Aberdeen Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Aberdeen averaged
6.54%
for the week of 2025-06-18, compared to the national average of
6.81% for the same period.
The average rate for the prior week (2025-06-12) was
6.87% and
one month ago for the week of 2025-05-15, the
average rate was 6.54%.
Aberdeen's average rate one year ago was 6.58%.
For refis of the same type during the week of 2025-06-18, the average rate
was 7.01%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2025-06-18 | 6.81% |
| Aberdeen 30 Year Fixed Rate | 2025-06-18 | 6.54% |
| Aberdeen 30 Year Fixed Rate Refi | 2025-06-18 | 7.01% |
| Aberdeen 15 Year Fixed Rate | 2025-06-18 | 5.86% |
| Aberdeen 15 Year Fixed Rate Refi | 2025-06-18 | 5.86% |
| Aberdeen 30 Year FHA | 2025-06-18 | -0.34% |
| Aberdeen 30 Year FHA Refi | 2025-06-18 | -0.2% |
| Aberdeen 30 Year USDA | 2025-06-18 | -0.2% |
| Aberdeen 30 Year USDA Refi | 2025-06-18 | -0.2% |
| Aberdeen 30 Year VA | 2025-06-18 | 0.1% |
| Aberdeen 30 Year VA Refi | 2025-06-18 | 0.1% |
Aberdeen Top Lenders by Rates & Fees
The below table looks at the consensus average rates and fees provided by each lender, for only loans originated in the Aberdeen, SD market. This includes FHA, Conventional, USDA and VA loans, as well as refis. All terms in the below chart are 30 year fixed rate. Unless noted otherwise, other data is all inclusive (FHA, ARM, 15-yr, etc.).
Aberdeen Average Closing Costs & Other Stats
Aberdeen, SD's 30 lenders originated 520
loans during 2024. The total origination value was $125,110,000, with an average loan value of
$240,596.
Aberdeen's average closing costs are $4,952.
The top Aberdeen lender as defined by loan originations is Dacotah Bank, with
66 loans originated. Their average total fees are
$3,628, which is $1,402
lower than the next largest lender,
CORTRUST MORTGAGE, INC..
The lowest fee Aberdeen lenders (with over 10 loans originated) are
Dacotah Bank ($3,628), U.S. Bank ($4,469), CORTRUST MORTGAGE, INC. ($5,031), Plains Commerce Bank ($5,297) and American Bank & Trust ($5,370).
The lowest rate Aberdeen lenders (with over 10 loans originated) are
CORTRUST MORTGAGE, INC. (6.20%), Plains Commerce Bank (6.38%), American Bank & Trust (6.45%), Dacotah Bank (6.54%) and U.S. Bank (6.87%).
Aberdeen, SD Mortgage Market Share & Volume
Loan origination value is a good proxy for a lender's prominence within the market. The general assumption is that larger lenders will have more resources, but may spend more (and therefore charge more) on marketing and overhead expenses.
| Name | 2023 Loan Value | 2024 Loan Value | % Change | 2024 Market Share |
|---|---|---|---|---|
| Dacotah Bank | $21,075,000 | $28,800,000 | 36.7% | 23.0% |
| Bank Midwest | $11,850,000 | $11,005,000 | -7.1% | 8.8% |
| Bremer Bank | $10,405,000 | n/a | 8.3% | |
| U.S. Bank | $2,100,000 | $9,415,000 | 348.3% | 7.5% |
| Plains Commerce Bank | $5,730,000 | $7,330,000 | 27.9% | 5.9% |
| CORTRUST MORTGAGE, INC. | $4,950,000 | $7,310,000 | 47.7% | 5.8% |
| First Interstate Bank | $4,310,000 | $6,640,000 | 54.1% | 5.3% |
| American Bank & Trust | $12,690,000 | $6,310,000 | -50.3% | 5.0% |
| QUICKEN LOANS, LLC | $2,665,000 | $4,150,000 | 55.7% | 3.3% |
| Mortgage Research Center, LLC | $2,245,000 | $3,315,000 | 47.7% | 2.6% |
| First PREMIER Bank | $1,415,000 | $2,800,000 | 97.9% | 2.2% |
| CorTrust Bank | $3,345,000 | $2,615,000 | -21.8% | 2.1% |
| Farm Credit Mid-America, ACA | $1,225,000 | $2,455,000 | 100.4% | 2.0% |
| PENNYMAC LOAN SERVICES, LLC | $620,000 | $1,265,000 | 104.0% | 1.0% |
| CROSSCOUNTRY MORTGAGE, LLC | $2,075,000 | $1,190,000 | -42.7% | 1.0% |
| CMG MORTGAGE, INC. | $1,040,000 | n/a | 0.8% | |
| CU MORTGAGE DIRECT, LLC | $370,000 | $1,040,000 | 181.1% | 0.8% |
| LOANDEPOT.COM, LLC | $1,015,000 | n/a | 0.8% | |
| NEWREZ LLC | $350,000 | $925,000 | 164.3% | 0.7% |
| Wells Fargo Bank | $580,000 | $875,000 | 50.9% | 0.7% |
| NAVY FEDERAL CREDIT UNION | $380,000 | $870,000 | 128.9% | 0.7% |
| SIRVA MORTGAGE, INC. | $790,000 | n/a | 0.6% | |
| FREEDOM MORTGAGE CORPORATION | $135,000 | $780,000 | 477.8% | 0.6% |
| AMERISAVE MORTGAGE CORPORATION | $695,000 | $710,000 | 2.2% | 0.6% |
| First Western Bank & Trust | $305,000 | $705,000 | 131.1% | 0.6% |
