South Dakota Mortgage Rates & Closing Costs

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

30 Year Fixed Rate mortgages in South Dakota averaged 6.53% for the week of 2024-02-22, compared to the national average of 6.9% for the same period.

The average rate for the prior week (2024-02-15) was 6.3% and one month ago for the week of 2024-01-18, the average rate was 6.43%.

South Dakota's average rate one year ago was 6.38%.

For refis of the same type during the week of 2024-02-22, the average rate was 6.01%.

Loan Type Date Rate
US 30 Year Fixed Rate 2024-02-22 6.9%
South Dakota 30 Year Fixed Rate 2024-02-22 6.53%
South Dakota 30 Year Fixed Rate Refi 2024-02-22 6.01%
South Dakota 15 Year Fixed Rate 2024-02-22 6.71%
South Dakota 15 Year Fixed Rate Refi 2024-02-22 5.17%
South Dakota 30 Year FHA 2024-02-22 -0.06%
South Dakota 30 Year FHA Refi 2024-02-22 -0.1%
South Dakota 30 Year USDA 2024-02-22 -0.69%
South Dakota 30 Year USDA Refi 2024-02-22 0%
South Dakota 30 Year VA 2024-02-22 -0.34%
South Dakota 30 Year VA Refi 2024-02-22 -2.01%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within South Dakota.

