Vermillion Mortgage Rates & Closing Costs

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

30 Year Fixed Rate mortgages in Vermillion averaged 6.78% for the week of 2025-06-26, compared to the national average of 6.77% for the same period.

The average rate for the prior week (2025-06-18) was 6.82% and one month ago for the week of 2025-05-22, the average rate was 6.87%.

Vermillion's average rate one year ago was 6.98%.

For refis of the same type during the week of 2025-06-26, the average rate was 6.87%.

Loan Type Date Rate
US 30 Year Fixed Rate 2025-06-26 6.77%
Vermillion 30 Year Fixed Rate 2025-06-26 6.78%
Vermillion 30 Year Fixed Rate Refi 2025-06-26 6.87%
Vermillion 15 Year Fixed Rate 2025-06-26 5.89%
Vermillion 15 Year Fixed Rate Refi 2025-06-26 6.09%
Vermillion 30 Year FHA 2025-06-26 6.69%
Vermillion 30 Year FHA Refi 2025-06-26 6.39%
Vermillion 30 Year USDA 2025-06-26 6.56%
Vermillion 30 Year USDA Refi 2025-06-26 6.56%
Vermillion 30 Year VA 2025-06-26 6.34%
Vermillion 30 Year VA Refi 2025-06-26 6.24%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Vermillion, SD.

Vermillion 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 Vermillion, 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 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
First Dakota National Bank 18 6.77% $2,459
First Bank & Trust 8 6.56% $4,552
Plains Commerce Bank 7 6.63% $4,335
Wells Fargo Bank 4 7.50% $4,514
U.S. Bank 4 6.84% $3,074
First PREMIER Bank 3 7.13% $5,018
Ally Bank 2 5.94% $4,961
CORTRUST MORTGAGE, INC. 2 7.25% $4,573
CU MORTGAGE DIRECT, LLC 1 5.88% $3,175
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.63% $7,842
Farm Credit Mid-America, ACA 1 7.13% $8,823
BMO Harris Bank 1 6.00% $3,038
BANKWEST, INC. 1 6.38% $9,038
First International Bank & Trust 1 6.13% $4,307
First National Bank of Omaha 1 7.00% $2,705
Gate City Bank 1 6.63% $7,263
GUARANTEED RATE, INC. 1 6.63% $8,062
Paramount Residential Mortgage Group, Inc. 1 6.38% $5,296
AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.50% $11,750
QUICKEN LOANS, LLC 1 6.75% $7,817
Servion, Inc. 1 6.88% $6,180
SIOUX FALLS 1 6.50% $2,989
The Loan Store, Inc. 1 6.88% $21,422
CHARTER WEST BANK 1 7.38% $2,977
Central Bank 1 6.75% $5,153
Citizens Bank 1 5.99% $5,571
Community Mortgage Banc Corporation 1 6.50% $2,981

Vermillion Average Closing Costs & Other Stats

Vermillion, SD's 27 lenders originated 210 loans during 2024. The total origination value was $37,940,000, with an average loan value of $180,667.

Vermillion's average closing costs are $4,487.

The top Vermillion lender as defined by loan originations is First Dakota National Bank, with 18 loans originated. Their average total fees are $2,459, which is $2,093 lower than the next largest lender, First Bank & Trust.

The lowest fee Vermillion lenders (with over 10 loans originated) are First Dakota National Bank ($2,459), .

The lowest rate Vermillion lenders (with over 10 loans originated) are First Dakota National Bank (6.77%), .

