Home loan interest ratesHave been an extremely hot topic over the last week as many mortgage lenders are reporting all time lows for the 30 year fixed mortgage. With this in mind it should come as no surprise to see home loan interest rates and South Dakota being a very popular topic. Wells Fargo, Chase and Bank of America have all recently quoted 30 year fixed mortgage rates under 5%. They are some websites are reporting that 30 year fixed mortgage rates are as low as 4.4%. With this being the case many borrowers may benefit or refinancing to a lower rate as soon as today.
Before deciding to refinance or walk into your first mortgage is important to realize that low home loan interest rates and South Dakota are not attainable from everyone. If you have an extremely low credit score in your debt to income ratio is quite high then it will be nearly impossible to lock in to low mortgage interest rates in any state in the country. Even though Wells Fargo, Chase and Bank of America are quoting low rates it does not mean that everyone can lock below 5% right now.
For much more information on home loan interest rates make sure to check out the comments below or read the in depth article Home Loan Interest Rates – How Can I Refinance or Lock In To a Low Mortgage Rate Today?
Author: Andrew Jackson
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Many states are seeing all time low interest rates for the 30 year and 15 year fixed mortgage. Low home loan interest rates in South Dakota are attainable but you will need to be the best of the best borrowers. With this in mind it might be smart to check your credit score and make certain that you have a very clean financial report card.
Although South Dakota is not the most populated state in the nation there are still some larger cities that offer opportunities when it comes to low home loan interest rates in South Dakota. It is sometimes worth it to take a trip to a larger cities as you will have more of a selection when it comes to mortgage interest rates. With that being the case here is a list of the larger cities in South Dakota:
Sioux Falls, SD
Population: 123,975 (US Census 2000)
Rapid City, SD
Population: 59,607 (US Census 2000)
Aberdeen, SD
Population: 24,658 (US Census 2000)
Watertown, SD
Population: 20,237 (US Census 2000)
Brookings, SD
Population: 18,504 (US Census 2000)
Mitchell, SD
Population: 14,558 (US Census 2000)
Pierre, SD
Population: 13,876 (US Census 2000)
Yankton, SD
Population: 13,528 (US Census 2000)
Huron, SD
Population: 11,893 (US Census 2000)
Vermillion, SD
Population: 9,765 (US Census 2000)