The First National Bank In Sioux Falls Mortgage Rates, Fees & Info
Sioux Falls, SDLEI: Q107R4XFOZ6F6K73C488
Tax ID: 46-0189380
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Mortgage Data
Review & Overview
The First National Bank In Sioux Falls is a smaller bank specializing in loans. The First National Bank In Sioux Falls has a high proportion of conventional loans. Their top markets by origination volume include: Sioux Falls, Spearfish, Mitchell, Spirit Lake, and Brookings among others. We have data for 13 markets. (Some data included below & more in-depth data is available with an active subscription.)The First National Bank In Sioux Falls 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. The First National Bank In Sioux Falls is typically an average 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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SimulatedRates™Mortgage Type |
Simulated Rate | Simulation Date |
|---|---|---|
| 30 Year Conventional Purchase | 6.24% | 3/28/23 |
| 30 Year Conventional Refi | 6.09% | 3/28/23 |
| 30 Year Cash-out Refi | 6.19% | 3/28/23 |
| 15 Year Conventional Purchase | 5.71% | 3/28/23 |
| 15 Year Conventional Refi | 5.54% | 3/28/23 |
| 15 Year Cash-out Refi | 5.54% | 3/28/23 |
| 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. | ||
Originations
311Origination Dollar Volume (All Markets)
$82,525,000Awards
The First National Bank in Sioux Falls - 2022
The First National Bank in Sioux Falls is a 2022 , due to their low .
For 2022, less than of lenders were eligible for this award.
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Relative Rate
The First National Bank In Sioux Falls's average 30 year fixed mortgage rate was
4.39%.
The 2022 average 30 year fixed rate mortgage across all markets and lenders was 4.76%.
This yields a difference of -0.37%.
Relative Fees (Closing Costs)
The First National Bank In Sioux Falls's average total fees/closing costs for a 30 year fixed rate
mortgage were $4,983.
The average total origination fees for 30 year fixed rate mortgages across all lenders (for all loan values, including
both points & up-front fees in addition to origination fees) were $4,750.
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) | 248 | $64,050,000 | $258,266 | $3,920 | 4.54% |
| Outside of Metro Areas | 34 | $8,650,000 | $254,412 | $4,791 | 4.65% |
| Spearfish, SD (FHA|USDA|VA) | 5 | $2,435,000 | $487,000 | $7,202 | 3.65% |
| Mitchell, SD (FHA|USDA|VA) | 8 | $1,340,000 | $167,500 | $3,543 | 4.51% |
| Spirit Lake, IA (FHA|USDA|VA) | 3 | $1,285,000 | $428,333 | $6,565 | 4.08% |
| Brookings, SD (FHA|USDA|VA) | 3 | $1,055,000 | $351,667 | $4,251 | 4.96% |
| RAPID CITY, SD (FHA|USDA|VA) | 3 | $905,000 | $301,667 | $5,945 | 3.75% |
| Brainerd, MN (FHA|USDA|VA) | 1 | $615,000 | $615,000 | $0 | 3.65% |
| Watertown, SD (FHA|USDA|VA) | 2 | $570,000 | $285,000 | $5,453 | 5.00% |
| Vermillion, SD (FHA|USDA|VA) | 1 | $485,000 | $485,000 | $2,274 | 2.63% |
| DUBUQUE, IA (FHA|USDA|VA) | 1 | $445,000 | $445,000 | $7,031 | 3.75% |
| MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI (FHA|USDA|VA) | 1 | $395,000 | $395,000 | $7,093 | 4.38% |
| Aberdeen, SD (FHA|USDA|VA) | 1 | $295,000 | $295,000 | $6,086 | 2.25% |
Similar Lenders
We use machine learning to identify the top lenders compared against The First National Bank in Sioux Falls based on their rates and fees, along with other useful metrics. A lower similarity rank signals a stronger match.
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Product Mix
| Loan Type | Originations | Total Value | Avg. Loan | Avg. Fees | Avg. Rate |
|---|---|---|---|---|---|
| Conventional | 311 | $82,525,000 | $265,354 | $4,173 | 4.52% |
For 2022, The First National Bank In Sioux Falls's most frequently originated type of loan was Conventional, with 311 originations.
Loan Reason
For 2022, The First National Bank In Sioux Falls's most frequently cited loan purpose was Home Purchase, with 179 originations. The 2nd most popular reason was Refi, with 40 originations.
Loan Duration/Length
For 2022, The First National Bank In Sioux Falls's most frequently cited loan duration was 30 Year, with 135 originations. The 2nd most popular length was 10 Year, with 61 originations.
Origination Fees/Closing Costs
The First National Bank In Sioux Falls's average total fees were $4,983, while their most frequently occuring range of origination fees (closing costs) were in the $<1k bucket, with 70 originations.
Interest Rates
During 2022, The First National Bank In Sioux Falls's average interest rate for loans was 4.39%, while their most frequently originated rate bucket for loans was 5-6%, with 96 originations.
Loan Sizing
2022 saw The First National Bank In Sioux Falls place emphasis on $200k-400k loans with 131 originations, totaling $37,485,000 in origination value.
Applicant Income
The First National Bank In Sioux Falls lent most frequently to those with incomes in the $100k-150k range, with 54 originations. The second most popular income band? $50k-75k, with 50 originations.
Applicant Debt to Income Ratio
The First National Bank In Sioux Falls lent most frequently to those with DTI ratios of 20-30%, with 75 originations. The next most common DTI ratio? 30-36%, with 45 originations.
Ethnicity Mix
Approval Rates
Total approvals of all applications98.32%
The First National Bank In Sioux Falls has an exceptionally high approval rate. They either target their audience very well or may have lax underwriting protocols.
Pick Rate
Approvals leading to origination87.78%
The First National Bank In Sioux Falls has an average pick rate.
Points and Fees
| Points | Originations | Total Value | Average Loan |
|---|---|---|---|
| NA | 311 | $82,525,000 | $265,354 |