Vermillion, 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
First Bank & Trust $2,110,000 $5,800,000 174.9% 15.3%
First Dakota National Bank $6,925,000 $5,435,000 -21.5% 14.3%
Plains Commerce Bank $6,145,000 $2,715,000 -55.8% 7.2%
First PREMIER Bank $910,000 $1,945,000 113.7% 5.1%
QUICKEN LOANS, LLC $1,700,000 $1,430,000 -15.9% 3.8%
U.S. Bank $1,220,000 n/a 3.2%
BMO Harris Bank $270,000 $1,200,000 344.4% 3.2%
Mortgage Research Center, LLC $500,000 $1,180,000 136.0% 3.1%
VOYAGE FEDERAL CREDIT UNION $760,000 $1,160,000 52.6% 3.1%
Wells Fargo Bank $885,000 n/a 2.3%
FAIRWAY INDEPENDENT MORTGAGE CORPORATION $665,000 $785,000 18.0% 2.1%
GUARANTEED RATE, INC. $780,000 n/a 2.1%
CorTrust Bank $1,015,000 $755,000 -25.6% 2.0%
Bank of Dixon County $590,000 $745,000 26.3% 2.0%
The Loan Store, Inc. $735,000 n/a 1.9%
First National Bank of Omaha $365,000 $630,000 72.6% 1.7%
LOANDEPOT.COM, LLC $255,000 $630,000 147.1% 1.7%
Farm Credit Mid-America, ACA $550,000 $545,000 -0.9% 1.4%
CHARTER WEST BANK $455,000 n/a 1.2%
Flanagan State Bank $295,000 $455,000 54.2% 1.2%
First International Bank & Trust $740,000 $445,000 -39.9% 1.2%
Gate City Bank $435,000 n/a 1.1%
21ST MORTGAGE CORPORATION $115,000 $395,000 243.5% 1.0%
BANKWEST, INC. $380,000 n/a 1.0%
CORTRUST MORTGAGE, INC. $600,000 $380,000 -36.7% 1.0%
FNB BANK $365,000 n/a 1.0%
MUTUAL OF OMAHA MORTGAGE, INC. $635,000 $355,000 -44.1% 0.9%
Servion, Inc. $335,000 n/a 0.9%
GUILD MORTGAGE COMPANY $315,000 n/a 0.8%
The First National Bank in Sioux Falls $305,000 n/a 0.8%
USAA Federal Savings Bank $245,000 $305,000 24.5% 0.8%
VILLAGE CAPITAL MORTGAGE $305,000 n/a 0.8%
American Mortgage & Equity Consultants, Inc. $365,000 $295,000 -19.2% 0.8%
MID AMERICA MORTGAGE, INC. $285,000 n/a 0.8%
Citizens Bank $275,000 n/a 0.7%
UNITED WHOLESALE MORTGAGE, LLC $275,000 n/a 0.7%
Ally Bank $270,000 n/a 0.7%
TRIAD FINANCIAL SERVICES, INC. $160,000 $265,000 65.6% 0.7%
FOUR POINTS $255,000 n/a 0.7%
AMERICAN PACIFIC MORTGAGE CORPORATION $225,000 n/a 0.6%
Central Bank $225,000 $215,000 -4.4% 0.6%
Community Mortgage Banc Corporation $175,000 n/a 0.5%
S1L, Inc. $170,000 n/a 0.4%
CU MORTGAGE DIRECT, LLC $820,000 $165,000 -79.9% 0.4%
Paramount Residential Mortgage Group, Inc. $165,000 n/a 0.4%
PENNYMAC LOAN SERVICES, LLC $155,000 n/a 0.4%
CROSSCOUNTRY MORTGAGE, LLC $405,000 $145,000 -64.2% 0.4%
SIOUX FALLS $115,000 n/a 0.3%
Discover Bank $65,000 n/a 0.2%
First Interstate Bank $25,000 $55,000 120.0% 0.1%
First Savings Bank $55,000 n/a 0.1%
NAVY FEDERAL CREDIT UNION $175,000 $45,000 -74.3% 0.1%
Premier Bank $25,000 $25,000 0.0% 0.1%

Vermillion's top lender by overall market share is First Bank & Trust, with 15.3% market share. In second place, with 14.3%, is First Dakota National Bank, having originated $5,435,000 in loans. In third place, with 7.2%, is Plains Commerce Bank, having originated $2,715,000 in loans. In fourth place, with 5.1%, is First PREMIER Bank, having originated $1,945,000 in loans. In fifth place, with 3.8%, is QUICKEN LOANS, LLC, having originated $1,430,000 in loans.

Vermillion, SD Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 133 $29,115,000 $218,910
Cash Out Refi 24 $3,640,000 $151,667
Home Improvement 22 $1,170,000 $53,182
Refi 19 $2,725,000 $143,421
Other 12 $1,290,000 $107,500

Vermillion's most frequently cited loan purpose was Home Purchase, with 133 originations. The 2nd most popular reason was Cash Out Refi, with 24 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
6-7% 60 $14,310,000 $238,500
Over 8% 53 $4,995,000 $94,245
7-8% 35 $9,155,000 $261,571
5-6% 25 $5,605,000 $224,200
4-5% 1 $105,000 $105,000

During 2024, Vermillion's most frequently originated rate bucket was 6-7%, with 60 originations.

Loan Sizing (Vermillion, SD MSA)

Loan Size Originations Total Value Average Loan
$100,000 or less 74 $3,640,000 $49,189
$100k-200k 61 $8,925,000 $146,311
$200k-400k 56 $15,510,000 $276,964
$400k-600k 16 $7,720,000 $482,500
$600k-1000k 3 $2,145,000 $715,000

Vermillion's loan sizing saw the bucket of loans from $100,000 or less with 74 originations, totaling $3,640,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 71 $17,245,000 $242,887
60-80% 41 $8,805,000 $214,756
Under 20% 21 $1,125,000 $53,571
20-40% 18 $1,990,000 $110,556
40-60% 12 $3,010,000 $250,833
Over 100% 5 $1,195,000 $239,000

Vermillion's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 71 originations, totaling $17,245,000 in origination value.