
(605) 718-4300
731 Saint Joseph St Ste 240
Rapid City, SD
 
First Western Federal Savings Bank
(605) 341-1203
402 Main Street
Rapid City, SD
 
Rapid City Telco Fed Credit Union
(605) 342-8522
811 E St Andrew Street
Rapid City, SD
 
Green Tree Servicing LLC
(605) 355-7000
1400 Turbine Drive
Rapid City, SD
 
Cu Mortgage Direct LLC
(605) 721-0675
625 Flormann St
Rapid City, SD
 
Premier Home Mortgage Inc
(605) 716-7373
1220 Mount Rushmore Rd Ste 2
Rapid City, SD
 
Dacotah Bank
(605) 394-9000
125 Main St
Rapid City, SD
 
Highmark Federal Credit Union
(605) 343-4776
725 5Th Street
Rapid City, SD
 

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)