Brookings Mortgage Rates & Closing Costs

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    • 30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

    30 Year Fixed Rate mortgages in Brookings averaged 6.3% for the week of 2025-03-27, compared to the national average of 6.65% for the same period.

    The average rate for the prior week (2025-03-20) was 6.52% and one month ago for the week of 2025-02-20, the average rate was 6.5%.

    Brookings's average rate one year ago was 6.42%.

    For refis of the same type during the week of 2025-03-27, the average rate was 6.85%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2025-03-27 6.65%
    Brookings 30 Year Fixed Rate 2025-03-27 6.3%
    Brookings 30 Year Fixed Rate Refi 2025-03-27 6.85%
    Brookings 15 Year Fixed Rate 2025-03-27 5.69%
    Brookings 15 Year Fixed Rate Refi 2025-03-27 5.89%
    Brookings 30 Year FHA 2025-03-27 6.17%
    Brookings 30 Year FHA Refi 2025-03-27 6.57%
    Brookings 30 Year USDA 2025-03-27 6.4%
    Brookings 30 Year USDA Refi 2025-03-27 6.4%
    Brookings 30 Year VA 2025-03-27 6.39%
    Brookings 30 Year VA Refi 2025-03-27 6.39%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Brookings, SD.

    Brookings 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 Brookings, 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.).

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    First Bank & Trust 66 6.32% $5,322
    GUARANTEED RATE, INC. 13 7.37% $4,935
    QUICKEN LOANS, LLC 9 6.72% $6,560
    Central Bank 7 6.30% $4,120
    Plains Commerce Bank 6 6.54% $4,405
    Dacotah Bank 6 6.48% $4,505
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 5 7.02% $4,481
    American Bank & Trust 3 6.46% $3,292
    Wells Fargo Bank 3 6.96% $4,704
    SIOUX FALLS 2 6.56% $5,844
    JPMorgan Chase Bank 2 6.68% $5,481
    Bremer Bank 2 6.50% $5,571
    CORTRUST MORTGAGE, INC. 2 7.00% $4,944
    First Dakota National Bank 2 6.19% $2,840
    U.S. Bank 2 6.81% $3,072
    First International Bank & Trust 2 6.69% $7,920
    IOWA BANKERS MORTGAGE CORPORATION 1 6.50% $3,142
    Minnwest Bank 1 7.75% $8,058
    OPEN MORTGAGE, LLC 1 6.63% $4,445
    Paramount Residential Mortgage Group, Inc. 1 7.99% $5,656
    Pinnacle Bank 1 6.13% $2,136
    PREMIA MORTGAGE, LLC 1 7.10% $570
    Prosperity Home Mortgage, LLC 1 6.00% $2,737
    BLACK HILLS FEDERAL CREDIT UNION 1 6.38% $6,971
    SIRVA MORTGAGE, INC. 1 7.63% $2,161
    The First National Bank in Sioux Falls 1 5.50% $7,405
    Think Mutual Bank 1 5.50% $4,243
    THRIVENT Federal Credit Union 1 7.63% $4,923
    Farm Credit Mid-America, ACA 1 7.38% $3,418
    Dakota Community Bank & Trust 1 6.50% $5,553
    CU MORTGAGE DIRECT, LLC 1 5.63% $5,368
    First Interstate Bank 1 6.63% $2,799
    First National Bank of Omaha 1 6.25% $5,860
    First PREMIER Bank 1 6.00% $2,239
    Flagstar Bank, FSB 1 7.63% $3,648
    HOMEOWNERS FINANCIAL GROUP USA, LLC 1 6.50% $11,355

    Brookings Average Closing Costs & Other Stats

    Brookings, SD's 36 lenders originated 441 loans during 2023. The total origination value was $90,135,000, with an average loan value of $204,388.

    Brookings's average closing costs are $4,634.

    The top Brookings lender as defined by loan originations is First Bank & Trust, with 66 loans originated. Their average total fees are $5,322, which is $386 higher than the next largest lender, GUARANTEED RATE, INC..

    The lowest fee Brookings lenders (with over 10 loans originated) are GUARANTEED RATE, INC. ($4,935), First Bank & Trust ($5,322), .

    The lowest rate Brookings lenders (with over 10 loans originated) are First Bank & Trust (6.32%), GUARANTEED RATE, INC. (7.37%), .

