SIOUX FALLS Mortgage Rates

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

30 Year Fixed Rate mortgages in Sioux Falls averaged 5.63% for the week of 2022-06-23, compared to the national average of 5.81% for the same period.

The average rate for the prior week (2022-06-16) was 5.8% and one month ago for the week of 2022-05-19, the average rate was 5.17%.

Sioux Falls's average rate one year ago was 2.98%.

For refis of the same type during the week of 2022-06-23, the average rate was 5.46%.

Loan Type Date Rate
US 30 Year Fixed Rate 2022-06-23 5.81%
Sioux Falls 30 Year Fixed Rate 2022-06-23 5.63%
Sioux Falls 30 Year Fixed Rate Refi 2022-06-23 5.46%
Sioux Falls 15 Year Fixed Rate 2022-06-23 4.98%
Sioux Falls 15 Year Fixed Rate Refi 2022-06-23 4.68%
Sioux Falls 30 Year FHA 2022-06-23 -0.08%
Sioux Falls 30 Year FHA Refi 2022-06-23 -0.35%
Sioux Falls 30 Year USDA 2022-06-23 -0.3%
Sioux Falls 30 Year USDA Refi 2022-06-23 -0.36%
Sioux Falls 30 Year VA 2022-06-23 -0.05%
Sioux Falls 30 Year VA Refi 2022-06-23 -0.09%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within SIOUX FALLS, SD.

SIOUX FALLS Top Lenders by Rates & Fees

The below table looks at the consensus average rates and fees provided by each lendor, 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.).