South Dakota 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 South Dakota 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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
Plains Commerce Bank 1,116 4.98% $4,629
First PREMIER Bank 441 4.79% $4,677
BLACK HILLS FEDERAL CREDIT UNION 423 3.89% $5,758
First Dakota National Bank 409 4.73% $3,901
First Bank & Trust 382 4.63% $5,283
QUICKEN LOANS, LLC 310 5.03% $6,913
Wells Fargo Bank 302 4.65% $4,019
CMG MORTGAGE, INC. 276 4.96% $5,520
Dacotah Bank 242 4.90% $4,018
CORTRUST MORTGAGE, INC. 231 4.97% $4,976
American Bank & Trust 231 4.71% $4,269
Gateway First Bank 224 4.83% $4,442
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 223 5.22% $3,753
First Interstate Bank 211 4.88% $4,236
BANKWEST, INC. 181 4.83% $5,307
U.S. Bank 179 4.89% $4,316
UNITED WHOLESALE MORTGAGE, LLC 164 5.41% $4,307
CU MORTGAGE DIRECT, LLC 163 4.99% $3,909
SIOUX FALLS 152 4.64% $4,302
Central Bank 152 4.32% $5,131
Reliabank Dakota 143 4.83% $4,811
The First National Bank in Sioux Falls 127 4.43% $4,891
First International Bank & Trust 119 4.84% $4,496
CROSSCOUNTRY MORTGAGE, LLC 95 5.46% $6,343
Unify Home Lending Inc. 95 5.06% $5,558
First National Bank 86 5.08% $4,467
Farm Credit Mid-America, ACA 73 5.26% $9,954
GUARANTEED RATE, INC. 71 4.83% $4,256
LOANDEPOT.COM, LLC 71 4.38% $7,983
HOMESTAR FINANCIAL CORPORATION 69 5.03% $5,514
Lend Smart Mortgage, LLC 64 5.11% $9,045
First National Bank of Omaha 50 5.20% $3,955
Mr. Cooper ( Nationstar Mortgage ) 46 4.94% $7,270
PENNYMAC LOAN SERVICES, LLC 40 4.59% $7,121
Flagstar Bank, FSB 38 5.03% $6,452
JPMorgan Chase Bank 32 4.37% $4,533
Citizens Bank 31 4.24% $5,249
HOME POINT FINANCIAL CORPORATION 30 4.24% $6,006
FREEDOM MORTGAGE CORPORATION 30 5.12% $6,120
IOWA BANKERS MORTGAGE CORPORATION 29 4.42% $4,005
BROKER SOLUTIONS, INC. 28 5.32% $5,829
AMERISAVE MORTGAGE CORPORATION 27 3.93% $7,214
CHURCHILL MORTGAGE CORPORATION 23 5.31% $5,432
DAS Acquisition Company, LLC 22 5.03% $5,450
Servion, Inc. 18 4.28% $5,313
SIOUXLAND FEDERAL CREDIT UNION 18 3.80% $4,689
NEWREZ LLC 18 4.38% $5,924
NAVY FEDERAL CREDIT UNION 17 4.74% $4,116
The Huntington National Bank 17 4.66% $4,141
Minnwest Bank 17 5.59% $4,191
Security First Bank 16 4.84% $3,761
Goldwater Bank, N.A. 16 5.07% $5,924
American State Bank 16 4.52% $3,048
Bank of the West 15 4.68% $4,523
Primebank 14 4.46% $3,950
MUTUAL OF OMAHA MORTGAGE, INC. 14 4.70% $6,991
Bank of America 14 4.32% $4,944
Northwest Bank 14 4.37% $4,863
CALIBER HOME LOANS, INC. 13 4.76% $7,684
KELLER MORTGAGE, LLC 13 4.67% $3,154
LAKEVIEW LOAN SERVICING, LLC 12 4.25% $5,008
CARDINAL FINANCIAL 12 4.75% $7,802
Heritage Bank 12 5.27% $5,234
Great Western Bank 12 3.29% $3,639
Arvest Bank 11 4.39% $4,571
BETTER MORTGAGE CORPORATION 11 4.07% $2,649
USAA Federal Savings Bank 11 5.43% $5,874
Ally Bank 10 4.41% $5,145
Merchants Bank 10 5.60% $4,376
Summit Mortgage Corporation 10 5.08% $3,638
Carrington Mortgage Services, LLC 10 4.86% $8,817
AMERICAN FINANCING CORPORATION 10 4.86% $6,543
Bell Bank 9 4.92% $4,048
PRIMELENDING, A PLAINSCAPITAL COMPANY 9 5.47% $6,494
Truist 8 4.27% $5,939
FIRST COMMUNITY MORTGAGE, INC. 8 6.66% $5,258
Flanagan State Bank 8 5.34% $6,761
OPEN MORTGAGE, LLC 8 5.11% $6,041
Mortgage Research Center, LLC 7 4.73% $6,447
First Western Bank & Trust 7 4.16% $2,962
ARK-LA-TEX FINANCIAL SERVICES, LLC. 6 4.89% $6,967
WINGS FINANCIAL 6 4.08% $2,607
PRIMARY RESIDENTIAL MORTGAGE, INC. 6 5.29% $7,562
NBKC BANK 6 5.10% $3,460
Gate City Bank 6 4.00% $4,928
GUILD MORTGAGE COMPANY 6 4.68% $7,686
West Gate Bank 6 4.38% $3,584
MOVEMENT MORTGAGE, LLC 6 4.75% $4,366
BAY EQUITY LLC 5 4.47% $8,414
Century Mortgage Company DBA Century Lending Company 5 3.35% $9,200
The Federal Savings Bank 5 4.98% $4,157
Alerus Financial 5 5.50% $4,924
Stifel Bank and Trust 4 4.41% $2,853
American Mortgage & Equity Consultants, Inc. 4 4.84% $3,191
Bremer Bank 4 4.72% $6,089
North American Savings Bank, F.S.B. 4 5.03% $2,151
Bank Midwest 4 3.87% $3,866
Prosperity Home Mortgage, LLC 4 5.94% $4,553
First Savings Bank 4 4.94% $4,351
Discover Bank 4 4.68% $0
COMPEER FINANCIAL, FLCA 3 6.42% $2,986
ANGEL OAK MORTGAGE SOLUTIONS LLC 3 4.62% $13,986
BMO Harris Bank 3 4.29% $6,190
Choice Financial Group 3 3.25% $7,524
Colonial Savings, F.A. 3 4.83% $6,805
Community Mortgage Banc Corporation 3 6.07% $2,171
