NMHL Mortgage Lending
Mortgage Lender in Aberdeen, SD
Local expertise and competitive rates for Aberdeen homebuyers.
Aberdeen, South Dakota's housing market offers a unique blend of affordability and community charm. With a median home price of $210,000, residents enjoy some of the most accessible homeownership in the Great Plains region. At National Mortgage Home Loans (NMHL), we understand the local market's nuances and are committed to helping Aberdeen borrowers achieve their homeownership goals, regardless of their credit history or financial situation.
Aberdeen's economy is driven by major employers like Northern State University, 3M, and Avera St. Luke's Hospital, providing a stable foundation for the local housing market. As a trusted mortgage lender in Aberdeen, NMHL offers a range of mortgage programs tailored to the needs of local borrowers, including first-time homebuyers, self-employed individuals, and veterans.
Whether you're looking to purchase a home in Central Aberdeen's walkable neighborhoods or explore newer developments in South Aberdeen, NMHL is here to guide you through the mortgage process. Our team is knowledgeable about local market conditions, property tax rates, and school districts, ensuring you receive the best possible mortgage solution for your needs.
Aberdeen Housing Market Overview
Aberdeen is northeastern South Dakota's hub, home to Northern State University and a stable agricultural economy. Known as the Hub City for its railroad heritage, Aberdeen offers very affordable housing in a close-knit community.
Aberdeen Neighborhoods
Popular areas for homebuyers in Aberdeen, SD
ZIP Codes We Serve in Aberdeen
Mortgage lending available in these Aberdeen ZIP codes
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Takes about 5 minutes. No obligation. No credit check until you are ready.
Your Local Mortgage Partner
We understand the local market dynamics that affect your home purchase. Our team provides personalized loan options based on local property values and regulations.
Available Loan Programs in Aberdeen
Explore mortgage options tailored to Aberdeen homebuyers
Refi-Shield
Learn MoreFirst Time Home Buyer Mortgages
Special loan programs helping newcomers purchase their first home with favorable terms and support.
Learn MoreInterest Only Mortgages
Interest-only mortgages allow borrowers to pay only the interest for a set period, reducing initial monthly payments.
Learn MoreAdjustable-Rate Mortgage (ARM)
Financial flexibility and optimal rates with an Adjustable-Rate Mortgage – Your key to a dynamic homeownership journey
Learn MoreHigh-Value Appraisal Program
Learn MoreFHA Loans
Federal Housing Administration (FHA) loans are government-backed mortgages designed to help first-time homebuyers and th...
Learn MoreHome Equity Loans
Access the equity in your home with a fixed-rate home equity loan. Get a lump sum with predictable monthly payments for ...
Learn MoreFixed-Rate Mortgage
Lock in your interest rate for the life of the loan with a fixed-rate mortgage. Predictable monthly payments make budget...
Learn MoreBridge Loans
Bridge the gap between buying your new home and selling your current one. Short-term financing that gives you the flexib...
Learn MoreVA Loans
VA loans are a benefit earned by veterans, active-duty service members, and eligible surviving spouses. Backed by the De...
Learn MoreConventional Loans
Conventional loans are not backed by government agencies and typically offer the most flexibility for qualified borrower...
Learn MoreITIN Loans
Purchase a home using your Individual Taxpayer Identification Number (ITIN) without a Social Security Number. NMHL is co...
Learn MoreJumbo Loans
Jumbo loans exceed conforming loan limits and are designed for luxury properties and homes in high-cost areas. With comp...
Learn MoreDSCR Investment Loans
Debt Service Coverage Ratio (DSCR) loans qualify based on rental income rather than personal income. Perfect for real es...
Learn MoreBank Statement Loans
Bank statement loans are designed for self-employed borrowers and business owners who have difficulty documenting income...
Learn MoreReverse Mortgages
For homeowners 62 and older, reverse mortgages allow you to access your home equity without monthly payments. Stay in yo...
