South Dakota VA Loan Rates, Closing Costs & Stats

South Dakota

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    • A VA loan is a mortgage loan that’s backed by the Department of Veterans Affairs (VA) for those who have served or are presently serving in the U.S. military. The VA does not directly lend, it guarantees the loans made by private lenders to veterans, active military personnel, and qualifying military spouses.

    The most obvious benefit of VA loans is that no downpayment is necessary to purchase a home. They will also typically have significantly lower fees-- meaning that if you're eligible to receive a VA loan, it will likely be the most favorable option. VA loans come in 3 varities: purchase, refinance and cash out refis.

    For additional benefits of VA loans, click here.

    South Dakota VA Loans, 30 Year Fixed Rates

    30 Year VA mortgages in South Dakota averaged 6.15% for the week of 2025-04-04, compared to the national average (all VA variants) of 6.06% for the same period.

    South Dakota's average VA mortgage closing costs are $6,265.

    The average rate for the prior week (2025-03-28) was 6.37% and one month ago for the week of 2025-02-28, the average rate was 6.54%.

    The average rate one year ago was 6.75%.

    For refis of the same type during the week of 2025-04-04, the average rate was 6.08%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    South Dakota VA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for VA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the South Dakota level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    Mortgage Research Center, LLC 197 6.34% $6,412
    Plains Commerce Bank 149 6.03% $9,043
    CMG MORTGAGE, INC. 125 6.09% $10,161
    UNITED WHOLESALE MORTGAGE, LLC 112 6.24% $7,862
    PENNYMAC LOAN SERVICES, LLC 56 5.81% $9,081
    QUICKEN LOANS, LLC 55 6.08% $10,336
    FREEDOM MORTGAGE CORPORATION 52 6.32% $10,923
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 40 6.20% $5,738
    NEWREZ LLC 38 5.80% $8,736
    First Bank & Trust 35 5.88% $7,282
    USAA Federal Savings Bank 34 6.24% $6,792
    GUARANTEED RATE, INC. 27 6.08% $4,891
    First PREMIER Bank 25 5.80% $6,225
    Granite Community Bank 24 5.80% $7,834
    NEW DAY FINANCIAL, LLC 22 7.38% $11,218
    BLACK HILLS FEDERAL CREDIT UNION 22 5.68% $7,741
    LAKEVIEW LOAN SERVICING, LLC 18 5.60% $5,590
    NAVY FEDERAL CREDIT UNION 17 5.82% $4,287
    BANKWEST, INC. 17 6.08% $7,207
    CROSSCOUNTRY MORTGAGE, LLC 17 6.46% $7,735
    LOANDEPOT.COM, LLC 15 5.86% $11,479
    Gateway First Bank 14 6.38% $6,636
    TOWNE MORTGAGE COMPANY 14 5.64% $11,921
    Century Mortgage Company DBA Century Lending Company 14 6.01% $11,105
    Dacotah Bank 13 6.17% $6,605
    First International Bank & Trust 13 6.21% $5,891
    AMERICAN PACIFIC MORTGAGE CORPORATION 12 6.06% $11,638
    First Dakota National Bank 12 6.07% $6,165
    PLANET HOME LENDING, LLC 11 5.51% $6,875
    U.S. Bank 11 6.60% $4,764
    CU MORTGAGE DIRECT, LLC 10 6.06% $7,153
    SIOUX FALLS 10 5.59% $7,790
    NBKC BANK 9 5.87% $7,450
    Mr. Cooper ( Nationstar Mortgage ) 9 6.38% $5,783
    The Federal Savings Bank 8 6.11% $20,323
    MUTUAL OF OMAHA MORTGAGE, INC. 8 6.34% $6,014
    CORTRUST MORTGAGE, INC. 8 5.78% $6,627
    American Bank & Trust 7 6.18% $11,352
    Servion, Inc. 7 6.63% $7,466
    Flagstar Bank, FSB 7 6.57% $10,378
    First National Bank of Omaha 6 6.04% $9,641
    Carrington Mortgage Services, LLC 6 5.79% $10,547
    First Federal Bank 6 5.85% $4,944
    Flanagan State Bank 6 6.58% $5,295
    VILLAGE CAPITAL MORTGAGE 6 5.62% $7,193
    Wells Fargo Bank 6 6.35% $7,546
    Citizens Bank 5 5.58% $9,506
    GUILD MORTGAGE COMPANY 5 6.53% $15,003
    BROKER SOLUTIONS, INC. 4 6.37% $11,402
    CARDINAL FINANCIAL 3 7.21% $15,149
    MOVEMENT MORTGAGE, LLC 3 6.17% $17,977
    PRIMARY RESIDENTIAL MORTGAGE, INC. 3 5.79% $5,932
    Reliabank Dakota 3 6.25% $6,269
    The Loan Store, Inc. 3 6.16% $12,388
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 6.50% $9,678
    AMERICAN FINANCIAL RESOURCES, INC. 2 6.25% $9,676
    FIRST COMMUNITY MORTGAGE, INC. 2 6.37% $5,593
    CHURCHILL MORTGAGE CORPORATION 2 6.94% $7,174
    OPEN MORTGAGE, LLC 2 6.00% $8,265
    PHH Mortgage Corporation 2 5.25% $1,598
    Barrington Bank & Trust Company, N.A. 2 6.25% $2,142
    SUN WEST MORTGAGE COMPANY, INC. 2 5.87% $9,895
    AmeriHome Mortgage Company, LLC 2 6.13% $4,867
    American Mortgage & Equity Consultants, Inc. 2 6.00% $8,939
    HOMESIDE FINANCIAL, LLC 2 6.31% $14,945
    CANOPY MORTGAGE, LLC 1 5.25% $10,117
    PLAZA HOME MORTGAGE, INC. 1 7.38% $9,665
    PNC Bank 1 5.75% $25,258
    POLARIS HOME FUNDING CORP. 1 6.75% $8,310
    First Interstate Bank 1 5.13% $2,840
    Prosperity Home Mortgage, LLC 1 5.25% $3,033
    AIR ACADEMY 1 5.63% $15,681
    First Western Bank & Trust 1 6.25% $9,892
    Willamette Valley Bank 1 6.63% $8,288
    GREENSTATE CREDIT UNION 1 6.63% $10,976
    Waterstone Mortgage Corporation 1 5.75% $20,955
    Texana Bank 1 6.25% $7,198
    AMERISAVE MORTGAGE CORPORATION 1 5.88% $29,235
    Lincoln FSB of Nebraska 1 6.75% $3,108
    ZILLOW HOME LOANS, LLC 1 6.75% $2,023
    UNION HOME MORTGAGE CORP. 1 5.63% $3,747
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 7.25% $725
    OceanFirst Bank 1 5.75% $2,948
    Ixonia Bank 1 6.13% $5,024
    Opportunity Bank of Montana 1 5.88% $5,303
    Central Bank 1 5.75% $3,897
    PENTAGON FEDERAL CREDIT UNION 1 6.13% $2,881
    LIBERTY FIRST 1 6.25% $2,785
    DAS Acquisition Company, LLC 1 5.75% $6,201

