Current as low as Mortgage and Home Equity Rates
FreeRateUpdate publishes the as low as mortgage and home equity rates and APRs we can verify from the lenders and brokers in our network. Individual terms vary; the details and assumptions behind each figure are available below.
| Purpose | Product | Term | As low as rate | APR* |
|---|---|---|---|---|
| Purchase | Fixed mortgage | 30 years | 5.990% | 6.183% |
| Purchase | Fixed mortgage | 15 years | 5.250% | 5.538% |
| Refinance | Fixed mortgage | 30 years | 5.874% | 6.045% |
| Refinance | Fixed mortgage | 15 years | 5.250% | 5.553% |
| Refinance | Fixed mortgage | 10 years | 5.125% | 5.453% |
| Cash-out refinance | Fixed mortgage | 30 years | 6.125% | 6.304% |
| Home equity | HELOC | Revolving | 7.000% | 7.000% |
| Home equity | Home equity loan | Fixed term | 7.875% | 8.312% |
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Compare SD Mortgage Refinance Offers
Lower Your Interest Rate in South Dakota
If eligible, you can lower your interest rate. This could lead to lower payments and less money paid towards interest.
By refinancing your existing loan, your total finance charges may be higher over the life of the loan.
Why should I lower my rate? |
Save money |
 |
Lower Payments |
Shorten Your Loan Term in South Dakota
Shorten your loan term when refinancing from a 30-year term to a 15-year term. You may also lower your rate.
Why should I shorten my term? |
Become mortgage-free quickly |
 |
Pay less interest |
Leverage Your Home's Equity in South Dakota
Take cash out of your home to apply to improvements, renovations, or other necessary expenses.
Why should I cash out? |
Renovations |
 |
Pay for other debts or emergencies |
South Dakota Mortgage Rates
Home to the famous Mount Rushmore, Badlands National Park, and Crazy Horse Memorial, South Dakota is one of the most diverse Midwest states. It offers residents picturesque prairie and mountain views, a vibrant and unique culture, a strong local economy, and a growing number of career opportunities across the state. In addition, the average price of a home in South Dakota is significantly lower than the national average.
Editorial note: Some state-specific details are temporarily unavailable. The current rate table above is unaffected.
Common South Dakota Loan Types:
- South Dakota conventional mortgages: South Dakota mortgage requirements and rates will fluctuate across the state depending on the area you live, or want to live, and your financial situation. Compare mortgage rates on FreeRateUpdate.com to discover available rates for you.
- South Dakota FHA loans: South Dakota home loans backed by the FHA are typically offered to first-time home buyers. The FHA doesn't directly offer the loan, but you can find one through an FHA-approved lender at FreeRateUpdate.com today. These loans are typically for low to moderate income borrowers with lower credit scores.
- South Dakota VA loans: VA-backed mortgages are made by private lenders for eligible borrowers who meet VA and lender requirements. Some qualified purchase borrowers may use no down payment, while entitlement, appraisal, occupancy, funding-fee rules and exemptions, and lender requirements still apply.
Program information: FHA (HUD) and VA.gov.
How to Compare South Dakota Mortgage Rates
Mortgage pricing available in South Dakota varies by loan type, lender, borrower profile, property, points, and market timing. Compare rate, APR, points, fees, eligibility, and lock period using the same loan scenario.