Name # of Loans 2021 Avg. 30yFix Rate 2021 Avg. Total Fees
Plains Commerce Bank 1,542 3.04% $3,894
First PREMIER Bank 633 2.91% $3,735
First Bank & Trust 435 2.80% $4,825
First Dakota National Bank 386 2.94% $2,827
SIOUX FALLS 355 2.74% $3,711
Wells Fargo Bank 267 3.08% $3,097
CORTRUST MORTGAGE, INC. 238 2.88% $4,885
CU MORTGAGE DIRECT, LLC 210 2.95% $3,342
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 193 3.10% $3,825
QUICKEN LOANS, LLC 185 3.09% $5,060
First International Bank & Trust 172 3.12% $3,324
U.S. Bank 168 3.13% $2,830
The First National Bank in Sioux Falls 158 2.74% $4,611
Reliabank Dakota 132 2.94% $3,548
Great Western Bank 127 3.07% $3,742
American Bank & Trust 117 2.95% $3,043
GUARANTEED RATE, INC. 107 3.14% $3,790
Central Bank 92 3.08% $4,537
CROSSCOUNTRY MORTGAGE, LLC 81 3.07% $5,168
BLACK HILLS FEDERAL CREDIT UNION 75 2.89% $4,860
UNITED WHOLESALE MORTGAGE, LLC 72 2.92% $3,462
Flagstar Bank, FSB 50 3.00% $3,080
Citizens Bank 44 2.91% $3,845
CALIBER HOME LOANS, INC. 38 2.98% $2,671
IOWA BANKERS MORTGAGE CORPORATION 34 2.89% $3,386
LOANDEPOT.COM, LLC 32 3.03% $5,407
KELLER MORTGAGE, LLC 32 3.11% $1,708
AMERISAVE MORTGAGE CORPORATION 30 2.99% $5,007
HOME POINT FINANCIAL CORPORATION 21 3.06% $3,009
Mr. Cooper ( Nationstar Mortgage ) 20 3.21% $5,554
American State Bank 20 2.85% $3,507
PENNYMAC LOAN SERVICES, LLC 20 3.30% $6,192
Dacotah Bank 19 2.92% $2,655
Heritage Bank 19 3.02% $4,281
BETTER MORTGAGE CORPORATION 16 2.92% $2,802
AmeriHome Mortgage Company, LLC 13 2.71% $4,096
JPMorgan Chase Bank 12 3.22% $4,277
Farm Credit Mid-America, ACA 11 3.50% $6,801
NAVY FEDERAL CREDIT UNION 11 3.50% $4,712
BANKWEST, INC. 11 2.90% $3,963
FREEDOM MORTGAGE CORPORATION 10 3.20% $1,985
BROKER SOLUTIONS, INC. 10 3.10% $3,695
Bank of America 9 2.97% $2,953
Flanagan State Bank 8 3.30% $5,756
CMG MORTGAGE, INC. 7 3.07% $3,717
NEWREZ LLC 7 2.89% $4,653
Chickasaw Community Bank 7 3.18% $3,847
TCF National Bank 6 3.15% $3,937
Ally Bank 6 3.08% $3,082
ARK-LA-TEX FINANCIAL SERVICES, LLC. 6 3.02% $3,385
First National Bank 6 2.75% $3,826
Truist Bank 6 3.19% $3,804
The Huntington National Bank 5 3.13% $2,762
Arvest Bank 5 3.45% $3,918
HOMEOWNERS FINANCIAL GROUP USA, LLC 5 3.05% $3,091
Midwest Heritage Bank FSB 5 3.13% $2,236
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP 4 3.18% $1,857
Citibank 4 2.81% $4,923
MUTUAL OF OMAHA MORTGAGE, INC. 4 3.16% $4,296
Stifel Bank and Trust 3 2.83% $2,027
AMERICAN FINANCING CORPORATION 3 3.08% $6,832
HOMESTEAD FUNDING CORP. 3 2.71% $5,098
Gate City Bank 3 2.92% $5,485
RBC Bank, (Georgia) 3 3.17% $1,978
Gateway First Bank 3 3.25% $3,381
Bank Midwest 3 2.87% $3,751
Barrington Bank & Trust Company, N.A. 3 3.08% $3,109
Unify Home Lending Inc. 3 3.17% $3,482
PENTAGON FEDERAL CREDIT UNION 3 2.92% $1,890
Northpointe Bank 2 3.04% $2,421
AMERICAN INTERNET MORTGAGE, INC. 2 2.88% $3,209
Northwest Bank 2 3.19% $1,858
Wyndham Capital Mortgage, Inc. 2 3.63% $5,274
Bank of the West 2 3.31% $2,733
Deere Employees Credit Union 2 2.63% $2,211
FINANCE OF AMERICA MORTGAGE LLC 2 2.75% $3,219
CHURCHILL MORTGAGE CORPORATION 2 3.19% $4,998
