Watertown Mortgage Rates & Closing Costs

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

    30 Year Fixed Rate mortgages in Watertown averaged 6.57% for the week of 2025-04-03, compared to the national average of 6.64% for the same period.

    The average rate for the prior week (2025-03-27) was 6.28% and one month ago for the week of 2025-02-27, the average rate was 6.69%.

    Watertown's average rate one year ago was 6.82%.

    For refis of the same type during the week of 2025-04-03, the average rate was 6.74%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2025-04-03 6.64%
    Watertown 30 Year Fixed Rate 2025-04-03 6.57%
    Watertown 30 Year Fixed Rate Refi 2025-04-03 6.74%
    Watertown 15 Year Fixed Rate 2025-04-03 6.02%
    Watertown 15 Year Fixed Rate Refi 2025-04-03 6.02%
    Watertown 30 Year FHA 2025-04-03 6.1%
    Watertown 30 Year FHA Refi 2025-04-03 6.16%
    Watertown 30 Year USDA 2025-04-03 6.22%
    Watertown 30 Year USDA Refi 2025-04-03 6.22%
    Watertown 30 Year VA 2025-04-03 5.86%
    Watertown 30 Year VA Refi 2025-04-03 6.26%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Watertown, SD.

    Watertown 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 Watertown, 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 Bank & Trust 39 6.18% $5,053
    American Bank & Trust 33 6.43% $4,169
    Plains Commerce Bank 29 6.42% $6,286
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 29 6.68% $4,955
    First PREMIER Bank 24 6.32% $4,055
    Dacotah Bank 19 6.63% $4,429
    Reliabank Dakota 14 6.66% $5,200
    GUARANTEED RATE, INC. 11 6.50% $4,534
    QUICKEN LOANS, LLC 9 6.98% $6,746
    Wells Fargo Bank 5 6.20% $5,270
    First Interstate Bank 5 6.63% $3,500
    First National Bank of Omaha 2 6.56% $4,121
    First International Bank & Trust 2 7.13% $3,540
    NEWREZ LLC 2 7.88% $3,874
    Flagstar Bank, FSB 2 7.13% $627
    U.S. Bank 2 6.88% $8,523
    Farm Credit Mid-America, ACA 2 6.94% $8,158
    HOMEOWNERS FINANCIAL GROUP USA, LLC 1 6.13% $7,381
    EMBRACE HOME LOANS, INC. 1 7.88% $3,914
    NAVY FEDERAL CREDIT UNION 1 6.25% $1,702
    CORTRUST MORTGAGE, INC. 1 7.13% $7,691
    BLACK HILLS FEDERAL CREDIT UNION 1 5.75% $8,789
    BANKWEST, INC. 1 7.50% $7,410
    SIOUX FALLS 1 6.50% $5,197
    Summit Mortgage Corporation 1 6.88% $9,901
    IOWA BANKERS MORTGAGE CORPORATION 1 6.38% $4,968
    First Federal Bank 1 6.50% $3,280
    AMERICAN FINANCING CORPORATION 1 6.50% $18,620
    DAS Acquisition Company, LLC 1 7.49% $2,724
    Florida Capital Bank 1 6.50% $7,098
    CU MORTGAGE DIRECT, LLC 1 6.75% $5,200

    Watertown Average Closing Costs & Other Stats

    Watertown, SD's 31 lenders originated 657 loans during 2024. The total origination value was $147,065,000, with an average loan value of $223,843.

    Watertown's average closing costs are $4,860.

    The top Watertown lender as defined by loan originations is First Bank & Trust, with 39 loans originated. Their average total fees are $5,053, which is $884 higher than the next largest lender, American Bank & Trust.

    The lowest fee Watertown lenders (with over 10 loans originated) are First PREMIER Bank ($4,055), American Bank & Trust ($4,169), Dacotah Bank ($4,429), GUARANTEED RATE, INC. ($4,534) and FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($4,955).

    The lowest rate Watertown lenders (with over 10 loans originated) are First Bank & Trust (6.18%), First PREMIER Bank (6.32%), Plains Commerce Bank (6.42%), American Bank & Trust (6.43%) and GUARANTEED RATE, INC. (6.50%).

