Rates

Mediocre mortgages are a dime a dozen. That’s why Sioux Falls Fed flips the script—we have local underwriting, speedy qualification decisions and minimal fees and interest rates. Let’s talk about what the Sioux Falls Fed mortgage team can do for your home purchasing goals.

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Current Home Loan Interest Rates

Your home loan interest rate doesn’t have to break your budget at Sioux Falls Federal Credit Union. Here’s what you can expect currently:

Home Mortgages 10/21/2020

Mortgage Type Rate APR*
30 Year Fixed Rate 2.50% 2.604%
20 Year Fixed Rate 2.50% 2.649%
15 Year Fixed Rate 2.125% 2.317%
10 Year Fixed Rate 2.250% 2.533%
South Dakota Housing 30 Year FHA 2.375% 2.593%
South Dakota Housing 30 Year FHA Fixed Rate Plus 2.875% 3.099%
FHA 30 Year Fixed Rate 2.50% 2.732%
FHA 15 Year Fixed Rate2 2.50% 2.931%
VA 30 Year Fixed Rate 2.50% 2.846%
VA 15 Year Fixed Rate 2.625% 3.271%
Mortgage Type Rate APR* Term (Months)
Residential Lot Loans 80% LTV term 15 years 6.75% 6.921% 180
Construction Loan Option 1 2.990% 6.285% 9
Construction Loan Option 2 3.990% 6.805% 9

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Home Equity - 5 Year Term

Credit Tier 1 2 3
<70% CLTV 4.50% 4.75% 5.25%
70-79.9% CLTV 4.75% 5.00% 5.50%
80-89.9% CLTV 5.00% 5.25% 5.75%

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Home Equity - 7 Year Term

Credit Tier 1 2 3
<70% CLTV 5.00% 5.25% 5.75%
70-79.9% CLTV 5.50% 5.75% 6.25%
80-89.9% CLTV 5.75% 6.00% 6.50%

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Home Equity - 10 Year Term

Credit Tier 1 2 3
<70% CLTV 5.25% 5.50% 6.00%
70-79.9% CLTV 5.50% 5.75% 6.25%
80-89.9% CLTV 5.75% 6.00% 6.50%

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Home Equity - 6 Year Balloon***

Credit Tier 1 2 3
up to 90% CLTV 5.75% 6.00% 6.50%

***15-year (180) term with a 6-year balloon.

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HELOC (Variable)

Credit Tier 1 2 3
up to 80% CLTV 4.50% 4.50% 4.75%
81-90% CLTV 4.50% 4.50% 5.00%

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*APR - Annual Percentage Rate.  Your loan interest APR will be determined by your credit score. The numbered tiers shown represent credit score ranges as follows: 1= 720+, 2= 680-719, 3= 679 or lower. The specific rate will be set at the time of loan application review.  Variable rates are subject to change at the end of each calendar quarter and shall not exceed 18.00% APR.