LENDERFI, INC. 2 2.75% $1,787
GUARANTY HOME MORTGAGE CORPORATION 2 3.31% $4,951
Raymond James Bank 2 2.81% $2,240
Bremer Bank 2 2.81% $3,412
DAS Acquisition Company, LLC 2 3.12% $3,896
Manufacturers and Traders Trust Company 2 3.56% $4,023
Servion, Inc. 2 2.88% $2,468
Morgan Stanley Private Bank 2 2.43% $3,475
Mortgage Research Center, LLC 2 2.62% $3,128
DRAPER AND KRAMER MORTGAGE CORP. 2 3.00% $2,389
Alerus Financial 2 3.00% $1,408
HomeTown Bank 2 3.13% $5,644
UBS Bank USA 2 3.19% $4,139
First Interstate Bank 2 3.13% $5,184
Discover Bank 2 4.57% $0
PREMIA MORTGAGE, LLC 1 2.99% $210
REDWOOD RESIDENTIAL ACQUISITION CORPORATION 1 2.88% $3,591
Arbor Bank 1 3.25% $2,274
Roundbank 1 3.00% $4,543
S1L, Inc. 1 3.25% $2,728
ANGEL OAK MORTGAGE SOLUTIONS LLC 1 5.88% $4,136
SIOUXLAND FEDERAL CREDIT UNION 1 2.50% $1,969
SOFI LENDING CORP. 1 3.13% $3,323
STEARNS LENDING, LLC 1 2.63% $2,267
SUMMIT FUNDING, INC. 1 3.38% $5,257
AMERICAN PACIFIC MORTGAGE CORPORATION 1 2.99% $3,195
Think Mutual Bank 1 3.13% $3,292
THRIVENT Federal Credit Union 1 3.00% $2,964
Toyota Financial Savings Bank 1 2.88% $3,754
ZILLOW HOME LOANS, LLC 1 2.88% $6,024
American Mortgage & Equity Consultants, Inc. 1 3.25% $1,650
UNIVERSAL LENDING CORPORATION 1 3.00% $2,224
USAA Federal Savings Bank 1 3.13% $3,497
Waterstone Mortgage Corporation 1 3.38% $3,097
Western State Bank 1 3.13% $1,662
Willamette Valley Bank 1 3.50% $4,100
WINGS FINANCIAL 1 2.88% $2,558
EVERETT FINANCIAL, INC. 1 3.50% $1,613
EVANSVILLE TEACHERS 1 2.75% $4,415
FirstBank 1 3.13% $2,585
Elements Financial Federal Credit Union 1 3.63% $3,973
Dundee Bank 1 3.63% $2,889
First Federal Bank 1 2.63% $4,692
First Home Bank 1 3.88% $10,334
First National Bank of America 1 6.75% $10,230
First National Bank of Omaha 1 2.50% $2,466
First Savings Bank 1 2.88% $6,243
COMPEER FINANCIAL, FLCA 1 3.13% $3,493
Goldwater Bank, N.A. 1 2.75% $7,043
Grand Bank for Savings, FSB 1 6.88% $4,536
GREAT LAKES 1 3.00% $3,017
Great Southern Bank 1 2.75% $2,158
CHERRY CREEK MORTGAGE, LLC 1 2.88% $123
Home Federal Savings Bank 1 3.00% $5,177
CELEBRITY HOME LOANS, LLC 1 3.38% $4,627
Hometown Lenders, Inc. 1 3.37% $2,910
IMPAC MORTGAGE CORP. 1 3.13% $1,095
INLAND BANK & TRUST 1 3.25% $2,720
Carrington Mortgage Services, LLC 1 2.88% $3,673
Cambria Financial Group, LLC 1 3.75% $3,804
LAKEVIEW LOAN SERVICING, LLC 1 3.13% $2,720
LAND HOME FINANCIAL SERVICES, INC. 1 2.99% $18,359
Lend Smart Mortgage, LLC 1 3.00% $5,858
MANN FINANCIAL INC. 1 4.88% $2,866
MOVEMENT MORTGAGE, LLC 1 3.19% $0
BOKF 1 2.88% $2,368
Nations Lending Corporation 1 3.00% $4,658
Baxter Credit Union 1 3.13% $2,677
NBKC BANK 1 2.75% $3,238
NEW DAY FINANCIAL, LLC 1 2.50% $2,805
NFM, INC. 1 3.00% $3,276
North American Savings Bank, F.S.B. 1 2.75% $0
Paramount Residential Mortgage Group, Inc. 1 3.88% $2,344
PHH Mortgage Corporation 1 3.38% $6,582
Pinnacle Bank 1 2.63% $2,419
PLAZA HOME MORTGAGE, INC. 1 3.25% $3,487
PNC Bank 1 2.88% $2,972
POLARIS HOME FUNDING CORP. 1 3.38% $7,602

SIOUX FALLS, SD's 155 lenders originated 13,888 loans during 2021. The total origination value was $3,687,300,000, with an average loan value of $265,503.