    Brookings, 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 2022 Loan Value 2023 Loan Value % Change 2023 Market Share
    First Bank & Trust $42,055,000 $29,995,000 -28.7% 33.3%
    GUARANTEED RATE, INC. $850,000 $8,395,000 887.6% 9.3%
    Plains Commerce Bank $6,775,000 $5,540,000 -18.2% 6.1%
    WALKER & DUNLOP, LLC $4,665,000 n/a 5.2%
    Dacotah Bank $4,130,000 $4,455,000 7.9% 4.9%
    QUICKEN LOANS, LLC $4,270,000 $4,395,000 2.9% 4.9%
    Central Bank $4,085,000 $3,330,000 -18.5% 3.7%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $11,235,000 $2,665,000 -76.3% 3.0%
    Wells Fargo Bank $2,895,000 $1,480,000 -48.9% 1.6%
    American Bank & Trust $1,240,000 $1,250,000 0.8% 1.4%
    Mortgage Research Center, LLC $3,520,000 $1,155,000 -67.2% 1.3%
    SIOUX FALLS $35,000 $1,135,000 3,142.9% 1.3%
    Reliabank Dakota $1,615,000 $1,060,000 -34.4% 1.2%
    First PREMIER Bank $4,305,000 $1,035,000 -76.0% 1.1%
    First International Bank & Trust $14,655,000 $995,000 -93.2% 1.1%
    The First National Bank in Sioux Falls $1,055,000 $915,000 -13.3% 1.0%
    U.S. Bank $710,000 $900,000 26.8% 1.0%
    First Dakota National Bank $1,880,000 $890,000 -52.7% 1.0%
    First Interstate Bank $3,690,000 $820,000 -77.8% 0.9%
    Bremer Bank $775,000 n/a 0.9%
    JPMorgan Chase Bank $385,000 $755,000 96.1% 0.8%
    PREMIA MORTGAGE, LLC $740,000 n/a 0.8%
    UNITED WHOLESALE MORTGAGE, LLC $215,000 $710,000 230.2% 0.8%
    Think Mutual Bank $555,000 n/a 0.6%
    HOMEOWNERS FINANCIAL GROUP USA, LLC $495,000 n/a 0.5%
    Flagstar Bank, FSB $480,000 $470,000 -2.1% 0.5%
    CORTRUST MORTGAGE, INC. $185,000 $460,000 148.6% 0.5%
    Minnwest Bank $455,000 n/a 0.5%
    BLACK HILLS FEDERAL CREDIT UNION $755,000 $445,000 -41.1% 0.5%
    Paramount Residential Mortgage Group, Inc. $425,000 n/a 0.5%
    Discover Bank $410,000 n/a 0.5%
    American Mortgage & Equity Consultants, Inc. $445,000 $390,000 -12.4% 0.4%
    CU MORTGAGE DIRECT, LLC $340,000 $335,000 -1.5% 0.4%
    First National Bank $135,000 $335,000 148.1% 0.4%
    Pinnacle Bank $335,000 n/a 0.4%
    The Federal Savings Bank $305,000 n/a 0.3%
    First National Bank of Omaha $295,000 n/a 0.3%
    CROSSCOUNTRY MORTGAGE, LLC $550,000 $285,000 -48.2% 0.3%
    POLARIS HOME FUNDING CORP. $275,000 n/a 0.3%
    SIRVA MORTGAGE, INC. $165,000 $275,000 66.7% 0.3%
    THRIVENT Federal Credit Union $245,000 $275,000 12.2% 0.3%
    Dakota Community Bank & Trust $265,000 n/a 0.3%
    Cambria Financial Group, LLC $245,000 n/a 0.3%
    Servion, Inc. $715,000 $225,000 -68.5% 0.2%
    USAA Federal Savings Bank $225,000 n/a 0.2%
    Farm Credit Mid-America, ACA $215,000 $220,000 2.3% 0.2%
    Bank Midwest $195,000 $205,000 5.1% 0.2%
    CHURCHILL MORTGAGE CORPORATION $530,000 $205,000 -61.3% 0.2%
    OPEN MORTGAGE, LLC $205,000 n/a 0.2%
    LEADERONE FINANCIAL CORPORATION $195,000 n/a 0.2%
    Cornerstone Bank $185,000 n/a 0.2%
    HomeTown Bank $185,000 n/a 0.2%
    American State Bank $180,000 n/a 0.2%
    CMG MORTGAGE, INC. $175,000 n/a 0.2%
    FREEDOM MORTGAGE CORPORATION $215,000 $175,000 -18.6% 0.2%
    LAKEVIEW LOAN SERVICING, LLC $195,000 $175,000 -10.3% 0.2%
    Mr. Cooper ( Nationstar Mortgage ) $350,000 $175,000 -50.0% 0.2%
    NAVY FEDERAL CREDIT UNION $835,000 $160,000 -80.8% 0.2%
    HIWAY $55,000 $155,000 181.8% 0.2%
    Prosperity Home Mortgage, LLC $145,000 n/a 0.2%
    Figure Lending LLC $25,000 $135,000 440.0% 0.1%
    IOWA BANKERS MORTGAGE CORPORATION $135,000 n/a 0.1%
    BETTER MORTGAGE CORPORATION $285,000 $125,000 -56.1% 0.1%
    Citizens Bank $110,000 n/a 0.1%
    BROKER SOLUTIONS, INC. $105,000 n/a 0.1%
    Bank of America $370,000 $100,000 -73.0% 0.1%
    Coastal Community Bank $95,000 n/a 0.1%
    Flanagan State Bank $695,000 $95,000 -86.3% 0.1%
    NOVATION CREDIT UNION $130,000 $90,000 -30.8% 0.1%
    PENNYMAC LOAN SERVICES, LLC $75,000 n/a 0.1%
    BANKWEST, INC. $810,000 $65,000 -92.0% 0.1%
    CorTrust Bank $55,000 $45,000 -18.2% 0.0%

