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START YOUR HOMEOWNERSHIP JOURNEY HERE

Imagine living in a home of your own. Dakotaland Federal Credit Union, together with our servicing partner Servion, is making homeownership more accessible by offering affordable mortgage options with low—or even no—down payment requirements. With flexible credit guidelines, low-cost loans, and access to federal, state, and local down payment assistance programs, we’re helping open doors to sustainable, long-term homeownership.

Apply for a Home Loan

BENEFITS OF FIRST-TIME HOME BUYER LOANS

Flexible Down Payments

Think you need to put 20% down to afford a home? Think again. Our financing solutions may allow you to put little or no money down on a new home.

Quick And Simple

Applying for your first home loan is quick and easy, and our expert in-branch mortgage loan officers are here to guide you every step of the way.

Easy Terms

Don’t let worries about your credit score prevent you from applying. We offer a range of mortgages designed for people with less-than-perfect credit.

First-Time Home Buyer Loan Details

Buying a home is a big step — especially if it’s your first. There’s a lot to think about, from saving for a down payment to getting the best interest rate and improving your credit score.

Dakotaland is here to help with personalized features and services to help blast through the barriers between you and your own home.

Dakotaland Federal Credit Union First-Time Home Buyer Loan Program offers:

  • Low-cost fixed and adjustable-rate mortgages

  • Up to 100% financing for qualified buyers on select loan programs

  • Access to South Dakota Housing, FHA, USDA, VA, and in-house loan options

  • Access to down payment and closing cost assistance programs from Home$tart, SDHDA, GROW SD, Neighborworks, and HAPI Homes

  • In-person assistance throughout the application process

Not sure which mortgage loan program is right for you? Let us help. Dakotaland takes pride in matching members to the best loan for their needs.

Ready to get started? Click below to start your online loan application today.

Apply for First-Time Home Buyer Loan

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Calculate Your New Home Loan

Take the first step towards calling a house your home.

FIRST-TIME HOMEBUYER PROGRAM RESOURCES

Real Estate Servicing

At Dakotaland FCU, we strive to build long-term relationships, and that includes our home loans. We work with our loan-servicing partner, Servion Mortgage, to support you as you pay off your loan.

Debt Management

Need help managing an existing loan or high-interest debt? Now you can take control of your finances with a free review and confidential guidance from our certified financial counselors.

Make A Payment

Now it’s easier than ever to make your monthly loan payment with our online and mobile banking services. Pay instantly from wherever you are or automate your payment for maximum peace of mind.

Frequently Asked Questions

Typically, a first-time homebuyer is considered to be someone who has not owned a primary residence in the past three years.


A 20% down payment is often expected with many conventional loans, but government-backed programs usually have more flexible requirements. Fixed-rate mortgages from the FHA may require as little as 3.5% down, depending on the purchase price and loan amount, while qualified borrowers using programs from the USDA or the VA may not need a down payment at all. Some lenders also offer non-conforming, in-house loans with lower down payment options.


Conventional loans extended to borrowers who don’t have a big enough down payment or are unable to demonstrate a high enough credit score or a low enough debt-to-income ratio usually require private mortgage insurance (PMI) to offset the lender’s additional risk.


Yes, income limits do apply for FHA, USDA, VA, and other loans offering access to lower down payments or more relaxed credit terms.


You do not need to be a first-time home buyer to qualify for most FHA, USDA, and VA loans, although income and other restrictions still apply.


You do need to be a first-time homebuyer to be eligible for special programs and services offered by lenders like Dakotaland FCU, and to qualify for down payment assistance from organizations like FHLB Home$tart, SDHDA, GROW SD, NeighborWorks, and HAPI Homes.


There is a wide range of home mortgage types available to first-time buyers, depending on their needs. First-time applicants can apply for both fixed and adjustable-rate loans, including loans extended solely by Dakotaland, as well as mortgages backed by the FHA, VA, USDA, and South Dakota Housing.


You can get started today by applying for a loan online. We’ll process your request and recommend the best loan type and assistance for your needs. Alternatively, use the form below to contact our knowledgeable mortgage loan officers or get in touch by phone or in person.

meet our mortgage lending team

Melinda Riley

Melinda Riley

Mortgage Loan Officer

605-412-2889
Aberdeen Branch
NMLS# 485330

Meet Melinda
Danielle Engels

Danielle Engels

Mortgage Loan Officer

605-412-2417
Brookings Branch
NMLS# 1619449

Meet Danielle
Mackenzie Hojer

Mackenzie Hojer

Mortgage Loan Officer

605-412–2246
Brookings Branch
NMLS# 2678293

Meet Mackenzie
Crystal Hofer

Crystal Hofer

Mortgage Loan Officer

605-412-2890
Huron Main Branch
NMLS# 1864180

Meet Crystal
Jennifer Isaacson

Jennifer Isaacson

Mortgage Loan Officer

605-412-2416
Huron Main Branch
NMLS# 2590133

Meet Jennifer
Tom Myers

Tom Myers

Mortgage Loan Officer

605-412-8382
Huron Main Branch
NMLS# 1613007

Meet Tom
Mackenzie Hojer

Mackenzie Hojer

Mortgage Loan Officer

605-412–2246
Madison Branch
NMLS# 2678293

Meet Mackenzie
Lane Kessler

Lane Kessler

Mortgage Loan Officer

605-453-2590
Mitchell Branch
NMLS# 2369409

Meet Lane
Serena Boerger

Serena Boerger

Mortgage Loan Officer

605-412-2258
Watertown Branch
NMLS# 2276689

Meet Serena

EXPLORE MORE HOME LOANS

Home Loans

Dakotaland offers a range of innovative home financing solutions designed to help you buy, build, or tap your equity to reach your goals.

Construction Loans

Looking to build a home and need financing? Let our experienced team help with planning and making the best financing decision for your project.

Home Equity Lines of Credit

Turn the equity you hold in your home into a line of credit you can tap for cash to improve your home, pay off debt, or manage unexpected or ongoing costs.

Contact Us

 
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