The top SIOUX FALLS lender as defined by loan originations is Plains Commerce Bank, with 1,542 loans originated. Their average total fees are $3,894, which is $159 higher than the next largest lender, First PREMIER Bank.

The lowest fee SIOUX FALLS lenders (with over 10 loans originated) are KELLER MORTGAGE, LLC ($1,708), FREEDOM MORTGAGE CORPORATION ($1,985), Dacotah Bank ($2,655), CALIBER HOME LOANS, INC. ($2,671) and BETTER MORTGAGE CORPORATION ($2,802).

The lowest rate SIOUX FALLS lenders (with over 10 loans originated) are AmeriHome Mortgage Company, LLC (2.71%), SIOUX FALLS (2.74%), The First National Bank in Sioux Falls (2.74%), First Bank & Trust (2.80%) and American State Bank (2.85%).

SIOUX FALLS, SD Lender 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 2020 Loan Value 2021 Loan Value % Change 2021 Market Share
Plains Commerce Bank $850,290,000 $620,320,000 -27.0% 16.8%
First PREMIER Bank $387,300,000 $351,320,000 -9.3% 9.5%
First Dakota National Bank $316,245,000 $237,625,000 -24.9% 6.4%
First Bank & Trust $94,740,000 $232,160,000 145.0% 6.3%
SIOUX FALLS $257,420,000 $156,630,000 -39.2% 4.2%
Wells Fargo Bank $102,050,000 $131,340,000 28.7% 3.6%
The First National Bank in Sioux Falls $162,020,000 $114,250,000 -29.5% 3.1%
Great Western Bank $127,930,000 $102,640,000 -19.8% 2.8%
CORTRUST MORTGAGE, INC. $192,305,000 $95,550,000 -50.3% 2.6%
FAIRWAY INDEPENDENT MORTGAGE CORPORATION $88,515,000 $85,510,000 -3.4% 2.3%
Reliabank Dakota $114,265,000 $83,905,000 -26.6% 2.3%
Central Bank $56,855,000 $83,100,000 46.2% 2.3%
U.S. Bank $107,305,000 $82,975,000 -22.7% 2.3%
QUICKEN LOANS, LLC $82,475,000 $82,945,000 0.6% 2.2%
First International Bank & Trust $660,000 $82,280,000 12,366.7% 2.2%
CU MORTGAGE DIRECT, LLC $137,830,000 $79,730,000 -42.2% 2.2%
Grandbridge Real Estate Capital LLC $108,425,000 $71,885,000 -33.7% 1.9%
American Bank & Trust $111,270,000 $66,985,000 -39.8% 1.8%
GUARANTEED RATE, INC. $67,055,000 $58,145,000 -13.3% 1.6%
CorTrust Bank $9,905,000 $56,090,000 466.3% 1.5%
CROSSCOUNTRY MORTGAGE, LLC $71,150,000 $44,465,000 -37.5% 1.2%
JONES LANG LASALLE MULTIFAMILY, LLC $44,270,000 n/a 1.2%
VERIDIAN CREDIT UNION $225,000 $36,485,000 16,115.6% 1.0%
Security National Bank of South Dakota $31,370,000 n/a 0.9%
UNITED WHOLESALE MORTGAGE, LLC $99,680,000 $30,730,000 -69.2% 0.8%
BLACK HILLS FEDERAL CREDIT UNION $49,140,000 $25,960,000 -47.2% 0.7%
Heritage Bank $21,450,000 $23,750,000 10.7% 0.6%
FREEDOM MORTGAGE CORPORATION $20,650,000 $23,335,000 13.0% 0.6%
Mortgage Research Center, LLC $18,945,000 $22,530,000 18.9% 0.6%
American State Bank $22,280,000 $20,885,000 -6.3% 0.6%
CALIBER HOME LOANS, INC. $25,165,000 $19,910,000 -20.9% 0.5%
Flagstar Bank, FSB $36,835,000 $19,470,000 -47.1% 0.5%
LOANDEPOT.COM, LLC $9,930,000 $19,270,000 94.1% 0.5%
River Bank $18,755,000 n/a 0.5%
PENNYMAC LOAN SERVICES, LLC $12,395,000 $16,755,000 35.2% 0.5%
First Savings Bank $1,855,000 $15,835,000 753.6% 0.4%
Minnwest Bank $17,105,000 $15,365,000 -10.2% 0.4%
BELLWETHER ENTERPRISE REAL ESTATE CAPITAL, LLC $56,250,000 $14,980,000 -73.4% 0.4%
Cornerstone Bank $3,460,000 $14,755,000 326.4% 0.4%
Citizens Bank $33,950,000 $14,085,000 -58.5% 0.4%
AMERISAVE MORTGAGE CORPORATION $5,955,000 $13,050,000 119.1% 0.4%
IOWA BANKERS MORTGAGE CORPORATION $15,460,000 $12,715,000 -17.8% 0.3%
SERVICE FIRST FEDERAL CREDIT UNION $83,980,000 $11,710,000 -86.1% 0.3%
Dacotah Bank $25,025,000 $11,320,000 -54.8% 0.3%
Mr. Cooper ( Nationstar Mortgage ) $11,535,000 $10,300,000 -10.7% 0.3%
HOME POINT FINANCIAL CORPORATION $8,005,000 $10,155,000 26.9% 0.3%
VOYAGE FEDERAL CREDIT UNION $10,850,000 $10,085,000 -7.1% 0.3%
KELLER MORTGAGE, LLC $16,645,000 $9,635,000 -42.1% 0.3%
Flanagan State Bank $19,160,000 $8,620,000 -55.0% 0.2%
Farm Credit Mid-America, ACA $6,285,000 $8,525,000 35.6% 0.2%
NAVY FEDERAL CREDIT UNION $3,495,000 $8,290,000 137.2% 0.2%
LAKEVIEW LOAN SERVICING, LLC $4,835,000 $8,075,000 67.0% 0.2%
BETTER MORTGAGE CORPORATION $4,845,000 $7,200,000 48.6% 0.2%
Merchants Bank of Indiana $16,200,000 $7,200,000 -55.6% 0.2%
BANKWEST, INC. $8,545,000 $6,785,000 -20.6% 0.2%
Independent Bank $495,000 $6,570,000 1,227.3% 0.2%
DAS Acquisition Company, LLC $3,585,000 $6,450,000 79.9% 0.2%
