Veterans who live in South Dakota are able to take advantage of the South Dakota VA loan, a specialized loan program backed by the US government through the Department of Veteran Affairs (VA).
Jump to: Eligibility | Loan Limits
The VA loan program exists to help veterans purchase homes. The VA does not provide the loans. Rather, private lenders do. These lenders are able to offer better rates and terms to veterans due to the fact that the VA takes on some of the lending risk.
Some of the best benefits available to South Dakota veterans through the VA loan program are as follows.
In order to qualify for a VA loan, you must meet three primary requirements. These are listed here.
You can refinance your existing mortgage with a South Dakota VA Streamline (IRRRL) refinance. This can save you a lot of money if you’re able to secure a lower interest rate. The Streamline program allows you to skip paying several fees connected with a refinance and move directly into a new mortgage.
If a VA IRRRL refinance is not what you're looking for, the VA Cash-Out option is also available. It allows borrowers to withdraw as much as 100% of their current home equity as spendable cash. If borrowers do not currently have a VA loan, they may refinance into a VA mortgage with the Cash-Out option.
The mortgage rate you get on your VA loan will determine how much interest you’ll have to pay over time. As a result, the lower your rate, the less money you’ll have to pay for your home. Compare mortgage rates offered by several lenders in your area to find the best deal.
To find out what mortgage rates are available to you, fill out the form above. We’ll connect you with up to four lenders in your area who are qualified to handle your VA loan. Make sure you find out what the VA loan limits are in your area. If you need more information, contact the Department of Veteran Affairs.
There is only one active military installation in South Dakota, but it is a major one. This is Ellsworth Air Force Base. Ellsworth AFB is where VA home loan applicants in South Dakota often live and work.
County | Loan Limit |
---|---|
AURORA | $417,000 |
BEADLE | $417,000 |
BENNETT | $417,000 |
BON HOMME | $417,000 |
BROOKINGS | $417,000 |
BROWN | $417,000 |
BRULE | $417,000 |
BUFFALO | $417,000 |
BUTTE | $417,000 |
CAMPBELL | $417,000 |
CHARLES MIX | $417,000 |
CLARK | $417,000 |
CLAY | $417,000 |
CODINGTON | $417,000 |
CORSON | $417,000 |
CUSTER | $417,000 |
DAVISON | $417,000 |
DAY | $417,000 |
DEUEL | $417,000 |
DEWEY | $417,000 |
DOUGLAS | $417,000 |
EDMUNDS | $417,000 |
FALL RIVER | $417,000 |
FAULK | $417,000 |
GRANT | $417,000 |
GREGORY | $417,000 |
HAAKON | $417,000 |
HAMLIN | $417,000 |
HAND | $417,000 |
HANSON | $417,000 |
HARDING | $417,000 |
HUGHES | $417,000 |
HUTCHINSON | $417,000 |
HYDE | $417,000 |
JACKSON | $417,000 |
JERAULD | $417,000 |
JONES | $417,000 |
KINGSBURY | $417,000 |
LAKE | $417,000 |
LAWRENCE | $417,000 |
LINCOLN | $417,000 |
LYMAN | $417,000 |
MCCOOK | $417,000 |
MCPHERSON | $417,000 |
MARSHALL | $417,000 |
MEADE | $417,000 |
MELLETTE | $417,000 |
MINER | $417,000 |
MINNEHAHA | $417,000 |
MOODY | $417,000 |
PENNINGTON | $417,000 |
PERKINS | $417,000 |
POTTER | $417,000 |
ROBERTS | $417,000 |
SANBORN | $417,000 |
SHANNON | $417,000 |
SPINK | $417,000 |
STANLEY | $417,000 |
SULLY | $417,000 |
TODD | $417,000 |
TRIPP | $417,000 |
TURNER | $417,000 |
UNION | $417,000 |
WALWORTH | $417,000 |
YANKTON | $417,000 |
ZIEBACH | $417,000 |
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