Interest Rates
Home / Ready To Buy? / Interest Rates
Homebuyer Loan Programs Interest Rates
Effective November 13, 2024 at 9:00 AM CST
Interest Rates are for a 30-year fixed-rate mortgage. Interest Rates are subject to change without prior notice. 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 SD Housing’s 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 Fixed Rate Plus Loan (FRPL) includes downpayment and closing cost assistance as a second mortgage at 0%, with no payments. The FRPL is equal to either 3% or 5% of the first mortgage loan amount.
**The Grants for Grads option includes a downpayment and closing cost assistance as a gift. The Grants for Grads is equal to 5% of the first mortgage loan amount.
***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.
Disclaimer: The calculations derived from the mortgage calculator are for illustrative purposes only, contain samples and estimates, and do not necessarily reflect all potential HOA fees, real estate taxes, homeowner’s insurance, hazard insurance, mortgage insurance, or special assessments. Actual loan interest rates and payments are based on multiple factors including market conditions, points, loan amount, loan-to-value, borrower’s credit, property type, and occupancy. Forecasts, projections, and other predictive statements should never be relied upon. You should consult your own accounting, legal, and tax advisors to evaluate any real estate transaction's risks, consequences, and suitability. SD Housing makes no guarantees as to market conditions. Real estate market conditions involve risks, variables, and uncertainties that may cause the real estate values to differ materially from geographic areas, timeframes, and product types.