JPMorgan Chase Bank $4,765,000 $6,120,000 28.4% 0.2%
NEW DAY FINANCIAL, LLC $2,610,000 $4,990,000 91.2% 0.1%
NEWREZ LLC $3,830,000 $4,880,000 27.4% 0.1%
VILLAGE CAPITAL & INVESTMENT LLC $3,565,000 $4,280,000 20.1% 0.1%
Home Federal Savings Bank $245,000 $4,080,000 1,565.3% 0.1%
Liberty National Bank $8,500,000 $4,025,000 -52.6% 0.1%
Carrington Mortgage Services, LLC $2,020,000 $3,825,000 89.4% 0.1%
Bank of America $3,650,000 $3,745,000 2.6% 0.1%
First National Bank $4,850,000 $3,740,000 -22.9% 0.1%
AmeriHome Mortgage Company, LLC $3,730,000 n/a 0.1%
Westbury Bank $3,605,000 n/a 0.1%
USAA Federal Savings Bank $7,225,000 $3,390,000 -53.1% 0.1%
BROKER SOLUTIONS, INC. $3,975,000 $3,320,000 -16.5% 0.1%
Truist Bank $1,230,000 $3,230,000 162.6% 0.1%
Premier Bank $4,135,000 $3,120,000 -24.5% 0.1%
Starion Bank $2,855,000 n/a 0.1%
CMG MORTGAGE, INC. $1,960,000 $2,785,000 42.1% 0.1%
First National Bank of Omaha $865,000 $2,575,000 197.7% 0.1%
Barrington Bank & Trust Company, N.A. $3,760,000 $2,470,000 -34.3% 0.1%
Bremer Bank $890,000 $2,450,000 175.3% 0.1%
Bell Bank $355,000 $2,350,000 562.0% 0.1%
GUILD MORTGAGE COMPANY $790,000 $2,315,000 193.0% 0.1%
Ally Bank $2,305,000 n/a 0.1%
Arvest Bank $1,265,000 $2,295,000 81.4% 0.1%
Northwest Bank $4,340,000 $2,180,000 -49.8% 0.1%
Midwest Heritage Bank FSB $1,795,000 $2,170,000 20.9% 0.1%
TCF National Bank $3,055,000 $2,170,000 -29.0% 0.1%
North American Savings Bank, F.S.B. $1,970,000 $2,145,000 8.9% 0.1%
Peoples Bank $805,000 $2,120,000 163.4% 0.1%
HOMEBRIDGE FINANCIAL SERVICES, INC. $1,545,000 $2,105,000 36.2% 0.1%
The Federal Savings Bank $4,760,000 $1,935,000 -59.3% 0.1%
FINANCE OF AMERICA REVERSE LLC $1,370,000 $1,930,000 40.9% 0.1%
WALKER & DUNLOP, LLC $1,815,000 n/a 0.0%
Chickasaw Community Bank $505,000 $1,785,000 253.5% 0.0%
Cedar Rapids Bank and Trust Company $1,775,000 n/a 0.0%
ARK-LA-TEX FINANCIAL SERVICES, LLC. $2,650,000 $1,745,000 -34.2% 0.0%
MUTUAL OF OMAHA MORTGAGE, INC. $3,210,000 $1,650,000 -48.6% 0.0%
UBS Bank USA $1,565,000 n/a 0.0%
OPEN MORTGAGE, LLC $1,490,000 $1,540,000 3.4% 0.0%
Morgan Stanley Private Bank $385,000 $1,520,000 294.8% 0.0%
AMERICAN INTERNET MORTGAGE, INC. $1,475,000 n/a 0.0%
Paramount Bank $185,000 $1,475,000 697.3% 0.0%
AMERICAN FINANCING CORPORATION $1,565,000 $1,465,000 -6.4% 0.0%
HOMEOWNERS FINANCIAL GROUP USA, LLC $2,965,000 $1,425,000 -51.9% 0.0%
CHURCHILL MORTGAGE CORPORATION $320,000 $1,385,000 332.8% 0.0%
PENTAGON FEDERAL CREDIT UNION $505,000 $1,330,000 163.4% 0.0%
RBC Bank, (Georgia) $1,325,000 n/a 0.0%
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP $9,885,000 $1,315,000 -86.7% 0.0%
The Huntington National Bank $1,265,000 n/a 0.0%
Bank Midwest $2,740,000 $1,250,000 -54.4% 0.0%
EVANSVILLE TEACHERS $1,250,000 n/a 0.0%
Citibank $2,955,000 $1,215,000 -58.9% 0.0%
HOMESTEAD FUNDING CORP. $1,190,000 n/a 0.0%
American Federal Bank $270,000 $1,175,000 335.2% 0.0%
REDWOOD RESIDENTIAL ACQUISITION CORPORATION $1,165,000 n/a 0.0%
AMERICAN FINANCIAL NETWORK, INC. $195,000 $1,150,000 489.7% 0.0%
Gateway First Bank $2,765,000 $1,120,000 -59.5% 0.0%
Unify Home Lending Inc. $1,565,000 $1,110,000 -29.1% 0.0%
Stifel Bank and Trust $845,000 $1,095,000 29.6% 0.0%
Discover Bank $965,000 $1,075,000 11.4% 0.0%
Raymond James Bank $1,070,000 n/a 0.0%
Gate City Bank $985,000 n/a 0.0%
Toyota Financial Savings Bank $965,000 n/a 0.0%
ANGEL OAK MORTGAGE SOLUTIONS LLC $935,000 n/a 0.0%
Pinnacle Bank $890,000 n/a 0.0%
Wyndham Capital Mortgage, Inc. $890,000 n/a 0.0%
Bank of the West $2,020,000 $870,000 -56.9% 0.0%
NBKC BANK $1,600,000 $810,000 -49.4% 0.0%
MID AMERICA MORTGAGE, INC. $540,000 $805,000 49.1% 0.0%
First Interstate Bank $925,000 $770,000 -16.8% 0.0%
FirstBank $1,115,000 $735,000 -34.1% 0.0%
Manufacturers and Traders Trust Company $730,000 n/a 0.0%
HomeTown Bank $1,180,000 $710,000 -39.8% 0.0%
Black Hills Community Bank $175,000 $705,000 302.9% 0.0%
EVERETT FINANCIAL, INC. $745,000 $660,000 -11.4% 0.0%
LENDERFI, INC. $660,000 n/a 0.0%
MOVEMENT MORTGAGE, LLC $650,000 n/a 0.0%
HIGHMARK $145,000 $640,000 341.4% 0.0%
Arbor Bank $605,000 n/a 0.0%
Lakeview Community Capital, LLC $420,000 $600,000 42.9% 0.0%
KS StateBank $2,655,000 $590,000 -77.8% 0.0%
Northpointe Bank $235,000 $575,000 144.7% 0.0%
PRIMELENDING, A PLAINSCAPITAL COMPANY $990,000 $570,000 -42.4% 0.0%
