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HOME LOANS DESIGNED FOR YOU

At Dakotaland FCU, we know the important role homeownership plays in our members’ long-term financial well-being. That’s why we offer a range of personalized home loan options to help you buy, build, or use your equity to reach your goals.

HOME LOAN BENEFITS

LOWER RATES

Enjoy some of the lowest home loan interest rates in South Dakota.

LOCAL SUPPORt 

Expert in-branch loan officers and financial advisors are with you every step of the way.

VARIOUS OPTIONS

We offer a range of lending tools to help you make the most of your most valuable asset.

CUSTOM FIT HOME LOAN OPTIONS

We don’t believe in a ‘one size fits all’ approach to home lending. At Dakotaland Federal Credit Union, we provide options that give us the ability to custom-fit your mortgage to your life. Don’t settle for less when we can offer more.

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STANDARD FIXED-RATE CONVENTIONAL LOANS

Lock in the long-term value and predictability of traditional fixed-rate loans. Plan your future with confidence.

  • Same payment every month
  • Protection from rising rates
  • Easier budgeting and planning for the future
  • Perfect for those looking to put down roots and build equity over time.
Senior couple drinking coffee in their kitchen

IN-HOUSE LOANS 

In-House Loans are created and funded locally and kept on our own books rather than being sold on. That lets us build loans tailored to our members’ individual needs.

  • More flexible approval criteria
  • Customized loan terms
  • Local approval and support
  • Good option for self-employed or non-traditional income borrowers
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SOUTH DAKOTA HOUSING LOANS (FIRST-TIME HOME BUYERS) 

Make the leap to homeownership. Now local first-time homebuyers can access low-cost, fixed-rate South Dakota Housing Loans.

  • Low interest rates
  • Flexible terms
  • Income qualifications apply
  • Loan servicing must be transferred to the Idaho Housing Authority.

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HOME EQUITY LINE OF CREDIT (HELOC)

A HELOC lets you turn the equity you hold in your home into a valuable source of funding for home improvements or other priorities.

  • Borrow the money you need as you need it
  • Lower rates than credit cards or personal loans
  • Pay interest only on what you draw
  • Great for ongoing or unpredictable expenses

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HOME IMPROVEMENT LOANS 

Borrow the cash you need to invest in upgrades and renovations that increase the value of your home.

  • For indoor and outdoor projects under $35,000
  • Improve your flooring, cabinets, patio deck, or landscaping or complete a bathroom makeover
  • Interest on loans used to renovate your home may be tax deductible**

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MORTGAGE REFINANCING 

Is your existing mortgage not making the grade? You can usually get a better deal on your existing home loan by refinancing with Dakotaland FCU. 

  • Refinance at a lower rate to save money on interest
  • Extend your loan terms to lower your monthly payment
  • Shorten your loan term to build equity faster

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USDA RURAL DEVELOPMENT

Looking for a place out of town? A USDA Rural Development loan can help you find housing in designated suburban and rural areas.

  • No down payment required
  • Some income limits apply
  • Pay a guarantee fee rather than mortgage insurance
  • Loans are issued by approved lenders but backed by the USDA
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VA GUARANTEE LOANS 

Our VA Guaranteed Loans, issued in partnership with Servion Mortgage, can make buying a house more affordable for qualifying veterans and service members.

  • Up to 100% financing
  • No private mortgage insurance (PMI) on VA loans
  • Competitive interest rates
  • Flexible credit guidelines

 

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RENTAL LOANS

Planning to turn a second property into an extra source of income? Dakotaland FCU Rental Loans finance the purchase of an “investment” property for letting.

  • Fixed and adjustable-rate options
  • Less onerous debt and debt-to-income guidelines
  • Use projected rental income to help you qualify
  • Single-family, multi-unit, and investment funding options
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MANUFACTURED HOME LOAN

Manufactured homes offer an affordable alternative to traditional housing. We offer tailored lending solutions to match your varied financing needs.

  • Financing for new and existing homes
  • Owned land or approved communities
  • VA and FHA loans available
  • Less rigid lending guidelines than traditional homes
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BUILDING SITE LOANS 

A Building Site Loan lets you snap up a desirable residential lot or vacant land today, even if you are not ready to build right away.

  • Fixed and adjustable-rate mortgages (ARMs) available
  • Various terms available for short or long-term ownership
  • Option to refinance into a construction loan or regular mortgage later
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BRIDGE LOAN

A Dakotaland FCU Bridging Loan is a short-term loan that helps you cover the gap between buying a new home and selling your current one.

  • Temporary 12-month loan
  • Faster approvals
  • Tailored repayment structures based on your situation
  • Use your current home equity as Bridge Loan collateral
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SECOND MORTGAGE

You’ve worked hard to pay for your property. Now tap the equity in your home to finance other major expenses from debt consolidation or college tuition to home renovations.