Learn MoreUSDA Mortgages
USDA Rural Development loans help moderate-income buyers purchase homes in eligible rural and suburban areas. With no do...
Learn MoreHeloc
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Understanding Aberdeen's Housing Market
Aberdeen's housing market is characterized by its affordability and stability. The median home price is $210,000, making it an attractive option for first-time homebuyers and families. The local economy is driven by major employers like Northern State University, 3M, and Avera St. Luke's Hospital, providing a solid foundation for the housing market.
- Median home price: $210,000
- Average property tax rate: 1.25%
- Major employers: Northern State University, 3M, Avera St. Luke's Hospital
NMHL's local market expertise can help you navigate Aberdeen's housing market with confidence.
Exploring Aberdeen's Neighborhoods
Aberdeen's neighborhoods offer a range of character and amenities. Central Aberdeen features walkable streets and a mix of older and newer homes. South Aberdeen has seen newer developments, while the Richmond Lake area offers waterfront access and recreation. NMHL's team is familiar with these neighborhoods and can help you find a mortgage that fits your needs.
- Central Aberdeen: walkable neighborhoods, mix of older and newer homes
- South Aberdeen: newer developments
- Richmond Lake area: waterfront access, recreation
Whether you're looking for a home in Central Aberdeen or exploring newer developments in South Aberdeen, NMHL is here to guide you through the mortgage process.
Mortgage Options for Aberdeen Borrowers
NMHL offers a range of mortgage programs tailored to the needs of Aberdeen borrowers. Our programs include options for first-time homebuyers, self-employed individuals, and veterans. We also offer down payment assistance programs to help make homeownership more accessible.
- First-time homebuyer programs: SDHDA First-Time Homebuyer Program
- Self-employed mortgage options: NMHL's alternative income documentation
- Veteran mortgage programs: VA loans
NMHL's mortgage programs are designed to help Aberdeen borrowers achieve their homeownership goals, regardless of their credit history or financial situation.
Getting Started with Your Aberdeen Mortgage
Getting started with your Aberdeen mortgage is easy. Contact NMHL's team to discuss your mortgage needs and we'll guide you through the pre-approval process. We'll review your credit history, income, and other factors to determine how much you can borrow and provide you with a pre-approval letter to take to sellers.
Take the first step towards homeownership in Aberdeen. Contact NMHL today to get started with your mortgage.
Frequently Asked Questions
Aberdeen's average property tax rate is 1.25%, which is relatively low compared to other parts of the country. This means that homeowners in Aberdeen can expect to pay around $2,625 per year in property taxes on a $210,000 home. NMHL can help you factor property taxes into your mortgage planning.
Aberdeen is served by the Aberdeen School District, which is known for its strong educational programs. Homes located within the district's boundaries tend to hold their value well, making them a smart investment for families. NMHL can help you understand how school districts impact home values in Aberdeen and find a mortgage that fits your needs.
South Dakota offers several first-time homebuyer programs, including the South Dakota Housing Development Authority's (SDHDA) First-Time Homebuyer Program. This program provides financing options with competitive interest rates and down payment assistance. NMHL can help you explore these programs and determine which one is right for you.
Yes, NMHL offers mortgage programs for borrowers with less-than-perfect credit. Our team will work with you to understand your credit history and find a mortgage solution that fits your needs. We consider factors beyond credit scores, such as income, debt-to-income ratio, and employment history.
NMHL offers several down payment assistance programs, including the NMHL Advantage program, which provides up to 3.5% down payment assistance for qualified borrowers. Additionally, the SDHDA offers down payment assistance programs for first-time homebuyers. Our team can help you explore these options and determine which one is right for you.
Getting pre-approved for a mortgage with NMHL is easy. Simply contact our team to discuss your mortgage needs and we'll guide you through the pre-approval process. We'll review your credit history, income, and other factors to determine how much you can borrow and provide you with a pre-approval letter to take to sellers.
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Ready to Buy in Aberdeen?
Let NMHL help you navigate the Aberdeen housing market with expert guidance and competitive rates.