    Brookings's top lender by overall market share is First Bank & Trust, with 33.3% market share. In second place, with 9.3%, is GUARANTEED RATE, INC., having originated $8,395,000 in loans. In third place, with 6.1%, is Plains Commerce Bank, having originated $5,540,000 in loans. In fourth place, with 5.2%, is WALKER & DUNLOP, LLC, having originated $4,665,000 in loans. In fifth place, with 4.9%, is Dacotah Bank, having originated $4,455,000 in loans.

    Brookings Housing Market Trends (Median, Average Prices & Listing Count)

    Realtor.com - Brookings (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $206,168 (-68.3%) $223,932 (-65.5%) 0.00 93
    2018-02-01 $207,675 (-57.8%) $239,121 (-51.4%) 0.00 92
    2018-03-01 $222,400 (-45.2%) $245,181 (-42.0%) 0.00 101
    2018-04-01 $224,900 (-30.8%) $241,550 (-24.1%) 0.00 110
    2018-05-01 $221,950 (-38.4%) $245,030 (-32.2%) 0.00 118
    2018-06-01 $215,643 (-34.2%) $236,494 (-31.2%) 0.00 130
    2018-07-01 $217,071 (3.4%) $242,722 (-3.0%) 0.00 142
    2018-08-01 $215,271 (4.9%) $249,605 (7.8%) 0.00 141
    2018-09-01 $212,400 (5.7%) $249,629 (8.1%) 0.00 144
    2018-10-01 $217,400 (8.5%) $248,196 (4.6%) 0.00 140
    2018-11-01 $223,725 (4.4%) $255,047 (7.7%) 0.00 131
    2018-12-01 $224,000 (3.8%) $265,413 (13.6%) 0.00 110
    2019-01-01 $231,150 (12.1%) $266,075 (18.8%) 0.00 87
    2019-02-01 $237,400 (14.3%) $276,727 (15.7%) 0.00 81
    2019-03-01 $241,186 (8.5%) $283,522 (15.6%) 0.00 82
    2019-04-01 $243,900 (8.5%) $288,677 (19.5%) 0.00 82
    2019-05-01 $260,900 (17.6%) $297,059 (21.2%) 0.00 86
    2019-06-01 $266,400 (23.5%) $295,794 (25.1%) 0.00 103
    2019-07-01 $256,900 (18.4%) $288,405 (18.8%) 0.00 113
    2019-08-01 $265,109 (23.2%) $292,957 (17.4%) 0.00 113
    2019-09-01 $258,523 (21.7%) $290,183 (16.3%) 0.00 111
    2019-10-01 $254,132 (16.9%) $288,334 (16.2%) 0.00 107
    2019-11-01 $253,400 (13.3%) $284,761 (11.7%) 0.00 99
    2019-12-01 $249,900 (11.6%) $284,943 (7.4%) 0.00 88
    2020-01-01 $244,578 (5.8%) $266,993 (0.4%) 0.00 79
    2020-02-01 $246,900 (4.0%) $271,782 (-1.8%) 0.00 78
    2020-03-01 $266,400 (10.5%) $290,447 (2.4%) 0.00 77
    2020-04-01 $276,150 (13.2%) $298,740 (3.5%) 0.00 89
    2020-05-01 $299,200 (14.7%) $299,601 (0.9%) 0.00 90
    2020-06-01 $292,150 (9.7%) $300,042 (1.4%) 0.00 100
    2020-07-01 $299,400 (16.5%) $311,555 (8.0%) 0.00 90
    2020-08-01 $269,900 (1.8%) $284,257 (-3.0%) 0.00 77
    2020-09-01 $269,900 (4.4%) $289,548 (-0.2%) 0.00 73
    2020-10-01 $274,900 (8.2%) $317,530 (10.1%) 0.00 51
    2020-11-01 $267,650 (5.6%) $310,097 (8.9%) 0.00 46
    2020-12-01 $274,200 (9.7%) $320,338 (12.4%) 0.00 40
    2021-01-01 $309,900 (26.7%) $332,424 (24.5%) 0.00 32
    2021-02-01 $301,150 (22.0%) $342,975 (26.2%) 0.00 31
    2021-03-01 $296,150 (11.2%) $363,195 (25.1%) 0.00 33
