SIOUX FALLS Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Sioux Falls averaged
6.73%
for the week of 2025-07-10, compared to the national average of
6.72% for the same period.
The average rate for the prior week (2025-07-03) was
6.28% and
one month ago for the week of 2025-06-05, the
average rate was 6.56%.
Sioux Falls's average rate one year ago was 6.66%.
For refis of the same type during the week of 2025-07-10, the average rate
was 6.09%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2025-07-10 | 6.72% |
| Sioux Falls 30 Year Fixed Rate | 2025-07-10 | 6.73% |
| Sioux Falls 30 Year Fixed Rate Refi | 2025-07-10 | 6.09% |
| Sioux Falls 15 Year Fixed Rate | 2025-07-10 | 6.35% |
| Sioux Falls 15 Year Fixed Rate Refi | 2025-07-10 | 6.36% |
| Sioux Falls 30 Year FHA | 2025-07-10 | 6.07% |
| Sioux Falls 30 Year FHA Refi | 2025-07-10 | 6.42% |
| Sioux Falls 30 Year USDA | 2025-07-10 | 6.25% |
| Sioux Falls 30 Year USDA Refi | 2025-07-10 | 6.55% |
| Sioux Falls 30 Year VA | 2025-07-10 | 6.04% |
| Sioux Falls 30 Year VA Refi | 2025-07-10 | 5.81% |
SIOUX FALLS 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 SIOUX FALLS, 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.).
SIOUX FALLS Average Closing Costs & Other Stats
SIOUX FALLS, SD's 99 lenders originated 6,745
loans during 2024. The total origination value was $1,822,305,000, with an average loan value of
$270,171.
SIOUX FALLS's average closing costs are $4,844.
The top SIOUX FALLS lender as defined by loan originations is Plains Commerce Bank, with
646 loans originated. Their average total fees are
$5,781, which is $84
higher than the next largest lender,
First Bank & Trust.
The lowest fee SIOUX FALLS lenders (with over 10 loans originated) are
Flagstar Bank, FSB ($3,128), First Dakota National Bank ($3,136), First Interstate Bank ($3,456), U.S. Bank ($3,615) and Dacotah Bank ($3,687).
The lowest rate SIOUX FALLS lenders (with over 10 loans originated) are
Dacotah Bank (6.00%), Central Bank (6.11%), American Bank & Trust (6.15%), Reliabank Dakota (6.24%) and SIOUX FALLS (6.29%).
SIOUX FALLS, 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 |
|---|---|---|---|---|
| Plains Commerce Bank | $292,395,000 | $351,205,000 | 20.1% | 19.3% |
| First PREMIER Bank | $109,210,000 | $144,620,000 | 32.4% | 7.9% |
| First Bank & Trust | $116,990,000 | $129,725,000 | 10.9% | 7.1% |
| First Dakota National Bank | $92,420,000 | $111,280,000 | 20.4% | 6.1% |
| First International Bank & Trust | $53,940,000 | $72,260,000 | 34.0% | 4.0% |
| SIOUX FALLS | $69,430,000 | $69,145,000 | -0.4% | 3.8% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $51,170,000 | $63,320,000 | 23.7% | 3.5% |
| SERVICE FIRST FEDERAL CREDIT UNION | $35,010,000 | $43,300,000 | 23.7% | 2.4% |
| The First National Bank in Sioux Falls | $37,080,000 | $41,445,000 | 11.8% | 2.3% |
| First National Bank of Omaha | $52,365,000 | $37,250,000 | -28.9% | 2.0% |
| Cornerstone Bank | $24,560,000 | $36,680,000 | 49.3% | 2.0% |
| Central Bank | $72,025,000 | $33,660,000 | -53.3% | 1.8% |
| American Bank & Trust | $62,125,000 | $32,965,000 | -46.9% | 1.8% |