    Watertown, 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 $13,320,000 $20,490,000 53.8% 13.9%
    Plains Commerce Bank $9,595,000 $18,530,000 93.1% 12.6%
    First PREMIER Bank $13,240,000 $16,545,000 25.0% 11.3%
    American Bank & Trust $20,130,000 $16,075,000 -20.1% 10.9%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $11,235,000 $12,425,000 10.6% 8.4%
    Dacotah Bank $11,885,000 $10,050,000 -15.4% 6.8%
    Reliabank Dakota $4,105,000 $9,025,000 119.9% 6.1%
    GUARANTEED RATE, INC. $2,405,000 $6,620,000 175.3% 4.5%
    QUICKEN LOANS, LLC $4,400,000 $4,615,000 4.9% 3.1%
    First Interstate Bank $2,475,000 $3,620,000 46.3% 2.5%
    Bell Bank $1,780,000 $2,265,000 27.2% 1.5%
    U.S. Bank $130,000 $1,675,000 1,188.5% 1.1%
    Farm Credit Mid-America, ACA $125,000 $1,590,000 1,172.0% 1.1%
    LAKEVIEW LOAN SERVICING, LLC $185,000 $1,470,000 694.6% 1.0%
    Mortgage Research Center, LLC $2,120,000 $1,360,000 -35.8% 0.9%
    Wells Fargo Bank $760,000 $1,350,000 77.6% 0.9%
    First International Bank & Trust $1,115,000 $1,290,000 15.7% 0.9%
    PLANET HOME LENDING, LLC $1,105,000 n/a 0.8%
    CU MORTGAGE DIRECT, LLC $340,000 $1,065,000 213.2% 0.7%
    NEWREZ LLC $965,000 n/a 0.7%
    The First National Bank in Sioux Falls $680,000 $950,000 39.7% 0.6%
    CMG MORTGAGE, INC. $750,000 n/a 0.5%
    BANKWEST, INC. $305,000 $685,000 124.6% 0.5%
    Flagstar Bank, FSB $265,000 $620,000 134.0% 0.4%
    Summit Mortgage Corporation $520,000 $605,000 16.3% 0.4%
    BLACK HILLS FEDERAL CREDIT UNION $1,020,000 $560,000 -45.1% 0.4%
    Security National Bank of South Dakota $555,000 n/a 0.4%
    AgCountry Farm Credit Services, FLCA $935,000 $545,000 -41.7% 0.4%
    OceanFirst Bank $535,000 n/a 0.4%
    First National Bank of Omaha $530,000 n/a 0.4%
    NAVY FEDERAL CREDIT UNION $455,000 $480,000 5.5% 0.3%
    PENNYMAC LOAN SERVICES, LLC $785,000 $475,000 -39.5% 0.3%
    MUTUAL OF OMAHA MORTGAGE, INC. $460,000 n/a 0.3%
    DAS Acquisition Company, LLC $445,000 n/a 0.3%
    AMERICAN FINANCING CORPORATION $435,000 n/a 0.3%
    CORTRUST MORTGAGE, INC. $405,000 n/a 0.3%
    SIOUX FALLS $550,000 $395,000 -28.2% 0.3%
    First Federal Bank $385,000 n/a 0.3%
    VOYAGE FEDERAL CREDIT UNION $455,000 $355,000 -22.0% 0.2%
    Mr. Cooper ( Nationstar Mortgage ) $420,000 $350,000 -16.7% 0.2%
    EMBRACE HOME LOANS, INC. $335,000 n/a 0.2%
    NEW DAY FINANCIAL, LLC $315,000 n/a 0.2%
    HOMEBRIDGE FINANCIAL SERVICES, INC. $305,000 n/a 0.2%
    HOMESIDE FINANCIAL, LLC $295,000 n/a 0.2%
    AmeriHome Mortgage Company, LLC $285,000 n/a 0.2%
    IOWA BANKERS MORTGAGE CORPORATION $285,000 n/a 0.2%
    FREEDOM MORTGAGE CORPORATION $205,000 $265,000 29.3% 0.2%
    Heritage Bank $475,000 $265,000 -44.2% 0.2%
    Arvest Bank $245,000 n/a 0.2%
    TRIAD FINANCIAL SERVICES, INC. $80,000 $230,000 187.5% 0.2%
    RESIDENTIAL BANCORP $210,000 n/a 0.1%
    Florida Capital Bank $195,000 n/a 0.1%
    Bank of America $75,000 $165,000 120.0% 0.1%
    HOMEOWNERS FINANCIAL GROUP USA, LLC $145,000 n/a 0.1%
    Servion, Inc. $1,025,000 $125,000 -87.8% 0.1%
    CorTrust Bank $110,000 n/a 0.1%
    Citizens Bank $295,000 $105,000 -64.4% 0.1%
    21ST MORTGAGE CORPORATION $80,000 $75,000 -6.3% 0.1%
    Figure Lending LLC $70,000 n/a 0.0%
    BROKER SOLUTIONS, INC. $200,000 $65,000 -67.5% 0.0%
    Discover Bank $290,000 $55,000 -81.0% 0.0%
    Coastal Community Bank $40,000 $40,000 0.0% 0.0%
    MID AMERICA MORTGAGE, INC. $35,000 n/a 0.0%
    Minnwest Bank $35,000 n/a 0.0%
    AMERISAVE MORTGAGE CORPORATION $340,000 $25,000 -92.6% 0.0%