    2021-04-01 $289,400 (4.8%) $302,007 (1.1%) 0.00 29
    2021-05-01 $288,900 (-3.4%) $294,595 (-1.7%) 0.00 35
    2021-06-01 $299,900 (2.7%) $369,477 (23.1%) 0.00 44
    2021-07-01 $294,900 (-1.5%) $372,435 (19.5%) 0.00 35
    2021-08-01 $276,400 (2.4%) $368,401 (29.6%) 0.00 36
    2021-09-01 $287,650 (6.6%) $366,796 (26.7%) 0.00 35
    2021-10-01 $296,900 (8.0%) $361,430 (13.8%) 0.00 47
    2021-11-01 $297,900 (11.3%) $372,253 (20.0%) 0.00 40
    2021-12-01 $313,450 (14.3%) $394,624 (23.2%) 0.00 34
    2022-01-01 $328,400 (6.0%) $354,478 (6.6%) 0.00 27
    2022-02-01 $321,150 (6.6%) $325,500 (-5.1%) 0.00 30
    2022-03-01 $325,400 (9.9%) $333,758 (-8.1%) 0.00 34
    2022-04-01 $322,400 (11.4%) $332,796 (10.2%) 0.00 35
    2022-05-01 $324,650 (12.4%) $338,758 (15.0%) 0.00 34
    2022-06-01 $326,800 (9.0%) $357,960 (-3.1%) 0.00 39
    2022-07-01 $328,900 (11.5%) $377,939 (1.5%) 0.00 38
    2022-08-01 $328,900 (19.0%) $379,446 (3.0%) 0.00 42
    2022-09-01 $343,000 (19.2%) $383,542 (4.6%) 0.00 44
    2022-10-01 $359,900 (21.2%) $411,658 (13.9%) 0.00 48
    2022-11-01 $348,175 (16.9%) $415,880 (11.7%) 0.00 45
    2022-12-01 $349,900 (11.6%) $410,859 (4.1%) 0.00 39
    2023-01-01 $373,050 (13.6%) $396,429 (11.8%) 0.00 34
    2023-02-01 $375,550 (16.9%) $390,265 (19.9%) 0.00 32
    2023-03-01 $384,900 (18.3%) $416,259 (24.7%) 0.00 31
    2023-04-01 $367,400 (14.0%) $408,678 (22.8%) 0.00 38
    2023-05-01 $367,400 (13.2%) $417,921 (23.4%) 0.00 55
    2023-06-01 $399,700 (22.3%) $455,924 (27.4%) 0.00 57
    2023-07-01 $384,900 (17.0%) $436,647 (15.5%) 0.00 60
    2023-08-01 $387,400 (17.8%) $428,137 (12.8%) 0.00 73
    2023-09-01 $374,900 (9.3%) $425,136 (10.8%) 0.00 74
    2023-10-01 $375,438 (4.3%) $425,676 (3.4%) 0.00 76
    2023-11-01 $372,400 (7.0%) $423,876 (1.9%) 0.00 73
    2023-12-01 $369,900 (5.7%) $425,597 (3.6%) 0.00 61
    2024-01-01 $372,400 (-0.2%) $439,763 (10.9%) 0.00 58
    2024-02-01 $371,150 (-1.2%) $423,179 (8.4%) 0.00 49
    2024-03-01 $389,900 (1.3%) $436,089 (4.8%) 0.00 55
    2024-04-01 $386,050 (5.1%) $429,686 (5.1%) 0.00 58
    2024-05-01 $383,550 (4.4%) $429,221 (2.7%) 0.00 54
    2024-06-01 $379,500 (-5.1%) $445,466 (-2.3%) 0.00 56
    2024-07-01 $379,500 (-1.4%) $429,732 (-1.6%) 0.00 70
    2024-08-01 $374,950 (-3.2%) $444,814 (3.9%) 0.00 83
    2024-09-01 $374,900 (0.0%) $450,566 (6.0%) 0.00 91
    2024-10-01 $389,900 (3.9%) $449,205 (5.5%) 0.00 81
    2024-11-01 $384,900 (3.4%) $451,027 (6.4%) 0.00 86
    2024-12-01 $382,400 (3.4%) $441,087 (3.6%) 0.00 84
    2025-01-01 $373,675 (0.3%) $423,573 (-3.7%) 0.00 79
    2025-02-01 $391,150 (5.4%) $438,935 (3.7%) 0.00 74
    Brookings's median listing price for 2025-02-01 was $391,150, a difference of $20,000 (5.4%) versus the prior year and $17,475 versus the prior month.

