May 28, 2025

This piece is sponsored by Central Bank.

For Ryan Spellerberg, the best day at work is the one when clients get to move into the first house they’ve ever owned.

“To see a first-time homebuyer get their keys is the moment I’m reminded why I love my role,” said Spellerberg, who estimates that in the past decade he might have done more first-time mortgages than any lender in South Dakota.

“That’s my niche,” he said. “And while I can help any homebuyer, it’s rewarding to work with those who get so excited about their moves.”

Spellerberg recently joined the team at Central Bank, working from the family-owned bank’s office at 4900 S. Western Ave.

“I like that Central Bank is small enough to be flexible, and I work with a really good team,” he said. “My main underwriter was my assistant years ago when I was starting in mortgage lending, and it’s been a great fit.”

Spellerberg grew up in the small North Dakota town of Lidgerwood, then headed south to study business at Northern State University in Aberdeen. It led him to the banking world, where he spent almost a decade with Wells Fargo Financial working in specialized lending.

He left in 2010 to join the community banking world, where he has worked for multiple South Dakota-based banks and honed his focus on mortgage lending.

“It was a big difference, and I learned I’d rather be out meeting people and building relationships instead of doing outbound calls from my desk,” Spellerberg said. “The best part about my job is the relationships with the people I get to help. I like making friends, not clients.”

He enjoys helping prospective homeowners realize that homeownership might be more accessible than they think, introducing them to programs that can allow them to take out a mortgage with as little as $1,000 down.

“There’s a misconception that you need 20 percent down, and actually South Dakota Housing has one of the best first-time homebuyer programs in the country,” he said. “You really need very little money down.”

And if you’ve graduated from any college or trade school in the past five years, you’re also eligible for a 5 percent grant from the state of South Dakota after you close, in addition to a subsidized interest rate and no origination fee.

“It’s just a home run, and a lot of people don’t know about it,” he said.

For those looking to move, the current rate environment is proving tougher than the days of 3 percent mortgages, but homes priced at $400,000 or less and those at $800,000 or more “are still seeing good activity,” he said. “But we do see people still needing to move or wanting to be in a different neighborhood.”

The flexibility of Central Bank’s approach helps make such moves a bit easier, he said.

“Central Bank can be nimble,” Spellerberg said. “I can walk across the room and have a conversation with an owner and get approval on a deal.”

The bank also offers “really good technology,” he added. “We’re even doing digital closings, and we lend in all 50 states, so it’s a really good offering for clients.”

Spellerberg is a strong believer in connecting to his communities beyond the workplace. Last April, he was approached about serving on the Sioux Falls City Council and now represents the southwest district.

“They needed people who were common sense-minded, and that’s what drove me to serve,” he said. “But it also really helps me understand what’s happening in the city on a broad scale, and that’s helpful on the mortgage side. I know about housing developments and zoning and can help in ways I never could before. We need good people to run for office, so I encourage others considering it to reach out.”

He and his wife, Emily, also are committed to giving back. What started as a popular annual party at their house has grown into an annual fundraiser supporting different local causes with themed events. The most recent, Barktober Fest, raised $32,000 for the Sioux Falls Area Humane Society.

“Every year, we say it’s going to be the last one because it’s a lot of work, but then we start getting the itch,” he said. “We have corporate sponsors that have stepped up so we can give all the money raised to the nonprofit, so it’s just been a really rewarding experience.”

To connect with Ryan Spellerberg for your home lending needs, call 605-501-9135 or email rspellerberg@mycentral.bank.

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