South Dakota Mortgage Refinance Rates

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Loan Type	Rate	APR	Points	Est. Monthly Payment
FHA 30-Year Fixed	6.500%	7.336%	2.000	$2,250
VA 30-Year Fixed	6.500%	6.902%	1.875	$2,239
Conventional 15-Year Fixed	6.375%	6.871%	2.125	$3,024
Conventional 30-Year Fixed	6.875%	7.175%	2.000	$2,299
Jumbo 30-Year Fixed	6.875%	7.119%	2.250	$6,240

Loan Type	Rate	APR	Points	Est. Monthly Payment
FHA 30-Year Refinance	6.490%	7.400%	2.500	$2,248
VA 30-Year Refinance	6.500%	6.853%	2.500	$2,223
Conventional 15-Year Refinance	6.375%	6.966%	2.500	$3,024
Conventional 30-Year Refinance	7.000%	7.337%	2.125	$2,328
Jumbo 30-Year Refinance	6.875%	7.131%	2.300	$6,240

Loan Type	Rate	APR	Est. Monthly Payment
Fixed 20-Year HELOC	9.875%	9.875%	$956
Fixed 30-Year HELOC	10.375%	10.375%	$905

Loan Type	Rate	APR	Points	Est. Monthly Payment
Conventional 30-Year Cash-Out Refinance	7.125%	7.505%	2.375	$2,021

FHA 30-Year Fixed: Interest rate offered based on $356,125 loan amount with 7.336% APR and $2,250 monthly payment at 70% loan-to-value (LTV) and 2.000 discount points. Payment is Principal and Interest example only. Rate shown is current as of November 6, 2026.

VA 30-Year Fixed: Interest rate offered based on $354,375 loan amount with 6.902% APR and $2,239 monthly payment at 70% loan-to-value (LTV) and 1.875 discount points. Payment is Principal and Interest example only. Rate shown is current as of November 6, 2026.

Conventional 15-Year Fixed: Interest rate offered based on $350,000 loan amount with 6.871% APR and $3,024 monthly payment at 70% loan-to-value (LTV) and 2.125 discount points. Payment is Principal and Interest example only. Rate shown is current as of November 6, 2026.

Conventional 30-Year Fixed: Interest rate offered based on $350,000 loan amount with 7.175% APR and $2,299 monthly payment at 70% loan-to-value (LTV) and 2.000 discount points. Payment is Principal and Interest example only. Rate shown is current as of November 6, 2026.

Jumbo 30-Year Fixed: Interest rate offered based on $950,001 loan amount with 7.119% APR and $6,240 monthly payment at 70% loan-to-value (LTV) and 2.250 discount points. Payment is Principal and Interest example only. Rate shown is current as of November 1, 2026.

FHA 30-Year Refinance: Interest rate offered based on $356,125 loan amount with 7.400% APR and $2,248 monthly payment at 70% loan-to-value (LTV) and 2.500 discount points. Payment is Principal and Interest example only. Rate shown is current as of November 6, 2026.

VA 30-Year Refinance: Interest rate offered based on $351,750 loan amount with 6.853% APR and $2,223 monthly payment at 70% loan-to-value (LTV) and 2.500 discount points. Payment is Principal and Interest example only. Rate shown is current as of November 6, 2026.

Conventional 15-Year Refinance: Interest rate offered based on $350,000 loan amount with 6.966% APR and $3,024 monthly payment at 70% loan-to-value (LTV) and 2.500 discount points. Payment is Principal and Interest example only. Rate shown is current as of November 6, 2026.

Conventional 30-Year Refinance: Interest rate offered based on $350,000 loan amount with 7.337% APR and $2,328 monthly payment at 70% loan-to-value (LTV) and 2.125 discount points. Payment is Principal and Interest example only. Rate shown is current as of November 6, 2026.

Jumbo 30-Year Refinance: Interest rate offered based on $950,001 loan amount with 7.131% APR and $6,240 monthly payment at 70% loan-to-value (LTV) and 2.300 discount points. Payment is Principal and Interest example only. Rate shown is current as of November 1, 2026.

