Skip to content
Apply Now
Ready to get started?

Reach out and give us a call. We’re here to help.

Need support?

Have questions about your current product? Give us a call and we’ll sort it out.

Today's Refinance Rates in South Dakota

Get a Lower rate in South Dakota whether you’re looking to reduce your monthly payment, change your loan term or refinance into a different rate.

Get a Personalized Quote
>
A woman smiles while learning about refinancing in South Dakota.

Current South Dakota Mortgage and Refinance Rates

Buy A Home
Lower My Rate

Get your personalized rate

We're all about lower rates — and lower stress. Our online process is seamless and stress-free, and our expert loan officers analyze your details to give you a personalized estimate so that you can make an informed decision.

See Personalized Rates
>
No-impact credit check. No commitment.

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

What Affects Mortgage Refinance Rates in South Dakota

South Dakota refinance rates reflect national lending conditions along with the details of your replacement mortgage. Your credit profile, loan-to-value, loan structure, property details and occupancy can affect the rate and terms available to you.

A refinance quote can differ from a purchase quote for the same borrower because the purpose and structure of the transaction are different. Compare the proposed new mortgage with the loan you already have, including its rate, term and costs.

The interest rate is the percentage charged for borrowing the principal. The annual percentage rate, or APR, is a broader annualized measure that includes the interest rate plus certain loan costs. APR can provide additional context when two refinance offers have different rates or upfront costs.

If you are buying rather than refinancing, compare South Dakota mortgage rates.

Types of Refinances Available in South Dakota

A rate-and-term refinance replaces your existing mortgage without taking cash out of the property. The replacement loan can change the rate, term or both.

A lower interest rate could reduce your monthly principal-and-interest payment, while changing the term can affect both the payment and how long you carry the mortgage. Compare those changes with the costs required to complete the refinance.

How long you expect to keep the new mortgage also affects the calculation. Use the refinance break-even calculator to compare the upfront costs with the expected monthly savings.

FHA and VA Refinance Options in South Dakota

If your current mortgage is FHA-backed, an FHA streamline refinance uses limited borrower credit documentation and underwriting to refinance an existing FHA-insured mortgage. An FHA simple refinance also replaces an existing FHA mortgage but uses an appraisal and credit-qualifying underwriting. HUD's FHA streamline refinance guidance covers the streamline requirements.

If your current mortgage is VA-backed, a VA Interest Rate Reduction Refinance Loan, or IRRRL, may help lower your monthly mortgage payment or make payments more stable. The VA's IRRRL guidance requires the mortgage being refinanced to already be VA-backed.

Conforming Loan Limits for a South Dakota Refinance

South Dakota uses the national baseline conforming loan limit throughout the state. Under FHFA's 2026 conforming loan limits, the limit for a one-unit property is $832,750.

The same one-unit limit applies in Minnehaha County in the Sioux Falls area, Pennington County in the Rapid City area, Lincoln County and Brown County. A one-unit refinance above $832,750 exceeds the 2026 conforming loan limit anywhere in South Dakota.

A mortgage below that amount still has to meet applicable conventional mortgage requirements to qualify as conforming.

South Dakota Refinance FAQs

When Does Refinancing Make Sense in South Dakota?

Compare your existing mortgage with the proposed replacement loan, including the interest rate, monthly payment, new loan term and closing costs. The length of time you expect to keep the new mortgage affects whether any monthly savings have enough time to offset the upfront costs.

Do Sioux Falls or Rapid City Have Higher Conforming Loan Limits?

No. Minnehaha County in the Sioux Falls area and Pennington County in the Rapid City area both use the $832,750 conforming loan limit for one-unit properties in 2026. The same one-unit limit applies throughout South Dakota.

Can I Refinance a VA Loan in South Dakota?

Yes. If your current mortgage is VA-backed, an IRRRL may be available to refinance it. The existing mortgage must be VA-backed, and VA and lender requirements apply to the new loan.

Find Out Why South Dakotans Love Lower

Don't take our word for it. We've got 50,000 five-star reviews and counting. Read what real customers have to say.
Trustpilot | Google | Zillow | Bankrate
5.0

Nadia made the buying experience great for us. She was very helpful and informative with us. She went out of her way to help us and make the experience as smooth as possible. We will gladly recommend her to anyone we know that may be interested in purchasing or refinancing a hom. thank you for everything.

Abel Q.

Verified Customer

June 16, 2026

5.0

I cannot say enough wonderful things about Karylle & her team and the entire experience we had. From the very beginning, they were incredibly patient, understanding, and thorough. They took the time to explain every step of the process in detail and always made sure we understood what was happening. What stood out the most was that they genuinely cared about us as people, not just as clients. They took the time to understand our family, our situation, and how important… this home was to us. During what can be an incredibly stressful process, they were always reassuring, responsive, and willing to answer every question we had. We truly felt like we were more than just another loan application. They treated our family with kindness, respect, and genuine care, and that meant so much to us. I would 100% recommend them to anyone looking to purchase a home or refinance. If you want someone who is knowledgeable, patient, detailed, compassionate, and truly invested in helping you succeed, look no further. We are so grateful for everything they did to help our family get into our new home! 🏡❤️

Amber B.

Verified Customer

August 8, 2026

5.0

Kari's clear communication and partnership made our refinance seemless! She is knowledgable about different options and really helped us to feel assured that we were making the right decisions along the way!

Charlee O.

Verified Customer

June 11, 2026

5.0

Rick has helped us so much throughout the home buyer process. He is knowledgeable and helpful with various options. I would definitely recommend using his services if you are in the market for buying or refinancing!

Ronald D.

Verified Customer

July 31, 2026

5.0

Stacey is a pleasure to work with. She kept me up to date and on track for my refiannce.

Joe C.

Verified Customer

August 5, 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 appreciate his help and would definitely recommend him. Thank you, Tyler!

Fouad Z.

Verified Customer

August 24, 2026

Lower Rates. Lower Stress. Free Refi for Life.

We combine a seamless, fully online experience with human expertise to help you get the best possible rate. Applying online comes with no commitment and a no-impact credit check.

50,000+ 5-star reviews
Lower rates
Easy online application
Fast closing
Seamless online process

And once you buy a home with Lower, you can refinance for free. For life.

Ready to get your personalized rate?

Apply today >

Clear
Selection