Dakota Community Bank & Trust 3 5.58% $5,071
Deere Employees Credit Union 3 2.96% $2,955
EVERETT FINANCIAL, INC. 3 5.46% $2,330
FINANCE OF AMERICA MORTGAGE LLC 3 5.04% $7,159
First Guaranty Mortgage Corporation 3 5.00% $8,116
FOUR POINTS 3 4.29% $2,376
Frandsen Bank & Trust 3 4.96% $5,149
Midwest Heritage Bank FSB 3 4.42% $2,135
PENTAGON FEDERAL CREDIT UNION 3 4.21% $2,281
PHH Mortgage Corporation 3 3.54% $6,510
Pinnacle Bank - Wyoming 3 4.46% $5,561
PNC Bank 3 4.63% $3,527
PREMIA MORTGAGE, LLC 3 5.79% $609
S1L, Inc. 3 4.12% $5,987
Union Bank and Trust Company 3 4.92% $2,996
VERIDIAN CREDIT UNION 3 6.13% $2,658
Wyndham Capital Mortgage, Inc. 3 5.63% $3,101
ZILLOW HOME LOANS, LLC 3 5.54% $3,886
HIWAY 2 4.25% $2,876
GUARANTY HOME MORTGAGE CORPORATION 2 6.75% $5,606
Morgan Stanley Private Bank 2 3.85% $3,965
First Federal Bank 2 3.50% $3,470
Nations Lending Corporation 2 4.94% $7,430
NexBank 2 5.19% $5,176
Old National Bank 2 4.50% $2,627
Paramount Residential Mortgage Group, Inc. 2 6.00% $4,740
Amerifirst Financial, Inc. 2 5.00% $4,426
AMERICAN PACIFIC MORTGAGE CORPORATION 2 4.38% $5,209
CREDIT UNION MORTGAGE ASSOCIATION, INC. 2 4.56% $3,352
PLAZA HOME MORTGAGE, INC. 2 4.06% $7,629
21ST MORTGAGE CORPORATION 2 5.25% $5,168
CITIZENS EQUITY FIRST 2 3.69% $2,993
Raymond James Bank 2 3.69% $4,196
Citibank 2 4.19% $3,155
Chicago Mortgage Solutions LLC 2 2.87% $1,480
CHERRY CREEK MORTGAGE, LLC 2 4.88% $613
Simmons Bank 2 4.00% $2,567
Charles Schwab Bank, SSB 2 2.63% $3,179
SOFI LENDING CORP. 2 4.50% $3,330
Sunflower Bank 2 6.06% $9,811
Bank of England 2 5.00% $5,913
THRIVENT Federal Credit Union 2 2.69% $4,653
Toyota Financial Savings Bank 2 3.81% $4,774
Bank of Colorado 2 5.88% $4,964
HOMEBRIDGE FINANCIAL SERVICES, INC. 2 6.69% $6,290
The Union Bank Company 1 3.13% $4,322
DEEPHAVEN MORTGAGE LLC 1 7.13% $6,787
Operating Engineers Local Union #3 1 3.38% $2,938
Paramount Bank 1 3.88% $4,377
Think Mutual Bank 1 3.88% $4,479
DATA MORTGAGE, INC. 1 5.63% $12,640
Home Federal Savings & Loan Association of Grand Island 1 5.25% $2,142
TOWN AND COUNTRY Credit Union 1 3.25% $3,726
Pinnacle Bank 1 5.00% $3,614
US MORTGAGE CORPORATION 1 5.88% $14,420
Ixonia Bank 1 5.25% $2,559
PLANET HOME LENDING, LLC 1 4.25% $6,055
Jonah Bank of Wyoming 1 5.13% $4,878
ACADEMY MORTGAGE CORPORATION 1 6.00% $3,277
American National Bank 1 5.88% $8,439
Core Bank 1 3.99% $5,482
UBS Bank USA 1 4.25% $3,419
Commerce Bank 1 3.38% $4,429
City National Bank 1 2.72% $3,213
AXIA FINANCIAL, LLC 1 3.63% $4,345
Willamette Valley Bank 1 4.25% $4,863
RBC Bank, (Georgia) 1 5.25% $1,711
Union State Bank of Fargo 1 3.50% $4,619
RESIDENTIAL BANCORP 1 5.50% $14,744
RiverWood Bank 1 3.75% $4,682
Access Bank 1 5.50% $2,154
HOMESIDE FINANCIAL, LLC 1 6.13% $5,671
Semper Home Loans, Inc. 1 5.13% $2,738
HOMEOWNERS FINANCIAL GROUP USA, LLC 1 4.99% $10,056
Sierra Pacific Mortgage Company, Inc. 1 5.25% $5,478
Signature Federal Credit Union 1 4.25% $7,772
HomeTown Bank 1 5.25% $6,015
CHARTER WEST BANK 1 5.63% $1,789
HSBC BANK USA, NATIONAL ASSOCIATION 1 4.55% $3,246
SIRVA MORTGAGE, INC. 1 4.50% $2,124
I. H. MISSISSIPPI VALLEY CREDIT UNION 1 3.63% $1,008
STAR ONE CREDIT UNION 1 4.50% $2,031
STEARNS LENDING, LLC 1 3.25% $3,298
Cf Bank 1 2.75% $7,999
CASTLE & COOKE MORTGAGE, LLC 1 4.88% $10,779
SUMMIT MORTGAGE CORPORATION 1 7.00% $7,746
KeyBank 1 4.63% $2,481
IncredibleBank 1 6.13% $4,678
Great Southern Bank 1 3.75% $3,108
Grand Bank for Savings, FSB 1 8.13% $3,021
MEMBER FIRST MORTGAGE, LLC 1 5.38% $2,884
Florida Capital Bank 1 3.88% $5,172
ARIZONA 1 7.88% $6,308
First Internet Bank of Indiana 1 3.88% $2,623
The Central Trust Bank 1 2.99% $2,825
MORIA DEVELOPMENT, INC. 1 4.00% $5,924
Baxter Credit Union 1 5.50% $2,407
MORTGAGE SOLUTIONS OF COLORADO, LLC 1 5.75% $5,469
FIRST COMMUNITY CREDIT UNION 1 3.13% $5,208
FIRST COLONY MORTGAGE CORPORATION 1 6.13% $5,724
FirstBank 1 3.50% $1,536
Barrington Bank & Trust Company, N.A. 1 5.13% $4,244
First Bank 1 3.38% $3,176
NBH Bank 1 4.88% $3,296
FARMERS INSURANCE GROUP FEDERAL CREDIT UNION 1 4.75% $4,730
Exchange Bank 1 5.25% $2,808
INLAND BANK & TRUST 1 5.88% $2,624
NFM, INC. 1 4.38% $6,302
EASTMAN 1 5.25% $2,373
Northpointe Bank 1 3.75% $3,762
DIGITAL Federal Credit Union 1 5.13% $2,371
Notre Dame Federal Credit Union Corporation 1 3.00% $4,620