    Watertown's top lender by overall market share is First Bank & Trust, with 13.9% market share. In second place, with 12.6%, is Plains Commerce Bank, having originated $18,530,000 in loans. In third place, with 11.3%, is First PREMIER Bank, having originated $16,545,000 in loans. In fourth place, with 10.9%, is American Bank & Trust, having originated $16,075,000 in loans. In fifth place, with 8.4%, is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, having originated $12,425,000 in loans.

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

    Realtor.com - Watertown (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 $236,950 (4.2%) $254,999 (3.4%) 0.00 144
    2018-02-01 $234,900 (2.6%) $254,898 (1.4%) 0.00 149
    2018-03-01 $239,000 (8.2%) $260,814 (4.9%) 0.00 160
    2018-04-01 $244,900 (16.7%) $266,369 (10.5%) 0.00 158
    2018-05-01 $244,600 (17.9%) $261,188 (8.4%) 0.00 165
    2018-06-01 $253,900 (12.1%) $273,440 (6.7%) 0.00 157
    2018-07-01 $242,400 (5.4%) $258,672 (0.3%) 0.00 163
    2018-08-01 $240,550 (5.4%) $256,101 (0.5%) 0.00 161
    2018-09-01 $234,900 (2.2%) $252,686 (-2.4%) 0.00 149
    2018-10-01 $234,900 (3.2%) $246,897 (-4.8%) 0.00 143
    2018-11-01 $229,400 (4.4%) $243,616 (-0.7%) 0.00 145
    2018-12-01 $233,000 (5.5%) $243,618 (-2.5%) 0.00 133
    2019-01-01 $227,500 (-4.0%) $240,249 (-5.8%) 0.00 127
    2019-02-01 $219,950 (-6.4%) $231,973 (-9.0%) 0.00 129
    2019-03-01 $229,779 (-3.9%) $237,893 (-8.8%) 0.00 133
    2019-04-01 $235,004 (-4.0%) $243,157 (-8.7%) 0.00 137
    2019-05-01 $234,400 (-4.2%) $241,084 (-7.7%) 0.00 159
    2019-06-01 $232,900 (-8.3%) $243,148 (-11.1%) 0.00 171
    2019-07-01 $229,900 (-5.2%) $241,497 (-6.6%) 0.00 181
    2019-08-01 $226,355 (-5.9%) $238,522 (-6.9%) 0.00 178
    2019-09-01 $221,036 (-5.9%) $234,963 (-7.0%) 0.00 173
    2019-10-01 $216,900 (-7.7%) $231,871 (-6.1%) 0.00 166
    2019-11-01 $209,000 (-8.9%) $228,673 (-6.1%) 0.00 154
    2019-12-01 $211,950 (-9.0%) $233,228 (-4.3%) 0.00 125
    2020-01-01 $224,225 (-1.4%) $243,841 (1.5%) 0.00 113
    2020-02-01 $229,900 (4.5%) $245,524 (5.8%) 0.00 125
    2020-03-01 $227,400 (-1.0%) $244,066 (2.6%) 0.00 121
    2020-04-01 $221,950 (-5.6%) $247,491 (1.8%) 0.00 131
    2020-05-01 $219,900 (-6.2%) $245,443 (1.8%) 0.00 143
    2020-06-01 $241,150 (3.5%) $261,163 (7.4%) 0.00 152
    2020-07-01 $257,400 (12.0%) $268,813 (11.3%) 0.00 138
    2020-08-01 $249,900 (10.4%) $266,347 (11.7%) 0.00 116
    2020-09-01 $229,800 (4.0%) $266,424 (13.4%) 0.00 118
    2020-10-01 $224,900 (3.7%) $264,213 (14.0%) 0.00 112
    2020-11-01 $217,900 (4.3%) $263,851 (15.4%) 0.00 98
    2020-12-01 $234,925 (10.8%) $280,056 (20.1%) 0.00 82
    2021-01-01 $234,900 (4.8%) $278,522 (14.2%) 0.00 75
    2021-02-01 $242,425 (5.5%) $296,119 (20.6%) 0.00 61
    2021-03-01 $266,450 (17.2%) $316,335 (29.6%) 0.00 67
