South Dakota Mortgage Calculator 2026
Calculate your monthly mortgage payment in South Dakota. Updated with 2026 South Dakota mortgage rates (6.0% avg), property tax (1.32%), and insurance. 10,000+ South Dakota homebuyers use this free calculator.
How to Use This South Dakota Mortgage Calculator
Enter your home price, down payment, and interest rate to instantly calculate your monthly mortgage payment in South Dakota. Results include Principal & Interest (P&I), Property Tax, Homeowners Insurance, and total interest paid.
South Dakota Mortgage Rates in 2026
The average mortgage rate in South Dakota is currently 6.0% for a 30-year fixed-rate loan. Rates typically range from 5.7% to 6.3% depending on your credit score and down payment.
South Dakota Property Taxes
South Dakota has an effective property tax rate of approximately 1.32% per year, higher than the national average.
Average Home Price in South Dakota
The median home price in South Dakota is approximately $280,000. At 20% down ($56,000), your loan amount is $224,000. Monthly P&I at 6.0% is approximately $1,342.
30-Year vs 15-Year Mortgage in South Dakota
| Loan Type | Monthly P&I | Total Interest |
|---|---|---|
| 30-Year Fixed @ 6.0% | $1,342 | $259,120 |
| 15-Year Fixed @ 6.0% | $1,890 | $116,200 |
Popular Cities in South Dakota
Frequently Asked Questions
What is the average mortgage rate in South Dakota?
As of 2026, average South Dakota mortgage rates range from 5.7% to 6.3% for a 30-year fixed-rate loan.
How much down payment do I need in South Dakota?
Most lenders require 3-20% down. Conventional loans need 5-20%, FHA loans accept as little as 3.5%.
Are property taxes high in South Dakota?
South Dakota has an effective property tax rate of approximately 1.32% annually.
What is PMI?
PMI is required if down payment is less than 20%. Once you reach 20% equity, you can request cancellation.
What documents do I need for a South Dakota mortgage?
Pay stubs, W-2s or tax returns (2 years), bank statements (3 months), valid ID, and debt details.
How long does mortgage approval take in South Dakota?
Mortgage approval in South Dakota typically takes 30-45 days from application to closing.