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 6.87% for the week of 2025-02-13, compared to the national average of 6.87% for the same period.

    The average rate for the prior week (2025-02-06) was 6.59% and one month ago for the week of 2025-01-09, the average rate was 6.73%.

    Watertown's average rate one year ago was 6.34%.

    For refis of the same type during the week of 2025-02-13, the average rate was 7.47%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2025-02-13 6.87%
    Watertown 30 Year Fixed Rate 2025-02-13 6.87%
    Watertown 30 Year Fixed Rate Refi 2025-02-13 7.47%
    Watertown 15 Year Fixed Rate 2025-02-13 6.09%
    Watertown 15 Year Fixed Rate Refi 2025-02-13 5.99%
    Watertown 30 Year FHA 2025-02-13 6.42%
    Watertown 30 Year FHA Refi 2025-02-13 6.42%
    Watertown 30 Year USDA 2025-02-13 6.33%
    Watertown 30 Year USDA Refi 2025-02-13 6.63%
    Watertown 30 Year VA 2025-02-13 6.53%
    Watertown 30 Year VA Refi 2025-02-13 6.23%
    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 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    American Bank & Trust 26 6.57% $4,924
    First PREMIER Bank 23 6.81% $3,486
    Dacotah Bank 23 6.29% $3,416
    First Bank & Trust 21 6.58% $5,527
    Plains Commerce Bank 18 6.49% $4,389
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 16 7.01% $4,985
    Reliabank Dakota 10 6.50% $4,477
    QUICKEN LOANS, LLC 7 6.62% $7,555
    GUARANTEED RATE, INC. 4 7.18% $4,621
    CHURCHILL MORTGAGE CORPORATION 4 6.56% $9,578
    First Interstate Bank 3 6.13% $3,463
    USAA Federal Savings Bank 3 6.79% $3,432
    Wells Fargo Bank 3 7.29% $4,856
    The First National Bank in Sioux Falls 2 6.44% $5,882
    UNITED WHOLESALE MORTGAGE, LLC 2 6.69% $5,804
    First Dakota National Bank 2 6.44% $4,204
    First Western Bank & Trust 2 7.00% $4,556
    CU MORTGAGE DIRECT, LLC 2 5.94% $4,735
    Deere Employees Credit Union 2 5.75% $3,101
    CORNERSTONE HOME LENDING, INC. 1 7.38% $3,631
    Primebank 1 6.25% $2,464
    BLACK HILLS FEDERAL CREDIT UNION 1 5.99% $10,466
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 7.13% $6,653
    Simmons Bank 1 5.75% $1,429
    Summit Mortgage Corporation 1 6.13% $3,301
    U.S. Bank 1 6.63% $2,957
    V.I.P. MORTGAGE, INC. 1 7.25% $5,003
    PENNYMAC LOAN SERVICES, LLC 1 5.62% $9,984
    First International Bank & Trust 1 7.13% $1,158
    Flagstar Bank, FSB 1 7.63% $0
    Gate City Bank 1 6.88% $6,610
    Heritage Bank 1 5.88% $2,554
    LAKEVIEW LOAN SERVICING, LLC 1 7.38% $7,473
    Mr. Cooper ( Nationstar Mortgage ) 1 7.13% $5,183
    NBKC BANK 1 6.63% $6,156
    FIRST COMMUNITY CREDIT UNION 1 6.75% $6,082

    Watertown Average Closing Costs & Other Stats

    Watertown, SD's 36 lenders originated 579 loans during 2023. The total origination value was $126,935,000, with an average loan value of $219,231.

    Watertown's average closing costs are $4,754.

    The top Watertown lender as defined by loan originations is American Bank & Trust, with 26 loans originated. Their average total fees are $4,924, which is $1,437 higher than the next largest lender, First PREMIER Bank.

    The lowest fee Watertown lenders (with over 10 loans originated) are Dacotah Bank ($3,416), First PREMIER Bank ($3,486), Plains Commerce Bank ($4,389), Reliabank Dakota ($4,477) and American Bank & Trust ($4,924).

