Vermillion Mortgage Rates & Closing Costs

  • JUMP TO:
  • Trends
  • Rates vs. Fees
  • Top Lenders
  • Market Share
  • Market Conditions & Pricing
  • Time on Market/Property Size
  • Loan Attributes
    • 30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

    30 Year Fixed Rate mortgages in Vermillion averaged 6.82% for the week of 2024-04-18, compared to the national average of 7.1% for the same period.

    The average rate for the prior week (2024-04-11) was 6.9% and one month ago for the week of 2024-03-14, the average rate was 6.36%.

    Vermillion's average rate one year ago was 6.19%.

    For refis of the same type during the week of 2024-04-18, the average rate was 7.7%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2024-04-18 7.1%
    Vermillion 30 Year Fixed Rate 2024-04-18 6.82%
    Vermillion 30 Year Fixed Rate Refi 2024-04-18 7.7%
    Vermillion 15 Year Fixed Rate 2024-04-18 6.49%
    Vermillion 15 Year Fixed Rate Refi 2024-04-18 6.69%
    Vermillion 30 Year FHA 2024-04-18 6.86%
    Vermillion 30 Year FHA Refi 2024-04-18 6.76%
    Vermillion 30 Year USDA 2024-04-18 7.06%
    Vermillion 30 Year USDA Refi 2024-04-18 6.66%
    Vermillion 30 Year VA 2024-04-18 6.66%
    Vermillion 30 Year VA Refi 2024-04-18 6.56%
    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    First Dakota National Bank 18 6.69% $2,450
    Plains Commerce Bank 14 6.60% $6,431
    First Bank & Trust 6 6.75% $4,102
    QUICKEN LOANS, LLC 5 6.60% $7,934
    CU MORTGAGE DIRECT, LLC 3 6.83% $3,272
    CORTRUST MORTGAGE, INC. 3 5.83% $3,284
    First International Bank & Trust 2 6.13% $1,503
    Farm Credit Mid-America, ACA 2 7.13% $5,920
    Reliabank Dakota 2 7.44% $2,280
    Dacotah Bank 2 6.81% $4,167
    West Gate Bank 1 6.50% $5,015
    CMG MORTGAGE, INC. 1 5.99% $4,063
    CROSSCOUNTRY MORTGAGE, LLC 1 7.25% $9,716
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 6.38% $3,257
    First National Bank of Omaha 1 5.88% $2,904
    IOWA BANKERS MORTGAGE CORPORATION 1 5.63% $2,615
    LOANDEPOT.COM, LLC 1 5.63% $11,550
    Northwest Bank 1 5.50% $4,697
    Primebank 1 5.88% $3,937
    American Mortgage & Equity Consultants, Inc. 1 6.88% $7,115

    Vermillion Average Closing Costs & Other Stats

    Vermillion, SD's 20 lenders originated 192 loans during 2023. The total origination value was $33,100,000, with an average loan value of $172,396.

    Vermillion's average closing costs are $4,355.

    The top Vermillion lender as defined by loan originations is First Dakota National Bank, with 18 loans originated. Their average total fees are $2,450, which is $3,981 lower than the next largest lender, Plains Commerce Bank.

    The lowest fee Vermillion lenders (with over 10 loans originated) are First Dakota National Bank ($2,450), Plains Commerce Bank ($6,431), .

    The lowest rate Vermillion lenders (with over 10 loans originated) are Plains Commerce Bank (6.60%), First Dakota National Bank (6.69%), .