South Dakota Average Closing Costs & Other Stats

South Dakota's 218 lenders originated 21,326 loans during 2022. The total origination value was $5,723,670,000, with an average loan value of $268,389.

South Dakota's average closing costs are $4,711.

The top South Dakota lender as defined by loan originations is Plains Commerce Bank, with 1,116 loans originated. Their average total fees are $4,629, which is $48 lower than the next largest lender, First PREMIER Bank.

The lowest fee South Dakota lenders (with over 10 loans originated) are BETTER MORTGAGE CORPORATION ($2,649), American State Bank ($3,048), KELLER MORTGAGE, LLC ($3,154), Summit Mortgage Corporation ($3,638) and Great Western Bank ($3,639).

The lowest rate South Dakota lenders (with over 10 loans originated) are Great Western Bank (3.29%), SIOUXLAND FEDERAL CREDIT UNION (3.80%), BLACK HILLS FEDERAL CREDIT UNION (3.89%), AMERISAVE MORTGAGE CORPORATION (3.93%) and BETTER MORTGAGE CORPORATION (4.07%).

South Dakota 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 2021 Loan Value 2022 Loan Value % Change 2022 Market Share
Plains Commerce Bank $843,570,000 $559,125,000 -33.7% 9.8%
First PREMIER Bank $438,840,000 $274,190,000 -37.5% 4.8%
BLACK HILLS FEDERAL CREDIT UNION $246,080,000 $255,290,000 3.7% 4.5%
First Bank & Trust $409,145,000 $228,925,000 -44.0% 4.0%
First Dakota National Bank $364,850,000 $228,640,000 -37.3% 4.0%
First Interstate Bank $106,160,000 $224,745,000 111.7% 3.9%
American Bank & Trust $160,405,000 $215,665,000 34.5% 3.8%
CMG MORTGAGE, INC. $217,395,000 $159,150,000 -26.8% 2.8%
Wells Fargo Bank $274,500,000 $156,635,000 -42.9% 2.7%
Central Bank $121,960,000 $140,830,000 15.5% 2.5%
QUICKEN LOANS, LLC $286,885,000 $136,120,000 -52.6% 2.4%
First International Bank & Trust $98,235,000 $130,015,000 32.4% 2.3%
U.S. Bank $175,120,000 $123,055,000 -29.7% 2.1%
Dacotah Bank $173,615,000 $121,500,000 -30.0% 2.1%
BANKWEST, INC. $151,505,000 $117,715,000 -22.3% 2.1%
Gateway First Bank $157,990,000 $106,200,000 -32.8% 1.9%
FAIRWAY INDEPENDENT MORTGAGE CORPORATION $155,425,000 $103,965,000 -33.1% 1.8%
UNITED WHOLESALE MORTGAGE, LLC $128,070,000 $98,540,000 -23.1% 1.7%
Reliabank Dakota $122,280,000 $97,030,000 -20.6% 1.7%
SIOUX FALLS $165,495,000 $95,425,000 -42.3% 1.7%
Security National Bank of South Dakota $32,845,000 $88,360,000 169.0% 1.5%
The First National Bank in Sioux Falls $129,900,000 $77,910,000 -40.0% 1.4%
CORTRUST MORTGAGE, INC. $173,055,000 $73,745,000 -57.4% 1.3%
First National Bank $72,545,000 $69,340,000 -4.4% 1.2%
Grandbridge Real Estate Capital LLC $71,885,000 $62,090,000 -13.6% 1.1%
Mortgage Research Center, LLC $78,895,000 $61,435,000 -22.1% 1.1%
CU MORTGAGE DIRECT, LLC $146,340,000 $56,100,000 -61.7% 1.0%
CorTrust Bank $60,295,000 $52,640,000 -12.7% 0.9%
Pioneer Bank & Trust $82,070,000 $50,085,000 -39.0% 0.9%
Minnwest Bank $16,555,000 $49,050,000 196.3% 0.9%
CROSSCOUNTRY MORTGAGE, LLC $61,930,000 $48,725,000 -21.3% 0.9%
Bell Bank $15,520,000 $47,740,000 207.6% 0.8%
Unify Home Lending Inc. $87,850,000 $45,490,000 -48.2% 0.8%
Farm Credit Mid-America, ACA $50,970,000 $45,285,000 -11.2% 0.8%
HOMESTAR FINANCIAL CORPORATION $62,845,000 $44,450,000 -29.3% 0.8%
Bethpage Federal Credit Union $41,380,000 n/a 0.7%
GUARANTEED RATE, INC. $86,855,000 $39,170,000 -54.9% 0.7%
SERVICE FIRST FEDERAL CREDIT UNION $11,880,000 $38,575,000 224.7% 0.7%
Black Hills Community Bank $69,600,000 $38,180,000 -45.1% 0.7%
American State Bank $24,285,000 $35,830,000 47.5% 0.6%
Truist $5,285,000 $35,700,000 575.5% 0.6%
LOANDEPOT.COM, LLC $52,485,000 $32,790,000 -37.5% 0.6%
Lend Smart Mortgage, LLC $78,240,000 $31,090,000 -60.3% 0.5%
BELLWETHER ENTERPRISE REAL ESTATE CAPITAL, LLC $16,275,000 $30,715,000 88.7% 0.5%
Security First Bank $21,300,000 $30,665,000 44.0% 0.5%
PENNYMAC LOAN SERVICES, LLC $69,820,000 $27,410,000 -60.7% 0.5%
First National Bank of Omaha $16,995,000 $25,870,000 52.2% 0.5%
Cornerstone Bank $15,830,000 $24,700,000 56.0% 0.4%
NORTHMARQ CAPITAL FINANCE, L.L.C. $24,145,000 n/a 0.4%
FREEDOM MORTGAGE CORPORATION $87,095,000 $24,125,000 -72.3% 0.4%
Flagstar Bank, FSB $37,180,000 $23,820,000 -35.9% 0.4%
Mr. Cooper ( Nationstar Mortgage ) $32,920,000 $23,065,000 -29.9% 0.4%
Heritage Bank $32,205,000 $22,455,000 -30.3% 0.4%
Bank Midwest $9,010,000 $21,220,000 135.5% 0.4%
Citizens Community Federal $20,925,000 n/a 0.4%
NAVY FEDERAL CREDIT UNION $25,145,000 $18,480,000 -26.5% 0.3%
The Security National Bank of Sioux City, Iowa $11,390,000 $17,975,000 57.8% 0.3%
JPMorgan Chase Bank $17,995,000 $17,595,000 -2.2% 0.3%
HIGHMARK $36,265,000 $15,210,000 -58.1% 0.3%
HOME POINT FINANCIAL CORPORATION $28,490,000 $14,215,000 -50.1% 0.2%
