Secure a VA Mortgage in South Dakota

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

What is the VA Loan?

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.

VA Loan Benefits in South Dakota

Some of the best benefits available to South Dakota veterans through the VA loan program are as follows.

• No down payment.
• Minimal credit score and income needs.
• Private mortgage insurance is not necessary.
• Closing costs can be paid by the seller.
• Many different loan types are available.

VA Loan Requirements and Eligibility

In order to qualify for a VA loan, you must meet three primary requirements.  These are listed here.

• You must be an American citizen.
• You must have served with a branch of the US Armed Services for at least 90 continuous days.  These days must have been active duty.
• You must not have been dishonorably discharged.
• You should have a credit score of 620 or greater. 

VA Refinance

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. 

South Dakota VA Mortgage Rates

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.

VA Lenders in South Dakota

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.

South Dakota Military Information

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.

VA Loan Lending Limits in South Dakota

Below is the list of the maximum VA loan limits for counties in South Dakota:

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

Lenders in: South Dakota.