Mitchell Mortgage and Home Loans
There’s no place like home, and our BankWest Mortgage team in Mitchell can help you build, renovate or purchase the home of your dreams. And despite what you might think, BankWest makes securing a home loan easier than you ever thought possible.
Our BankWest real estate professionals have a strong understanding of the South Dakota housing market and years of experience with mortgages in the Mitchell area. This experience helps provide a unique insight and a solid plan for building, renovating or purchasing a home. From your first discussion to your moving day, BankWest will be there to provide solid advice and walk you through the financial roadmap.
Home Loan and Mortgage Options in Mitchell
At BankWest in Mitchell, we offer an array of home loan options for qualified homebuyers. Below is a brief description of each home loan and mortgage option. For more information about our real estate products and services, please stop by one of our two Mitchell locations to visit with a BankWest representative.
For families or individuals who plan to make Mitchell their long-term home, a fixed-rate mortgage is likely the most affordable option. With a fixed-rate mortgage, your interest rate and monthly payment remain constant throughout the life of the home loan.
Federal Housing Administration (FHA) Loans
For homebuyers with limited monthly incomes and/or the inability to make a down payment, an FHA loan might be the best option. As an FHA-approved lender, BankWest offers affordable government-insured loans to qualified homebuyers.
First-Time Homebuyer Loans
Becoming a first-time homeowner is an exciting time in your life. At BankWest in Mitchell, our First-Time Homebuyer Program provides low-interest, fixed-rate mortgage loans for homes with a purchase price less than $385,000.
Rural Development (RD) Loans
Backed by the U.S. Department of Agriculture, Rural Development Loans are a great option for low- to moderate-income families. Applicants must meet a number of criteria including income eligibility, the legal capacity to incur a loan and a home that meets all program criteria.
Veterans Administration (VA) Loans
BankWest in Mitchell is a VA-approved lender. We proudly serve our veterans by offering VA loans with special rates to individuals who served or are currently serving in the U.S. Armed Forces.
A BankWest construction loan allows for draws to pay building expenses throughout the construction process. Land/lot expenses may be rolled into your construction loan. When home construction is complete, the construction loan will be converted into a permanent mortgage loan.
Designed for luxury homes and homebuyers with a qualified income, a jumbo loan from BankWest may exceed the maximum loan amount allowed by most mortgage investors.
BankWest offers real estate loans for lots or property before construction begins. The transition from lot to construction loan is easily made when the buyer is ready to begin the building process.
With decades of banking and lending experience, BankWest is proud to be setting the bar for all financial services in the Mitchell area. Our experienced mortgage originators, and their commitment to customizing each loan, help reinforce our outstanding reputation across South Dakota.
BankWest Locations in Mitchell
Stop by one our BankWest locations in Mitchell to speak to a home loan advisor today:
Experience the BankWest Difference
Whether you need more convenience or more options, you can count on us to be with you every step of the way.