Security National Bank Of South Dakota Mortgage Rates, Fees & Info

Dakota Dunes, SD

LEI: 549300RK7Q0WLYYRNC19

Tax ID: 97-1758031

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Mortgage Data

Review & Overview

Security National Bank Of South Dakota is a smaller bank specializing in Home Purchase loans. Security National Bank Of South Dakota has a high proportion of conventional loans. Their top markets by origination volume include: Sioux Falls, Sioux City, Spearfish, Phoenix, and Norfolk among others. We have data for 8 markets. (Some data included below & more in-depth data is available with an active subscription.)

Security National Bank Of South Dakota has an above average approval rate when compared to the average across all lenders. They have a below average pick rate when compared to similar lenders.

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Originations

58

Origination Dollar Volume (All Markets)

$19,390,000

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) 23 $11,655,000 $506,739 $0 0.00%
Outside of Metro Areas 3 $4,185,000 $1,395,000 $0 0.00%
SIOUX CITY, IA-NE-SD (FHA|USDA|VA) 27 $2,055,000 $76,111 $0 0.00%
Spearfish, SD (FHA|USDA|VA) 1 $565,000 $565,000 $0 0.00%
PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 1 $505,000 $505,000 $0 0.00%
Norfolk, NE (FHA|USDA|VA) 1 $205,000 $205,000 $0 0.00%
Aberdeen, SD (FHA|USDA|VA) 1 $175,000 $175,000 $0 0.00%
Vermillion, SD (FHA|USDA|VA) 1 $45,000 $45,000 $0 0.00%
Security National Bank Of South Dakota's top markets include Sioux Falls, Sioux City, Spearfish, Phoenix, and Norfolk among others.

Their top states include:
  • South Dakota (FHA|USDA|VA)
  • Iowa (FHA|USDA|VA)
  • Arizona (FHA|USDA|VA)
  • Nebraska (FHA|USDA|VA)
  • (FHA|USDA|VA)
  • Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 58 $19,390,000 $334,310 $0 0.00%

    For 2019, Security National Bank Of South Dakota'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 Purchase 25 $17,305,000 $692,200 $0 0.00%
    Other 12 $670,000 $55,833 $0 0.00%
    Refi 12 $1,100,000 $91,667 $0 0.00%
    Home Improvement 9 $315,000 $35,000 $0 0.00%

    For 2019, Security National Bank Of South Dakota's most frequently cited loan purpose was Home Purchase, with 25 originations. The 2nd most popular reason was Other, with 12 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    Other 58 $19,390,000 $334,310 $0 0.00%

    For 2019, Security National Bank Of South Dakota's most frequently cited loan duration was Other, with 58 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $100,000 or less 30 $1,210,000 $40,333 $0 0.00%
    $200k-400k 11 $3,465,000 $315,000 $0 0.00%
    $100k-200k 10 $1,410,000 $141,000 $0 0.00%
    $400k-600k 4 $1,900,000 $475,000 $0 0.00%
    $1MM+ 2 $10,750,000 $5,375,000 $0 0.00%
    $600k-1MM 1 $655,000 $655,000 $0 0.00%

    2019 saw Security National Bank Of South Dakota place emphasis on $100,000 or less loans with 30 originations, totaling $1,210,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 15 $1,695,000 $113,000 $0 0.00%
    $75k-100k 9 $775,000 $86,111 $0 0.00%
    $150k-250k 8 $1,550,000 $193,750 $0 0.00%
    $250k+ 8 $2,530,000 $316,250 $0 0.00%
    $50k-75k 8 $590,000 $73,750 $0 0.00%
    $50k or less 6 $690,000 $115,000 $0 0.00%

    Security National Bank Of South Dakota lent most frequently to those with incomes in the $100k-150k range, with 15 originations. The second most popular income band? $75k-100k, with 9 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    Exempt% 58 $19,390,000 $334,310 $0 0.00%

    Security National Bank Of South Dakota lent most frequently to those with DTI ratios of Exempt%, with 58 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    Not applicable 3 $11,255,000 $3,751,667 $0 0.00%
    White 51 $7,195,000 $141,078 $0 0.00%
    Asian 4 $940,000 $235,000 $0 0.00%

    Approval Rates

    Total approvals of all applications
    92.41%

    Security National Bank Of South Dakota has an average approval rate.

    Pick Rate

    Approvals leading to origination
    79.31%

    Security National Bank Of South Dakota has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    Exempt 58 $19,390,000 $334,310

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    Multifamily:Site-Built 2 $10,750,000 $5,375,000
    Single Family (1-4 Units):Site-Built 56 $8,640,000 $154,286

    Complaints

    Bank Name Product Issue 2019 CPFB Complaints % of Total Issues
    Security National Financial Corp FHA mortgage Applying for a mortgage or refinancing an existing mortgage 1 33.3%
    Security National Financial Corp Other type of mortgage Trouble during payment process 1 33.3%
    Security National Financial Corp VA mortgage Closing on a mortgage 1 33.3%