Every Monday Morning at 8:15am, join me on my Facebook page as I sit down with a local lender, and do a live interview and talk about a Mortgage Tip that may help YOU with your next Real Estate Purchase. 

This morning I sat down with Justin Froiland from Fairway Mortgage. Listen as Justin gives a list of reasons why buyers should always check their lending options before deciding on a lender. You can reach Justin at 605.695.1429 or justin.froiland@fairwaymc.com.  His office is located at 412 5th St., Brookings SD 57006 or on the web at www.BrookingsMortgage.com 

Double Checking Your Options

- All right. Let's see if this is working here. Good morning, everybody. Shane here, from the Brookings Home Team, powered by Century 21. Monday morning, our normal Monday morning mortgage tip here with this familiar face , Justin Froiland from Fairway Mortgage, feeling a little under the weather. So thanks for digging in and coming in this morning.

- Most definitely.

- Appreciate that.

- Yeah.

- So guys, as you jump on here, let us know, give us a heart, give us a thumbs up. If you do have questions for us too, we'll try to see if we can answer it here, otherwise we'll answer it on our next episode. But, let's just get in with it.

- Certainly.

- What do you got for us today Justin?

- Yeah thanks, Shane. Today I wanted to talk about the importance of really knowing all of your options that are available to you, especially for first time home buyers. I've ran into a couple scenarios lately where I've been referred a client that was initially working with an online loan provider. I won't mention any names but was working there. There's been a couple of them lately that have come up with a couple different online loan providers and the problem that you run into with that is that a lot of those providers are not able to offer the first time home buyer a loan in South Dakota, that's South Dakota housing offers. And that can be a significant disadvantage to you as a buyer, by not being able to use that program if you're eligible for it. And so there's some significant lower interest rates, some lower PMI. There's even some down payment assistance and some debt tax benefits that you can elect to choose with that. So, it's a very lucrative program out there that we have in South Dakota here and just make sure that if you are a first time home buyer and you're talking with your lender, make sure that you bring that up if they haven't already, to make sure that it's something that they offer. A lot of local lenders, including myself, are able to offer that program. And so, that's the tip that I wanted to talk about today just to make sure that nobody is out there missing an opportunity that they could be utilizing and taking advantage of some of those offers.

- What do you see? Is it the interest rate, maybe is the biggest thing or?

- Yeah. A couple of them, you know. A lot of times, your closing costs end up being maybe just even a hair higher with the first time home buyer program, but you're paying for a lot of those other benefits that you're getting. With the lower interest rate, there's an option that you can elect to use, Shane, called the MCC Tax Credit. There's some tax benefits.

- We've got a podcast on that.

- Oh, yes, So yeah. Just a number of different options there. If you need the down payment assistance so you don't drain your savings account, that can be an option to look into as well.

- All right, perfect, good stuff there. Thanks again for,

- Most definitely

- rubbing it in and giving some information. When I say rub it in , you're toughing it out. Because you're feeling a little bit under the weather lately so,

- Yeah, we had some illnesses going through our house so I wasn't able to make it out to the Home Show near as much as I had hoped, but looked like we had a good turnout out there as well.

- Yes, Saturday was good.

- Yeah. Sunday, maybe the weather played a little factor into that.

- You bet. So hopefully you guys have made it out there. Thanks for stopping by. But, maybe we're out there next year when you're feeling a lot better.

- Next year, yeah. Fingers crossed.

- Yeah, exactly. So thanks Justin for our week's Monday morning mortgage tip. Guys, if you have any questions again, let us know. Comment below here or just reach out to Justin, he'd be happy to help you. All of his information will be on the top, on the bottom, on the sides, wherever your device allows you to see that. We'll be back next Monday for our next Monday morning mortgage tip. Do you got a lot of snow? I hope your back is feeling good. Mine is not. See you guys.

- Right? Thanks guys.

Thinking of selling and/or moving to Brookings, Volga, or any surrounding areas? Got questions? I’m here to help! Visit BrookingsHomeTeam.com for more details!