    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 2022 Loan Value 2023 Loan Value % Change 2023 Market Share
    First Dakota National Bank $11,780,000 $6,925,000 -41.2% 20.9%
    Plains Commerce Bank $6,885,000 $6,145,000 -10.7% 18.6%
    First Bank & Trust $7,345,000 $2,110,000 -71.3% 6.4%
    QUICKEN LOANS, LLC $1,510,000 $1,700,000 12.6% 5.1%
    PNC Bank $135,000 $1,615,000 1,096.3% 4.9%
    CorTrust Bank $1,255,000 $1,015,000 -19.1% 3.1%
    First PREMIER Bank $1,445,000 $910,000 -37.0% 2.7%
    CU MORTGAGE DIRECT, LLC $1,460,000 $820,000 -43.8% 2.5%
    VOYAGE FEDERAL CREDIT UNION $760,000 n/a 2.3%
    First International Bank & Trust $470,000 $740,000 57.4% 2.2%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $1,015,000 $665,000 -34.5% 2.0%
    MUTUAL OF OMAHA MORTGAGE, INC. $635,000 n/a 1.9%
    CORTRUST MORTGAGE, INC. $2,005,000 $600,000 -70.1% 1.8%
    Bank of Dixon County $590,000 n/a 1.8%
    Farm Credit Mid-America, ACA $305,000 $550,000 80.3% 1.7%
    The Security National Bank of Sioux City, Iowa $5,000 $550,000 10,900.0% 1.7%
    Dacotah Bank $535,000 n/a 1.6%
    Mortgage Research Center, LLC $155,000 $500,000 222.6% 1.5%
    CROSSCOUNTRY MORTGAGE, LLC $560,000 $405,000 -27.7% 1.2%
    Reliabank Dakota $545,000 $405,000 -25.7% 1.2%
    American Mortgage & Equity Consultants, Inc. $305,000 $365,000 19.7% 1.1%
    First National Bank of Omaha $1,110,000 $365,000 -67.1% 1.1%
    Northwest Bank $855,000 $305,000 -64.3% 0.9%
    SERVICE FIRST FEDERAL CREDIT UNION $305,000 $305,000 0.0% 0.9%
    Flanagan State Bank $305,000 $295,000 -3.3% 0.9%
    BMO Harris Bank $270,000 n/a 0.8%
    LOANDEPOT.COM, LLC $195,000 $255,000 30.8% 0.8%
    CMG MORTGAGE, INC. $245,000 n/a 0.7%
    USAA Federal Savings Bank $1,115,000 $245,000 -78.0% 0.7%
    Nebraska Bank of Commerce $240,000 n/a 0.7%
    Central Bank $1,320,000 $225,000 -83.0% 0.7%
    IOWA BANKERS MORTGAGE CORPORATION $215,000 n/a 0.6%
    Western State Bank $215,000 n/a 0.6%
    First Bank of Manhattan $205,000 n/a 0.6%
    Primebank $195,000 n/a 0.6%
    Carrington Mortgage Services, LLC $185,000 n/a 0.6%
    NAVY FEDERAL CREDIT UNION $255,000 $175,000 -31.4% 0.5%
    TRIAD FINANCIAL SERVICES, INC. $640,000 $160,000 -75.0% 0.5%
    West Gate Bank $135,000 n/a 0.4%
    21ST MORTGAGE CORPORATION $510,000 $115,000 -77.5% 0.3%
    BLACK HILLS FEDERAL CREDIT UNION $525,000 $115,000 -78.1% 0.3%
    Flagstar Bank, FSB $45,000 n/a 0.1%
    First Interstate Bank $125,000 $25,000 -80.0% 0.1%
    Premier Bank $225,000 $25,000 -88.9% 0.1%

    Vermillion's top lender by overall market share is First Dakota National Bank, with 20.9% market share. In second place, with 18.6%, is Plains Commerce Bank, having originated $6,145,000 in loans. In third place, with 6.4%, is First Bank & Trust, having originated $2,110,000 in loans. In fourth place, with 5.1%, is QUICKEN LOANS, LLC, having originated $1,700,000 in loans. In fifth place, with 4.9%, is PNC Bank, having originated $1,615,000 in loans.