    The lowest rate Watertown lenders (with over 10 loans originated) are Dacotah Bank (6.29%), Plains Commerce Bank (6.49%), Reliabank Dakota (6.50%), American Bank & Trust (6.57%) and First Bank & Trust (6.58%).

    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 2022 Loan Value 2023 Loan Value % Change 2023 Market Share
    American Bank & Trust $28,725,000 $20,130,000 -29.9% 15.9%
    First Bank & Trust $16,190,000 $13,320,000 -17.7% 10.5%
    First PREMIER Bank $22,415,000 $13,240,000 -40.9% 10.4%
    Dacotah Bank $15,300,000 $11,885,000 -22.3% 9.4%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $9,370,000 $11,235,000 19.9% 8.9%
    Plains Commerce Bank $12,140,000 $9,595,000 -21.0% 7.6%
    Union State Bank of Fargo $5,785,000 n/a 4.6%
    QUICKEN LOANS, LLC $6,230,000 $4,400,000 -29.4% 3.5%
    Reliabank Dakota $10,140,000 $4,105,000 -59.5% 3.2%
    First Interstate Bank $7,060,000 $2,475,000 -64.9% 1.9%
    USAA Federal Savings Bank $460,000 $2,450,000 432.6% 1.9%
    GUARANTEED RATE, INC. $3,505,000 $2,405,000 -31.4% 1.9%
    Mortgage Research Center, LLC $1,045,000 $2,120,000 102.9% 1.7%
    Bell Bank $1,780,000 n/a 1.4%
    CHURCHILL MORTGAGE CORPORATION $2,870,000 $1,375,000 -52.1% 1.1%
    UNITED WHOLESALE MORTGAGE, LLC $1,240,000 n/a 1.0%
    First International Bank & Trust $3,140,000 $1,115,000 -64.5% 0.9%
    First Dakota National Bank $1,785,000 $1,035,000 -42.0% 0.8%
    Servion, Inc. $1,025,000 n/a 0.8%
    BLACK HILLS FEDERAL CREDIT UNION $650,000 $1,020,000 56.9% 0.8%
    Cornerstone Bank $965,000 n/a 0.8%
    AgCountry Farm Credit Services, FLCA $935,000 n/a 0.7%
    PENNYMAC LOAN SERVICES, LLC $390,000 $785,000 101.3% 0.6%
    Wells Fargo Bank $3,610,000 $760,000 -78.9% 0.6%
    The First National Bank in Sioux Falls $570,000 $680,000 19.3% 0.5%
    First Western Bank & Trust $155,000 $620,000 300.0% 0.5%
    Deere Employees Credit Union $55,000 $595,000 981.8% 0.5%
    SIOUX FALLS $315,000 $550,000 74.6% 0.4%
    BOKF $535,000 n/a 0.4%
    CORNERSTONE HOME LENDING, INC. $525,000 n/a 0.4%
    Summit Mortgage Corporation $775,000 $520,000 -32.9% 0.4%
    Heritage Bank $205,000 $475,000 131.7% 0.4%
    NAVY FEDERAL CREDIT UNION $625,000 $455,000 -27.2% 0.4%
    VOYAGE FEDERAL CREDIT UNION $455,000 n/a 0.4%
    Mr. Cooper ( Nationstar Mortgage ) $400,000 $420,000 5.0% 0.3%
    Gate City Bank $415,000 n/a 0.3%
    Primebank $405,000 n/a 0.3%
    AMERISAVE MORTGAGE CORPORATION $205,000 $340,000 65.9% 0.3%
    CU MORTGAGE DIRECT, LLC $8,350,000 $340,000 -95.9% 0.3%
    FIRST COMMUNITY CREDIT UNION $185,000 $315,000 70.3% 0.2%
    North American Savings Bank, F.S.B. $620,000 $315,000 -49.2% 0.2%
    BANKWEST, INC. $655,000 $305,000 -53.4% 0.2%
    BMO Harris Bank $305,000 n/a 0.2%
    NBKC BANK $305,000 n/a 0.2%
    Citizens Bank $325,000 $295,000 -9.2% 0.2%
    V.I.P. MORTGAGE, INC. $295,000 n/a 0.2%
    Discover Bank $290,000 n/a 0.2%
    CROSSCOUNTRY MORTGAGE, LLC $555,000 $285,000 -48.6% 0.2%
    Flagstar Bank, FSB $490,000 $265,000 -45.9% 0.2%
    Simmons Bank $215,000 n/a 0.2%
    FREEDOM MORTGAGE CORPORATION $455,000 $205,000 -54.9% 0.2%
    BROKER SOLUTIONS, INC. $265,000 $200,000 -24.5% 0.2%
    LAKEVIEW LOAN SERVICING, LLC $330,000 $185,000 -43.9% 0.1%
    U.S. Bank $3,170,000 $130,000 -95.9% 0.1%
    Farm Credit Mid-America, ACA $2,905,000 $125,000 -95.7% 0.1%
    AMERICAN PACIFIC MORTGAGE CORPORATION $115,000 n/a 0.1%
    21ST MORTGAGE CORPORATION $105,000 $80,000 -23.8% 0.1%
    TRIAD FINANCIAL SERVICES, INC. $335,000 $80,000 -76.1% 0.1%
    Bank of America $75,000 n/a 0.1%
    Coastal Community Bank $40,000 n/a 0.0%

