Select your Scenario
Dodge monthly mortgage insurance premiums (PMI) completely and secure the standard conventional baseline.
Explore programs requiring as little as 3% down conventional or 3.5% FHA, helping you buy sooner.
Optimize your existing debt service, lower your interest rate, or secure cash-out equity restructure.
Department of Veterans Affairs purchase loans offering 0% down payment and no monthly PMI for military.
Lock in lower interest rates with a 15-year fixed loan term to build massive equity quickly.
Finance non-owner occupied rental acquisitions or multi-unit house hacking with competitive investor pricing.
See Safe Rate's top scoring lenders for Clark School District 12-2
We rank active Clark School District 12-2 lenders across our 5 P's of mortgage shopping. No pay to play, independent rankings.
Current Local Mortgage Rates
Sorted by lowest conforming purchase rate
Requires veteran or military eligibility
Loan amount is under conforming limits
| Loan Program | Today's Rate / APR | Points | Est. Payment | Action |
|---|---|---|---|---|
| Conventional 30-Yr FixedConforming | 7.005%APR 7.045% | 0 pts$0 | $843/moP&I $843 · MI $0 | See details |
| FHA 30-Yr FixedConforming | 6.075%APR 6.849% | 0 pts$0 | $838/moP&I $779 · MI $59 | See details |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| 15-Year Conforming FixedConforming | 6.267%APR 6.325% | 0 pts$0 | $782/moP&I $782 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 6.965%APR 7.006% | 0 pts$0 | $840/moP&I $840 · MI $0 | See details |
| Investment Property FixedConforming | 7.625%APR 7.727% | 0 pts$0 | $897/moP&I $897 · MI $0 | See details |
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Compare all 26 pre-computed scenario benchmarks
Scenario Program | Down Pct | Credit score | Today's Rate | APR | Points | P&I Payment | 3-Yr Metric Cost |
|---|---|---|---|---|---|---|---|
15-Year Conforming Purchase | 20% | 740 credit score | 6.267% | 6.325% | 0 pts ($0) | $1,088/mo | $22,337 |
15-Year Rate/Term Refi | 0% | 740 credit score | 6.250% | 6.310% | 0 pts ($0) | $1,358/mo | $30,932 |
Condo 10% Down | 10% | 720 credit score | 7.339% | 7.516% | 0 pts ($0) | $981/mo | $34,571 |
Conventional 10% Down | 10% | 720 credit score | 6.823% | 6.987% | 0 pts ($0) | $932/mo | $32,353 |
Conventional 20% Down | 20% | 740 credit score | 7.005% | 7.045% | 0 pts ($0) | $843/mo | $26,222 |
Conventional 5% Down | 5% | 700 credit score | 7.181% | 7.669% | 0 pts ($0) | $1,020/mo | $35,774 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.458% | 7.501% | 0 pts ($0) | $1,103/mo | $38,031 |
Conventional High Balance | 10% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $937/mo | $31,760 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.847% | 7.227% | 0 pts ($0) | $1,006/mo | $36,363 |
Conventional Rate/Term Refi | 0% | 740 credit score | 6.965% | 7.006% | 0 pts ($0) | $1,050/mo | $35,675 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $1,307/mo | $31,165 |
FHA 3.5% Down | 3.5% | 680 credit score | 6.075% | 6.849% | 0 pts ($0) | $940/mo | $33,071 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $960/mo | $33,597 |
FHA Streamline Refi | 0% | 640 credit score | 6.270% | 7.047% | 0 pts ($0) | $994/mo | $35,215 |
House Hacking Conforming 5% | 5% | 680 credit score | 7.117% | 7.367% | 0 pts ($0) | $1,013/mo | $36,838 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $991/mo | $19,402 |
Investment Property 25% Down | 25% | 740 credit score | 7.625% | 7.727% | 0 pts ($0) | $841/mo | $26,805 |
Jumbo Conforming | 20% | 760 credit score | 7.125% | 7.159% | 0 pts ($0) | $854/mo | $26,681 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $921/mo | $28,241 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 6.439% | 7.219% | 0 pts ($0) | $977/mo | $34,774 |
Second Home 10% Down | 10% | 720 credit score | 6.084% | 6.663% | 0 pts ($0) | $862/mo | $29,183 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $833/mo | $25,760 |
VA 0% Down | 0% | 700 credit score | 6.082% | 6.330% | 0 pts ($0) | $979/mo | $32,392 |
VA Cash-Out Refi | 0% | 640 credit score | 6.083% | 6.455% | 0 pts ($0) | $979/mo | $32,397 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 6.092% | 6.248% | 0 pts ($0) | $980/mo | $32,441 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $872/mo | $27,575 |
Frequently Asked Questions
What are today's mortgage rates in Clark School District 12-2, SD across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in Clark School District 12-2, SD is 7.005% (with an estimated monthly payment of $1,508). Active program rates also include FHA 30-year fixed loans at 6.075% and VA 0%-down fixed loans at 6.082%. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.
What is the recent mortgage rate trend in Clark School District 12-2, SD?
Mortgage rates have shown typical daily fluctuations driven by inflation data and bond yields. Over the past 90 days, conventional 30-year fixed rates in Clark School District 12-2, SD have fluctuated between a low of 6.902% and a high of 7.156%. You can track these daily movements by using the 90-day rate history and trajectory chart featured on this page.
Is an FHA or Conventional loan more cost-effective in Clark School District 12-2, SD?
Choosing between FHA and Conventional depends on your down payment budget and credit score. For a typical home priced at $158,400 in Clark School District 12-2, SD, a standard 20%-down Conventional loan requires an upfront cash down payment of $31,680 but keeps your monthly payment lower at $1,508/mo (at 7.005% interest) with no monthly PMI. In comparison, an FHA loan requires only $5,544 (3.5% down) but has an estimated payment of $1,681/mo (at 6.075% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $152,856 falls comfortably within the local HUD FHA loan limit of $524,225 (1-unit), making FHA financing an exceptionally accessible, high-leverage entry point into the market.
What is the maximum conforming loan limit in Clark School District 12-2 before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in Clark School District 12-2 is $806,501. With a typical local home value of $158,400 in , a standard 20%-down mortgage requires a loan size of $126,720. Because this is within the $806,501 conforming threshold, buyers can easily qualify for standard conforming conventional financing with competitive rates.
How does the median home value in Clark School District 12-2, SD impact estimated mortgage payments?
The median home value in Clark School District 12-2, SD is estimated at $158,400. Buying a typical home here with a standard 20% down payment ($31,680) translates to an estimated starting monthly mortgage payment of $1,508 (principal and interest). Compared to the local area median household income of $70,726 ($5,894/mo), this basic housing payment represents approximately 25.6% of gross monthly household income. This housing cost is well within standard lender affordability guidelines (under the 36% DTI benchmark), demonstrating healthy local purchasing power.