  • Better rates than credit cards or personal loans
  • Variable or fixed-rate loans
  • Borrow loan amounts up to 80% LTV*
  • Interest on loans used for home improvement may be deductible**
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CONSTRUCTION LOANS 

Ready to build? A Construction Loan lets you borrow money as you need it and make interest-only payments until your building is complete.

  • Short-term financing, usually 6-18 months
  • Funds released in stages as construction progresses
  • Your loan converts to a regular mortgage when building is complete

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FHA MORTGAGE

Federal Housing Administration backed loans offer buyers who may not qualify for conventional loans access to affordable home financing.

  • Down payments as low as 3.5%
  • Streamlines credit requirements
  • Fixed and adjustable-rate options available
  • Primary residence only
  • Mortgage insurance required

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Calculate Your New Home Loan

Take the first step towards calling a house your home.

Mortgage Loan Calculator

 

HOME LOAN 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.

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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.

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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.

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SERVION HOME LOANS

Sometimes it takes a team to bring the best possible member experience. Dakotaland FCU is proud to partner with Servion Home Loans to offer a superior home financing experience for our members.

Servion, Inc. offers nearly 40 years of experience in the mortgage business. Servion is responsible for servicing our credit union home loans for the life of your mortgage, offering flexible payment options, trouble-free automatic withdrawals, user-friendly account access, and dedicated support.

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meet our team

Let our local staff help you make a house your home

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

Mortgage Minute

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FIVE FUN FACTS: WHY BUYING EARLY IN THE YEAR IS A SMART MOVE

Get ahead of the spring rush. Buying early in the year could mean lower prices, less competition, and more room to negotiate.

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THE TRUTH ABOUT 6 COMMON MORTGAGE MYTHS 

Do you think you need 20% down or perfect credit to buy a home? These common mortgage myths may be holding you back.

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HOW DO I APPLY FOR A HOME EQUITY LOAN?

Considering using your home’s equity? Here’s a simple step-by-step guide to preparing your finances, applying, and accessing your funds.

Learn More

FREQUENTLY ASKED QUESTIONS

You can apply for a loan directly from the Dakotaland website. Simply complete our easy application form and supply the necessary documents. We’ll review your application and work with you to get you pre-approved for financing, so you can begin house-hunting in earnest.

A fixed-rate mortgage is a home loan with an interest rate that stays the same for the full term. That means your monthly payments stay the same (excluding taxes and additional fees), making it easier to balance your budget and make financial plans for the long -term.

An in-house loan is a mortgage that is funded and kept by your lender, allowing them to set their own eligibility guidelines, which may offer more flexible approval terms. A conventional mortgage loan follows standard industry rules and is typically sold on to investors, which can mean stricter eligibility requirements.

Yes, you can. In fact, almost all first-time homebuyers require a mortgage in order to be able to afford their first home. That said, the process of securing a loan can be challenging. Applicants need to have built a good credit score, have stable employment, and have limited existing debts. For a conventional loan, you’ll also usually need to make a down payment of up to 20% of the value of the property you hope to buy, plus closing costs.

Yes. Dakotaland allows you to make extra payments on your principal or even pay off your loan early with no early payment penalty.

You need to be a Dakotaland member to apply for a home loan. There are several ways to qualify for membership at Dakotaland Federal Credit Union. One way is through our field of membership, which covers all those that live, work, worship or attend school in 51 counties, including Aurora, Beadle, Bon Homme, Brookings, Brown, Brule, Buffalo, Campbell, Charles Mix, Clark, Clay, Codington, Davison, Day, Deuel, Douglas, Edmunds, Faulk, Grant, Haakon, Hamlin, Hand, Hanson, Hughes, Hutchinson, Hyde, Jerauld, Jones, Kingsbury, Lake, Lawrence, Lincoln, Lyman, Marshall, McCook, McPherson, Meade, Miner, Minnehaha, Moody, Pennington, Potter, Roberts, Sanborn, Spink, Stanley, Sully, Turner, Union, Walworth, and Yankton Counties in South Dakota. 

EXPLORE DAKOTALAND LOANS & ACCOUNTS

FPERSONAL LOANS

Secure the cash you need for life’s big moments.  Our Life Event Loans let you focus on what matters—without the stress of financial uncertainty.

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CHECKING ACCOUNTS

Experience features, not fees, when you sign up for our free Checking account. Enjoy built-in overdraft protection,  no minimum balance, and more.

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AUTO LOANS

We’ve been getting South Dakotans moving for years. Let us help you with fast, flexible funding tailored to your personal budget and motoring needs.

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HAVE QUESTIONS?
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