Midstates Bank $565,000 n/a 0.0%
CITIZENS EQUITY FIRST $545,000 n/a 0.0%
INLAND BANK & TRUST $545,000 n/a 0.0%
RUOFF MORTGAGE COMPANY, INC. $545,000 n/a 0.0%
STEARNS LENDING, LLC $265,000 $545,000 105.7% 0.0%
CHERRY CREEK MORTGAGE, LLC $540,000 n/a 0.0%
Alerus Financial $510,000 $535,000 4.9% 0.0%
First Home Bank $520,000 n/a 0.0%
First Savings Bank $1,855,000 $520,000 -72.0% 0.0%
GUARANTY HOME MORTGAGE CORPORATION $520,000 n/a 0.0%
21ST MORTGAGE CORPORATION $555,000 $515,000 -7.2% 0.0%
HOMESTAR FINANCIAL CORPORATION $185,000 $515,000 178.4% 0.0%
LAND HOME FINANCIAL SERVICES, INC. $105,000 $515,000 390.5% 0.0%
WINGS FINANCIAL $435,000 $490,000 12.6% 0.0%
PNC Bank $14,250,000 $485,000 -96.6% 0.0%
First Guaranty Mortgage Corporation $1,090,000 $475,000 -56.4% 0.0%
AMERICAN ADVISORS GROUP $765,000 $470,000 -38.6% 0.0%
Deere Employees Credit Union $455,000 n/a 0.0%
COMPEER FINANCIAL, FLCA $305,000 $450,000 47.5% 0.0%
Roundbank $165,000 $440,000 166.7% 0.0%
Goldwater Bank, N.A. $135,000 $435,000 222.2% 0.0%
FINANCE OF AMERICA MORTGAGE LLC $420,000 n/a 0.0%
Servion, Inc. $320,000 $415,000 29.7% 0.0%
Think Mutual Bank $1,195,000 $415,000 -65.3% 0.0%
SIOUXLAND FEDERAL CREDIT UNION $275,000 $405,000 47.3% 0.0%
Lend Smart Mortgage, LLC $1,220,000 $390,000 -68.0% 0.0%
SOUTHPOINT FINANCIAL $610,000 $390,000 -36.1% 0.0%
First National Bank of America $385,000 n/a 0.0%
DRAPER AND KRAMER MORTGAGE CORP. $370,000 n/a 0.0%
SUN WEST MORTGAGE COMPANY, INC. $355,000 n/a 0.0%
IMPAC MORTGAGE CORP. $350,000 n/a 0.0%
OCEANSIDE MORTGAGE COMPANY $660,000 $350,000 -47.0% 0.0%
PLANET HOME LENDING, LLC $135,000 $330,000 144.4% 0.0%
American Mortgage & Equity Consultants, Inc. $795,000 $325,000 -59.1% 0.0%
POLARIS HOME FUNDING CORP. $325,000 n/a 0.0%
Western State Bank $325,000 n/a 0.0%
PREMIA MORTGAGE, LLC $600,000 $320,000 -46.7% 0.0%
First Federal Bank $205,000 $315,000 53.7% 0.0%
Dundee Bank $305,000 n/a 0.0%
STAR ONE CREDIT UNION $305,000 n/a 0.0%
PHH Mortgage Corporation $115,000 $300,000 160.9% 0.0%
GREAT LAKES $295,000 n/a 0.0%
Hometown Lenders, Inc. $290,000 n/a 0.0%
Nations Lending Corporation $1,035,000 $290,000 -72.0% 0.0%
Ixonia Bank $365,000 $285,000 -21.9% 0.0%
MANN FINANCIAL INC. $265,000 n/a 0.0%
S1L, Inc. $355,000 $265,000 -25.4% 0.0%
THRIVENT Federal Credit Union $300,000 $260,000 -13.3% 0.0%
AMERICAN PACIFIC MORTGAGE CORPORATION $255,000 n/a 0.0%
SOFI LENDING CORP. $255,000 n/a 0.0%
Low VA Rates, LLC $715,000 $245,000 -65.7% 0.0%
Elements Financial Federal Credit Union $235,000 n/a 0.0%
Great Southern Bank $235,000 n/a 0.0%
Grand Bank for Savings, FSB $225,000 n/a 0.0%
Paramount Residential Mortgage Group, Inc. $2,100,000 $225,000 -89.3% 0.0%
PLAZA HOME MORTGAGE, INC. $590,000 $225,000 -61.9% 0.0%
Presidential Bank, FSB $225,000 n/a 0.0%
TRIAD FINANCIAL SERVICES, INC. $225,000 n/a 0.0%
VISIONBank $225,000 n/a 0.0%
First Community Bank $215,000 n/a 0.0%
Independent Bank $495,000 $215,000 -56.6% 0.0%
TEMPLE VIEW CAPITAL FUNDING, LP $205,000 n/a 0.0%
AMCAP MORTGAGE, LTD. $195,000 n/a 0.0%
Baxter Credit Union $195,000 n/a 0.0%
BOKF $195,000 n/a 0.0%
GENEVA FINANCIAL, LLC $195,000 n/a 0.0%
HIWAY $95,000 $195,000 105.3% 0.0%
SUMMIT FUNDING, INC. $190,000 n/a 0.0%
NFM, INC. $185,000 n/a 0.0%
ZILLOW HOME LOANS, LLC $175,000 n/a 0.0%
AMERICAN HERITAGE FCU $165,000 n/a 0.0%
Cambria Financial Group, LLC $740,000 $165,000 -77.7% 0.0%
Sierra Pacific Mortgage Company, Inc. $165,000 n/a 0.0%
UNIVERSAL LENDING CORPORATION $165,000 n/a 0.0%
Waterstone Mortgage Corporation $165,000 n/a 0.0%
Willamette Valley Bank $165,000 n/a 0.0%
ALLIANT CREDIT UNION $185,000 $155,000 -16.2% 0.0%
Axos Bank $145,000 n/a 0.0%
Florida Capital Bank $185,000 $145,000 -21.6% 0.0%
CELEBRITY HOME LOANS, LLC $135,000 n/a 0.0%
BLUELEAF LENDING, LLC $115,000 n/a 0.0%
Centier Bank $110,000 n/a 0.0%
CHEVRON $95,000 n/a 0.0%
CITY-COUNTY CREDIT UNION $95,000 n/a 0.0%
Figure Lending LLC $95,000 $95,000 0.0% 0.0%
Hawthorn Bank $95,000 n/a 0.0%
Notre Dame Federal Credit Union Corporation $90,000 n/a 0.0%
Bank of England $980,000 $85,000 -91.3% 0.0%
Union State Bank of Fargo $75,000 n/a 0.0%
AIR ACADEMY $65,000 n/a 0.0%
BMO Harris Bank $55,000 n/a 0.0%
STAR USA FEDERAL CREDIT UNION $15,000 n/a 0.0%

