Interest Rates

Multiple area banks have notified me that interest rates have dropped a little.  I’ve seen anywhere from 5% to 6.4%.  The rate you qualify for will depend on the type of loan you get, your credit score, and down payment.  If you are looking for a home in Nebraska, you may be eligible for a $15,000 grant if you are a first-time home buyer.  $12,500 is being offered for non-first-time home buyers if they meet certain qualifications.  However, you must use a bank that is located in Nebraska.  That doesn’t mean you can’t use a bank in Yankton though.  If the branch also has locations in Nebraska, you can still use that bank.  South Dakota also has programs available for new college graduates and a few other programs. Go speak to your banker. Your pre-qualification letter is your first step to purchasing a home.  The market is starting to get hot with new listings!