Mortgage Refinance Rates in South Dakota (2026)
With South Dakota's median value near $300,000, a homeowner refinancing a typical $204,000 balance from about 7.50% to 6.25% saves roughly $170/month — breaking even on ~$5,100 of costs near month 30.
Refinancing in South Dakota comes in three flavors: lower your rate, shorten your term, or pull out equity to 80% LTV. South Dakota uses the $806,500 conforming baseline statewide.
Refinance snapshot by South Dakota county
| County | Est. Value | 2026 Conforming Limit | Tier |
|---|---|---|---|
| Minnehaha County | $300,000 | $806,500 | Baseline |
| Pennington County | $300,000 | $806,500 | Baseline |
| Lincoln County | $300,000 | $806,500 | Baseline |
| Brown County | $300,000 | $806,500 | Baseline |
| Brookings County | $300,000 | $806,500 | Baseline |
| Codington County | $300,000 | $806,500 | Baseline |
| Meade County | $300,000 | $806,500 | Baseline |
| Lawrence County | $300,000 | $806,500 | Baseline |
| Davison County | $300,000 | $806,500 | Baseline |
| Yankton County | $300,000 | $806,500 | Baseline |
| Hughes County | $300,000 | $806,500 | Baseline |
| Beadle County | $300,000 | $806,500 | Baseline |
| Butte County | $300,000 | $806,500 | Baseline |
| Charles Mix County | $300,000 | $806,500 | Baseline |
| Union County | $300,000 | $806,500 | Baseline |
| Roberts County | $300,000 | $806,500 | Baseline |
| Spink County | $300,000 | $806,500 | Baseline |
| Turner County | $300,000 | $806,500 | Baseline |
Should you refinance in South Dakota?
It comes down to your break-even. Take your closing costs (often 2-5% of the balance) and divide by your monthly savings — if you will stay in the home past that month count, refinancing usually wins. Cash-out makes sense when the rate and use of funds beat your other borrowing options.
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Frequently Asked Questions
- How much can refinancing save in South Dakota?
- On a $204,000 balance near the South Dakota median, dropping from ~7.50% to 6.25% saves about $170/month. Your figure depends on your current rate and balance.
- What is the conforming loan limit in South Dakota for 2026?
- Most South Dakota counties use the $806,500 baseline; high-cost counties go up to $1,209,750. Above that, refinances are jumbo loans.