First Dakota National Bank Mortgage Rates, Fees & Info

Yankton, SD

LEI: 549300T1ONVEMLQ4B629

Tax ID: 46-0208038

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

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  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

  • Originations
  • Top Markets
  • Product Mix
  • Loan Reason
  • Typical Rates
  • Loan Sizes
  • Dwelling Types
  • Complaints
  • Similar Lenders
  • 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

    First Dakota National Bank is a smaller bank specializing in Home Purchase loans. First Dakota National Bank has a high proportion of conventional loans. They have a a low proportion of FHA loans. (This may mean they shy away from first time homebuyers.) They have a low ratio of USDA loans. Their top markets by origination volume include: Sioux Falls, Yankton, Mitchell, Duluth, and Vermillion among others. We have data for 40 markets. (Some data included below & more in-depth data is available with an active subscription.)

    First Dakota National Bank 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. First Dakota National Bank 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.

    Mortgage seekers: Choose your metro area here to explore the lowest fee & rate lenders.

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    SimulatedRates™

    Mortgage Type     		Simulated Rate Simulation Date
    30 Year Conventional Purchase 6.60% 10/29/24
    30 Year Conventional Refi 6.76% 10/29/24
    30 Year Cash-out Refi 6.57% 10/29/24
    30 Year FHA Purchase 7.15% 10/29/24
    30 Year FHA Refi 6.75% 10/29/24
    30 Year VA Purchase 6.18% 10/29/24
    30 Year VA Refi 5.70% 10/29/24
    30 Year USDA Purchase 6.49% 10/29/24
    30 Year USDA Refi 6.27% 10/29/24
    15 Year Conventional Purchase 6.27% 10/29/24
    15 Year Conventional Refi 6.35% 10/29/24
    15 Year Cash-out Refi 6.35% 10/29/24
    These are simulated rates generated by our proprietary machine learning models. These are not guaranteed by the bank. They are our estimates based on a lender's past behaviors combined with current market conditions. Contact an individual lender for their actual rates. Our models use fixed rate terms for conforming loans, 700+ FICO, 10% down for FHA and 20% for conventional. These are based on consensus, historical data-- not advertised promotional rates.

    First Dakota National Bank Mortgage Calculator






    Your Estimates

    Estimated Loan Payment: Update the calculator values and click calculate payment!

    This is not an official calculator from First Dakota National Bank. It uses our SimulatedRate™ technology, basic math and reasonable assumptions to calculate mortgage payments derived from our simulations and your inputs.

    The default purchase price is the median sales price across the US for 2022Q4, per FRED.


    Originations

    822

    Origination Dollar Volume (All Markets)