    Watertown's top lender by overall market share is American Bank & Trust, with 15.9% market share. In second place, with 10.5%, is First Bank & Trust, having originated $13,320,000 in loans. In third place, with 10.4%, is First PREMIER Bank, having originated $13,240,000 in loans. In fourth place, with 9.4%, is Dacotah Bank, having originated $11,885,000 in loans. In fifth place, with 8.9%, is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, having originated $11,235,000 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
    Watertown's median listing price for 2025-01-01 was $359,975, a difference of $-4,925 (-1.4%) versus the prior year and $2,575 versus the prior month.

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

    Watertown's average listing price for 2025-01-01 was $411,336, a difference of $13,469 (3.4%) versus the prior year and $12,029 versus the prior month.

    For the 2025-01-01 period, Watertown had 63 MLS listings, a difference of -15 listings (-19%) versus the prior month and -6 listings (-9%) 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
    Watertown's median listing age (time on market) for 2025-01-01 was 0 days.

    Watertown's median square footage for active listings during the 2025-01-01 period was 1,909 sqft. One year prior, the average listing was 1,525 sqft.

    Watertown, SD Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 340 $96,670,000 $284,324
    Refi 85 $12,355,000 $145,353
    Home Improvement 68 $5,330,000 $78,382
    Cash Out Refi 48 $8,890,000 $185,208
    Other 38 $3,690,000 $97,105

    Watertown's most frequently cited loan purpose was Home Purchase, with 340 originations. The 2nd most popular reason was Refi, with 85 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    6-7% 195 $46,515,000 $238,538
    Over 8% 127 $15,185,000 $119,567
    5-6% 122 $25,290,000 $207,295
    7-8% 121 $31,515,000 $260,455
    2.5-3% 7 $195,000 $27,857
    4-5% 3 $1,285,000 $428,333
    <2.5% 1 $155,000 $155,000
    3-4% 1 $555,000 $555,000

    During 2023, Watertown's most frequently originated rate bucket was 6-7%, with 195 originations.

    Loan Sizing (Watertown, SD MSA)

    Loan Size Originations Total Value Average Loan
    $200k-400k 179 $50,075,000 $279,749
    $100,000 or less 173 $9,375,000 $54,191
    $100k-200k 164 $24,690,000 $150,549
    $400k-600k 49 $23,455,000 $478,673
    $600k-1000k 8 $6,070,000 $758,750
    $Over $1MM 6 $13,270,000 $2,211,667

    Watertown's loan sizing saw the bucket of loans from $200k-400k with 179 originations, totaling $50,075,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 198 $49,680,000 $250,909
    60-80% 122 $37,220,000 $305,082
    Under 20% 107 $6,195,000 $57,897
    20-40% 77 $10,585,000 $137,468
    40-60% 58 $12,590,000 $217,069
    Over 100% 13 $4,345,000 $334,231

    Watertown's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 198 originations, totaling $49,680,000 in origination value.