| QUICKEN LOANS, LLC | $27,360,000 | $32,645,000 | 19.3% | 1.8% |
| CROSSCOUNTRY MORTGAGE, LLC | $32,320,000 | $31,745,000 | -1.8% | 1.7% |
| U.S. Bank | $29,280,000 | $28,980,000 | -1.0% | 1.6% |
| Reliabank Dakota | $33,690,000 | $28,775,000 | -14.6% | 1.6% |
| Minnwest Bank | $22,105,000 | $28,320,000 | 28.1% | 1.6% |
| UNITED WHOLESALE MORTGAGE, LLC | $5,705,000 | $27,600,000 | 383.8% | 1.5% |
| CBRE MULTIFAMILY CAPITAL, INC. | $26,900,000 | n/a | 1.5% | |
| American State Bank | $16,395,000 | $23,420,000 | 42.8% | 1.3% |
| CORTRUST MORTGAGE, INC. | $17,580,000 | $22,495,000 | 28.0% | 1.2% |
| Mortgage Research Center, LLC | $15,465,000 | $19,615,000 | 26.8% | 1.1% |
| Wells Fargo Bank | $35,030,000 | $19,125,000 | -45.4% | 1.0% |
| BLACK HILLS FEDERAL CREDIT UNION | $16,415,000 | $18,675,000 | 13.8% | 1.0% |
| CorTrust Bank | $16,375,000 | $18,280,000 | 11.6% | 1.0% |
| GUARANTEED RATE, INC. | $16,665,000 | $17,080,000 | 2.5% | 0.9% |
| CU MORTGAGE DIRECT, LLC | $22,445,000 | $16,055,000 | -28.5% | 0.9% |
| JPMorgan Chase Bank | $3,965,000 | $14,940,000 | 276.8% | 0.8% |
| Security National Bank of South Dakota | $4,145,000 | $13,085,000 | 215.7% | 0.7% |
| First Interstate Bank | $16,210,000 | $12,145,000 | -25.1% | 0.7% |
| Dacotah Bank | $6,735,000 | $10,415,000 | 54.6% | 0.6% |
| FREEDOM MORTGAGE CORPORATION | $3,410,000 | $10,165,000 | 198.1% | 0.6% |
| NEWREZ LLC | $3,710,000 | $9,580,000 | 158.2% | 0.5% |
| PENNYMAC LOAN SERVICES, LLC | $3,585,000 | $8,320,000 | 132.1% | 0.5% |
| IOWA BANKERS MORTGAGE CORPORATION | $4,560,000 | $7,120,000 | 56.1% | 0.4% |
| Flagstar Bank, FSB | $7,345,000 | $6,835,000 | -6.9% | 0.4% |
| VOYAGE FEDERAL CREDIT UNION | $7,935,000 | $5,930,000 | -25.3% | 0.3% |
| BANKWEST, INC. | $4,515,000 | $5,715,000 | 26.6% | 0.3% |
| LOANDEPOT.COM, LLC | $4,350,000 | $5,605,000 | 28.9% | 0.3% |
| UBS Bank USA | $5,295,000 | n/a | 0.3% | |
| Morgan Stanley Private Bank | $1,040,000 | $5,205,000 | 400.5% | 0.3% |
| WaterStone Bank, SSB | $5,185,000 | n/a | 0.3% | |
| SIOUX EMPIRE | $4,240,000 | $4,935,000 | 16.4% | 0.3% |
| Farm Credit Mid-America, ACA | $5,330,000 | $4,745,000 | -11.0% | 0.3% |
| West Gate Bank | $915,000 | $4,445,000 | 385.8% | 0.2% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $1,350,000 | $4,430,000 | 228.1% | 0.2% |
| Security Savings Bank | $3,280,000 | $4,420,000 | 34.8% | 0.2% |
| CMG MORTGAGE, INC. | $1,395,000 | $4,205,000 | 201.4% | 0.2% |
| The Security National Bank of Sioux City, Iowa | $3,995,000 | n/a | 0.2% | |
| Citizens Bank | $4,890,000 | $3,940,000 | -19.4% | 0.2% |
| Rivers Edge Bank | $4,965,000 | $3,465,000 | -30.2% | 0.2% |
| PRIMARY RESIDENTIAL MORTGAGE, INC. | $5,845,000 | $3,400,000 | -41.8% | 0.2% |
| NBKC BANK | $3,365,000 | n/a | 0.2% | |
| First Savings Bank | $900,000 | $3,200,000 | 255.6% | 0.2% |
| LAKEVIEW LOAN SERVICING, LLC | $715,000 | $3,160,000 | 342.0% | 0.2% |
| NAVY FEDERAL CREDIT UNION | $3,500,000 | $3,105,000 | -11.3% | 0.2% |
| Discover Bank | $3,170,000 | $3,040,000 | -4.1% | 0.2% |
| Mr. Cooper ( Nationstar Mortgage ) | $1,740,000 | $2,480,000 | 42.5% | 0.1% |
| Northwest Bank | $320,000 | $2,445,000 | 664.1% | 0.1% |