    2021-04-01 $312,400 (40.8%) $330,383 (33.5%) 0.00 85
    2021-05-01 $339,900 (54.6%) $338,807 (38.0%) 0.00 86
    2021-06-01 $349,950 (45.1%) $368,794 (41.2%) 0.00 88
    2021-07-01 $379,900 (47.6%) $375,123 (39.6%) 0.00 91
    2021-08-01 $356,175 (42.5%) $365,208 (37.1%) 0.00 96
    2021-09-01 $339,900 (47.9%) $348,960 (31.0%) 0.00 93
    2021-10-01 $339,900 (51.1%) $333,028 (26.1%) 0.00 80
    2021-11-01 $339,900 (56.0%) $330,641 (25.3%) 0.00 69
    2021-12-01 $339,900 (44.7%) $317,682 (13.4%) 0.00 59
    2022-01-01 $339,900 (44.7%) $331,765 (19.1%) 0.00 46
    2022-02-01 $339,900 (40.2%) $331,973 (12.1%) 0.00 49
    2022-03-01 $339,900 (27.6%) $329,877 (4.3%) 0.00 47
    2022-04-01 $339,900 (8.8%) $307,445 (-6.9%) 0.00 50
    2022-05-01 $343,650 (1.1%) $366,726 (8.2%) 0.00 69
    2022-06-01 $364,900 (4.3%) $375,807 (1.9%) 0.00 73
    2022-07-01 $349,900 (-7.9%) $374,915 (-0.1%) 0.00 78
    2022-08-01 $359,900 (1.1%) $394,425 (8.0%) 0.00 68
    2022-09-01 $374,900 (10.3%) $393,929 (12.9%) 0.00 77
    2022-10-01 $339,900 (0.0%) $362,497 (8.9%) 0.00 67
    2022-11-01 $329,900 (-2.9%) $351,933 (6.4%) 0.00 61
    2022-12-01 $319,900 (-5.9%) $347,692 (9.5%) 0.00 53
    2023-01-01 $339,900 (0.0%) $355,925 (7.3%) 0.00 48
    2023-02-01 $339,900 (0.0%) $347,925 (4.8%) 0.00 40
    2023-03-01 $357,400 (5.2%) $386,860 (17.3%) 0.00 39
    2023-04-01 $375,900 (10.6%) $431,407 (40.3%) 0.00 48
    2023-05-01 $372,650 (8.4%) $434,779 (18.6%) 0.00 67
    2023-06-01 $369,900 (1.4%) $423,654 (12.7%) 0.00 72
    2023-07-01 $377,000 (7.8%) $441,628 (17.8%) 0.00 67
    2023-08-01 $387,400 (7.6%) $441,601 (12.0%) 0.00 71
    2023-09-01 $364,900 (-2.7%) $428,286 (8.7%) 0.00 85
    2023-10-01 $350,650 (3.2%) $417,177 (15.1%) 0.00 87
    2023-11-01 $350,425 (6.2%) $400,753 (13.9%) 0.00 84
    2023-12-01 $354,900 (10.9%) $396,338 (14.0%) 0.00 82
    2024-01-01 $364,900 (7.4%) $397,867 (11.8%) 0.00 69
    2024-02-01 $381,150 (12.1%) $396,488 (14.0%) 0.00 67
    2024-03-01 $374,900 (4.9%) $412,269 (6.6%) 0.00 53
    2024-04-01 $394,900 (5.1%) $428,743 (-0.6%) 0.00 63
    2024-05-01 $376,900 (1.1%) $397,449 (-8.6%) 0.00 70
    2024-06-01 $367,000 (-0.8%) $389,208 (-8.1%) 0.00 76
    2024-07-01 $345,700 (-8.3%) $383,881 (-13.1%) 0.00 91
    2024-08-01 $359,900 (-7.1%) $399,348 (-9.6%) 0.00 93
    2024-09-01 $364,450 (-0.1%) $401,484 (-6.3%) 0.00 94
    2024-10-01 $367,450 (4.8%) $407,430 (-2.3%) 0.00 100
    2024-11-01 $359,900 (2.7%) $402,096 (0.3%) 0.00 95
    2024-12-01 $357,400 (0.7%) $399,307 (0.8%) 0.00 78
    2025-01-01 $359,975 (-1.4%) $411,336 (3.4%) 0.00 63
    2025-02-01 $369,900 (-3.0%) $440,148 (11.0%) 0.00 71
    2025-03-01 $370,000 (-1.3%) $441,983 (7.2%) 0.00 76
    Watertown's median listing price for 2025-03-01 was $370,000, a difference of $-4,900 (-1.3%) versus the prior year and $100 versus the prior month.