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

    Realtor.com - Vermillion (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 $150,725 (-18.0%) $173,677 (-7.0%) 0.00 26
    2018-02-01 $179,925 (-1.8%) $203,648 (8.8%) 0.00 28
    2018-03-01 $219,500 (17.6%) $216,027 (10.2%) 0.00 30
    2018-04-01 $225,925 (18.3%) $232,509 (13.2%) 0.00 36
    2018-05-01 $216,425 (22.0%) $223,744 (10.3%) 0.00 30
    2018-06-01 $220,000 (25.7%) $223,461 (11.8%) 0.00 33
    2018-07-01 $225,900 (27.3%) $224,433 (18.5%) 0.00 33
    2018-08-01 $181,150 (1.3%) $199,425 (4.7%) 0.00 35
    2018-09-01 $189,950 (11.8%) $207,871 (14.7%) 0.00 24
    2018-10-01 $179,900 (4.3%) $204,614 (14.8%) 0.00 22
    2018-11-01 $203,725 (30.4%) $225,184 (28.4%) 0.00 20
    2018-12-01 $259,900 (74.4%) $258,347 (47.2%) 0.00 17
    2019-01-01 $254,950 (69.2%) $247,153 (42.3%) 0.00 16
    2019-02-01 $264,450 (47.0%) $253,660 (24.6%) 0.00 23
    2019-03-01 $241,786 (10.2%) $245,136 (13.5%) 0.00 25
    2019-04-01 $227,011 (0.5%) $238,918 (2.8%) 0.00 26
    2019-05-01 $183,700 (-15.1%) $199,676 (-10.8%) 0.00 24
    2019-06-01 $189,900 (-13.7%) $224,406 (0.4%) 0.00 31
    2019-07-01 $184,950 (-18.1%) $207,916 (-7.4%) 0.00 36
    2019-08-01 $178,108 (-1.7%) $203,425 (2.0%) 0.00 36
    2019-09-01 $167,919 (-11.6%) $208,409 (0.3%) 0.00 34
    2019-10-01 $161,127 (-10.4%) $211,829 (3.5%) 0.00 32
    2019-11-01 $159,948 (-21.5%) $216,159 (-4.0%) 0.00 30
    2019-12-01 $154,500 (-40.6%) $225,688 (-12.6%) 0.00 26
    2020-01-01 $156,950 (-38.4%) $238,896 (-3.3%) 0.00 23
    2020-02-01 $139,900 (-47.1%) $209,074 (-17.6%) 0.00 27
    2020-03-01 $159,450 (-34.1%) $220,990 (-9.9%) 0.00 26
    2020-04-01 $158,675 (-30.1%) $237,158 (-0.7%) 0.00 27
    2020-05-01 $199,900 (8.8%) $255,561 (28.0%) 0.00 28
    2020-06-01 $198,675 (4.6%) $260,713 (16.2%) 0.00 29
    2020-07-01 $196,225 (6.1%) $273,595 (31.6%) 0.00 29
    2020-08-01 $189,900 (6.6%) $284,648 (39.9%) 0.00 24
    2020-09-01 $181,925 (8.3%) $283,441 (36.0%) 0.00 24
    2020-10-01 $179,000 (11.1%) $286,787 (35.4%) 0.00 25
    2020-11-01 $169,900 (6.2%) $230,993 (6.9%) 0.00 27
    2020-12-01 $236,175 (52.9%) $305,567 (35.4%) 0.00 17
    2021-01-01 $289,900 (84.7%) $323,650 (35.5%) 0.00 14
    2021-02-01 $279,900 (100.1%) $323,506 (54.7%) 0.00 14
