SD — South Dakota
South Dakota Mortgage Guide
No state income tax; Ellsworth AFB supports VA loan demand near Rapid City.
2024 Conforming Limit
$766,550
Avg 30yr Fixed Rate
6.90%
VA Friendly
No
First-Time Buyer Program
SDHDA First-Time Homebuyer Program
South Dakota offers down payment assistance (DPA) for qualifying buyers. Contact a participating lender or your state housing finance authority for current income limits and program availability.
Understanding Your Conforming Limit
The 2024 FHFA conforming loan limit for South Dakota is $766,550. Loans at or below this amount qualify as conforming loans, which typically carry lower interest rates and require less documentation than jumbo loans.
Loans above $766,550 require jumbo financing, which typically requires a 10–20% down payment and a credit score of 700+.
Popular Loan Types in South Dakota
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