    $291,500,000
    Show all (11) awards

    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) 357 $139,155,000 $389,790 $4,324 4.60%
    Yankton, SD (FHA|USDA|VA) 99 $25,625,000 $258,838 $3,387 4.97%
    Outside of Metro Areas 90 $17,730,000 $197,000 $3,587 5.18%
    Mitchell, SD (FHA|USDA|VA) 83 $16,565,000 $199,578 $3,019 5.02%
    DULUTH, MN-WI (FHA|USDA|VA) 3 $16,115,000 $5,371,667 $0 3.75%
    Vermillion, SD (FHA|USDA|VA) 50 $11,780,000 $235,600 $3,033 4.84%
    SIOUX CITY, IA-NE-SD (FHA|USDA|VA) 25 $9,125,000 $365,000 $2,708 5.00%
    Spirit Lake, IA (FHA|USDA|VA) 7 $8,415,000 $1,202,143 $12,294 4.19%
    Pierre, SD (FHA|USDA|VA) 28 $6,450,000 $230,357 $3,110 4.68%
    NASHVILLE-DAVIDSON-MURFREESBORO-FRANKLIN, TN (FHA|USDA|VA) 2 $4,000,000 $2,000,000 $3,835 4.43%
    Marshall, MN (FHA|USDA|VA) 6 $3,890,000 $648,333 $6,210 4.71%
    Spearfish, SD (FHA|USDA|VA) 5 $3,675,000 $735,000 $7,541 4.43%
    TAMPA-ST. PETERSBURG-CLEARWATER, FL (FHA|USDA|VA) 2 $3,390,000 $1,695,000 $6,999 3.88%
    RAPID CITY, SD (FHA|USDA|VA) 7 $2,675,000 $382,143 $3,708 4.59%
    PHOENIX-MESA-CHANDLER, AZ (FHA|USDA|VA) 5 $2,615,000 $523,000 $6,515 4.10%
    CAPE CORAL-FORT MYERS, FL (FHA|USDA|VA) 4 $2,320,000 $580,000 $7,440 4.69%
    MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) 4 $2,280,000 $570,000 $7,052 4.13%
    KAHULUI-WAILUKU-LAHAINA, HI (FHA|USDA|VA) 1 $2,255,000 $2,255,000 $15,554 4.73%
    Brookings, SD (FHA|USDA|VA) 6 $1,880,000 $313,333 $3,087 4.42%
    Watertown, SD (FHA|USDA|VA) 5 $1,785,000 $357,000 $4,590 4.79%
    HINESVILLE, GA (FHA|USDA|VA) 9 $1,635,000 $181,667 $0 4.36%
    AUSTIN-ROUND ROCK-GEORGETOWN, TX (FHA|USDA|VA) 1 $1,065,000 $1,065,000 $17,057 5.75%
    Fergus Falls, MN (FHA|USDA|VA) 3 $875,000 $291,667 $4,834 4.32%
    DURHAM-CHAPEL HILL, NC (FHA|USDA|VA) 1 $665,000 $665,000 $6,854 3.73%
    SAGINAW, MI (FHA|USDA|VA) 1 $665,000 $665,000 $6,366 5.98%
    DES MOINES-WEST DES MOINES, IA (FHA|USDA|VA) 1 $655,000 $655,000 $2,244 4.50%
    Kalispell, MT (FHA|USDA|VA) 1 $645,000 $645,000 $6,829 3.98%
    Huron, SD (FHA|USDA|VA) 4 $580,000 $145,000 $3,236 4.97%
    MEMPHIS, TN-MS-AR (FHA|USDA|VA) 1 $555,000 $555,000 $9,581 5.00%
    PALM BAY-MELBOURNE-TITUSVILLE, FL (FHA|USDA|VA) 1 $415,000 $415,000 $0 4.11%
    BISMARCK, ND (FHA|USDA|VA) 1 $375,000 $375,000 $4,845 3.00%
    Fairmont, MN (FHA|USDA|VA) 1 $295,000 $295,000 $0 3.88%
    MANKATO, MN (FHA|USDA|VA) 1 $285,000 $285,000 $5,589 5.88%
    Wahpeton, ND-MN (FHA|USDA|VA) 1 $185,000 $185,000 $2,831 3.25%
    Red Wing, MN (FHA|USDA|VA) 1 $185,000 $185,000 $3,140 4.23%
    Aberdeen, SD (FHA|USDA|VA) 1 $175,000 $175,000 $3,473 5.13%
    ST. LOUIS, MO-IL (FHA|USDA|VA) 1 $155,000 $155,000 $2,202 3.50%
    OMAHA-COUNCIL BLUFFS, NE-IA (FHA|USDA|VA) 1 $135,000 $135,000 $2,349 5.25%
    SHREVEPORT-BOSSIER CITY, LA (FHA|USDA|VA) 1 $125,000 $125,000 $2,988 4.49%
    Norfolk, NE (FHA|USDA|VA) 1 $105,000 $105,000 $2,354 5.13%
    First Dakota National Bank's top markets include Sioux Falls, Yankton, Mitchell, Duluth, and Vermillion among others.

    Their top states include:
  • South Dakota (FHA|USDA|VA)
  • Minnesota (FHA|USDA|VA)
  • Iowa (FHA|USDA|VA)
  • Florida (FHA|USDA|VA)
  • Tennessee (FHA|USDA|VA)

    • Similar Lenders

    We use machine learning to identify the top lenders compared against First Dakota National Bank based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.

