Vermillion Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Vermillion 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
6.58% and
one month ago for the week of 2025-06-05, the
average rate was 6.96%.
Vermillion's average rate one year ago was 6.96%.
For refis of the same type during the week of 2025-07-10, the average rate
was 7.02%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2025-07-10 | 6.72% |
| Vermillion 30 Year Fixed Rate | 2025-07-10 | 6.73% |
| Vermillion 30 Year Fixed Rate Refi | 2025-07-10 | 7.02% |
| Vermillion 15 Year Fixed Rate | 2025-07-10 | 5.76% |
| Vermillion 15 Year Fixed Rate Refi | 2025-07-10 | 6.16% |
| Vermillion 30 Year FHA | 2025-07-10 | 6.52% |
| Vermillion 30 Year FHA Refi | 2025-07-10 | 6.82% |
| Vermillion 30 Year USDA | 2025-07-10 | 6.65% |
| Vermillion 30 Year USDA Refi | 2025-07-10 | 6.45% |
| Vermillion 30 Year VA | 2025-07-10 | 6.17% |
| Vermillion 30 Year VA Refi | 2025-07-10 | 6.47% |
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.).
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.