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

    Watertown's average listing price for 2025-03-01 was $441,983, a difference of $29,714 (7.2%) versus the prior year and $1,835 versus the prior month.

    For the 2025-03-01 period, Watertown had 76 MLS listings, a difference of 5 listings (7%) versus the prior month and 23 listings (43%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Watertown (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,354 sqft
    2018-02-01 0 days 2,390 sqft
    2018-03-01 0 days 2,416 sqft
    2018-04-01 0 days 2,491 sqft
    2018-05-01 0 days 2,516 sqft
    2018-06-01 0 days 2,531 sqft
    2018-07-01 0 days 2,420 sqft
    2018-08-01 0 days 2,352 sqft
    2018-09-01 0 days 2,358 sqft
    2018-10-01 0 days 2,296 sqft
    2018-11-01 0 days 2,358 sqft
    2018-12-01 0 days 2,358 sqft
    2019-01-01 0 days 2,304 sqft
    2019-02-01 0 days 2,277 sqft
    2019-03-01 0 days 2,315 sqft
    2019-04-01 0 days 2,372 sqft
    2019-05-01 0 days 2,346 sqft
    2019-06-01 0 days 2,283 sqft
    2019-07-01 0 days 2,280 sqft
    2019-08-01 0 days 2,227 sqft
    2019-09-01 0 days 2,220 sqft
    2019-10-01 0 days 2,214 sqft
    2019-11-01 0 days 2,170 sqft
    2019-12-01 0 days 2,195 sqft
    2020-01-01 0 days 2,243 sqft
    2020-02-01 0 days 2,242 sqft
    2020-03-01 0 days 2,196 sqft
    2020-04-01 0 days 2,172 sqft
    2020-05-01 0 days 2,179 sqft
    2020-06-01 0 days 2,390 sqft
    2020-07-01 0 days 2,439 sqft
    2020-08-01 0 days 2,424 sqft
    2020-09-01 0 days 2,348 sqft
    2020-10-01 0 days 2,280 sqft
    2020-11-01 0 days 2,265 sqft
    2020-12-01 0 days 2,278 sqft
    2021-01-01 0 days 2,148 sqft
    2021-02-01 0 days 2,344 sqft
    2021-03-01 0 days 2,295 sqft
    2021-04-01 0 days 2,114 sqft
    2021-05-01 0 days 1,753 sqft
    2021-06-01 0 days 1,773 sqft
    2021-07-01 0 days 1,742 sqft
    2021-08-01 0 days 1,790 sqft
    2021-09-01 0 days 1,746 sqft
    2021-10-01 0 days 1,731 sqft
    2021-11-01 0 days 1,731 sqft
    2021-12-01 0 days 1,697 sqft
    2022-01-01 0 days 1,731 sqft
    2022-02-01 0 days 1,731 sqft
    2022-03-01 0 days 1,731 sqft
    2022-04-01 0 days 1,731 sqft
    2022-05-01 0 days 1,731 sqft
    2022-06-01 0 days 1,783 sqft
    2022-07-01 0 days 1,926 sqft
    2022-08-01 0 days 2,345 sqft
    2022-09-01 0 days 2,537 sqft
    2022-10-01 0 days 2,232 sqft
    2022-11-01 0 days 2,013 sqft
    2022-12-01 0 days 2,004 sqft
    2023-01-01 0 days 1,901 sqft
    2023-02-01 0 days 1,731 sqft
    2023-03-01 0 days 1,756 sqft
    2023-04-01 0 days 1,940 sqft