    SIOUXLAND FEDERAL CREDIT UNION
    Similarity Rank: 40
    Primebank
    Similarity Rank: 140
    American State Bank
    Similarity Rank: 288
    MY Credit Union
    Similarity Rank: 304
    The First National Bank in Sioux Falls
    Similarity Rank: 364
    SIOUX FALLS
    Similarity Rank: 378
    South Metro Federal Credit Union
    Similarity Rank: 429
    Cornerstone State Bank
    Similarity Rank: 464
    WESTconsin Credit Union
    Similarity Rank: 684
    CU MORTGAGE DIRECT, LLC
    Similarity Rank: 741

    Product Mix

    Loan Type Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Conventional 729 $270,575,000 $371,159 $3,697 4.80%
    FHA 37 $7,395,000 $199,865 $5,957 4.48%
    USDA 33 $4,585,000 $138,939 $3,725 4.60%
    VA 23 $8,945,000 $388,913 $7,988 4.34%

    For 2022, First Dakota National Bank's most frequently originated type of loan was Conventional, with 729 originations. Their 2nd most popular type was FHA, with 37 originations.

    Loan Reason

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 602 $225,720,000 $374,950 $4,278 4.78%
    Refi 95 $34,945,000 $367,842 $4,071 4.63%
    Cash Out Refi 48 $14,630,000 $304,792 $3,040 3.86%
    Other 46 $12,830,000 $278,913 $3,045 5.06%
    Home Improvement 31 $3,375,000 $108,871 $650 5.73%

    For 2022, First Dakota National Bank's most frequently cited loan purpose was Home Purchase, with 602 originations. The 2nd most popular reason was Refi, with 95 originations.

    Loan Duration/Length

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 551 $179,075,000 $325,000 $4,351 4.68%
    15 Year 94 $22,240,000 $236,596 $3,056 4.29%
    Other 68 $31,200,000 $458,824 $735 5.67%
    10 Year 46 $34,760,000 $755,652 $865 5.20%
    5 Year 31 $15,925,000 $513,710 $0 5.02%
    20 Year 23 $5,735,000 $249,348 $3,250 4.32%
    1 Year 8 $2,310,000 $288,750 $0 5.35%
    3 Year 1 $255,000 $255,000 $0 6.70%

    For 2022, First Dakota National Bank's most frequently cited loan duration was 30 Year, with 551 originations. The 2nd most popular length was 15 Year, with 94 originations.

    Origination Fees/Closing Costs

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 339 $70,825,000 $208,923
    $1k-2k 124 $28,150,000 $227,016
    $2k-3k 96 $27,600,000 $287,500
    $3k-4k 60 $23,110,000 $385,167
    $5k+ 48 $41,130,000 $856,875
    $4k-5k 30 $16,540,000 $551,333

    First Dakota National Bank's average total fees were $4,351, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 339 originations.

    Interest Rates

    Loan Rate Originations Total Value Average Loan
    5-6% 251 $64,425,000 $256,673
    4-5% 241 $93,735,000 $388,942
    3-4% 181 $99,895,000 $551,906
    6-7% 77 $13,985,000 $181,623
    2.5-3% 51 $15,855,000 $310,882
    7-8% 11 $1,305,000 $118,636
    <2.5% 8 $2,160,000 $270,000
    Over 8% 2 $140,000 $70,000

    During 2022, First Dakota National Bank's average interest rate for loans was 4.68%, while their most frequently originated rate bucket for loans was 5-6%, with 251 originations.

    Loan Sizing

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 292 $82,430,000 $282,295 $4,020 4.69%
    $100k-200k 231 $35,275,000 $152,706 $3,000 4.87%
    $100,000 or less 125 $7,795,000 $62,360 $1,622 5.20%
    $400k-600k 82 $39,000,000 $475,610 $5,563 4.66%
    $600k-1MM 62 $43,320,000 $698,710 $6,483 4.18%
    $1MM+ 30 $83,680,000 $2,789,333 $12,836 4.21%

    2022 saw First Dakota National Bank place emphasis on $200k-400k loans with 292 originations, totaling $82,430,000 in origination value.