| RESIDENTIAL BANCORP | $140,000 | $2,430,000 | 1,635.7% | 0.1% |
| Century Mortgage Company DBA Century Lending Company | $215,000 | $2,355,000 | 995.3% | 0.1% |
| NEW DAY FINANCIAL, LLC | $1,000,000 | $2,355,000 | 135.5% | 0.1% |
| First National Bank | $1,185,000 | $2,160,000 | 82.3% | 0.1% |
| AmeriHome Mortgage Company, LLC | $860,000 | $2,145,000 | 149.4% | 0.1% |
| Stifel Bank and Trust | $105,000 | $2,075,000 | 1,876.2% | 0.1% |
| PHH Mortgage Corporation | $165,000 | $1,940,000 | 1,075.8% | 0.1% |
| GREENSTATE CREDIT UNION | $1,925,000 | n/a | 0.1% | |
| USAA Federal Savings Bank | $5,690,000 | $1,875,000 | -67.0% | 0.1% |
| Bell Bank | $3,305,000 | $1,795,000 | -45.7% | 0.1% |
| Heritage Bank | $3,895,000 | $1,780,000 | -54.3% | 0.1% |
| BROKER SOLUTIONS, INC. | $625,000 | $1,715,000 | 174.4% | 0.1% |
| Prosperity Home Mortgage, LLC | $3,750,000 | $1,685,000 | -55.1% | 0.1% |
| Bank of America | $2,560,000 | $1,625,000 | -36.5% | 0.1% |
| 21ST MORTGAGE CORPORATION | $1,150,000 | $1,620,000 | 40.9% | 0.1% |
| Flanagan State Bank | $2,565,000 | $1,615,000 | -37.0% | 0.1% |
| AMERISAVE MORTGAGE CORPORATION | $2,765,000 | $1,545,000 | -44.1% | 0.1% |
| Bank Midwest | $445,000 | $1,290,000 | 189.9% | 0.1% |
| The Loan Store, Inc. | $1,285,000 | n/a | 0.1% | |
| GUILD MORTGAGE COMPANY | $155,000 | $1,270,000 | 719.4% | 0.1% |
| VILLAGE CAPITAL MORTGAGE | $265,000 | $1,270,000 | 379.2% | 0.1% |
| First Western Bank & Trust | $1,300,000 | $1,205,000 | -7.3% | 0.1% |
| First Savings Bank | $900,000 | $1,195,000 | 32.8% | 0.1% |
| CHURCHILL MORTGAGE CORPORATION | $1,065,000 | n/a | 0.1% | |
| American Mortgage & Equity Consultants, Inc. | $1,020,000 | $1,030,000 | 1.0% | 0.1% |
| BETTER MORTGAGE CORPORATION | $385,000 | $1,020,000 | 164.9% | 0.1% |
| CARDINAL FINANCIAL | $355,000 | $1,010,000 | 184.5% | 0.1% |
| Leader Bank | $205,000 | $1,010,000 | 392.7% | 0.1% |
| Charles Schwab Bank, SSB | $235,000 | $985,000 | 319.1% | 0.1% |
| OCMBC, INC. | $980,000 | n/a | 0.1% | |
| PLANET HOME LENDING, LLC | $225,000 | $970,000 | 331.1% | 0.1% |
| Coastal Community Bank | $1,500,000 | $960,000 | -36.0% | 0.1% |
| First Federal Bank | $1,100,000 | $925,000 | -15.9% | 0.1% |
| Liberty National Bank | $2,185,000 | $895,000 | -59.0% | 0.0% |
| Peoples Bank | $3,025,000 | $870,000 | -71.2% | 0.0% |
| ZILLOW HOME LOANS, LLC | $285,000 | $860,000 | 201.8% | 0.0% |
| Arvest Bank | $750,000 | $830,000 | 10.7% | 0.0% |
| Equity Prime Mortgage LLC | $810,000 | n/a | 0.0% | |
| Premier Bank | $685,000 | $785,000 | 14.6% | 0.0% |
| BMO Harris Bank | $2,035,000 | $780,000 | -61.7% | 0.0% |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $770,000 | n/a | 0.0% | |
| Bethpage Federal Credit Union | $405,000 | $750,000 | 85.2% | 0.0% |
| Servion, Inc. | $735,000 | n/a | 0.0% | |
| Raymond James Bank | $860,000 | $725,000 | -15.7% | 0.0% |
| Midwest Heritage Bank FSB | $660,000 | $660,000 | 0.0% | 0.0% |
| Bremer Bank | $215,000 | $655,000 | 204.7% | 0.0% |
| Granite Community Bank | $650,000 | n/a | 0.0% | |
| Old National Bank | $635,000 | n/a | 0.0% | |
| Bank of England | $625,000 | n/a | 0.0% | |
