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 Scotland School District 04-3
We rank active Scotland School District 04-3 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 | 6.998%APR 7.038% | 0 pts$0 | $1,013/moP&I $1,013 · MI $0 | See details |
| FHA 30-Yr FixedConforming | 6.076%APR 6.850% | 0 pts$0 | $1,008/moP&I $937 · MI $71 | See details |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| 15-Year Conforming FixedConforming | 6.261%APR 6.319% | 0 pts$0 | $939/moP&I $939 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 7.009%APR 7.049% | 0 pts$0 | $1,014/moP&I $1,014 · MI $0 | See details |
| Investment Property FixedConforming | 7.625%APR 7.724% | 0 pts$0 | $1,078/moP&I $1,078 · 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 | 6.261% | 6.319% | 0 pts ($0) | $1,307/mo | $26,815 |
15-Year Rate/Term Refi | 0% | 740 credit score | 6.107% | 6.164% | 0 pts ($0) | $1,617/mo | $36,381 |
Condo 10% Down | 10% | 720 credit score | 7.334% | 7.510% | 0 pts ($0) | $1,178/mo | $41,518 |
Conventional 10% Down | 10% | 720 credit score | 6.819% | 6.982% | 0 pts ($0) | $1,119/mo | $38,858 |
Conventional 20% Down | 20% | 740 credit score | 6.998% | 7.038% | 0 pts ($0) | $1,013/mo | $31,479 |
Conventional 5% Down | 5% | 700 credit score | 7.169% | 7.657% | 0 pts ($0) | $1,224/mo | $42,924 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.453% | 7.496% | 0 pts ($0) | $1,325/mo | $45,672 |
Conventional High Balance | 10% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $1,126/mo | $38,166 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.846% | 7.226% | 0 pts ($0) | $1,209/mo | $43,692 |
Conventional Rate/Term Refi | 0% | 740 credit score | 7.009% | 7.049% | 0 pts ($0) | $1,268/mo | $43,123 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $1,571/mo | $37,450 |
FHA 3.5% Down | 3.5% | 680 credit score | 6.076% | 6.850% | 0 pts ($0) | $1,130/mo | $39,747 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $1,153/mo | $40,373 |
FHA Streamline Refi | 0% | 640 credit score | 6.271% | 7.048% | 0 pts ($0) | $1,195/mo | $42,324 |
House Hacking Conforming 5% | 5% | 680 credit score | 7.111% | 7.360% | 0 pts ($0) | $1,217/mo | $44,236 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $1,191/mo | $23,316 |
Investment Property 25% Down | 25% | 740 credit score | 7.625% | 7.724% | 0 pts ($0) | $1,010/mo | $32,212 |
Jumbo Conforming | 20% | 760 credit score | 7.125% | 7.159% | 0 pts ($0) | $1,026/mo | $32,062 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $1,107/mo | $33,937 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 6.440% | 7.220% | 0 pts ($0) | $1,174/mo | $41,793 |
Second Home 10% Down | 10% | 720 credit score | 6.082% | 6.661% | 0 pts ($0) | $1,036/mo | $35,058 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $1,001/mo | $30,956 |
VA 0% Down | 0% | 700 credit score | 6.080% | 6.327% | 0 pts ($0) | $1,176/mo | $38,914 |
VA Cash-Out Refi | 0% | 640 credit score | 6.085% | 6.457% | 0 pts ($0) | $1,176/mo | $38,943 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 6.090% | 6.245% | 0 pts ($0) | $1,177/mo | $38,972 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $1,047/mo | $33,136 |
Frequently Asked Questions
What are today's mortgage rates in Scotland School District 04-3, SD across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in Scotland School District 04-3, SD is 6.998% (with an estimated monthly payment of $1,530). Active program rates also include FHA 30-year fixed loans at 6.076% and VA 0%-down fixed loans at 6.080%. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.
What is the recent mortgage rate trend in Scotland School District 04-3, 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 Scotland School District 04-3, SD have fluctuated between a low of 6.897% and a high of 7.150%. 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 Scotland School District 04-3, SD?
Choosing between FHA and Conventional depends on your down payment budget and credit score. For a typical home priced at $190,348 in Scotland School District 04-3, SD, a standard 20%-down Conventional loan requires an upfront cash down payment of $38,070 but keeps your monthly payment lower at $1,530/mo (at 6.998% interest) with no monthly PMI. In comparison, an FHA loan requires only $6,662 (3.5% down) but has an estimated payment of $1,706/mo (at 6.076% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $183,686 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 Scotland School District 04-3 before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in Scotland School District 04-3 is $806,501. With a typical local home value of $190,348 in , a standard 20%-down mortgage requires a loan size of $152,278. 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 Scotland School District 04-3, SD impact estimated mortgage payments?
The median home value in Scotland School District 04-3, SD is estimated at $190,348. Buying a typical home here with a standard 20% down payment ($38,070) translates to an estimated starting monthly mortgage payment of $1,530 (principal and interest). Compared to the local area median household income of $68,880 ($5,740/mo), this basic housing payment represents approximately 26.7% 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.