The First National Bank In Sioux Falls Mortgage Rates, Fees & Info

Sioux Falls, SD

LEI: Q107R4XFOZ6F6K73C488

Tax ID: 46-0189380

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

Jump to:

  • SimulatedRates™
  • Mortgage Calculator

    • Mortgage Data

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

    The First National Bank In Sioux Falls is a smaller bank specializing in Home Purchase 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.

    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 6.24% 12/16/24
    30 Year Conventional Refi 6.09% 12/16/24
    30 Year Cash-out Refi 6.19% 12/16/24
    15 Year Conventional Purchase 5.71% 12/16/24
    15 Year Conventional Refi 5.54% 12/16/24
    15 Year Cash-out Refi 5.54% 12/16/24
    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.

    The First National Bank In Sioux Falls Mortgage Calculator






    Your Estimates

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

    This is not an official calculator from The First National Bank In Sioux Falls. 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

    311

    Origination Dollar Volume (All Markets)

    $82,525,000

    Awards

    The First National Bank in Sioux Falls 30 Year Conventional Loans bronze The First National Bank in Sioux Falls 30 Year Conventional Loans bronze
    Show all (2) 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) 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%
    The First National Bank In Sioux Falls's top markets include Sioux Falls, Spearfish, Mitchell, Spirit Lake, and Brookings among others.

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

    • 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.

    American State Bank
    Similarity Rank: 288
    The First National Bank in Sioux Falls
    Similarity Rank: 364
    SIOUX FALLS
    Similarity Rank: 378
    CU MORTGAGE DIRECT, LLC
    Similarity Rank: 741
    IOWA BANKERS MORTGAGE CORPORATION
    Similarity Rank: 806
    BLACK HILLS FEDERAL CREDIT UNION
    Similarity Rank: 810
    American Bank & Trust
    Similarity Rank: 810
    Reliabank Dakota
    Similarity Rank: 984
    Dacotah Bank
    Similarity Rank: 1258
    Central Bank
    Similarity Rank: 1300

    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

    Loan Reason Originations Total Value Avg. Loan Avg. Fees Avg. Rate
    Home Purchase 179 $56,475,000 $315,503 $4,961 4.61%
    Refi 40 $8,470,000 $211,750 $4,122 4.46%
    Cash Out Refi 39 $10,475,000 $268,590 $4,265 4.00%
    Home Improvement 31 $2,785,000 $89,839 $1,249 5.01%
    Other 22 $4,320,000 $196,364 $2,539 4.09%

    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

    Loan Length Originations Total Value Average Loan Average Fees Average Rate
    30 Year 135 $42,725,000 $316,481 $4,983 4.39%
    10 Year 61 $7,245,000 $118,770 $1,453 4.58%
    15 Year 37 $11,725,000 $316,892 $5,061 3.70%
    Other 26 $9,200,000 $353,846 $5,035 5.30%
    20 Year 25 $6,365,000 $254,600 $4,500 4.35%
    5 Year 23 $4,575,000 $198,913 $791 5.47%
    1 Year 4 $690,000 $172,500 $0 5.74%

    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

    Origination Fee/Closing Cost Originations Total Value Average Loan
    $<1k 70 $11,240,000 $160,571
    $2k-3k 60 $12,740,000 $212,333
    $3k-4k 58 $17,710,000 $305,345
    $5k+ 26 $17,200,000 $661,538
    $4k-5k 24 $9,600,000 $400,000
    $1k-2k 22 $2,720,000 $123,636

    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

    Loan Rate Originations Total Value Average Loan
    5-6% 96 $20,680,000 $215,417
    3-4% 65 $18,255,000 $280,846
    4-5% 63 $18,005,000 $285,794
    2.5-3% 42 $13,410,000 $319,286
    6-7% 26 $7,180,000 $276,154
    <2.5% 15 $4,385,000 $292,333
    7-8% 4 $610,000 $152,500

    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

    Loan Size Originations Total Value Average Loan Average Fees Average Rate
    $200k-400k 131 $37,485,000 $286,145 $4,548 4.32%
    $100k-200k 78 $11,750,000 $150,641 $2,866 4.74%
    $100,000 or less 50 $2,640,000 $52,800 $992 5.15%
    $400k-600k 36 $17,400,000 $483,333 $6,255 3.92%
    $600k-1MM 11 $7,625,000 $693,182 $9,484 4.06%
    $1MM+ 5 $5,625,000 $1,125,000 $12,708 5.19%

    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

    Applicant Income Originations Total Value Average Loan Average Fees Average Rate
    $100k-150k 54 $14,210,000 $263,148 $4,512 4.48%
    $50k-75k 50 $9,380,000 $187,600 $3,705 4.29%
    $150k-250k 46 $13,240,000 $287,826 $4,453 4.35%
    $250k+ 44 $18,530,000 $421,136 $5,827 4.34%
    $75k-100k 39 $9,305,000 $238,590 $4,065 4.39%
    $50k or less 19 $2,525,000 $132,895 $2,464 5.25%

    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

    DTI Ratio Originations Total Value Average Loan Average Fees Average Rate
    20-30% 75 $19,575,000 $261,000 $4,192 4.25%
    30-36% 45 $12,185,000 $270,778 $3,861 4.52%
    <20% 40 $10,170,000 $254,250 $4,003 4.06%
    39% 14 $4,090,000 $292,143 $4,937 4.37%
    38% 11 $1,915,000 $174,091 $2,852 4.96%
    41% 10 $2,630,000 $263,000 $4,207 4.50%
    44% 9 $3,305,000 $367,222 $5,566 4.49%
    42% 7 $1,405,000 $200,714 $2,728 4.01%
    36% 7 $2,315,000 $330,714 $5,304 4.80%
    37% 7 $2,075,000 $296,429 $4,172 3.69%
    40% 7 $1,205,000 $172,143 $2,639 5.07%
    50-60% 6 $1,120,000 $186,667 $2,884 4.83%
    >60% 5 $1,845,000 $369,000 $4,685 3.22%
    48% 5 $2,175,000 $435,000 $5,779 4.18%
    43% 5 $1,675,000 $335,000 $4,562 3.33%
    47% 4 $1,380,000 $345,000 $5,912 5.34%
    45% 3 $1,425,000 $475,000 $7,316 6.00%
    49% 3 $945,000 $315,000 $3,501 4.42%
    46% 1 $465,000 $465,000 $7,422 5.38%

    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

    Applicant Ethnicity Originations Total Value Average Loan Average Fees Average Rate
    White 249 $68,155,000 $273,715 $4,277 4.43%
    Not applicable 35 $8,955,000 $255,857 $0 5.29%
    Not provided 23 $4,845,000 $210,652 $3,206 4.27%
    Black 1 $215,000 $215,000 $3,982 2.88%
    American Indian 2 $190,000 $95,000 $2,052 4.60%
    Other Asian 1 $165,000 $165,000 $3,464 6.38%

    Approval Rates

    Total approvals of all applications
    98.32%

    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 origination
    87.78%

    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

    Occupancy Type Mix

    Dwelling Type Originations Total Value Average Loan
    311 $82,525,000 $265,354

    LTV Distribution

    Loan to Value Originations Total Value Average Loan Average Fees Average Rate
    20-40% 35 $5,535,000 $158,143 $2,435 4.09%
    40-60% 42 $10,060,000 $239,524 $3,961 4.11%
    60-80% 95 $28,855,000 $303,737 $5,250 4.49%
    80-100% 99 $34,495,000 $348,434 $5,237 4.54%
    Under 20% 40 $3,580,000 $89,500 $865 5.31%