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Best Mortgage Brokers in Sioux Falls

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Dave Kelly logo

Dave Kelly

401 East 8th Street, Sioux Falls, SD 57103
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  • Refinance

Dave Kelly is a loan officer for Sioux Falls Mortgage, which serves homeowners in and around the city. He is a certified mortgage planner who educates clients on various loan options, like conventional, reverse mortgage, and FHA loans. Dave also discusses refinancing options and calculates the interest rates and monthly fees of new mortgage contracts. Armed with over 20 years of real estate experience, he believes in planning mortgages to suit other life expenses. Previous clients have praised him for being informative and friendly.

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Homeowners Financial Group logo

Homeowners Financial Group

101 South Reid Street, Sioux Falls, SD 57103
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  • Refinance

Homeowners Financial Group provides mortgage services to clients in Sioux Falls and the surrounding areas. The company's insurance professionals guide clients from start to finish, starting with initial consultation discussing the client's needs to reviewing the application & documents. Homeowners Financial Group’s Atlanta-Central branch was named as a 2021 Best Places to Work by Atlanta Business Chronicle. Homeowners Financial Group was founded in 2004 and is headed by Bill Rogers.

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Kevin Carlson logo

Kevin Carlson

3905 West 49th Street, Sioux Falls, SD 57106
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Kevin Carlson is a senior mortgage banker at Plains Commerce Bank, serving Sioux Falls and the surrounding areas. Carlson assists both first-time and seasoned homebuyers in locating the best mortgage loan for their needs. From budgeting to offer acceptance, his team assists clients throughout the mortgage process. He also assists homeowners with lowering their monthly payments or changing their current mortgage plans through refinancing. Carlson has been serving the mortgage industry since 1997. He joined Plains Commerce Bank in 2006.

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Tailored Mortgage Group logo

Tailored Mortgage Group

5024 South Bur Oak Place, Sioux Falls, SD 57108
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  • Refinance

Tailored Mortgage Group is an independent brokerage that serves the Sioux Falls area. Established in 2019, its team of home loan specialists has access to an array of programs and tools, allowing them to find mortgages that will match the clients' needs, whether they are purchasing or refinancing. Among the programs they offer are FHA, VA, adjustable-rate, fixed-rate, and reverse mortgages. Tailored Mortgage Group is headed by Becky Amdahl and Mitch Wachter, who have nearly 20 years of collective industry experience.

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Frequently Asked Questions

Q: Do mortgage brokers need to be licensed?

A: Yes, all mortgage brokers need to be licensed. Individuals need to complete a 20-hour class that goes over state and federal laws for mortgages and other important information. Next, individuals take the official test with the National Mortgage Licensure System.

Q: Is it difficult to pass the mortgage brokers’ test?

A: Upon completion of educational requirements, you must pass the mortgage broker test to receive your license. It's a two-part test called the Safe Mortgage Loan Originator Exam, and it can be a bit challenging. Out of almost 87,600 national test-takers, 57% passed on their first attempt. The test includes both a state and national portion and requires a minimum score of 75% to pass.

Q: What is a surety bond for mortgage brokers?

A: A surety bond is a legal contract that binds three parties — the obligee, the principal, and the surety. Surety bonds are typically required to receive a license for operating as a mortgage broker. When a mortgage broker gets a surety bond, it's a legal guarantee they'll perform their obligations to their customers as required by law.

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