Merchants Bank of Indiana $27,630,000 $14,150,000 -48.8% 0.2%
VOYAGE FEDERAL CREDIT UNION $10,470,000 $14,050,000 34.2% 0.2%
DAS Acquisition Company, LLC $28,420,000 $13,670,000 -51.9% 0.2%
AMERISAVE MORTGAGE CORPORATION $35,185,000 $13,070,000 -62.9% 0.2%
BROKER SOLUTIONS, INC. $12,600,000 $12,655,000 0.4% 0.2%
USAA Federal Savings Bank $20,110,000 $12,510,000 -37.8% 0.2%
Bridgewater Bank $11,730,000 n/a 0.2%
NEWREZ LLC $21,660,000 $11,540,000 -46.7% 0.2%
SIOUX EMPIRE $10,925,000 n/a 0.2%
NEW DAY FINANCIAL, LLC $22,900,000 $10,735,000 -53.1% 0.2%
Citizens Bank $28,735,000 $10,570,000 -63.2% 0.2%
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP $12,790,000 $10,335,000 -19.2% 0.2%
Northwest Bank $7,855,000 $10,005,000 27.4% 0.2%
IOWA BANKERS MORTGAGE CORPORATION $25,885,000 $9,770,000 -62.3% 0.2%
The Federal Savings Bank $10,080,000 $9,570,000 -5.1% 0.2%
Northern Hills FCU $9,525,000 n/a 0.2%
The Huntington National Bank $4,540,000 $9,480,000 108.8% 0.2%
Great Western Bank $199,635,000 $9,300,000 -95.3% 0.2%
MUTUAL OF OMAHA MORTGAGE, INC. $8,300,000 $8,830,000 6.4% 0.2%
Goldwater Bank, N.A. $14,440,000 $8,640,000 -40.2% 0.2%
Bank of the West $11,030,000 $8,335,000 -24.4% 0.1%
Servion, Inc. $8,730,000 $8,025,000 -8.1% 0.1%
Primebank $7,900,000 n/a 0.1%
First Savings Bank $1,245,000 $7,685,000 517.3% 0.1%
Flanagan State Bank $17,040,000 $7,640,000 -55.2% 0.1%
CHURCHILL MORTGAGE CORPORATION $9,655,000 $7,505,000 -22.3% 0.1%
Liberty National Bank $7,445,000 $7,465,000 0.3% 0.1%
Union State Bank of Fargo $11,650,000 $7,230,000 -37.9% 0.1%
SIOUXLAND FEDERAL CREDIT UNION $6,580,000 $7,165,000 8.9% 0.1%
Bank of America $15,885,000 $6,995,000 -56.0% 0.1%
CALIBER HOME LOANS, INC. $37,290,000 $6,930,000 -81.4% 0.1%
LAKEVIEW LOAN SERVICING, LLC $24,545,000 $6,605,000 -73.1% 0.1%
MID AMERICA MORTGAGE, INC. $10,360,000 $6,545,000 -36.8% 0.1%
Carrington Mortgage Services, LLC $8,930,000 $6,095,000 -31.7% 0.1%
OPEN MORTGAGE, LLC $31,355,000 $6,050,000 -80.7% 0.1%
BETTER MORTGAGE CORPORATION $17,720,000 $5,470,000 -69.1% 0.1%
AMERICAN FINANCING CORPORATION $4,820,000 $4,625,000 -4.0% 0.1%
Ally Bank $7,265,000 $4,455,000 -38.7% 0.1%
PENTAGON FEDERAL CREDIT UNION $3,705,000 $4,410,000 19.0% 0.1%
PRIMELENDING, A PLAINSCAPITAL COMPANY $1,700,000 $4,215,000 147.9% 0.1%
MOVEMENT MORTGAGE, LLC $2,615,000 $3,855,000 47.4% 0.1%
Arbor Realty Trust, Inc. $5,175,000 $3,740,000 -27.7% 0.1%
Stifel Bank and Trust $3,525,000 $3,680,000 4.4% 0.1%
NBKC BANK $3,385,000 $3,535,000 4.4% 0.1%
Security Savings Bank $3,505,000 n/a 0.1%
21ST MORTGAGE CORPORATION $2,905,000 $3,475,000 19.6% 0.1%
KELLER MORTGAGE, LLC $11,270,000 $3,370,000 -70.1% 0.1%
GUILD MORTGAGE COMPANY $6,685,000 $3,285,000 -50.9% 0.1%
FIRST COMMUNITY MORTGAGE, INC. $3,160,000 n/a 0.1%
Alerus Financial $1,700,000 $3,155,000 85.6% 0.1%
Gate City Bank $2,995,000 $3,090,000 3.2% 0.1%
Barrington Bank & Trust Company, N.A. $5,490,000 $3,020,000 -45.0% 0.1%
Arvest Bank $2,430,000 $2,970,000 22.2% 0.1%
BMO Harris Bank $130,000 $2,915,000 2,142.3% 0.1%
North American Savings Bank, F.S.B. $4,130,000 $2,810,000 -32.0% 0.0%
West Gate Bank $4,460,000 $2,795,000 -37.3% 0.0%
VILLAGE CAPITAL MORTGAGE $8,005,000 $2,735,000 -65.8% 0.0%
Premier Bank $5,660,000 $2,640,000 -53.4% 0.0%
Discover Bank $2,290,000 $2,590,000 13.1% 0.0%
First Western Bank & Trust $1,205,000 $2,530,000 110.0% 0.0%
Bremer Bank $5,225,000 $2,495,000 -52.2% 0.0%
First Guaranty Mortgage Corporation $2,980,000 $2,495,000 -16.3% 0.0%
Midwest Bank $2,495,000 n/a 0.0%
PRIMARY RESIDENTIAL MORTGAGE, INC. $350,000 $2,475,000 607.1% 0.0%
COMPEER FINANCIAL, FLCA $1,175,000 $2,450,000 108.5% 0.0%
Union Bank and Trust Company $25,000 $2,390,000 9,460.0% 0.0%
AMERICAN ADVISORS GROUP $2,210,000 $2,325,000 5.2% 0.0%
TRIAD FINANCIAL SERVICES, INC. $500,000 $2,240,000 348.0% 0.0%
FINANCE OF AMERICA REVERSE LLC $2,250,000 $2,230,000 -0.9% 0.0%
PLANET HOME LENDING, LLC $2,920,000 $2,190,000 -25.0% 0.0%
Merchants Bank $4,170,000 $2,175,000 -47.8% 0.0%
ANGEL OAK MORTGAGE SOLUTIONS LLC $1,615,000 $2,015,000 24.8% 0.0%
ARK-LA-TEX FINANCIAL SERVICES, LLC. $4,805,000 $1,985,000 -58.7% 0.0%
Northpointe Bank $3,390,000 $1,965,000 -42.0% 0.0%
Prosperity Home Mortgage, LLC $1,945,000 n/a 0.0%
BAY EQUITY LLC $12,245,000 $1,940,000 -84.2% 0.0%
EVERETT FINANCIAL, INC. $1,205,000 $1,875,000 55.6% 0.0%
Pinnacle Bank - Wyoming $2,160,000 $1,865,000 -13.7% 0.0%
Toyota Financial Savings Bank $965,000 $1,865,000 93.3% 0.0%
S1L, Inc. $1,265,000 $1,860,000 47.0% 0.0%
ZILLOW HOME LOANS, LLC $855,000 $1,810,000 111.7% 0.0%
Summit Mortgage Corporation $1,725,000 $1,805,000 4.6% 0.0%
Center National Bank $1,685,000 n/a 0.0%
Century Mortgage Company DBA Century Lending Company $295,000 $1,680,000 469.5% 0.0%