Fixed 20-Year HELOC: Interest rate offered based on $100,000 loan amount with 9.875% APR and $956 monthly payment at 20% loan-to-value (LTV) and 0.250 discount points. Payment is Principal and Interest example only. Rate shown is current as of November 6, 2026.

Fixed 30-Year HELOC: Interest rate offered based on $100,000 loan amount with 10.375% APR and $905 monthly payment at 20% loan-to-value (LTV) and 0.125 discount points. Payment is Principal and Interest example only. Rate shown is current as of November 6, 2026.

Home equity lines shown assume a 3-year draw period, a $25,000 minimum initial draw, a $99 annual fee, a $100 minimum payment. Repayment period is 204 and 324 months, following the draw period. Terms are an example only and vary by line amount, property and credit profile.

Conventional 30-Year Cash-Out Refinance: Interest rate offered based on $300,000 loan amount with 7.505% APR and $2,021 monthly payment at 70% loan-to-value (LTV) and 2.375 discount points. Payment is Principal and Interest example only. Rate shown is current as of November 6, 2026.

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Refinance Rates Trend in South Dakota

Historical rates shown for context only. See full disclosures below and current rates in the table above. View Legal Disclosures

Rates as of November 6, 2026 · Avg South Dakota property tax: 1.12% · Avg annual home insurance: $3,432

Today’s 30-year fixed refinance rate in South Dakota is 7.000% (7.337% APR), and a 15-year is 6.375% (6.966% APR). On a typical $260,000 South Dakota loan, that’s about $1,730 a month in principal and interest over 30 years or $2,247 over 15. These figures use a typical South Dakota home price of $371,400 (the average of the median prices in its largest cities) and a loan at 70% of that value. Your numbers depend on your balance, your home’s value and your credit.

How much could you save by refinancing in South Dakota?

Monthly savings on a $260,000 balance if you refinance into today’s 30-year fixed rate of 7.000% (7.337% APR), by the rate you have now. If your current rate is at or below about 7.000%, a rate-and-term refinance at today’s rate won’t lower your payment; a cash-out refinance or HELOC may fit better if you need cash.

Your current rate	Payment now	New payment	Monthly savings	Break-even
7.500%	$1,818	$1,730	$88	98 months
8.000%	$1,908	$1,730	$178	49 months
8.500%	$1,999	$1,730	$269	32 months

Principal and interest only, comparing 30-year payments on the same $260,000 balance. New payment at 7.000% (7.337% APR) with 2.125 discount points. Break-even divides the points and lender fees built into that APR (about $8,609 on this loan) by the monthly savings; title, appraisal and other third-party closing costs add to that (try our refinance break-even calculator with your own numbers). Restarting a 30-year term can mean more total interest even when the payment drops.

Refinance payments in South Dakota's largest cities

Estimated monthly cost after refinancing a loan at 70% of each city’s median home price into today’s 30-year fixed rate of 7.000% (7.337% APR), with local property taxes and homeowners insurance.

City	Median price	Loan (70%)	Principal & interest	Taxes & insurance	Total monthly
Sioux Falls	$342,900	$240,000	$1,597	$617	$2,214
Rapid City	$399,900	$280,000	$1,863	$720	$2,582

Principal and interest at 7.000% (7.337% APR) (30-year conforming refinance). Median prices from Movoto market trends, September 2026.

15-year vs. 30-year refinance in South Dakota

On a typical $260,000 South Dakota loan, a 15-year refinance costs about $517 more a month than a 30-year, but saves about $218,254 in interest over the life of the loan.

Loan term	Rate (APR)	Principal & interest	Total interest
30-year fixed	7.000% (7.337% APR)	$1,730	$362,723
15-year fixed	6.375% (6.966% APR)	$2,247	$144,469

Conforming refinance rates for South Dakota as of November 6, 2026. Total interest assumes you keep the loan for the full term and make every scheduled payment. Taxes and insurance are the same for either term.

