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 Andrew Jallo from Dacotah Bank and discussed loan estimates. You can reach Andrew at 605.692.8600 or Andrew.Jallo@dacotahbank.com.  His office is located at 1441 6th St., Brookings SD 57006 or on the web at www.dacotahbank.com.

 $7500 Grants Available Through Dacotah Bank

- Good morning everybody! How ya doing? Shane here from the Brookings Home Team, powered by Century 21. We're a couple minutes late again, some technical difficulties but we're working through that. Not quite sure if it's Facebook or myself, but anyway, Monday morning, little bit after 8:15 and got Andrew here from Dacotah Bank. It is our Monday Morning Mortgage Tip, so what do you got for us this morning Andrew?

- Thanks Shane for having me. So, today we're gonna talk about grants, so free money. It's always something that if you're qualified for it, it's definitely something to consider taking advantage of. Dacotah Banks is a participating vendor with Federal Home Loan Bank out of Des Moines, Iowa where we have 75 hundred dollars worth of HomeStart grants available to consumers. So, it is income based, so get in contact with me to make sure you can qualify for that, but that 75 hundred could then be used for down payment or closing costs assistance. So, we did a podcast the other day, but just kind of some information with that. You do have to be a first time home buyer, so that is a benefit to you then. One other thing that we talked about is it might make the difference between being able to qualify for a conventional loan or rural development, having that down payment assistance. It is a five year deed restriction, so this has to be paid back if you sell the home within the first 60 months but it is forgiven every month that your reside in it, so 1/60 is forgiven, or 250 dollars a month. We had to do the math the other day.

- Do the math. So, it definitely is a great program that I really encourage borrowers to look into. Again, it is money that we have available as part of our partnership with Federal Home Loan Bank. So if you are interested, think you can qualify, give me a call and let's see if we can get you that grant ahead of time, and then we can get you over to Shane so Shane can find you that property.

- You bet, 75 hundred dollars up for grabs basically.

- Yeah.

- And the only time you'd have to pay it back is if you didn't stay in that home for the 5 years, and then it's prorated.

- Correct.

- Great program and especially if you on that fence whether you have some money to bring to the table at closing or not. So, yeah, get in here and talk with Andrew and see if you can qualify for that piece. Speaking of homes, this weekend is the National Open House Weekend and one of the goodie bags that will be offered here for you guys.

- If you guys are all free this weekend, stop out, lot of open houses hopefully planned for this weekend. Dacotah Bank is proud to be one of the sponsors of one of the goodie baskets. This one I call, kind of a s'mores basket, so, with the season changing and summer finally, hopefully around the corner.

- Hopefully.

- Stop out at those open houses, a bunch of us affiliates have donated prizes that you can sign up for and win for door prizes, so definitely this weekend plan on stopping out and see what we have available.

- If you'd like a list of those open houses, let me know. I'll be happy to send you a link to there those too. Of course the Brookings Home Team will have four of them taking place, so give us a holler on that and we'd be happy to show you that link as well. As normal, if you do like this video, give us a thumbs up, gives us some hearts, make some comments. We'd love to hear about any questions that you have too. Message us, down below, on the sides, up above, wherever your device allows you to see that, and we'd be happy to talk to you about that on our next episode And also feel free to share, tag anybody else in this video that you think would benefit from it as well. So, that's this week's Monday Morning Mortgage Tip. Thanks for watching and listening if you're on the podcast side of things. We'll have that in podcast form here too. Have a great week, stay warm, and hopefully we'll see you this weekend for the open houses. Thanks Andrew.

- Thanks.

- See you 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!