    The top South Dakota VA lender as defined by loan originations is Mortgage Research Center, LLC, with 197 VA loans originated. Their average total fees are $6,412, which is $2,632 lower than the next largest lender, Plains Commerce Bank.

    The lowest fee South Dakota VA lenders (with over 10 loans originated) are NAVY FEDERAL CREDIT UNION ($4,287), U.S. Bank ($4,764), GUARANTEED RATE, INC. ($4,891), LAKEVIEW LOAN SERVICING, LLC ($5,590) and FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($5,738).

    The lowest rate South Dakota VA lenders (with over 10 loans originated) are PLANET HOME LENDING, LLC (5.51%), SIOUX FALLS (5.59%), LAKEVIEW LOAN SERVICING, LLC (5.60%), TOWNE MORTGAGE COMPANY (5.64%) and BLACK HILLS FEDERAL CREDIT UNION (5.68%).

    VA Loan Features

  • No down payment required
  • Negotiable and competitive interest rate.
  • Ability to finance the VA funding fee (plus reduced funding fees with a down payment of at least 5 percent and exemption for veterans receiving VA compensation).
  • VA rules limit the amount you can be charged for closing costs.
  • Closing costs are comparable with other financing types (and may be lower).
  • Closing costs may be paid by the seller.
  • No private mortgage insurance premiums are required.
  • An assumable mortgage.
  • Right to prepay your mortgage without penalty.
  • For homes inspected by VA during construction, a warranty from builder and assistance from VA to obtain cooperation of builder.
  • VA assistance to veteran borrowers in default due to temporary financial difficulty.