Refinance options in South Dakota by loan type

The examples above assume you’re refinancing into a conventional loan. If you have an FHA or VA loan, owe more than the conforming limit, or want to take cash out, one of these options may fit better.

If you have an FHA loan

FHA streamline refinance

Refinance an existing FHA loan with limited credit documentation and often no appraisal. FHA mortgage insurance still applies.

If you have a VA loan

VA IRRRL

The VA’s Interest Rate Reduction Refinance Loan lowers your rate with less paperwork than a standard refinance, with no monthly mortgage insurance.

If you owe more than $832,750

Jumbo refinance

A balance above the county’s 2026 conforming loan limit refinances into a jumbo loan.

If you need cash

Cash-out refinance or HELOC

A cash-out refinance replaces your loan with a larger one and pays you the difference. A HELOC lets you borrow against your equity and keep your current rate.

South Dakota refinance FAQs

What are refinance rates in South Dakota today?

As of November 6, 2026, Lower’s 30-year fixed refinance rate in South Dakota is 7.000% (7.337% APR) and the 15-year is 6.375% (6.966% APR). FHA refinances start at 6.490% (7.400% APR) and VA refinances at 6.500% (6.853% APR). Your rate depends on your credit, equity, loan amount and points.

When does refinancing make sense in South Dakota?

When the monthly savings pay back your closing costs before you sell or refinance again. On a typical $260,000 South Dakota loan, going from 8.000% to today’s 7.000% (7.337% APR) saves about $178 a month, and the points and lender fees in today’s quote (about $8,609) take about 49 months to recover. Compare the new term too: restarting at 30 years can add interest even when the payment drops.

Do Sioux Falls or Rapid City have higher conforming loan limits?

No. Every South Dakota county uses the same $832,750 limit for a one-unit home in 2026. A refinance above the limit is a jumbo loan, priced today at 6.875% (7.131% APR) for 30 years.

Can I refinance a VA loan in South Dakota?

Yes. If your current mortgage is VA-backed, a VA Interest Rate Reduction Refinance Loan (IRRRL) can lower your rate with less paperwork than a standard refinance. Lower’s 30-year VA refinance rate in South Dakota is 6.500% (6.853% APR) today. VA and lender requirements apply.

Related South Dakota mortgage pages

Movoto market trends data, September 2026, for each city. Cities are the state's largest by Census Bureau population estimates (Vintage 2024) among cities with Movoto data; where a city has too few sales, the next-busiest markets by homes sold fill in. Conforming loan limits: FHFA, 2026. Property tax estimates use county effective rates from the American Community Survey; homeowners insurance estimates are average annual premiums from The Zebra; your quote will vary. Rates as of November 6, 2026. Examples only; not an offer of credit. Your rate and payment depend on your credit, down payment, loan type and other factors.

5.0

Cam did an amazing job explaining everything from day 1 and guiding us every step of the way. He was on top of things and ensured we never missed a task or action item or deadline. I appreciated how prompt Cam was in responding to any question,… even if it was after work hours. I would highly recommend Cam to anyone looking for a mortgage and if I ever feel the need to refinance, I'll reach out to Cam without any hesitation.

Atif M.

Verified Customer

August 14, 2026

5.0

Having worked alongside Angel Ramos, I can say firsthand that his reputation as an elite sales professional is built on one thing: exceptional client care. In an industry like mortgage lending where trust, timing, and clear communication make a…ll the difference, Angel has always stood out as a top producer whose business was driven by word-of-mouth and repeat referrals. He never approaches sales as a one-time transaction; he treats every client interaction as a long-term partnership. He takes the time to listen, demystify complex financial details, and advocate relentlessly for the best possible outcome. Anyone navigating the loan process—whether purchasing their first home or refinancing—is in remarkably capable, honest hands with Angel. I recommend him without hesitation to any homebuyer or real estate partner looking for a dependable loan officer

Lawrence S.

