Welcome, First-Time Homebuyer!

You're one step closer to owning a new home.

The Plains Commerce Bank team is excited to help you take the next step toward getting your first home. We know it can be an overwhelming process, so we’ve gathered some quick advice from our mortgage experts to help you get started.

If you feel confident with the process, but are looking for a reputable, local mortgage banker in South Dakota, apply with us today! Otherwise, read on.

Why is now a good time to buy?

1. You can lock your interest rate while it's low.

Maybe you’ve heard commercials or seen ads about low interest rates on mortgages. (Maybe you’ve even heard ours?) If you want to buy a home within the next 90 days, you should consider locking today’s interest rate. Rates can change at any time, so when they’re low like they are now, it’s time to make your move. 

A low interest rate saves you money over the life of your home loan. If you want to spend less on your mortgage bill each month, low rates can help! 

Your rate will depend on the loan program you choose, and there are many options for first-time homebuyers. (More on that next.)

How do you lock in your rate?

Start by getting prequalified for a mortgage. It’s that simple. 

2. You may qualify for the SD First-Time Homebuyers program.

This program is helping more renters become homeowners. You don’t need a 20% down payment to buy a home like your parents before you. With this program, you may be able to get a mortgage with no down payment and a low interest rate. To qualify:

• You and anyone signing the mortgage must be a first-time homebuyer 
• You must not have owned a home in over 3 years (if this is not your first home)
• You must not exceed certain income limits, which vary by county

This program offers a great opportunity for help with your down payment - find out if you qualify today.

How do I know if this program is right for me?

Learn more by getting prequalified for a mortgage. Applying is simple and we won’t charge you to get pre-qualified.

Talk to someone who wants to help.

Our mortgage bankers give great advice, and they won’t charge you for their time. They’re here to help you make the right decision. That’s their job!

They’ll walk you through the entire process of getting a home loan. Call 1.877.227.7548 (8 a.m. - 5 p.m., Monday through Friday) to get pre-qualified. Or, apply online anytime and we’ll follow up with you.