Aug. 11, 2021

This paid piece is sponsored by Central Bank.

When Mike Gustafson left Sioux Falls for California’s Bay Area in the mid-1970s, it was a city of about 72,000 people.

When he and his wife, Lesley, returned here in late 2009, the community had grown to 150,000.

“There were real changes – they were good changes,” said Gustafson, a longtime mortgage loan officer who realized a growing community meant plenty of need in his industry.

He joined the team at Central Bank, which was then MetaBank, in 2010 and left in 2018 to work in the real estate side of the home industry.

“It was where a lot of my business came from, and to be in the trenches and experience both sides has given me an insight I didn’t have before. It’s been a great help to me as I get back in the mortgage field.”

This spring, Gustafson rejoined the team at Central. His office and many of his co-workers are the same, but some big changes have occurred too.

“It’s a completely different market than when I left three years ago,” he said. “The lack of inventory makes things more challenging and really puts an emphasis on how important it is for homebuyers to get pre-qualified.”

There also are some key differences to being part of Central Bank.

“We keep the servicing here and sell the loans. This unique hybrid approach opens the whole government market to us. So now we offer VA, FHA, South Dakota Housing and jumbo loans,” Gustafson said.

“I’m really pleased with our jumbo pricing. It’s extremely competitive. And with a great group of folks, the decision to come back and go with Central wasn’t difficult at all. Now, I’ve got the best of both worlds.”

“Mike is a welcomed addition to Central Bank and our experienced mortgage lending team,” said Kathy Thorson, senior vice president. “Our clients find that no matter their homebuying needs, we have the products and the people here to support them.”

While Gustafson said it’s tough to project where the mortgage rate market will move, “if there’s pressure on interest rates, it’s to the upside but not dramatically,” he said. “The market is also gaining more inventory. It’s nowhere close to where it was two years ago, but it’s picking up a little.”

And, while California once drew him for its proximity to outdoor activities and great cuisine, he has found Sioux Falls now offers the lifestyle he wants.

“Certainly, the pace is much better. I really like the people, and the culture is marvelous here,” Gustafson said.

“I’m involved with Realtors for Kids, I love to golf, hunt and fish, and we’re really enjoying a lot of the opportunities Sioux Falls has now that weren’t in the picture years ago – the great restaurant scene, the entertainment options have really grown, from big concerts to small shows. We bounce around, soaking it all in. It’s just really good to be back! It was a good move.”

To reach Mike Gustafson, NMLS ID #248816, email [email protected] or call 605-782-0811.