| GUARANTEED RATE AFFINITY, LLC | $625,000 | n/a | 0.0% | |
| AMERICAN INTERNET MORTGAGE, INC. | $610,000 | n/a | 0.0% | |
| MID AMERICA MORTGAGE, INC. | $160,000 | $570,000 | 256.3% | 0.0% |
| TRIAD FINANCIAL SERVICES, INC. | $660,000 | $565,000 | -14.4% | 0.0% |
| National Bank of Commerce | $555,000 | n/a | 0.0% | |
| Carrington Mortgage Services, LLC | $910,000 | $535,000 | -41.2% | 0.0% |
| PENTAGON FEDERAL CREDIT UNION | $530,000 | n/a | 0.0% | |
| COMPEER FINANCIAL, FLCA | $205,000 | $525,000 | 156.1% | 0.0% |
| Figure Lending LLC | $935,000 | $500,000 | -46.5% | 0.0% |
| NexBank | $105,000 | $490,000 | 366.7% | 0.0% |
| M&T Bank | $405,000 | n/a | 0.0% | |
| Texana Bank | $405,000 | n/a | 0.0% | |
| Gate City Bank | $395,000 | n/a | 0.0% | |
| Florida Capital Bank | $385,000 | n/a | 0.0% | |
| FOUR POINTS | $265,000 | $385,000 | 45.3% | 0.0% |
| GENEVA FINANCIAL, LLC | $385,000 | n/a | 0.0% | |
| Citibank | $85,000 | $380,000 | 347.1% | 0.0% |
| Deere Employees Credit Union | $500,000 | $380,000 | -24.0% | 0.0% |
| Farmers Bank & Trust | $375,000 | n/a | 0.0% | |
| Alerus Financial | $365,000 | n/a | 0.0% | |
| CASTLE & COOKE MORTGAGE, LLC | $365,000 | n/a | 0.0% | |
| Pioneer Bank | $850,000 | $365,000 | -57.1% | 0.0% |
| Alliance Bank | $155,000 | $355,000 | 129.0% | 0.0% |
| Magnolia Bank | $350,000 | n/a | 0.0% | |
| Truist | $1,200,000 | $345,000 | -71.3% | 0.0% |
| HOMESIDE FINANCIAL, LLC | $335,000 | n/a | 0.0% | |
| AMERICAN FINANCING CORPORATION | $890,000 | $330,000 | -62.9% | 0.0% |
| BAY EQUITY LLC | $325,000 | n/a | 0.0% | |
| Lakeview Community Capital, LLC | $325,000 | n/a | 0.0% | |
| SUN WEST MORTGAGE COMPANY, INC. | $315,000 | n/a | 0.0% | |
| AMERICAN FINANCIAL NETWORK, INC. | $310,000 | n/a | 0.0% | |
| Cornerstone State Bank | $305,000 | n/a | 0.0% | |
| The Federal Savings Bank | $620,000 | $305,000 | -50.8% | 0.0% |
| V.I.P. MORTGAGE, INC. | $540,000 | $305,000 | -43.5% | 0.0% |
| Primebank | $805,000 | $295,000 | -63.4% | 0.0% |
| ARC HOME LLC | $265,000 | n/a | 0.0% | |
| Frandsen Bank & Trust | $265,000 | n/a | 0.0% | |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | $4,345,000 | $255,000 | -94.1% | 0.0% |
| Grand Bank for Savings, FSB | $295,000 | $255,000 | -13.6% | 0.0% |
| MORTGAGE SOLUTIONS OF COLORADO, LLC | $265,000 | $255,000 | -3.8% | 0.0% |
| PLAZA HOME MORTGAGE, INC. | $670,000 | $255,000 | -61.9% | 0.0% |
| TEACHERS | $255,000 | n/a | 0.0% | |
| Jonah Bank of Wyoming | $245,000 | n/a | 0.0% | |
| THRIVENT Federal Credit Union | $410,000 | $240,000 | -41.5% | 0.0% |
| Gateway First Bank | $1,280,000 | $235,000 | -81.6% | 0.0% |
| UNION HOME MORTGAGE CORP. | $235,000 | n/a | 0.0% | |
| FINANCE OF AMERICA REVERSE LLC | $275,000 | $230,000 | -16.4% | 0.0% |
| POLARIS HOME FUNDING CORP. | $555,000 | $225,000 | -59.5% | 0.0% |
| Pinnacle Bank | $325,000 | $220,000 | -32.3% | 0.0% |
| Devon Bank | $215,000 | n/a | 0.0% | |
| TOWNE MORTGAGE COMPANY | $215,000 | n/a | 0.0% | |
| Ally Bank | $325,000 | $195,000 | -40.0% | 0.0% |
| COMPASS MORTGAGE, INC. | $175,000 | n/a | 0.0% | |
| University Bank | $165,000 | n/a | 0.0% | |
| CITIZENS EQUITY FIRST | $225,000 | $155,000 | -31.1% | 0.0% |