    Brookings's median listing price comes in at 0% of the national average.

    Brookings's average listing price for 2025-02-01 was $438,935, a difference of $15,756 (3.7%) versus the prior year and $15,362 versus the prior month.

    For the 2025-02-01 period, Brookings had 74 MLS listings, a difference of -5 listings (-6%) versus the prior month and 25 listings (51%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Brookings (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,280 sqft
    2018-02-01 0 days 1,290 sqft
    2018-03-01 0 days 1,328 sqft
    2018-04-01 0 days 1,334 sqft
    2018-05-01 0 days 1,344 sqft
    2018-06-01 0 days 1,344 sqft
    2018-07-01 0 days 1,354 sqft
    2018-08-01 0 days 1,364 sqft
    2018-09-01 0 days 1,354 sqft
    2018-10-01 0 days 1,349 sqft
    2018-11-01 0 days 1,347 sqft
    2018-12-01 0 days 1,375 sqft
    2019-01-01 0 days 1,375 sqft
    2019-02-01 0 days 1,395 sqft
    2019-03-01 0 days 1,421 sqft
    2019-04-01 0 days 1,430 sqft
    2019-05-01 0 days 1,437 sqft
    2019-06-01 0 days 1,495 sqft
    2019-07-01 0 days 1,487 sqft
    2019-08-01 0 days 1,484 sqft
    2019-09-01 0 days 1,468 sqft
    2019-10-01 0 days 1,458 sqft
    2019-11-01 0 days 1,426 sqft
    2019-12-01 0 days 1,441 sqft
    2020-01-01 0 days 1,376 sqft
    2020-02-01 0 days 1,379 sqft
    2020-03-01 0 days 1,417 sqft
    2020-04-01 0 days 1,477 sqft
    2020-05-01 0 days 1,478 sqft
    2020-06-01 0 days 1,493 sqft
    2020-07-01 0 days 1,528 sqft
    2020-08-01 0 days 1,523 sqft
    2020-09-01 0 days 1,501 sqft
    2020-10-01 0 days 1,586 sqft
    2020-11-01 0 days 1,515 sqft
    2020-12-01 0 days 1,513 sqft
    2021-01-01 0 days 1,679 sqft
    2021-02-01 0 days 1,531 sqft
    2021-03-01 0 days 1,562 sqft
    2021-04-01 0 days 1,494 sqft
    2021-05-01 0 days 1,358 sqft
    2021-06-01 0 days 1,516 sqft
    2021-07-01 0 days 1,494 sqft
    2021-08-01 0 days 1,508 sqft
    2021-09-01 0 days 1,573 sqft
    2021-10-01 0 days 1,510 sqft
    2021-11-01 0 days 1,571 sqft
    2021-12-01 0 days 1,560 sqft
    2022-01-01 0 days 1,573 sqft
    2022-02-01 0 days 1,500 sqft
    2022-03-01 0 days 1,448 sqft
    2022-04-01 0 days 1,450 sqft
    2022-05-01 0 days 1,448 sqft
    2022-06-01 0 days 1,511 sqft
    2022-07-01 0 days 1,485 sqft
    2022-08-01 0 days 1,464 sqft
    2022-09-01 0 days 1,588 sqft
    2022-10-01 0 days 1,671 sqft
    2022-11-01 0 days 1,570 sqft
    2022-12-01 0 days 1,629 sqft
    2023-01-01 0 days 1,629 sqft
    2023-02-01 0 days 1,586 sqft
    2023-03-01 0 days 1,648 sqft
    2023-04-01 0 days 1,586 sqft