Choice Financial Group $7,240,000 $1,635,000 -77.4% 0.0%
Midstates Bank $670,000 $1,625,000 142.5% 0.0%
Independent Bank $215,000 $1,615,000 651.2% 0.0%
Dakota Community Bank & Trust $1,610,000 $1,535,000 -4.7% 0.0%
WINGS FINANCIAL $660,000 $1,485,000 125.0% 0.0%
Raymond James Bank $1,070,000 $1,480,000 38.3% 0.0%
Paramount Residential Mortgage Group, Inc. $775,000 $1,470,000 89.7% 0.0%
FINANCE OF AMERICA MORTGAGE LLC $1,150,000 $1,395,000 21.3% 0.0%
PNC Bank $2,915,000 $1,390,000 -52.3% 0.0%
Core Bank $1,370,000 n/a 0.0%
PLAZA HOME MORTGAGE, INC. $370,000 $1,370,000 270.3% 0.0%
American Bank Center $650,000 $1,310,000 101.5% 0.0%
CHERRY CREEK MORTGAGE, LLC $845,000 $1,260,000 49.1% 0.0%
Morgan Stanley Private Bank $3,005,000 $1,250,000 -58.4% 0.0%
American Mortgage & Equity Consultants, Inc. $1,030,000 $1,245,000 20.9% 0.0%
Telco Triad Community Credit Union $1,220,000 n/a 0.0%
First State Bank $1,205,000 n/a 0.0%
VERIDIAN CREDIT UNION $36,630,000 $1,200,000 -96.7% 0.0%
Deere Employees Credit Union $970,000 $1,165,000 20.1% 0.0%
Glacier Bank $1,115,000 n/a 0.0%
Wyndham Capital Mortgage, Inc. $3,280,000 $1,115,000 -66.0% 0.0%
Charles Schwab Bank, SSB $1,640,000 $1,090,000 -33.5% 0.0%
M&T Bank $1,550,000 $1,075,000 -30.6% 0.0%
PREMIA MORTGAGE, LLC $1,560,000 $1,070,000 -31.4% 0.0%
Availa Bank $690,000 $1,065,000 54.3% 0.0%
Paramount Bank $2,395,000 $1,045,000 -56.4% 0.0%
THRIVENT Federal Credit Union $2,545,000 $1,035,000 -59.3% 0.0%
LONGBRIDGE FINANCIAL, LLC $115,000 $1,025,000 791.3% 0.0%
FARMERS INSURANCE GROUP FEDERAL CREDIT UNION $175,000 $1,015,000 480.0% 0.0%
AXIA FINANCIAL, LLC $1,010,000 n/a 0.0%
Midwest Heritage Bank FSB $3,755,000 $1,000,000 -73.4% 0.0%
CITIZENS EQUITY FIRST $545,000 $990,000 81.7% 0.0%
Pinnacle Bank $3,380,000 $965,000 -71.4% 0.0%
First Savings Bank $1,245,000 $935,000 -24.9% 0.0%
Bank of England $1,195,000 $930,000 -22.2% 0.0%
HOMEBRIDGE FINANCIAL SERVICES, INC. $4,880,000 $915,000 -81.3% 0.0%
Chicago Mortgage Solutions LLC $205,000 $910,000 343.9% 0.0%
FOUR POINTS $1,095,000 $910,000 -16.9% 0.0%
Prudential Huntoon Paige Associates, LLC $895,000 n/a 0.0%
Starion Bank $7,140,000 $895,000 -87.5% 0.0%
Frandsen Bank & Trust $540,000 $890,000 64.8% 0.0%
SOUTHPOINT FINANCIAL $995,000 $890,000 -10.6% 0.0%
HIWAY $195,000 $875,000 348.7% 0.0%
Points West Community Bank $305,000 $870,000 185.2% 0.0%
AMERICAN PACIFIC MORTGAGE CORPORATION $1,595,000 $865,000 -45.8% 0.0%
Citibank $1,370,000 $850,000 -38.0% 0.0%
Commerce Bank $775,000 $835,000 7.7% 0.0%
GUARANTY HOME MORTGAGE CORPORATION $1,140,000 $835,000 -26.8% 0.0%
Kirkwood Bank & Trust Co. $330,000 $830,000 151.5% 0.0%
The Union Bank Company $830,000 n/a 0.0%
The Central Trust Bank $630,000 $820,000 30.2% 0.0%
First Federal Bank $3,125,000 $765,000 -75.5% 0.0%
UBS Bank USA $1,565,000 $725,000 -53.7% 0.0%
Colonial Savings, F.A. $955,000 $705,000 -26.2% 0.0%
Nations Lending Corporation $2,425,000 $695,000 -71.3% 0.0%
Cornerstone First Mortgage, Inc $670,000 n/a 0.0%
NBH Bank $530,000 $670,000 26.4% 0.0%
PHH Mortgage Corporation $1,060,000 $655,000 -38.2% 0.0%
AgCountry Farm Credit Services, FLCA $645,000 n/a 0.0%
Cf Bank $465,000 $645,000 38.7% 0.0%
IncredibleBank $645,000 n/a 0.0%
INTERCAP LENDING INC. $645,000 n/a 0.0%
CASTLE & COOKE MORTGAGE, LLC $635,000 n/a 0.0%
FIRST COMMUNITY CREDIT UNION $25,000 $635,000 2,440.0% 0.0%
BNC National Bank $2,445,000 $620,000 -74.6% 0.0%
Simmons Bank $620,000 n/a 0.0%
Central Bank Illinois $615,000 n/a 0.0%
Florida Capital Bank $430,000 $600,000 39.5% 0.0%
FCB Banks $590,000 n/a 0.0%
SOUTHWEST STAGE FUNDING, LLC $1,740,000 $590,000 -66.1% 0.0%
Sunflower Bank $940,000 $590,000 -37.2% 0.0%
Vermillion State Bank $585,000 n/a 0.0%
JAMES B. NUTTER & COMPANY $580,000 n/a 0.0%
First Bank $370,000 $565,000 52.7% 0.0%
Community Mortgage Banc Corporation $865,000 $555,000 -35.8% 0.0%
MORTGAGE SOLUTIONS OF COLORADO, LLC $860,000 $550,000 -36.0% 0.0%
Equity Prime Mortgage LLC $545,000 n/a 0.0%
FirstBank $1,680,000 $540,000 -67.9% 0.0%
TOWN AND COUNTRY Credit Union $1,285,000 $540,000 -58.0% 0.0%
American Heritage National Bank $535,000 n/a 0.0%
Stockman Bank of Montana $3,305,000 $530,000 -84.0% 0.0%
Peoples Bank $3,440,000 $525,000 -84.7% 0.0%
Old National Bank $770,000 $520,000 -32.5% 0.0%
Figure Lending LLC $420,000 $515,000 22.6% 0.0%
IMPAC MORTGAGE CORP. $525,000 $515,000 -1.9% 0.0%
First Internet Bank of Indiana $195,000 $510,000 161.5% 0.0%
Elements Financial Federal Credit Union $400,000 $505,000 26.3% 0.0%
RESIDENTIAL BANCORP. $235,000 $505,000 114.9% 0.0%
First State Bank Nebraska $500,000 n/a 0.0%
BankFirst $3,040,000 $495,000 -83.7% 0.0%
