These loans generally begin with an interest rate that is 2-3 percent below a comparable fixed rate mortgage, and could allow you to buy a more expensive home. If you are thinking of buying or refinancing a property in the states of South Dakota or Iowa, we encourage you to apply on line here, give us a call, stop into one of our branches, or visit one of our participating Credit Unions to experience a smooth home loan process.
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CU Mortgage Direct LLC is a South Dakota Limited Liability Company, NMLS# 198895. We are a mortgage banker/direct lender for all types of home loans. Since we are owned by credit unions, we have a strong financial backing and we can pass that savings on to you. With over 150 years of combined experience, we can help you obtain the right loan.
A good first step in the mortgage process is to determine a monthly mortgage payment that will fit into your current budget. Find out what information you will need to prepare for your first meeting. Find out more about what happens next in the approval process. See what lenders really look at when considering you for a loan.
Conventional loans are secured by government sponsored entities such as Fannie Mae and Freddie Mac. Conventional loans can be made to purchase or refinance homes, single family to four family homes. These loans generally begin with an interest rate that is 2-3 percent below a comparable fixed rate mortgage, and could allow you to buy a more expensive home.
Another way to make a refinance work is for you is to refinance for more than the balance remaining on your old mortgage. With today's low rates, you can tap into your equity without increasing your monthly payment. By switching to a fixed rate loan, it is possible to reduce your payment and lock in at an attractive rate for as long as you own your home.
If you need to borrow money, home equity lines may be one useful source of credit. Initially at least, they may provide you with large amounts of cash at relatively low interest rates and they may provide you with certain tax advantages unavailable with other kinds of loans. Some second mortgage loans may extend for as long as 15 or 20 years; others may require repayment in one year.
Reviews (3)
Serena & Taylor
Mar 30, 2021
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Our experience with this bank was horrible from start to finish. There was no communication, there were things overlooked that should never have happened, our lender was consistently rude with us. I did my best to be nice after being ignored for over a month, but I would never recommend this place to anyone.
Jerrica Gilbert
Jun 16, 2020
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Seth Draaay
Oct 30, 2015
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