Security National Bank Of South Dakota Mortgage Rates, Fees & Info
Dakota Dunes, SDLEI: 549300RK7Q0WLYYRNC19
Tax ID: 97-1758031
Latest/2023 | 2022 Data | 2021 Data | 2020 Data | 2019 Data | 2018 Data
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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, Okeechobee, Phoenix, and Spearfish among others. We have data for 6 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
51Origination Dollar Volume (All Markets)
$34,255,000Top 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) | 36 | $31,370,000 | $871,389 | $0 | 0.00% |
| SIOUX CITY, IA-NE-SD (FHA|USDA|VA) | 10 | $1,250,000 | $125,000 | $0 | 0.00% |
| Okeechobee, FL (FHA|USDA|VA) | 1 | $705,000 | $705,000 | $0 | 0.00% |
| PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) | 2 | $580,000 | $290,000 | $0 | 0.00% |
| Spearfish, SD (FHA|USDA|VA) | 1 | $305,000 | $305,000 | $0 | 0.00% |
| Outside of Metro Areas | 1 | $45,000 | $45,000 | $0 | 0.00% |
Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 51 | $34,255,000 | $671,667 | $0 | 0.00% |
For 2021, Security National Bank Of South Dakota's most frequently originated type of loan was Conventional, with 51 originations.
Loan Reason
For 2021, Security National Bank Of South Dakota's most frequently cited loan purpose was Home Purchase, with 19 originations. The 2nd most popular reason was Refi, with 18 originations.
Loan Duration/Length
| Loan Length | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Other | 51 | $34,255,000 | $671,667 | $0 | 0.00% |
For 2021, Security National Bank Of South Dakota's most frequently cited loan duration was Other, with 51 originations.
Loan Sizing
2021 saw Security National Bank Of South Dakota place emphasis on $100,000 or less loans with 13 originations, totaling $715,000 in origination value.
Applicant Income
Security National Bank Of South Dakota lent most frequently to those with incomes in the $100k-150k range, with 9 originations. The second most popular income band? $150k-250k, with 9 originations.
Applicant Debt to Income Ratio
| DTI Ratio | Originations | Total Value | Average Loan | Average Fees | Average Rate |
|---|---|---|---|---|---|
| Exempt% | 51 | $34,255,000 | $671,667 | $0 | 0.00% |
Security National Bank Of South Dakota lent most frequently to those with DTI ratios of Exempt%, with 51 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications95.89%
Security National Bank Of South Dakota has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination62.75%
Security National Bank Of South Dakota has a low pick rate. They may have issues with closing loans or may approve everyone, but with onerous loan terms.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| Exempt | 51 | $34,255,000 | $671,667 |
Complaints
| Bank Name | Product | Issue | 2021 CPFB Complaints | % of Total Issues |
|---|---|---|---|---|
| Security National Financial Corp | Conventional home mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 7.1% |
| Security National Financial Corp | Conventional home mortgage | Closing on a mortgage | 1 | 7.1% |
| Security National Financial Corp | Conventional home mortgage | Incorrect information on your report | 1 | 7.1% |
| Security National Financial Corp | Conventional home mortgage | Trouble during payment process | 5 | 35.7% |
| Security National Financial Corp | FHA mortgage | Applying for a mortgage or refinancing an existing mortgage | 1 | 7.1% |
| Security National Financial Corp | FHA mortgage | Trouble during payment process | 2 | 14.3% |
| Security National Financial Corp | Other type of mortgage | Applying for a mortgage or refinancing an existing mortgage | 2 | 14.3% |
| Security National Financial Corp | VA mortgage | Closing on a mortgage | 1 | 7.1% |