SIOUX FALLS's top lender by overall market share is Plains Commerce Bank, with 16.8% market share. In second place, with 9.5%, is First PREMIER Bank, having originated $351,320,000 in loans. In third place, with 6.4%, is First Dakota National Bank, having originated $237,625,000 in loans. In third place, with 6.3%, is First Bank & Trust, having originated $232,160,000 in loans. In third place, with 4.2%, is SIOUX FALLS, having originated $156,630,000 in loans.


SIOUX FALLS, SD Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 5,859 $1,930,155,000 $329,434
Refi 4,592 $1,035,330,000 $225,464
Cash Out Refi 2,849 $647,025,000 $227,106
Other 319 $45,715,000 $143,307
Home Improvement 267 $28,855,000 $108,071
NA 2 $220,000 $110,000

Sioux Falls's most frequently cited loan purpose was Home Purchase, with 5,859 originations. The 2nd most popular reason was Refi, with 4,592 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
2.5-3% 5,411 $1,379,805,000 $255,000
<2.5% 3,987 $927,125,000 $232,537
3-4% 3,438 $1,077,530,000 $313,418
4-5% 576 $94,620,000 $164,271
5-6% 184 $20,300,000 $110,326
6-7% 62 $5,290,000 $85,323
7-8% 31 $2,165,000 $69,839
Over 8% 15 $705,000 $47,000

During 2021, Sioux Falls's most frequently originated rate bucket was 2.5-3%, with 5,411 originations.

Loan Sizing (SIOUX FALLS, SD MSA)

Loan Size Originations Total Value Average Loan
$200k-400k 6,052 $1,629,770,000 $269,294
$100k-200k 5,088 $787,730,000 $154,821
$100,000 or less 1,408 $89,700,000 $63,707
$400k-600k 1,087 $522,305,000 $480,501
$600k-1000k 146 $110,640,000 $757,808
$Over $1MM 107 $547,155,000 $5,113,598

SIOUX FALLS's loan sizing saw the bucket of loans from $200k-400k with 6,052 originations, totaling $1,629,770,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 5,189 $1,351,445,000 $260,444
60-80% 4,967 $1,487,185,000 $299,413
40-60% 1,960 $423,040,000 $215,837
20-40% 785 $133,445,000 $169,994
Under 20% 501 $33,365,000 $66,597
Over 100% 115 $36,875,000 $320,652

SIOUX FALLS's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 5,189 originations, totaling $1,351,445,000 in origination value.


Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - SIOUX FALLS (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 $234,900 (6.8%) $288,327 (2.8%) 0.87 941
2018-02-01 $237,000 (7.8%) $288,282 (2.9%) 0.85 990
2018-03-01 $239,900 (9.1%) $294,394 (2.4%) 0.83 1,031
2018-04-01 $239,900 (6.7%) $294,411 (2.5%) 0.81 1,096
2018-05-01 $240,775 (7.0%) $299,698 (3.9%) 0.80 1,181
2018-06-01 $239,900 (6.7%) $298,681 (3.4%) 0.80 1,205
2018-07-01 $233,900 (4.0%) $286,939 (-1.8%) 0.78 1,238
2018-08-01 $233,400 (1.7%) $287,797 (-1.5%) 0.78 1,257
2018-09-01 $229,900 (0.0%) $285,823 (-1.9%) 0.77 1,270
2018-10-01 $229,500 (-0.2%) $283,533 (-2.8%) 0.77 1,286
2018-11-01 $229,900 (0.0%) $285,736 (-1.1%) 0.77 1,199
2018-12-01 $229,900 (0.0%) $286,245 (-0.6%) 0.79 1,079
2019-01-01 $234,950 (0.0%) $289,040 (0.3%) 0.81 998
2019-02-01 $234,900 (-0.9%) $289,935 (0.6%) 0.79 993
2019-03-01 $239,126 (-0.3%) $295,359 (0.3%) 0.78 1,053
2019-04-01 $244,830 (2.1%) $303,340 (3.0%) 0.77 1,148
2019-05-01 $244,900 (1.7%) $307,803 (2.7%) 0.75 1,258
2019-06-01 $244,900 (2.1%) $306,622 (2.7%) 0.75 1,325
2019-07-01 $245,000 (4.8%) $304,755 (6.2%) 0.76 1,360
2019-08-01 $247,057 (5.9%) $305,969 (6.3%) 0.78 1,346
2019-09-01 $249,457 (8.5%) $306,484 (7.2%) 0.79 1,308
2019-10-01 $249,900 (8.9%) $765,248 (169.9%) 0.80 1,381
2019-11-01 $244,900 (6.5%) $300,243 (5.1%) 0.79 1,386
2019-12-01 $239,900 (4.4%) $296,907 (3.7%) 0.80 1,172
2020-01-01 $244,265 (4.0%) $296,249 (2.5%) 0.81 1,105
2020-02-01 $241,900 (3.0%) $293,674 (1.3%) 0.78 1,188
2020-03-01 $245,450 (2.6%) $300,062 (1.6%) 0.77 1,320
2020-04-01 $249,900 (2.1%) $304,380 (0.3%) 0.78 1,455
2020-05-01 $249,900 (2.0%) $309,728 (0.6%) 0.76 1,487
2020-06-01 $252,450 (3.1%) $319,876 (4.3%) 0.74 1,514
2020-07-01 $254,900 (4.0%) $319,103 (4.7%) 0.73 1,459
2020-08-01 $250,000 (1.2%) $312,726 (2.2%) 0.71 1,423
2020-09-01 $249,900 (0.2%) $311,686 (1.7%) 0.71 1,365
2020-10-01 $247,900 (-0.8%) $308,239 (-59.7%) 0.71 1,256
2020-11-01 $247,250 (1.0%) $309,149 (3.0%) 0.71 1,026
2020-12-01 $249,800 (4.1%) $312,998 (5.4%) 0.73 864
2021-01-01 $249,900 (2.3%) $311,256 (5.1%) 0.74 779
2021-02-01 $252,000 (4.2%) $312,741 (6.5%) 0.72 803
2021-03-01 $262,450 (6.9%) $316,207 (5.4%) 0.74 911
2021-04-01 $265,000 (6.0%) $322,427 (5.9%) 0.71 1,052
2021-05-01 $274,900 (10.0%) $331,283 (7.0%) 0.72 1,143
2021-06-01 $275,000 (8.9%) $332,418 (3.9%) 0.71 1,187
2021-07-01 $274,950 (7.9%) $330,827 (3.7%) 0.71 1,195
2021-08-01 $275,000 (10.0%) $332,145 (6.2%) 0.72 1,200
2021-09-01 $274,950 (10.0%) $341,372 (9.5%) 0.72 1,179
2021-10-01 $274,900 (10.9%) $344,625 (11.8%) 0.72 1,075
2021-11-01 $275,000 (11.2%) $345,195 (11.7%) 0.72 982
2021-12-01 $286,900 (14.9%) $358,134 (14.4%) 0.77 776
2022-01-01 $299,900 (20.0%) $376,665 (21.0%) 0.80 639
2022-02-01 $307,450 (22.0%) $379,815 (21.5%) 0.78 691
2022-03-01 $324,900 (23.8%) $391,525 (23.8%) 0.80 766
2022-04-01 $327,000 (23.4%) $390,969 (21.3%) 0.77 902
2022-05-01 $334,700 (21.8%) $400,466 (20.9%) 0.75 955
SIOUX FALLS's median listing price for 2022-05-01 was $334,700, a difference of $59,800 (21.8%) versus the prior year and $7,700 versus the prior month.

