Mortgage Lender Rapid City, South Dakota by Megan Rae Hildebrand – Heritage Home Lending, LLC – NMLS #240509

We’re the mortgage lender you’ve been looking for in Rapid City, South Dakota. At Heritage Home Lending, LLC, we offer VA loans, conventional loans, USDA rural development loans, FHA loans, non-QM loans, and bridge loan financing. We’re here to help you find the perfect mortgage solution for your needs. Let us guide you through the home buying process and make your dreams of owning a home in Rapid City a reality.

VA Loans

At Heritage Home Lending, LLC, we are committed to helping military veterans and their families achieve homeownership through VA loans. VA loans offer numerous benefits to veterans, including lower interest rates, flexible repayment options, and the ability to finance up to 100% of the home’s value. To be eligible for a VA loan, veterans must meet certain requirements, such as serving a minimum period of active duty, obtaining a Certificate of Eligibility (COE), and meeting credit and income guidelines. One of the major benefits of VA loans is that they do not require a down payment, making homeownership more accessible for veterans. Additionally, VA loans do not require private mortgage insurance (PMI), saving veterans money on monthly mortgage payments. We are proud to support our veterans by offering these advantageous loan options.

Conventional

We frequently assist veterans and their families with VA loans, and in addition to that, we also offer conventional loan options at Heritage Home Lending, LLC. When it comes to conventional loans, we understand the importance of competitive rates. Our team at Heritage Home Lending, LLC keeps a close eye on the market to ensure that our clients have access to the best conventional mortgage rates available. Along with competitive rates, we also make sure to guide our clients through the conventional loan requirements. These requirements may vary depending on the loan amount, credit score, and down payment, but our experienced team is here to simplify the process and help our clients meet all the necessary criteria. At Heritage Home Lending, LLC, we are committed to providing our clients with the best conventional loan options and exceptional service.

USDA Rural Development

Assisting borrowers in rural areas, our team at Heritage Home Lending, LLC specializes in USDA Rural Development loans. The USDA rural development program offers homebuyer assistance programs aimed at promoting homeownership in rural communities. These programs provide low-interest loans and grants to eligible low-income individuals and families to help them purchase, repair, or renovate homes. With the USDA rural development loans, borrowers can obtain financing with no down payment and lower credit score requirements compared to conventional loans. Additionally, these loans offer competitive interest rates and flexible repayment terms. The homebuyer assistance programs under USDA rural development also include options for refinancing and home improvement loans. At Heritage Home Lending, LLC, we are committed to helping our clients in rural areas achieve their homeownership goals through the USDA rural development program.

FHA Loans

Our team at Heritage Home Lending, LLC continues to provide support to borrowers in rural areas by offering FHA loans. These loans are insured by the Federal Housing Administration, making them an attractive option for many homebuyers. FHA loans have specific requirements that borrowers must meet in order to qualify. These requirements include a minimum credit score, a maximum debt-to-income ratio, and a down payment of at least 3.5%. One of the main benefits of FHA loans is the lower down payment requirement, which makes it easier for borrowers to become homeowners. Additionally, FHA loans often have more flexible lending guidelines compared to conventional loans. This can be especially beneficial for borrowers with less-than-perfect credit or a limited credit history. Overall, FHA loans provide a viable financing option for borrowers in rural areas, helping them achieve their homeownership goals.

Non-QM Loans

At Heritage Home Lending, LLC, we are committed to providing borrowers in Rapid City, South Dakota with a range of financing options, including non-QM loans. Non-QM loans, also known as non-qualified mortgage loans, offer an alternative to traditional mortgage loans that don’t meet the qualified mortgage requirements set by government agencies. These loans are designed for borrowers who may not meet the strict criteria of traditional loans but have the ability to repay the loan. The requirements for non-QM loans are more flexible, taking into consideration factors such as credit history, debt-to-income ratio, and employment history. The benefits of non-QM loans include the ability to finance unconventional properties, such as investment properties or vacation homes, as well as providing options for self-employed individuals or those with unique financial situations. At Heritage Home Lending, LLC, we understand that every borrower is unique, and we are here to help you find the right financing solution for your needs.

Bridge Loan Financing

We frequently help borrowers in Rapid City, South Dakota with bridge loan financing at Heritage Home Lending, LLC. Bridge loans offer several benefits for homeowners who are looking to buy a new home before selling their current one. One major benefit is the ability to access funds quickly, allowing borrowers to secure their new home without having to wait for their current home to sell. Additionally, bridge loans can help borrowers avoid the need for a contingency offer, which can make their offer more competitive in a competitive real estate market. The bridge loan process is relatively straightforward. Borrowers will need to provide documentation of their current home’s value, as well as the purchase agreement for their new home. Once approved, the bridge loan can be used to cover the down payment and closing costs on the new home. Overall, bridge loan financing can be a great option for homeowners in Rapid City, South Dakota who are looking to make a smooth transition between homes.