Interest Rates

SD Housing / Ready To Buy? / Interest Rates

Homebuyer Loan Programs Interest Rates

GOVERNMENTCONVENTIONAL
FHA, VA and USDA Rural DevelopmentFHA, VA and USDA Rural DevelopmentPMI Insured and UninsuredPMI Insured and Uninsured
SD Housing Tax Credit (MCC)** or Repeat HomebuyerSD Housing Tax Credit (MCC)** or Repeat Homebuyer
Fixed Rate Buy Down5.250%5.625%5.500%5.875%
1% Discount Point1% Discount Point1% Discount Point1% Discount Point
Fixed Rate5.500%5.875%5.750%6.125%
Fixed Rate Plus Loan 3%*6.000%6.375%6.250%6.625%
Fixed Rate Plus Loan 5%*6.375%6.750%7.000%7.375%
Effective May 5, 2023 at 9:00 AM CST

*The Fixed Rate Plus Loan includes downpayment and closing costs assistance as a second mortgage at 0% with no payments equal to either 3% or 5% of the first mortgage loan amount. Interest Rates are subject to change without prior notice. Advertised rates are for a 30-year fixed-rate mortgage.

This is not a commitment to lend. SD Housing does not lend money directly to consumers. We use approved Participating Lenders to qualify consumers and make all mortgage loans. Homebuyers interested in applying for financing should contact one of our Participating Lenders. This is not an advertisement for credit as defined in Regulation Z; contact a Participating SD Housing Lender for Annual Percentage Rate ("APR") information.

**The SD Housing Tax Credit (MCC) includes a $250 Tax Credit Fee.


Know What You’ll Pay

Budgeting for homeownership takes planning ahead—from the utility bills to potential needed repairs. The most important number to consider in advance, though, is your monthly mortgage payment. The calculator below can give you a rough estimate of what your regular repayment installments might look like based on your own personal mortgage situation.