KeyBank $24,755,000 $495,000 -98.0% 0.0%
Sierra Pacific Mortgage Company, Inc. $165,000 $485,000 193.9% 0.0%
Bank of Colorado $185,000 $480,000 159.5% 0.0%
First Bank $370,000 $480,000 29.7% 0.0%
Great Southern Bank $2,630,000 $470,000 -82.1% 0.0%
Magnolia Bank $245,000 $460,000 87.8% 0.0%
HOMEOWNERS FINANCIAL GROUP USA, LLC $1,805,000 $450,000 -75.1% 0.0%
Hometown Credit Union $450,000 n/a 0.0%
NexBank $450,000 n/a 0.0%
SOFI LENDING CORP. $860,000 $450,000 -47.7% 0.0%
Think Mutual Bank $930,000 $440,000 -52.7% 0.0%
CORNHUSKER BANK $435,000 n/a 0.0%
DATA MORTGAGE, INC. $435,000 n/a 0.0%
GREENSTATE CREDIT UNION $430,000 n/a 0.0%
I. H. MISSISSIPPI VALLEY CREDIT UNION $415,000 n/a 0.0%
Amerifirst Financial, Inc. $440,000 $410,000 -6.8% 0.0%
Five Points Bank $405,000 n/a 0.0%
Lincoln FSB of Nebraska $405,000 n/a 0.0%
Citizens Alliance Bank $925,000 $400,000 -56.8% 0.0%
SUMMIT MORTGAGE CORPORATION $85,000 $395,000 364.7% 0.0%
CREDIT UNION MORTGAGE ASSOCIATION, INC. $390,000 n/a 0.0%
AMERICAN INTERNET MORTGAGE, INC. $1,845,000 $380,000 -79.4% 0.0%
Exchange Bank $375,000 n/a 0.0%
HomeTown Bank $1,010,000 $375,000 -62.9% 0.0%
POLARIS HOME FUNDING CORP. $480,000 $370,000 -22.9% 0.0%
City State Bank $355,000 n/a 0.0%
RBC Bank, (Georgia) $1,325,000 $355,000 -73.2% 0.0%
Chambers Bank $345,000 n/a 0.0%
Community First National Bank $520,000 $345,000 -33.7% 0.0%
Armed Forces Bank $325,000 $335,000 3.1% 0.0%
BankIowa of Cedar Rapids $335,000 n/a 0.0%
Fidelity Bank $510,000 $335,000 -34.3% 0.0%
US MORTGAGE CORPORATION $405,000 $335,000 -17.3% 0.0%
Baxter Credit Union $510,000 $325,000 -36.3% 0.0%
HSBC BANK USA, NATIONAL ASSOCIATION $325,000 n/a 0.0%
Access Bank $1,170,000 $315,000 -73.1% 0.0%
NFM, INC. $185,000 $315,000 70.3% 0.0%
AMCAP MORTGAGE, LTD. $485,000 $305,000 -37.1% 0.0%
First State Bank $305,000 n/a 0.0%
HANSCOM $305,000 n/a 0.0%
Frontier Bank $620,000 $280,000 -54.8% 0.0%
Notre Dame Federal Credit Union Corporation $90,000 $275,000 205.6% 0.0%
Signature Federal Credit Union $275,000 n/a 0.0%
STEARNS LENDING, LLC $2,305,000 $275,000 -88.1% 0.0%
American National Bank $265,000 n/a 0.0%
DEEPHAVEN MORTGAGE LLC $265,000 n/a 0.0%
DIGITAL Federal Credit Union $75,000 $265,000 253.3% 0.0%
Jonah Bank of Wyoming $205,000 $265,000 29.3% 0.0%
RiverWood Bank $255,000 n/a 0.0%
SUN WEST MORTGAGE COMPANY, INC. $1,945,000 $255,000 -86.9% 0.0%
BOKF $1,000,000 $245,000 -75.5% 0.0%
DOMINION FINANCIAL SERVICES, LLC $245,000 n/a 0.0%
EASTMAN $245,000 n/a 0.0%
Home Federal Savings & Loan Association of Grand Island $245,000 n/a 0.0%
LAND HOME FINANCIAL SERVICES, INC. $515,000 $235,000 -54.4% 0.0%
LENDSURE MORTGAGE CORP. $235,000 n/a 0.0%
Low VA Rates, LLC $1,570,000 $235,000 -85.0% 0.0%
Semper Home Loans, Inc. $235,000 n/a 0.0%
City National Bank $225,000 n/a 0.0%
INLAND BANK & TRUST $545,000 $225,000 -58.7% 0.0%
Western State Bank $325,000 $225,000 -30.8% 0.0%
NOVATION CREDIT UNION $215,000 n/a 0.0%
Quontic Bank $215,000 n/a 0.0%
STAR ONE CREDIT UNION $305,000 $215,000 -29.5% 0.0%
Citizens Bank Minnesota $180,000 n/a 0.0%
ARIZONA $175,000 n/a 0.0%
Ixonia Bank $805,000 $175,000 -78.3% 0.0%
MORIA DEVELOPMENT, INC. $430,000 $175,000 -59.3% 0.0%
Bank Forward $165,000 n/a 0.0%
FirstBank of Nebraska $165,000 n/a 0.0%
SIRVA MORTGAGE, INC. $1,150,000 $165,000 -85.7% 0.0%
QUORUM FEDERAL CREDIT UNION $95,000 $155,000 63.2% 0.0%
AMERICAN FINANCIAL RESOURCES, INC. $205,000 $145,000 -29.3% 0.0%
Grand Bank for Savings, FSB $225,000 $145,000 -35.6% 0.0%
Hometown Lenders, Inc. $290,000 $145,000 -50.0% 0.0%
STAR USA FEDERAL CREDIT UNION $15,000 $140,000 833.3% 0.0%
AmeriHome Mortgage Company, LLC $4,155,000 $135,000 -96.8% 0.0%
Bankers' Bank $135,000 n/a 0.0%
CHARTER WEST BANK $930,000 $135,000 -85.5% 0.0%
ACADEMY MORTGAGE CORPORATION $800,000 $125,000 -84.4% 0.0%
MASON MCDUFFIE MORTGAGE CORPORATION $125,000 n/a 0.0%
Royal Credit Union $125,000 n/a 0.0%
Willamette Valley Bank $515,000 $125,000 -75.7% 0.0%
HOMESIDE FINANCIAL, LLC $115,000 n/a 0.0%
LIBERTY HOME MORTGAGE CORPORATION $115,000 n/a 0.0%
Operating Engineers Local Union #3 $115,000 n/a 0.0%
MEMBER FIRST MORTGAGE, LLC $105,000 n/a 0.0%
The State Bank of Faribault $95,000 n/a 0.0%
FIRST COLONY MORTGAGE CORPORATION $85,000 n/a 0.0%
N.W. Iowa Credit Union $75,000 n/a 0.0%
Chickasaw Community Bank $2,640,000 $65,000 -97.5% 0.0%
Centier Bank $110,000 $60,000 -45.5% 0.0%
USAlliance Federal Credit Union $55,000 n/a 0.0%
Home Loan Investment Bank, F.S.B. $25,000 $50,000 100.0% 0.0%
Lakeview Community Capital, LLC $1,115,000 $45,000 -96.0% 0.0%
CREDIT HUMAN FEDERAL CREDIT UNION $45,000 $35,000 -22.2% 0.0%
State Department Federal Credit Union $35,000 $35,000 0.0% 0.0%
PARSONS Federal Credit Union $25,000 n/a 0.0%

