South Dakota Mortgage Calculator (2026)
Calculate your monthly payment with South Dakota-specific property tax (1.31%) and average insurance ($2,050/yr).
Monthly payment
Payment breakdown
Loan summary
Amortization schedule (first 12 + every 12 months)
| Month | Principal | Interest | PMI/MIP | Balance |
|---|---|---|---|---|
| 1 | $240.50 | $1,711.50 | $122.25 | $293,160 |
| 2 | $241.90 | $1,710.10 | $122.25 | $292,918 |
| 3 | $243.31 | $1,708.69 | $122.25 | $292,674 |
| 4 | $244.73 | $1,707.27 | $122.25 | $292,430 |
| 5 | $246.16 | $1,705.84 | $122.25 | $292,183 |
| 6 | $247.59 | $1,704.40 | $122.25 | $291,936 |
| 7 | $249.04 | $1,702.96 | $122.25 | $291,687 |
| 8 | $250.49 | $1,701.51 | $122.25 | $291,436 |
| 9 | $251.95 | $1,700.04 | $122.25 | $291,184 |
| 10 | $253.42 | $1,698.58 | $122.25 | $290,931 |
| 11 | $254.90 | $1,697.10 | $122.25 | $290,676 |
| 12 | $256.39 | $1,695.61 | $122.25 | $290,420 |
| 24 | $274.92 | $1,677.08 | $122.25 | $287,224 |
| 36 | $294.80 | $1,657.20 | $122.25 | $283,797 |
| 48 | $316.11 | $1,635.89 | $122.25 | $280,122 |
| 60 | $338.96 | $1,613.04 | $122.25 | $276,182 |
| 72 | $363.46 | $1,588.54 | $122.25 | $271,957 |
| 84 | $389.74 | $1,562.26 | $122.25 | $267,427 |
| 96 | $417.91 | $1,534.09 | $122.25 | $262,569 |
| 108 | $448.12 | $1,503.88 | $122.25 | $257,359 |
| 120 | $480.52 | $1,471.48 | — | $251,774 |
| 132 | $515.25 | $1,436.75 | — | $245,784 |
| 144 | $552.50 | $1,399.50 | — | $239,361 |
| 156 | $592.44 | $1,359.56 | — | $232,475 |
| 168 | $635.27 | $1,316.73 | — | $225,090 |
| 180 | $681.19 | $1,270.81 | — | $217,171 |
| 192 | $730.43 | $1,221.56 | — | $208,680 |
| 204 | $783.24 | $1,168.76 | — | $199,576 |
| 216 | $839.86 | $1,112.14 | — | $189,813 |
| 228 | $900.57 | $1,051.43 | — | $179,344 |
| 240 | $965.67 | $986.32 | — | $168,118 |
| 252 | $1,035.48 | $916.52 | — | $156,081 |
| 264 | $1,110.34 | $841.66 | — | $143,174 |
| 276 | $1,190.60 | $761.39 | — | $129,334 |
| 288 | $1,276.67 | $675.33 | — | $114,493 |
| 300 | $1,368.96 | $583.03 | — | $98,580 |
| 312 | $1,467.93 | $484.07 | — | $81,516 |
| 324 | $1,574.04 | $377.96 | — | $63,218 |
| 336 | $1,687.83 | $264.17 | — | $43,598 |
| 348 | $1,809.84 | $142.15 | — | $22,559 |
| 360 | $1,940.68 | $11.32 | — | $0 |
What the payment actually costs
The carrying cost that lenders leave out of the headline number: at 1.31% effective, South Dakota sits 17th of 51 states and adds around $437 a month to a $400,000 home, or $5,240 a year.
Homeowners insurance runs about $2,050 a year in South Dakota, 7th of 51 states and above the $1,552 national average. Together, tax and insurance add roughly $608 a month to the payment before you have paid a dollar of principal.
How this fits the rest of your tax bill
South Dakota charges no income tax, and property tax is where that revenue is recovered. At 1.31% the rate ranks 17th of 51. For a renter the no-income-tax advantage is close to pure gain; for an owner of a $400,000 home it is offset by roughly $5,240 a year. Run both sides before assuming the state is cheap.
Housing costs compound with the rate. South Dakota runs about 9% below national-average costs, so the same 1.31% rate applies to a smaller assessed value than it would elsewhere. A percentage rate is only half the number that matters; the base it applies to is the other half.
Property tax rates are effective statewide averages; your county assessor sets the actual figure and it varies widely within a state. See our methodology.