| WESCOM CENTRAL CREDIT UNION | $155,000 | n/a | 0.0% | |
| ANGEL OAK MORTGAGE SOLUTIONS LLC | $125,000 | n/a | 0.0% | |
| Deseret First Credit Union | $125,000 | n/a | 0.0% | |
| DIGITAL Federal Credit Union | $315,000 | $125,000 | -60.3% | 0.0% |
| American Bank Center | $105,000 | n/a | 0.0% | |
| EASTMAN | $85,000 | n/a | 0.0% | |
| USAlliance Federal Credit Union | $85,000 | n/a | 0.0% | |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $635,000 | $80,000 | -87.4% | 0.0% |
| WINGS FINANCIAL | $910,000 | $75,000 | -91.8% | 0.0% |
| RAILWAY CREDIT UNION | $55,000 | n/a | 0.0% | |
| CREDIT HUMAN FEDERAL CREDIT UNION | $45,000 | n/a | 0.0% | |
| ALLIANT CREDIT UNION | $35,000 | n/a | 0.0% | |
| Signature Federal Credit Union | $35,000 | n/a | 0.0% | |
| SPIRE Credit Union | $35,000 | n/a | 0.0% |
SIOUX FALLS's top lender by overall market share is Plains Commerce Bank, with 19.3% market share. In second place, with 7.9%, is First PREMIER Bank, having originated $144,620,000 in loans. In third place, with 7.1%, is First Bank & Trust, having originated $129,725,000 in loans. In fourth place, with 6.1%, is First Dakota National Bank, having originated $111,280,000 in loans. In fifth place, with 4.0%, is First International Bank & Trust, having originated $72,260,000 in loans.
SIOUX FALLS, SD Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 4,040 | $1,354,550,000 | $335,285 |
| Cash Out Refi | 876 | $140,310,000 | $160,171 |
| Refi | 802 | $229,210,000 | $285,798 |
| Home Improvement | 557 | $48,555,000 | $87,172 |
| Other | 470 | $49,680,000 | $105,702 |
Sioux Falls's most frequently cited loan purpose was Home Purchase, with 4,040 originations. The 2nd most popular reason was Cash Out Refi, with 876 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 2,403 | $761,835,000 | $317,035 |
| Over 8% | 1,370 | $176,920,000 | $129,139 |
| 5-6% | 1,183 | $390,645,000 | $330,216 |
| 7-8% | 899 | $259,215,000 | $288,337 |
| 4-5% | 108 | $25,680,000 | $237,778 |
| 2.5-3% | 13 | $375,000 | $28,846 |
| <2.5% | 10 | $1,780,000 | $178,000 |
| 3-4% | 6 | $970,000 | $161,667 |
During 2024, Sioux Falls's most frequently originated rate bucket was 6-7%, with 2,403 originations.
Loan Sizing (SIOUX FALLS, SD MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $200k-400k | 3,007 | $852,625,000 | $283,547 |
| $100,000 or less | 1,515 | $83,755,000 | $55,284 |
| $100k-200k | 1,300 | $194,450,000 | $149,577 |
| $400k-600k | 614 | $292,460,000 | $476,319 |
| $600k-1000k | 237 | $169,105,000 | $713,523 |
| $Over $1MM | 72 | $229,910,000 | $3,193,194 |
SIOUX FALLS's loan sizing saw the bucket of loans from $200k-400k with 3,007 originations, totaling $852,625,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 2,513 | $800,625,000 | $318,593 |
| 60-80% | 1,144 | $431,200,000 | $376,923 |
| Under 20% | 921 | $64,035,000 | $69,528 |
| 20-40% | 826 | $122,460,000 | $148,257 |
| 40-60% | 468 | $161,800,000 | $345,726 |
| Over 100% | 66 | $23,520,000 | $356,364 |
SIOUX FALLS's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 2,513 originations, totaling $800,625,000 in origination value.