South Dakota's top lender by overall market share is Plains Commerce Bank, with 9.8% market share. In second place, with 4.8%, is First PREMIER Bank, having originated $274,190,000 in loans. In third place, with 4.5%, is BLACK HILLS FEDERAL CREDIT UNION, having originated $255,290,000 in loans. In fourth place, with 4.0%, is First Bank & Trust, having originated $228,925,000 in loans. In fifth place, with 4.0%, is First Dakota National Bank, having originated $228,640,000 in loans.

South Dakota Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 12,132 $3,907,640,000 $322,094
Cash Out Refi 3,157 $702,555,000 $222,539
Refi 2,697 $785,365,000 $291,199
Home Improvement 2,213 $190,695,000 $86,170
Other 1,127 $137,415,000 $121,930

South Dakota's most frequently cited loan purpose was Home Purchase, with 12,132 originations. The 2nd most popular reason was Cash Out Refi, with 3,157 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
5-6% 5,117 $1,227,765,000 $239,938
4-5% 4,893 $1,371,485,000 $280,295
3-4% 4,664 $1,557,500,000 $333,941
6-7% 2,553 $581,185,000 $227,648
2.5-3% 1,205 $316,705,000 $262,826
7-8% 642 $89,010,000 $138,645
<2.5% 484 $111,530,000 $230,434
Over 8% 262 $20,530,000 $78,359

During 2022, South Dakota's most frequently originated rate bucket was 5-6%, with 5,117 originations.

Loan Sizing (South Dakota MSA)

Loan Size Originations Total Value Average Loan
$200k-400k 8,027 $2,239,435,000 $278,988
$100k-200k 6,011 $905,265,000 $150,601
$100,000 or less 4,815 $266,195,000 $55,285
$400k-600k 1,629 $774,135,000 $475,221
$600k-1000k 597 $425,045,000 $711,968
$Over $1MM 247 $1,113,595,000 $4,508,482

South Dakota's loan sizing saw the bucket of loans from $200k-400k with 8,027 originations, totaling $2,239,435,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 7,711 $2,231,095,000 $289,339
60-80% 5,262 $1,974,210,000 $375,182
Under 20% 2,175 $124,735,000 $57,349
20-40% 2,154 $286,530,000 $133,022
40-60% 2,108 $528,700,000 $250,806
Over 100% 301 $106,135,000 $352,608

South Dakota's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 7,711 originations, totaling $2,231,095,000 in origination value.