Interest Rates
SD Housing / Ready To Buy? / Interest Rates
Homebuyer Loan Programs Interest Rates
GOVERNMENT | CONVENTIONAL | |||
---|---|---|---|---|
FHA, VA and USDA Rural Development | FHA, VA and USDA Rural Development | PMI Insured and Uninsured | PMI Insured and Uninsured | |
SD Housing Tax Credit (MCC)** or Repeat Homebuyer | SD Housing Tax Credit (MCC)** or Repeat Homebuyer | |||
Fixed Rate Buy Down | 5.250% | 5.625% | 5.500% | 5.875% |
1% Discount Point | 1% Discount Point | 1% Discount Point | 1% Discount Point | |
Fixed Rate | 5.500% | 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.