Expertise.com

Best Mortgage Brokers in Sioux Falls

2024

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Mortgage Brokers FAQs 〉

Providers

Last updated:

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

Why choose this provider?

Dave Kelly works as a loan advisor for Fairway Independent Mortgage Corporation in Sioux Falls. He provides brokerage services to assist clients in locating the best mortgage program for their specific needs. The advisor provides a variety of plans, including rural development, conventional, reverse mortgage, FHA, VA, and jumbo loans. Dave Kelly is authorized to provide his services in South Dakota and Minnesota. He has over 20 years of experience in the banking, real estate, and mortgage industries.

License Verified:

License: 509205

Nationwide Multistate Licensing System and Registry

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.4
Google
4.0 / 5 (31)
Zillow
4.9 / 5 (23)
Facebook
5.0 / 5 (3)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

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

Why choose this provider?

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.

License Verified:

License: 93718

Nationwide Multistate Licensing System and Registry

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.4
Facebook
4.3 / 5 (15)
Google
5.0 / 5 (2)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
3.8
Responsiveness
Friendliness
Helpfulness
Detail
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Website
5024 South Bur Oak Place, Sioux Falls, SD 57108
  • Refinance

Why choose this provider?

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.

License Verified:

License: 1827308

Nationwide Multistate Licensing System and Registry

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Google
5.0 / 5 (59)
Facebook
5.0 / 5 (25)

Website
3905 West 49th Street, Sioux Falls, SD 57106
  • Refinance

Why choose this provider?

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.

License Verified:

License: 22004

Nationwide Multistate Licensing System and Registry

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Google
5.0 / 5 (70)
Facebook
5.0 / 5 (46)
Yelp
5.0 / 5 (1)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Frequently Asked Questions

  • Introduction

    It’s the American dream to buy property, and almost everyone who purchases a home does so with the help of a mortgage broker. It can be intimidating when you don’t know where to begin, what information is necessary, and how to receive a loan. A mortgage broker acts as an intermediary between the applicant and the financial institution.


    The mortgage broker’s role includes comparing loan terms across lenders to find applicants the best options, collecting paperwork the financial institution needs to analyze the application, and guiding the buyer through the underwriting and closing processes. Mortgage brokers can significantly simplify the home buying process.

  • Can mortgage brokers work across state lines?

    Yes, mortgage brokers can work across state lines. However, each state has different licensing requirements for mortgage brokers. Customers should ensure their broker can legally work in another state before going across state lines. Lastly, don’t forget the mortgage process is often time-sensitive, so being in different time zones can be problematic.

  • How do mortgage brokers find lenders?

    Mortgage brokers work independently and act as a bridge between the client and the lender. They reach out to several lenders to form a network and build professional relationships with those they work with often. They use lenders who best meet a client's rates and terms, and some lenders only do business through mortgage brokers.  

  • What credit score do mortgage brokers use?

    There are two credit scoring models in the United States: FICO and VantageScore. Mortgage lenders typically prefer to use FICO. However, each credit bureau uses a different version of the FICO score:

    • Experian uses FICO Score 2
    • Equifax uses FICO Score 5
    • TransUnion uses FICO Score 4

  • Do mortgage brokers help with refinancing?

    Yes, mortgage brokers can help with refinancing. Individuals who have a solid credit score will typically go to their bank to refinance their mortgage. However, if you don't have excellent credit, a mortgage broker may be able to secure you a better interest rate than you could get on your own.

    You pay a fee to the mortgage broker, so you'll want to consider this fee versus your savings in your cost-benefit analysis.
  • Can you work with two mortgage brokers?

    You can definitely work with two mortgage brokers. The advantage of using multiple brokers is that you'll have two people reaching out to several lenders to secure the best rate possible. However, you must ensure you provide matching information to all your brokers. If two brokers provide mismatched information about your application to the same lender, it can send off red flags and delay your approval process.

  • Do mortgage brokers get better deals?

    Yes, a mortgage broker should be able to get you a better deal. Mortgage brokers go to several lenders on your behalf and find the one with the best terms and interest rates. However, note that some mortgage brokers have preferred lenders. A broker may bring you their preferred lender's offer, even if it's not the best one; however, this isn't a regular practice.