    2023-05-01 0 days 1,558 sqft
    2023-06-01 0 days 1,648 sqft
    2023-07-01 0 days 1,668 sqft
    2023-08-01 0 days 1,656 sqft
    2023-09-01 0 days 1,500 sqft
    2023-10-01 0 days 1,470 sqft
    2023-11-01 0 days 1,470 sqft
    2023-12-01 0 days 1,485 sqft
    2024-01-01 0 days 1,462 sqft
    2024-02-01 0 days 1,462 sqft
    2024-03-01 0 days 1,500 sqft
    2024-04-01 0 days 1,515 sqft
    2024-05-01 0 days 1,507 sqft
    2024-06-01 0 days 1,384 sqft
    2024-07-01 0 days 1,439 sqft
    2024-08-01 0 days 1,596 sqft
    2024-09-01 0 days 1,586 sqft
    2024-10-01 0 days 1,506 sqft
    2024-11-01 0 days 1,562 sqft
    2024-12-01 0 days 1,555 sqft
    2025-01-01 0 days 1,517 sqft
    2025-02-01 0 days 1,484 sqft
    Brookings's median listing age (time on market) for 2025-02-01 was 0 days.

    Brookings's median square footage for active listings during the 2025-02-01 period was 1,484 sqft. One year prior, the average listing was 1,462 sqft.

    Brookings, SD Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 259 $68,225,000 $263,417
    Home Improvement 63 $4,435,000 $70,397
    Refi 56 $10,170,000 $181,607
    Other 32 $2,440,000 $76,250
    Cash Out Refi 31 $4,865,000 $156,935

    Brookings's most frequently cited loan purpose was Home Purchase, with 259 originations. The 2nd most popular reason was Home Improvement, with 63 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    6-7% 157 $36,115,000 $230,032
    5-6% 104 $28,170,000 $270,865
    Over 8% 96 $8,260,000 $86,042
    7-8% 78 $16,840,000 $215,897
    4-5% 2 $320,000 $160,000
    <2.5% 1 $5,000 $5,000
    2.5-3% 1 $175,000 $175,000

    During 2023, Brookings's most frequently originated rate bucket was 6-7%, with 157 originations.

    Loan Sizing (Brookings, SD MSA)

    Loan Size Originations Total Value Average Loan
    $200k-400k 157 $42,695,000 $271,943
    $100,000 or less 143 $7,345,000 $51,364
    $100k-200k 102 $16,260,000 $159,412
    $400k-600k 33 $15,565,000 $471,667
    $600k-1000k 5 $3,605,000 $721,000
    $Over $1MM 1 $4,665,000 $4,665,000

    Brookings's loan sizing saw the bucket of loans from $200k-400k with 157 originations, totaling $42,695,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 155 $42,465,000 $273,968
    Under 20% 88 $3,480,000 $39,545
    60-80% 86 $22,750,000 $264,535
    20-40% 71 $7,845,000 $110,493
    40-60% 34 $11,490,000 $337,941
    Over 100% 5 $1,855,000 $371,000

    Brookings's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 155 originations, totaling $42,465,000 in origination value.