2019 FHA Loan Limits in South Dakota

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Updated on Friday, April 5, 2019

Now that you’ve decided to buy a home in South Dakota, you’ve taken a big first step! You might’ve already given some thought to what type of mortgage would work best for you. There are lots of options, from conventional mortgages to several types of federally insured loans.

One of the more popular kinds of federally insured loans is the FHA mortgage. These loans are backed by the Federal Housing Administration and may be easier to qualify for than a conventional loan.

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FHA loans are fairly common for South Dakota residents — nearly 20% of home mortgages originating in the state in 2015 (the latest data available) were FHA loans, totaling $400 million. In 2018, 0.21% of all FHA loans were made to South Dakotans.

FHA sets restrictions on the amount it will lend for an individual mortgage, and those limits change every year to keep up with housing prices. In 2019, the FHA loan limit for areas deemed to be “low-cost” is $314,827. Since virtually all counties in South Dakota are classified as low-cost areas, the FHA loan limit for single-family homes in South Dakota is $314,827 in all counties.

South Dakota FHA loan limits by county

County NameOne-FamilyTwo-FamilyThree-FamilyFour-FamilyMedian Sale Price
AURORA$314,827 $403,125 $487,250 $605,525 $77,000
BEADLE$314,827 $403,125 $487,250 $605,525 $119,000
BENNETT$314,827 $403,125 $487,250 $605,525 $68,000
BON HOMME$314,827 $403,125 $487,250 $605,525 $85,000
BROOKINGS$314,827 $403,125 $487,250 $605,525 $179,000
BROWN$314,827 $403,125 $487,250 $605,525 $166,000
BRULE$314,827 $403,125 $487,250 $605,525 $120,000
BUFFALO$314,827 $403,125 $487,250 $605,525 $77,000
BUTTE$314,827 $403,125 $487,250 $605,525 $133,000
CAMPBELL$314,827 $403,125 $487,250 $605,525 $72,000
CHARLES MIX$314,827 $403,125 $487,250 $605,525 $102,000
CLARK$314,827 $403,125 $487,250 $605,525 $86,000
CLAY$314,827 $403,125 $487,250 $605,525 $154,000
CODINGTON$314,827 $403,125 $487,250 $605,525 $178,000
CORSON$314,827 $403,125 $487,250 $605,525 $63,000
CUSTER$314,827 $403,125 $487,250 $605,525 $222,000
DAVISON$314,827 $403,125 $487,250 $605,525 $154,000
DAY$314,827 $403,125 $487,250 $605,525 $94,000
DEUEL$314,827 $403,125 $487,250 $605,525 $132,000
DEWEY$314,827 $403,125 $487,250 $605,525 $71,000
DOUGLAS$314,827 $403,125 $487,250 $605,525 $84,000
EDMUNDS$314,827 $403,125 $487,250 $605,525 $166,000
FALL RIVER$314,827 $403,125 $487,250 $605,525 $130,000
FAULK$314,827 $403,125 $487,250 $605,525 $94,000
GRANT$314,827 $403,125 $487,250 $605,525 $130,000
GREGORY$314,827 $403,125 $487,250 $605,525 $71,000
HAAKON$314,827 $403,125 $487,250 $605,525 $84,000
HAMLIN$314,827 $403,125 $487,250 $605,525 $128,000
HAND$314,827 $403,125 $487,250 $605,525 $107,000
HANSON$314,827 $403,125 $487,250 $605,525 $154,000
HARDING$314,827 $403,125 $487,250 $605,525 $99,000
HUGHES$314,827 $403,125 $487,250 $605,525 $191,000
HUTCHINSON$314,827 $403,125 $487,250 $605,525 $83,000
HYDE$314,827 $403,125 $487,250 $605,525 $90,000
JACKSON$314,827 $403,125 $487,250 $605,525 $61,000
JERAULD$314,827 $403,125 $487,250 $605,525 $90,000
JONES$314,827 $403,125 $487,250 $605,525 $65,000
KINGSBURY$314,827 $403,125 $487,250 $605,525 $105,000
LAKE$314,827 $403,125 $487,250 $605,525 $164,000
LAWRENCE$314,827 $403,125 $487,250 $605,525 $212,000
LINCOLN$314,827 $403,125 $487,250 $605,525 $244,000
LYMAN$314,827 $403,125 $487,250 $605,525 $82,000
MARSHALL$314,827 $403,125 $487,250 $605,525 $99,000
MCCOOK$314,827 $403,125 $487,250 $605,525 $244,000
MCPHERSON$314,827 $403,125 $487,250 $605,525 $62,000
MEADE$314,827 $403,125 $487,250 $605,525 $222,000
MELLETTE$314,827 $403,125 $487,250 $605,525 $50,000
MINER$314,827 $403,125 $487,250 $605,525 $95,000
MINNEHAHA$314,827 $403,125 $487,250 $605,525 $244,000
MOODY$314,827 $403,125 $487,250 $605,525 $136,000
OGLALA LAKOTA$314,827 $403,125 $487,250 $605,525 $26,000
PENNINGTON$314,827 $403,125 $487,250 $605,525 $222,000
PERKINS$314,827 $403,125 $487,250 $605,525 $77,000
POTTER$314,827 $403,125 $487,250 $605,525 $91,000
ROBERTS$314,827 $403,125 $487,250 $605,525 $104,000
SANBORN$314,827 $403,125 $487,250 $605,525 $85,000
SPINK$314,827 $403,125 $487,250 $605,525 $83,000
STANLEY$314,827 $403,125 $487,250 $605,525 $191,000
SULLY$314,827 $403,125 $487,250 $605,525 $191,000
TODD$314,827 $403,125 $487,250 $605,525 $53,000
TRIPP$314,827 $403,125 $487,250 $605,525 $88,000
TURNER$314,827 $403,125 $487,250 $605,525 $244,000
UNION$314,827 $403,125 $487,250 $605,525 $175,000
WALWORTH$314,827 $403,125 $487,250 $605,525 $90,000
YANKTON$314,827 $403,125 $487,250 $605,525 $158,000
ZIEBACH$314,827 $403,125 $487,250 $605,525 $65,000

How are FHA loan limits calculated?

The U.S. Department of Housing and Urban Development (HUD) sets FHA loan limits based on the conforming loan limit, which is the biggest loan that Fannie Mae and Freddie Mac will purchase. In 2019, the conforming loan limit is $484,350.

The largest mortgage the FHA will insure in most of the country, called the “floor,” is set at 65% of the conforming loan limit, which is $314,827 for 2019. The FHA ceiling applies to high-cost areas and is set at 150% of the conforming loan limit, or $726,525. Outside of a few exceptions, this is the highest mortgage the agency will insure for a single-family home. In other areas, loan limits fall somewhere between the FHA floor and ceiling.

Here are the 2019 standard FHA limits nationwide for all property types:

One-unit: $314,827
Two-unit: $403,125
Three-unit: $487,250
Four-unit: $605,525

Here are the 2019 standard FHA limits nationwide for high-cost areas:

One-unit: $726,525
Two-unit: $930,300
Three-unit: $1,124,475
Four-unit: $1,397,400

Are you eligible for an FHA loan in South Dakota?

If the mortgage you need meets the FHA loan limit requirements for your county in South Dakota, then an FHA loan might be right for you. You still need to qualify for the loan in other ways, including your credit score, your income and the amount of your down payment. Visit MagnifyMoney’s complete guide to FHA loans to learn more.