South Dakota Mortgage Guarantee
Loan Factory $2,000 Best Price Guarantee in South Dakota
South Dakota borrowers qualify for the Loan Factory $2,000 Best Price Guarantee on fixed-rate Conventional, FHA, and VA loans of $200,000+. Rate Direct is the consumer pricing site of a Loan Factory loan officer - apply through us to get live wholesale rates AND the guarantee backstop.
Live South Dakota rates below
The pricer is preset to Sioux Falls, South Dakota. Adjust the scenario to your loan amount, FICO, and property profile - rates return in seconds.
Conventional Loan Facts
- Down payment as low as 3% for first-time homebuyers, 5% for others
- Down payment assistance programs available to fully cover the 3% down payment
- Private Mortgage Insurance (PMI) required below 80% LTV - automatically removed at 78%
- Maximum DTI typically 45%, up to 50% with strong compensating factors
- Minimum credit score generally 620; best rates at 740+
- Available for primary residence, second home, or investment property
- No upfront mortgage insurance premium - only monthly PMI if applicable
South Dakota Guarantee at a Glance
Payout
$2,000 if competitor closes a strictly better loan
Eligible programs
Fixed-rate Conventional Conforming, FHA, VA
Min loan size
$200,000
2026 conforming limit
$806,500 baseline
Frequently Asked Questions
Is the Loan Factory $2,000 Best Price Guarantee available in South Dakota?+
Yes. South Dakota is one of the states where the Loan Factory $2,000 Best Price Guarantee is available. It covers qualifying fixed-rate Conventional, FHA, and VA loans of $200,000 or higher.
How does the $2,000 guarantee work for South Dakota borrowers?+
Get a same-day quote from Rate Direct and a competing lender, lock both on the same day, submit the competitor's locked Loan Estimate within one business day, close with the competitor, then submit the final Closing Disclosure within 10 business days. If the competing loan was a strictly better combination of rate, fees, and MI, Loan Factory sends a $2,000 check within 30 days.
What is the minimum loan amount in South Dakota?+
$200,000. Loans below this size are not eligible for the $2,000 guarantee. The $200,000 minimum applies uniformly across all states where the program is available.
Are jumbo loans in South Dakota eligible?+
No. Jumbo loans and High Balance loans are excluded from the $2,000 guarantee, including in South Dakota. The 2026 Conventional Conforming baseline limit is $806,500. Counties in South Dakota follow the baseline limit.
Does the guarantee work in Sioux Falls or other South Dakota cities?+
Yes - it applies uniformly across South Dakota, including Sioux Falls. There is no city or county exclusion within an eligible state.
Can I see live South Dakota rates without giving personal info?+
Yes. The pricer above is preset to South Dakota (Sioux Falls area). Enter your scenario and see live wholesale rates from hundreds of lenders in seconds - no name, phone, email, SSN, or credit pull required.
Apply in South Dakota
Same-day Loan Estimate and pre-approval. Wholesale pricing, $0 origination, $2,000 Best Price Guarantee on qualifying loans.
Start my applicationFull guarantee terms
National program rules
South Dakota mortgage rates
State rate landing page
South Dakota DPA programs
Down payment assistance