South Dakota Home Equity & HELOC Calculator
Calculate home equity and HELOC payments in South Dakota. Median home value $270,000, property tax 1.31%. See available equity and monthly payments.
How This Calculator Works
Calculation methodology and assumptions
Home equity calculation for South Dakota. Equity = home value − mortgage balance. Maximum borrowable = (home value × max LTV%) − mortgage balance. HELOC payment uses standard amortization. Property tax of 1.31% and home insurance of $2,800/yr are ongoing costs to consider. Most lenders require combined LTV ≤ 80-85%.
Key State Information
South Dakota home equity facts: Median home value $270,000 | Property tax 1.31% | Home insurance $2,800/yr | Closing costs ~2.6%. No state income tax — HELOC interest deduction is federal only.
Frequently Asked Questions
How much home equity can I borrow in South Dakota?
Most lenders allow up to 80-85% combined loan-to-value (CLTV). With South Dakota's median home value of $270,000, a homeowner with 40% equity could borrow up to $54,000-$67,500 via a HELOC.
Is HELOC interest tax deductible in South Dakota?
HELOC interest is deductible on federal taxes if the funds are used for home improvements (up to $750,000 of acquisition debt). South Dakota has no state income tax, so the deduction only applies federally.
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