    Applicant Income

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 139 $39,705,000 $285,647 $3,908 4.89%
    $50k-75k 132 $24,580,000 $186,212 $3,372 4.76%
    $75k-100k 123 $26,245,000 $213,374 $3,108 4.81%
    $250k+ 108 $66,480,000 $615,556 $6,197 4.45%
    $150k-250k 99 $36,655,000 $370,253 $4,748 4.71%
    $50k or less 89 $11,175,000 $125,562 $2,916 4.59%

    First Dakota National Bank lent most frequently to those with incomes in the $100k-150k range, with 139 originations. The second most popular income band? $50k-75k, with 132 originations.

    Applicant Debt to Income Ratio

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    30-36% 158 $43,100,000 $272,785 $3,700 4.83%
    20-30% 157 $48,275,000 $307,484 $3,830 4.56%
    <20% 70 $30,340,000 $433,429 $4,564 4.25%
    42% 29 $7,765,000 $267,759 $4,212 4.86%
    43% 28 $9,490,000 $338,929 $4,581 4.63%
    44% 26 $5,890,000 $226,538 $3,251 4.77%
    39% 24 $6,200,000 $258,333 $3,538 5.00%
    40% 24 $5,210,000 $217,083 $3,176 4.78%
    38% 22 $5,460,000 $248,182 $3,475 4.92%
    49% 19 $4,825,000 $253,947 $3,863 4.88%
    36% 19 $3,685,000 $193,947 $3,163 4.78%
    50-60% 19 $6,305,000 $331,842 $5,553 5.14%
    46% 18 $4,940,000 $274,444 $3,342 4.66%
    47% 18 $5,350,000 $297,222 $4,921 4.58%
    41% 18 $4,090,000 $227,222 $2,998 4.87%
    48% 17 $4,135,000 $243,235 $4,976 4.89%
    45% 13 $3,315,000 $255,000 $4,776 4.71%
    37% 12 $4,950,000 $412,500 $5,500 4.39%
    >60% 7 $4,055,000 $579,286 $6,348 5.41%

    First Dakota National Bank lent most frequently to those with DTI ratios of 30-36%, with 158 originations. The next most common DTI ratio? 20-30%, with 157 originations.

    Ethnicity Mix

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 687 $199,085,000 $289,789 $3,912 4.75%
    Not applicable 96 $78,630,000 $819,063 $0 4.97%
    Not provided 15 $6,945,000 $463,000 $4,969 4.77%
    Asian 14 $3,910,000 $279,286 $4,531 4.38%
    Black 6 $1,720,000 $286,667 $4,606 4.02%
    American Indian 4 $1,210,000 $302,500 $6,312 4.63%

    Approval Rates

    Total approvals of all applications
    95.48%

    First Dakota National Bank has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.

    Pick Rate

    Approvals leading to origination
    84.43%

    First Dakota National Bank has a below average pick rate.

    Points and Fees

    Points Originations Total Value Average Loan
    NA 822 $291,500,000 $354,623

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    822 $291,500,000 $354,623

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 71 $22,795,000 $321,056 $2,483 4.86%
    40-60% 100 $28,350,000 $283,500 $3,801 4.51%
    60-80% 260 $120,260,000 $462,538 $4,211 4.76%
    80-100% 334 $113,300,000 $339,222 $4,305 4.71%
    Over 100% 6 $1,950,000 $325,000 $13,111 4.96%
    Under 20% 50 $4,540,000 $90,800 $1,358 5.49%

    Complaints

    Bank Name Product Issue 2022 CPFB Complaints % of Total Issues
    FIRST CITIZENS BANCSHARES, INC. Home equity loan or line of credit (HELOC) Applying for a mortgage or refinancing an existing mortgage 1 100.0%