    2021-03-01 $198,675 (24.6%) $276,535 (25.1%) 0.00 14
    2021-04-01 $231,450 (45.9%) $368,735 (55.5%) 0.00 14
    2021-05-01 $199,900 (0.0%) $333,105 (30.3%) 0.00 19
    2021-06-01 $253,750 (27.7%) $331,083 (27.0%) 0.00 21
    2021-07-01 $230,000 (17.2%) $288,243 (5.4%) 0.00 24
    2021-08-01 $217,400 (14.5%) $282,369 (-0.8%) 0.00 22
    2021-09-01 $219,450 (20.6%) $297,570 (5.0%) 0.00 18
    2021-10-01 $235,000 (31.3%) $300,704 (4.9%) 0.00 17
    2021-11-01 $200,725 (18.1%) $290,479 (25.8%) 0.00 18
    2021-12-01 $230,925 (-2.2%) $309,238 (1.2%) 0.00 17
    2022-01-01 $254,950 (-12.1%) $331,681 (2.5%) 0.00 14
    2022-02-01 $274,900 (-1.8%) $285,496 (-11.8%) 0.00 10
    2022-03-01 $242,450 (22.0%) $371,326 (34.3%) 0.00 10
    2022-04-01 $335,000 (44.7%) $489,288 (32.7%) 0.00 12
    2022-05-01 $368,675 (84.4%) $541,042 (62.4%) 0.00 12
    2022-06-01 $382,400 (50.7%) $524,387 (58.4%) 0.00 16
    2022-07-01 $275,000 (19.6%) $454,043 (57.5%) 0.00 19
    2022-08-01 $215,350 (-0.9%) $336,849 (19.3%) 0.00 27
    2022-09-01 $224,900 (2.5%) $374,251 (25.8%) 0.00 32
    2022-10-01 $234,900 (0.0%) $341,439 (13.6%) 0.00 27
    2022-11-01 $255,000 (27.0%) $360,824 (24.2%) 0.00 20
    2022-12-01 $260,000 (12.6%) $379,200 (22.6%) 0.00 17
    2023-01-01 $271,225 (6.4%) $257,364 (-22.4%) 0.00 15
    2023-02-01 $274,950 (0.0%) $269,630 (-5.6%) 0.00 10
    2023-03-01 $250,000 (3.1%) $259,128 (-30.2%) 0.00 10
    2023-04-01 $199,900 (-40.3%) $264,150 (-46.0%) 0.00 11
    2023-05-01 $215,000 (-41.7%) $259,208 (-52.1%) 0.00 19
    2023-06-01 $239,750 (-37.3%) $261,937 (-50.1%) 0.00 24
    2023-07-01 $237,540 (-13.6%) $271,515 (-40.2%) 0.00 20
    2023-08-01 $247,200 (14.8%) $278,637 (-17.3%) 0.00 18
    2023-09-01 $295,000 (31.2%) $316,300 (-15.5%) 0.00 17
    2023-10-01 $286,250 (21.9%) $323,456 (-5.3%) 0.00 16
    2023-11-01 $303,225 (18.9%) $336,899 (-6.6%) 0.00 17
    2023-12-01 $314,900 (21.1%) $329,137 (-13.2%) 0.00 16
    2024-01-01 $355,550 (31.1%) $371,377 (44.3%) 0.00 12
    2024-02-01 $325,600 (18.4%) $345,614 (28.2%) 0.00 16
    2024-03-01 $312,450 (25.0%) $330,275 (27.5%) 0.00 15
    Vermillion's median listing price for 2024-03-01 was $312,450, a difference of $62,450 (25.0%) versus the prior year and $-13,150 versus the prior month.

