Yes: in South Dakota, mortgage loan officers need a state license issued by the South Dakota Division of Banking (Dept. of Labor and Regulation). You can check a name yourself on NMLS Consumer Access.
Mortgage loan officers in South Dakota: what buyers ask
What first-time buyer programs does South Dakota offer?
In South Dakota, South Dakota Housing (SD Housing) offers first-time buyers a 30-year fixed-rate mortgage for homes priced at $410,000 or less, with income limits in Minnehaha County of $118,700 (one or two people) or $136,505 (three or more).
What does an FHA loan require?
FHA loans need 3.5% down with a 580 credit score. Upfront mortgage insurance is 1.75% and the annual premium is 0.55% at 96.5% LTV.
Check a mortgage loan officer yourself
- License required · South Dakota Division of Banking (Dept. of Labor and Regulation)
- Titles you will see: Mortgage loan originator
- Check a name yourself: NMLS Consumer Access (we could not open this search page ourselves)
The 5 sectors of Sioux Falls
Northeast District · Northwest District · Southeast District · Southwest District · Central District