    2023-05-01 0 days 2,199 sqft
    2023-06-01 0 days 1,878 sqft
    2023-07-01 0 days 2,009 sqft
    2023-08-01 0 days 1,552 sqft
    2023-09-01 0 days 1,558 sqft
    2023-10-01 0 days 1,501 sqft
    2023-11-01 0 days 1,477 sqft
    2023-12-01 0 days 1,525 sqft
    2024-01-01 0 days 1,525 sqft
    2024-02-01 0 days 1,525 sqft
    2024-03-01 0 days 1,552 sqft
    2024-04-01 0 days 1,544 sqft
    2024-05-01 0 days 1,510 sqft
    2024-06-01 0 days 1,427 sqft
    2024-07-01 0 days 1,427 sqft
    2024-08-01 0 days 1,991 sqft
    2024-09-01 0 days 1,974 sqft
    2024-10-01 0 days 1,976 sqft
    2024-11-01 0 days 1,977 sqft
    2024-12-01 0 days 1,932 sqft
    2025-01-01 0 days 1,909 sqft
    2025-02-01 0 days 1,867 sqft
    2025-03-01 0 days 1,872 sqft
    Watertown's median listing age (time on market) for 2025-03-01 was 0 days.

    Watertown's median square footage for active listings during the 2025-03-01 period was 1,872 sqft. One year prior, the average listing was 1,552 sqft.

    Watertown, SD Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 386 $97,530,000 $252,668
    Refi 99 $26,645,000 $269,141
    Home Improvement 76 $7,530,000 $99,079
    Cash Out Refi 51 $11,235,000 $220,294
    Other 45 $4,125,000 $91,667

    Watertown's most frequently cited loan purpose was Home Purchase, with 386 originations. The 2nd most popular reason was Refi, with 99 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    6-7% 257 $66,455,000 $258,580
    Over 8% 144 $18,140,000 $125,972
    5-6% 125 $31,335,000 $250,680
    7-8% 110 $26,810,000 $243,727
    4-5% 11 $1,905,000 $173,182
    2.5-3% 2 $50,000 $25,000

    During 2024, Watertown's most frequently originated rate bucket was 6-7%, with 257 originations.

    Loan Sizing (Watertown, SD MSA)

    Loan Size Originations Total Value Average Loan
    $200k-400k 231 $64,935,000 $281,104
    $100k-200k 202 $30,310,000 $150,050
    $100,000 or less 154 $8,080,000 $52,468
    $400k-600k 46 $21,570,000 $468,913
    $600k-1000k 17 $12,285,000 $722,647
    $Over $1MM 7 $9,885,000 $1,412,143

    Watertown's loan sizing saw the bucket of loans from $200k-400k with 231 originations, totaling $64,935,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 249 $66,945,000 $268,855
    60-80% 130 $37,360,000 $287,385
    Under 20% 108 $8,090,000 $74,907
    20-40% 92 $13,300,000 $144,565
    40-60% 62 $15,730,000 $253,710
    Over 100% 5 $2,435,000 $487,000

    Watertown's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 249 originations, totaling $66,945,000 in origination value.