Verified Customer

November 5, 2026

5.0

Sean is the real deal and made my home purchase very easy. I especially appreciate how he has stayed in touch and presented refinance options as the market evolves. Can’t recommend him enough!

Anthony F.

Verified Customer

October 27, 2026

5.0

Mike was absolutely great to work with! He made the refinance process easy and stress-free, was very professional, responsive, and always took the time to answer my questions. I truly appreciate his help and highly recommend Mike to anyone look…ing for someone trustworthy and knowledgeable.

Kris G.

Verified Customer

September 10, 2026

5.0

Tyler was great to work with throughout the entire process. He was very responsive, knowledgeable, and always took the time to answer my questions and keep me updated. The whole refinance process was smooth and straightforward. I really appreci…ate his help and would definitely recommend him. Thank you, Tyler!

Fouad Z.

Verified Customer

August 24, 2026

5.0

I have used Katie Lepley twice- for a loan to purchase a home and to refinance my condo. She is quick and efficient, very professional and really knows this business. She made the process (both times) so seamless and easy. She and her team kep…t me informed every step of the way. I would use her again and highly recommend her for all your loan needs.

Cindy G.

Verified Customer

October 9, 2026

Atif M. rated Cam Lewis 5.0 stars: Cam did an amazing job explaining everything from day 1 and guiding us every step of the way. He was on top of things and ensured we never missed a task or action item or deadline. I appreciated how prompt Cam was in responding to any question, even if it was after work hours. I would highly recommend Cam to anyone looking for a mortgage and if I ever feel the need to refinance, I'll reach out to Cam without any hesitation. Lawrence S. rated Angel Ramos 5.0 stars: Having worked alongside Angel Ramos, I can say firsthand that his reputation as an elite sales professional is built on one thing: exceptional client care. In an industry like mortgage lending where trust, timing, and clear communication make all the difference, Angel has always stood out as a top producer whose business was driven by word-of-mouth and repeat referrals. He never approaches sales as a one-time transaction; he treats every client interaction as a long-term partnership. He takes the time to listen, demystify complex financial details, and advocate relentlessly for the best possible outcome. Anyone navigating the loan process—whether purchasing their first home or refinancing—is in remarkably capable, honest hands with Angel. I recommend him without hesitation to any homebuyer or real estate partner looking for a dependable loan officer Anthony F. rated Sean ONeil 5.0 stars: Sean is the real deal and made my home purchase very easy. I especially appreciate how he has stayed in touch and presented refinance options as the market evolves. Can’t recommend him enough! Kris G. rated Mike Carey 5.0 stars: Mike was absolutely great to work with! He made the refinance process easy and stress-free, was very professional, responsive, and always took the time to answer my questions. I truly appreciate his help and highly recommend Mike to anyone looking for someone trustworthy and knowledgeable. Fouad Z. rated Tyler Helm 5.0 stars: Tyler was great to work with throughout the entire process. He was very responsive, knowledgeable, and always took the time to answer my questions and keep me updated. The whole refinance process was smooth and straightforward. I really appreciate his help and would definitely recommend him. Thank you, Tyler! Cindy G. rated Katie Lepley 5.0 stars: I have used Katie Lepley twice- for a loan to purchase a home and to refinance my condo. She is quick and efficient, very professional and really knows this business. She made the process (both times) so seamless and easy. She and her team kept me informed every step of the way. I would use her again and highly recommend her for all your loan needs.

South Dakota Mortgage Refinance Rates

Current South Dakota Mortgage and Refinance Rates

Get your personalized rate

Refinance Rates Trend in South Dakota

How much could you save by refinancing in South Dakota?

Refinance payments in South Dakota's largest cities

15-year vs. 30-year refinance in South Dakota

Refinance options in South Dakota by loan type

FHA streamline refinance

VA IRRRL

Jumbo refinance

Cash-out refinance or HELOC

South Dakota refinance FAQs

Related South Dakota mortgage pages

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