| Servion, Inc. | $675,000 | n/a | 0.5% | |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $635,000 | n/a | 0.5% | |
| USAA Federal Savings Bank | $880,000 | $600,000 | -31.8% | 0.5% |
| First Savings Bank | $235,000 | $540,000 | 129.8% | 0.4% |
| BANKWEST, INC. | $715,000 | $480,000 | -32.9% | 0.4% |
| MID AMERICA MORTGAGE, INC. | $205,000 | $470,000 | 129.3% | 0.4% |
| Citizens Bank | $170,000 | $445,000 | 161.8% | 0.4% |
| Reliabank Dakota | $660,000 | $440,000 | -33.3% | 0.4% |
| GUARANTEED RATE, INC. | $1,075,000 | $435,000 | -59.5% | 0.3% |
| Cornerstone Bank | $405,000 | n/a | 0.3% | |
| BLACK HILLS FEDERAL CREDIT UNION | $85,000 | $390,000 | 358.8% | 0.3% |
| Discover Bank | $145,000 | $315,000 | 117.2% | 0.3% |
| Bell Bank | $275,000 | n/a | 0.2% | |
| First Federal Bank | $275,000 | n/a | 0.2% | |
| AMERICAN FINANCING CORPORATION | $260,000 | n/a | 0.2% | |
| BankVista | $255,000 | n/a | 0.2% | |
| GARDNER FINANCIAL SERVICES, LTD. | $255,000 | n/a | 0.2% | |
| Willamette Valley Bank | $255,000 | n/a | 0.2% | |
| COMMUNITYAMERICA | $245,000 | n/a | 0.2% | |
| Flagstar Bank, FSB | $105,000 | $245,000 | 133.3% | 0.2% |
| WINGS FINANCIAL | $235,000 | n/a | 0.2% | |
| AMERICAN FINANCIAL RESOURCES, INC. | $225,000 | n/a | 0.2% | |
| Coastal Community Bank | $140,000 | $225,000 | 60.7% | 0.2% |
| UNITED WHOLESALE MORTGAGE, LLC | $265,000 | $225,000 | -15.1% | 0.2% |
| University Bank | $215,000 | n/a | 0.2% | |
| BROKER SOLUTIONS, INC. | $395,000 | $175,000 | -55.7% | 0.1% |
| Bethpage Federal Credit Union | $165,000 | n/a | 0.1% | |
| First Dakota National Bank | $580,000 | $165,000 | -71.6% | 0.1% |
| PLAZA HOME MORTGAGE, INC. | $165,000 | n/a | 0.1% | |
| Barrington Bank & Trust Company, N.A. | $155,000 | n/a | 0.1% | |
| LONGBRIDGE FINANCIAL, LLC | $155,000 | n/a | 0.1% | |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $385,000 | $155,000 | -59.7% | 0.1% |
| Starion Bank | $140,000 | n/a | 0.1% | |
| MUTUAL OF OMAHA MORTGAGE, INC. | $75,000 | $125,000 | 66.7% | 0.1% |
| Ixonia Bank | $85,000 | n/a | 0.1% | |
| RESIDENTIAL BANCORP | $75,000 | n/a | 0.1% | |
| BMO Harris Bank | $65,000 | n/a | 0.1% | |
| NOVATION CREDIT UNION | $125,000 | $45,000 | -64.0% | 0.0% |
Aberdeen's top lender by overall market share is Dacotah Bank, with 23.0% market share. In second place, with 8.8%, is Bank Midwest, having originated $11,005,000 in loans. In third place, with 8.3%, is Bremer Bank, having originated $10,405,000 in loans. In fourth place, with 7.5%, is U.S. Bank, having originated $9,415,000 in loans. In fifth place, with 5.9%, is Plains Commerce Bank, having originated $7,330,000 in loans.
Aberdeen, SD Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 367 | $91,855,000 | $250,286 |
| Refi | 59 | $23,065,000 | $390,932 |
| Home Improvement | 38 | $1,890,000 | $49,737 |
| Cash Out Refi | 35 | $7,215,000 | $206,143 |
| Other | 21 | $1,085,000 | $51,667 |
Aberdeen's most frequently cited loan purpose was Home Purchase, with 367 originations. The 2nd most popular reason was Refi, with 59 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 199 | $57,865,000 | $290,779 |
| 5-6% | 103 | $21,445,000 | $208,204 |
| 7-8% | 94 | $22,350,000 | $237,766 |
| Over 8% | 73 | $7,075,000 | $96,918 |
| 2.5-3% | 7 | $195,000 | $27,857 |
| 4-5% | 5 | $1,245,000 | $249,000 |
During 2024, Aberdeen's most frequently originated rate bucket was 6-7%, with 199 originations.
Loan Sizing (Aberdeen, SD MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $100k-200k | 178 | $27,540,000 | $154,719 |
| $200k-400k | 172 | $46,080,000 | $267,907 |
| $100,000 or less | 128 | $7,350,000 | $57,422 |
| $400k-600k | 29 | $13,225,000 | $456,034 |
| $600k-1000k | 9 | $6,405,000 | $711,667 |
| $Over $1MM | 4 | $24,510,000 | $6,127,500 |
Aberdeen's loan sizing saw the bucket of loans from $100k-200k with 178 originations, totaling $27,540,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 236 | $55,710,000 | $236,059 |
| 60-80% | 116 | $38,630,000 | $333,017 |
| 20-40% | 43 | $4,385,000 | $101,977 |
| 40-60% | 39 | $6,575,000 | $168,590 |
| Under 20% | 37 | $1,605,000 | $43,378 |
| Over 100% | 8 | $2,230,000 | $278,750 |
Aberdeen's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 236 originations, totaling $55,710,000 in origination value.