Sioux Empire Mortgage Rates, Fees & Info

Sioux Falls, SD

LEI: 549300MM52W3C4U18L74

Tax ID: 46-0226737

Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data

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Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Loan Length
  • Loan to Value Info
  • Debt-to-Income
  • Applicant Income
  • Ethnicity Info
  • Approval & Pick Rates
  • Points and Fees
  • Origination Fees (Closing Costs)

    • Review & Overview

    Sioux Empire is a smaller mortgage company specializing in Home Improvement, Other, and Refi loans. Sioux Empire has a high proportion of conventional loans. Their top two markets are Sioux Falls and Sioux City .

    Sioux Empire has an average approval rate when compared to the average across all lenders. They have an average pick rate when compared to similar lenders. Sioux Empire is typically a low fee lender. (We use the term "fees" to include things like closing costs and other costs incurred by borrowers-- whether they are paid out of pocket or rolled into the loan.) They typically have about average rates.

    We show data for every lender and do not change our ratings-- even if an organization is a paid advertiser. Our consensus data does have lag, but it is highly correlated to a lender's rates & fees relative to their markets. This means that if a bank is a low fee/rate lender the past-- chances are they are still one today. Our SimulatedRates™ use advanced statistical techniques to forecast different rates based on a lender's historical data.

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    Originations

    58

    Origination Dollar Volume (All Markets)

    $4,160,000

    Top Markets

    Zoom/scroll map to see bank's per metro statistics. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results. This map shows top 10 markets in the map viewport, as defined by descending origination volume.

    Market Originations Total Value Average Loan Average Fees Average Rate
    SIOUX FALLS, SD (FHA|USDA|VA) 55 $3,845,000 $69,909 $848 3.84%
    SIOUX CITY, IA-NE-SD (FHA|USDA|VA) 3 $315,000 $105,000 $918 3.83%
    Sioux Empire's top markets include Sioux Falls and Sioux City among others.

    Their top states include:
  • South Dakota (FHA|USDA|VA)

    • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 58 $4,160,000 $71,724 $852 3.84%

    For 2018, Sioux Empire's most frequently originated type of loan was Conventional, with 58 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Improvement 24 $1,680,000 $70,000 $838 3.76%
    Other 16 $970,000 $60,625 $815 3.59%
    Refi 15 $1,185,000 $79,000 $711 4.27%
    Home Purchase 3 $325,000 $108,333 $1,860 3.62%

    For 2018, Sioux Empire's most frequently cited loan purpose was Home Improvement, with 24 originations. The 2nd most popular reason was Other, with 16 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    10 Year 38 $2,150,000 $56,579 $821 3.39%
    15 Year 16 $1,560,000 $97,500 $855 4.53%
    30 Year 2 $380,000 $190,000 $1,724 4.44%
    20 Year 1 $55,000 $55,000 $986 4.25%
    5 Year 1 $15,000 $15,000 $79 8.25%

    For 2018, Sioux Empire's most frequently cited loan duration was 10 Year, with 38 originations. The 2nd most popular length was 15 Year, with 16 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 56 $3,880,000 $69,286
    $1k-2k 2 $280,000 $140,000

    Sioux Empire's average total fees were $1,724, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 56 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    3-4% 27 $1,605,000 $59,444
    2.5-3% 17 $1,085,000 $63,824
    4-5% 11 $1,305,000 $118,636
    5-6% 1 $55,000 $55,000
    6-7% 1 $95,000 $95,000
    Over 8% 1 $15,000 $15,000

    During 2018, Sioux Empire's average interest rate for loans was 4.44%, while their most frequently originated rate bucket for loans was 3-4%, with 27 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 46 $2,140,000 $46,522 $748 3.85%
    $100k-200k 10 $1,260,000 $126,000 $1,192 3.59%
    $200k-400k 1 $235,000 $235,000 $1,217 5.00%
    $400k-600k 1 $525,000 $525,000 $1,859 4.50%

    2018 saw Sioux Empire place emphasis on $100,000 or less loans with 46 originations, totaling $2,140,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 25 $1,605,000 $64,200 $768 3.90%
    $75k-100k 13 $845,000 $65,000 $869 3.69%
    $50k-75k 11 $635,000 $57,727 $867 4.03%
    $150k-250k 4 $250,000 $62,500 $870 3.63%
    $50k or less 4 $300,000 $75,000 $1,011 3.44%
    $250k+ 1 $525,000 $525,000 $1,859 4.50%

    Sioux Empire lent most frequently to those with incomes in the $100k-150k range, with 25 originations. The second most popular income band? $75k-100k, with 13 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 18 $1,680,000 $93,333 $947 4.16%
    20-30% 18 $990,000 $55,000 $824 3.56%
    <20% 8 $570,000 $71,250 $815 3.31%
    38% 3 $195,000 $65,000 $1,096 3.33%
    37% 2 $150,000 $75,000 $624 5.25%
    44% 1 $35,000 $35,000 $67 3.25%
    45% 1 $135,000 $135,000 $927 3.00%
    46% 1 $105,000 $105,000 $1,081 5.00%
    48% 1 $15,000 $15,000 $803 3.50%
    50-60% 1 $45,000 $45,000 $886 4.50%
    36% 1 $55,000 $55,000 $780 4.00%
    41% 1 $45,000 $45,000 $749 4.50%
    42% 1 $15,000 $15,000 $278 5.00%
    43% 1 $125,000 $125,000 $904 4.00%

    Sioux Empire lent most frequently to those with DTI ratios of 30-36%, with 18 originations. The next most common DTI ratio? 20-30%, with 18 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 56 $4,060,000 $72,500 $853 3.83%
    Not provided 2 $100,000 $50,000 $810 4.00%

    Approval Rates

    Total approvals of all applications
    89.71%

    Sioux Empire has an average approval rate.

    Pick Rate

    Approvals leading to origination
    94.83%

    Sioux Empire has an average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 58 $4,160,000 $71,724

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Single Family (1-4 Units):Site-Built 58 $4,160,000 $71,724

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 20 $1,290,000 $64,500 $806 3.54%
    40-60% 4 $930,000 $232,500 $1,237 3.88%
    60-80% 3 $425,000 $141,667 $1,067 4.17%
    80-100% 4 $470,000 $117,500 $1,410 4.47%
    Under 20% 27 $1,045,000 $38,704 $722 3.93%