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

    Vermillion's average listing price for 2024-03-01 was $330,275, a difference of $71,147 (27.5%) versus the prior year and $-15,339 versus the prior month.

    For the 2024-03-01 period, Vermillion had 15 MLS listings, a difference of -1 listings (-6%) versus the prior month and 5 listings (50%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Vermillion (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 1,920 sqft
    2018-02-01 0 days 2,216 sqft
    2018-03-01 0 days 2,460 sqft
    2018-04-01 0 days 2,460 sqft
    2018-05-01 0 days 2,402 sqft
    2018-06-01 0 days 2,415 sqft
    2018-07-01 0 days 2,373 sqft
    2018-08-01 0 days 2,105 sqft
    2018-09-01 0 days 2,109 sqft
    2018-10-01 0 days 2,108 sqft
    2018-11-01 0 days 2,170 sqft
    2018-12-01 0 days 2,694 sqft
    2019-01-01 0 days 2,480 sqft
    2019-02-01 0 days 2,549 sqft
    2019-03-01 0 days 2,172 sqft
    2019-04-01 0 days 1,803 sqft
    2019-05-01 0 days 1,912 sqft
    2019-06-01 0 days 1,901 sqft
    2019-07-01 0 days 1,846 sqft
    2019-08-01 0 days 1,824 sqft
    2019-09-01 0 days 1,800 sqft
    2019-10-01 0 days 1,782 sqft
    2019-11-01 0 days 1,758 sqft
    2019-12-01 0 days 1,693 sqft
    2020-01-01 0 days 1,532 sqft
    2020-02-01 0 days 1,474 sqft
    2020-03-01 0 days 1,516 sqft
    2020-04-01 0 days 1,524 sqft
    2020-05-01 0 days 1,540 sqft
    2020-06-01 0 days 1,798 sqft
    2020-07-01 0 days 1,944 sqft
    2020-08-01 0 days 1,825 sqft
    2020-09-01 0 days 1,836 sqft
    2020-10-01 0 days 1,846 sqft
    2020-11-01 0 days 1,830 sqft
    2020-12-01 0 days 1,874 sqft
    2021-01-01 0 days 2,133 sqft
    2021-02-01 0 days 2,340 sqft
    2021-03-01 0 days 2,354 sqft
    2021-04-01 0 days 2,318 sqft
    2021-05-01 0 days 2,252 sqft
    2021-06-01 0 days 2,252 sqft
    2021-07-01 0 days 2,167 sqft
    2021-08-01 0 days 2,015 sqft
    2021-09-01 0 days 2,195 sqft
    2021-10-01 0 days 1,825 sqft
    2021-11-01 0 days 1,609 sqft
    2021-12-01 0 days 1,741 sqft
    2022-01-01 0 days 1,560 sqft
    2022-02-01 0 days 2,314 sqft
    2022-03-01 0 days 1,539 sqft
    2022-04-01 0 days 1,800 sqft
    2022-05-01 0 days 1,645 sqft
    2022-06-01 0 days 2,313 sqft
    2022-07-01 0 days 1,822 sqft
    2022-08-01 0 days 1,697 sqft
    2022-09-01 0 days 1,689 sqft
    2022-10-01 0 days 1,728 sqft
    2022-11-01 0 days 1,740 sqft
    2022-12-01 0 days 1,760 sqft
    2023-01-01 0 days 2,264 sqft
    2023-02-01 0 days 2,262 sqft
    2023-03-01 0 days 2,033 sqft
    2023-04-01 0 days 1,947 sqft
    2023-05-01 0 days 2,044 sqft
    2023-06-01 0 days 1,948 sqft
    2023-07-01 0 days 1,728 sqft
    2023-08-01 0 days 1,635 sqft
    2023-09-01 0 days 1,752 sqft
    2023-10-01 0 days 2,065 sqft
    2023-11-01 0 days 2,014 sqft
    2023-12-01 0 days 1,958 sqft
    2024-01-01 0 days 2,131 sqft
    2024-02-01 0 days 2,121 sqft
    2024-03-01 0 days 2,079 sqft
    Vermillion's median listing age (time on market) for 2024-03-01 was 0 days.

    Vermillion's median square footage for active listings during the 2024-03-01 period was 2,079 sqft. One year prior, the average listing was 2,033 sqft.

    Vermillion, SD Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 124 $25,360,000 $204,516
    Cash Out Refi 20 $2,890,000 $144,500
    Home Improvement 19 $935,000 $49,211
    Refi 15 $2,935,000 $195,667
    Other 14 $980,000 $70,000

    Vermillion's most frequently cited loan purpose was Home Purchase, with 124 originations. The 2nd most popular reason was Cash Out Refi, with 20 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    6-7% 63 $13,855,000 $219,921
    7-8% 33 $6,395,000 $193,788
    5-6% 30 $7,410,000 $247,000
    Over 8% 30 $1,750,000 $58,333

    During 2023, Vermillion's most frequently originated rate bucket was 6-7%, with 63 originations.

    Loan Sizing (Vermillion, SD MSA)

    Loan Size Originations Total Value Average Loan
    $100,000 or less 74 $3,610,000 $48,784
    $200k-400k 58 $15,530,000 $267,759
    $100k-200k 50 $7,780,000 $155,600
    $400k-600k 7 $2,965,000 $423,571
    $600k-1000k 2 $1,600,000 $800,000
    $Over $1MM 1 $1,615,000 $1,615,000

    Vermillion's loan sizing saw the bucket of loans from $100,000 or less with 74 originations, totaling $3,610,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 67 $15,145,000 $226,045
    60-80% 28 $6,690,000 $238,929
    Under 20% 22 $900,000 $40,909
    40-60% 17 $4,355,000 $256,176
    20-40% 13 $865,000 $66,538
    Over 100% 5 $1,295,000 $259,000

    Vermillion's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 67 originations, totaling $15,145,000 in origination value.