South Dakota VA Loans
Whether you receive PCS orders to relocate to South Dakota or are already a resident, purchasing a home can be a great financial move. Using a VA loan in South Dakota has many benefits for seasoned and first-time homebuyers alike.
With the average listing price of a home in South Dakota landing at $320,504, the VA loan’s signature $0-money-down benefit is a considerable advantage for South Dakota homebuyers.
See also: VA Loan Options for Other States
How to get a VA Loan in South Dakota
VA loans are made by private lenders and guaranteed by the Department of Veterans Affairs. Because private lenders make the loans and not the VA, you need to find a lender licensed in the state you plan to purchase or refinance.
For example, if you're purchasing a home in Sioux Falls, SD, you'll need to find a lender licensed in South Dakota to do the loan.
Other Considerations for Getting a VA Loan in South Dakota
VA borrowers in South Dakota should also consider the cost and impact of VA loan limits and property taxes when making their home purchase.
South Dakota VA Loan Limits
VA borrowers in South Dakota with their full VA loan entitlement are not restricted by VA loan limits. This means you can borrow as much as a lender is willing to lend without needing a down payment.
However, Veterans without their full VA loan entitlement are still bound to South Dakota’s VA loan limits.
As of January 1, 2024, VA loan limits for all counties in South Dakota are $766,550.
Property Taxes in South Dakota
Another consideration for VA buyers in South Dakota is property taxes. For certain VA buyers, there are exemptions.
You may be eligible for a property tax exemption in South Dakota if you meet one of the following conditions:
- A disabled veteran may receive an exemption of up to $150,000 on their primary residence if the veteran is 100 percent disabled as a result of service
- Paraplegic veterans may receive a full property tax exemption as well as properties worth $150,000 or less
If you are required to pay property tax in South Dakota, the American Community Survey by the U.S. Census Bureau estimates you may pay the following in each county:
| County | Property Tax Rate |
|---|---|
| Aurora County | 1.52% |
| Beadle County | 1.58% |
| Bennett County | 1.82% |
| Bon Homme County | 1.63% |
| Brookings County | 1.37% |
| Brown County | 1.35% |
| Brule County | 1.04% |
| Buffalo County | 1.63% |
| Butte County | 1.25% |
| Campbell County | 1.76% |
| Charles Mix County | 1.22% |
| Clark County | 1.13% |
| Clay County | 1.40% |
| Codington County | 1.13% |
| Corson County | 1.35% |
| Custer County | 1.05% |
| Davison County | 1.38% |
| Day County | 1.35% |
| Deuel County | 1.20% |
| Dewey County | 1.42% |
| Douglas County | 1.44% |
| Edmunds County | 1.11% |
| Fall River County | 1.50% |
| Faulk County | 1.00% |
| Grant County | 1.05% |
| Gregory County | 1.42% |
| Haakon County | 1.22% |
| Hamlin County | 1.21% |
| Hand County | 0.91% |
| Hanson County | 1.15% |
| Harding County | 1.50% |
| Hughes County | 1.29% |
| Hutchinson County | 1.59% |
| Hyde County | 1.49% |
| Jackson County | 1.37% |
| Jerauld County | 1.18% |
| Jones County | 0.76% |
| Kingsbury County | 1.20% |
| Lake County | 1.19% |
| Lawrence County | 1.20% |
| Lincoln County | 1.36% |
| Lyman County | 1.10% |
| McCook County | 1.22% |
| McPherson County | 1.67% |
| Marshall County | 1.21% |
| Meade County | 1.31% |
| Mellette County | 1.90% |
| Miner County | 1.31% |
| Minnehaha County | 1.43% |
| Moody County | 1.38% |
| Pennington County | 1.41% |
| Perkins County | 1.27% |
| Potter County | 1.32% |
| Roberts County | 1.27% |
| Sanborn County | 1.28% |
| Spink County | 1.61% |
| Stanley County | 1.13% |
| Sully County | 0.84% |
| Todd County | 2.69% |
| Tripp County | 1.13% |
| Turner County | 1.33% |
| Union County | 1.33% |
| Walworth County | 1.62% |
| Yankton County | 1.28% |
| Ziebach County | 0.98% |
How VA Loans Work in South Dakota
View the graphic below to learn more about how VA loans work in South Dakota.