SIOUX FALLS's median listing price comes in at 75% of the national average.

SIOUX FALLS's average listing price for 2022-05-01 was $400,466, a difference of $69,183 (20.9%) versus the prior year and $9,497 versus the prior month.

For the 2022-05-01 period, SIOUX FALLS had 955 MLS listings, a difference of 53 listings (6%) versus the prior month and -188 listings (-16%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - SIOUX FALLS (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 67 days 1,807 sqft
2018-02-01 53 days 1,807 sqft
2018-03-01 45 days 1,814 sqft
2018-04-01 40 days 1,859 sqft
2018-05-01 38 days 1,875 sqft
2018-06-01 38 days 1,893 sqft
2018-07-01 37 days 1,818 sqft
2018-08-01 38 days 1,799 sqft
2018-09-01 40 days 1,770 sqft
2018-10-01 41 days 1,731 sqft
2018-11-01 51 days 1,738 sqft
2018-12-01 62 days 1,727 sqft
2019-01-01 65 days 1,734 sqft
2019-02-01 55 days 1,746 sqft
2019-03-01 45 days 1,782 sqft
2019-04-01 37 days 1,832 sqft
2019-05-01 29 days 1,869 sqft
2019-06-01 32 days 1,857 sqft
2019-07-01 35 days 1,834 sqft
2019-08-01 39 days 1,860 sqft
2019-09-01 42 days 1,892 sqft
2019-10-01 44 days 1,909 sqft
2019-11-01 49 days 1,868 sqft
2019-12-01 61 days 1,784 sqft
2020-01-01 66 days 1,759 sqft
2020-02-01 53 days 1,758 sqft
2020-03-01 44 days 1,779 sqft
2020-04-01 43 days 1,789 sqft
2020-05-01 43 days 1,788 sqft
2020-06-01 42 days 1,847 sqft
2020-07-01 44 days 1,833 sqft
2020-08-01 42 days 1,822 sqft
2020-09-01 42 days 1,807 sqft
2020-10-01 43 days 1,774 sqft
2020-11-01 50 days 1,743 sqft
2020-12-01 56 days 1,708 sqft
2021-01-01 53 days 1,666 sqft
2021-02-01 42 days 1,666 sqft
2021-03-01 36 days 1,682 sqft
2021-04-01 35 days 1,706 sqft
2021-05-01 37 days 1,780 sqft
2021-06-01 36 days 1,803 sqft
2021-07-01 37 days 1,772 sqft
2021-08-01 36 days 1,726 sqft
2021-09-01 37 days 1,679 sqft
2021-10-01 39 days 1,664 sqft
2021-11-01 40 days 1,655 sqft
2021-12-01 46 days 1,656 sqft
2022-01-01 56 days 1,657 sqft
2022-02-01 36 days 1,663 sqft
2022-03-01 32 days 1,718 sqft
2022-04-01 32 days 1,768 sqft
2022-05-01 36 days 1,804 sqft
SIOUX FALLS's median listing age (time on market) for 2022-05-01 was 36 days. This is -4% shorter than the same period one year ago.

SIOUX FALLS's median square footage for active listings during the 2022-05-01 period was 1,804 sqft. One year prior, the average listing was 1,780 sqft.