South Dakota Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in South Dakota averaged
6.4%
for the week of 2025-04-10, compared to the national average of
6.62% for the same period.
The average rate for the prior week (2025-04-03) was
6.42% and
one month ago for the week of 2025-03-06, the
average rate was 6.51%.
South Dakota's average rate one year ago was 6.5%.
For refis of the same type during the week of 2025-04-10, the average rate
was 7.01%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2025-04-10 | 6.62% |
| South Dakota 30 Year Fixed Rate | 2025-04-10 | 6.4% |
| South Dakota 30 Year Fixed Rate Refi | 2025-04-10 | 7.01% |
| South Dakota 15 Year Fixed Rate | 2025-04-10 | 6.67% |
| South Dakota 15 Year Fixed Rate Refi | 2025-04-10 | 5.82% |
| South Dakota 30 Year FHA | 2025-04-10 | 6.24% |
| South Dakota 30 Year FHA Refi | 2025-04-10 | 6.07% |
| South Dakota 30 Year USDA | 2025-04-10 | 6.03% |
| South Dakota 30 Year USDA Refi | 2025-04-10 | 6.25% |
| South Dakota 30 Year VA | 2025-04-10 | 6.41% |
| South Dakota 30 Year VA Refi | 2025-04-10 | 5.78% |
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.).
South Dakota Average Closing Costs & Other Stats
South Dakota's 166 lenders originated 15,994
loans during 2024. The total origination value was $4,079,820,000, with an average loan value of
$255,084.
South Dakota's average closing costs are $5,022.
The top South Dakota lender as defined by loan originations is Plains Commerce Bank, with
946 loans originated. Their average total fees are
$5,877, which is $441
higher than the next largest lender,
First Bank & Trust.
The lowest fee South Dakota lenders (with over 10 loans originated) are
First Dakota National Bank ($3,015), Flagstar Bank, FSB ($3,260), NAVY FEDERAL CREDIT UNION ($3,802), First International Bank & Trust ($3,843) and U.S. Bank ($3,865).
The lowest rate South Dakota lenders (with over 10 loans originated) are
SIOUXLAND FEDERAL CREDIT UNION (6.21%), Central Bank (6.25%), SIOUX FALLS (6.30%), NAVY FEDERAL CREDIT UNION (6.30%) and American Bank & Trust (6.31%).
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 | 2023 Loan Value | 2024 Loan Value | % Change | 2024 Market Share |
|---|---|---|---|---|
| Plains Commerce Bank | $422,735,000 | $514,815,000 | 21.8% | 12.6% |
| First Bank & Trust | $192,915,000 | $218,770,000 | 13.4% | 5.4% |
| First Dakota National Bank | $154,130,000 | $188,185,000 | 22.1% | 4.6% |
| First PREMIER Bank | $141,670,000 | $187,450,000 | 32.3% | 4.6% |
| BLACK HILLS FEDERAL CREDIT UNION | $143,030,000 | $166,810,000 | 16.6% | 4.1% |
| CMG MORTGAGE, INC. | $161,055,000 | $158,885,000 | -1.3% | 3.9% |
| BANKWEST, INC. | $62,055,000 | $123,445,000 | 98.9% | 3.0% |
| QUICKEN LOANS, LLC | $89,885,000 | $121,400,000 | 35.1% | 3.0% |
| UNITED WHOLESALE MORTGAGE, LLC | $81,215,000 | $110,330,000 | 35.8% | 2.7% |
| Dacotah Bank | $89,850,000 | $100,250,000 | 11.6% | 2.5% |
| American Bank & Trust | $143,575,000 | $89,545,000 | -37.6% | 2.2% |
| First International Bank & Trust | $66,945,000 | $87,595,000 | 30.8% | 2.1% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $77,925,000 | $86,185,000 | 10.6% | 2.1% |
| SIOUX FALLS | $74,585,000 | $75,205,000 | 0.8% | 1.8% |
| U.S. Bank | $60,490,000 | $74,915,000 | 23.8% | 1.8% |
| Mortgage Research Center, LLC | $45,065,000 | $62,345,000 | 38.3% | 1.5% |
| Central Bank | $88,745,000 | $60,310,000 | -32.0% | 1.5% |
| First Interstate Bank | $63,750,000 | $60,010,000 | -5.9% | 1.5% |
| First National Bank of Omaha | $61,165,000 | $54,820,000 | -10.4% | 1.3% |
| CORTRUST MORTGAGE, INC. | $44,670,000 | $53,800,000 | 20.4% | 1.3% |
| The First National Bank in Sioux Falls | $45,570,000 | $50,325,000 | 10.4% | 1.2% |
| GUARANTEED RATE, INC. | $38,955,000 | $50,305,000 | 29.1% | 1.2% |
| SERVICE FIRST FEDERAL CREDIT UNION | $38,070,000 | $45,050,000 | 18.3% | 1.1% |
| Granite Community Bank | $45,000,000 | n/a | 1.1% | |
| Pioneer Bank & Trust | $29,555,000 | $44,910,000 | 52.0% | 1.1% |
| Reliabank Dakota | $47,720,000 | $42,540,000 | -10.9% | 1.0% |
| Cornerstone Bank | $43,945,000 | $41,120,000 | -6.4% | 1.0% |
| CROSSCOUNTRY MORTGAGE, LLC | $42,155,000 | $38,905,000 | -7.7% | 1.0% |
| Farm Credit Mid-America, ACA | $29,850,000 | $38,645,000 | 29.5% | 0.9% |
| First National Bank | $39,085,000 | $36,975,000 | -5.4% | 0.9% |
| PENNYMAC LOAN SERVICES, LLC | $25,935,000 | $36,810,000 | 41.9% | 0.9% |
| Gateway First Bank | $73,935,000 | $33,335,000 | -54.9% | 0.8% |
| Wells Fargo Bank | $49,655,000 | $33,270,000 | -33.0% | 0.8% |
| Minnwest Bank | $27,635,000 | $30,850,000 | 11.6% | 0.8% |
| CU MORTGAGE DIRECT, LLC | $34,750,000 | $30,430,000 | -12.4% | 0.7% |
| Black Hills Community Bank | $30,220,000 | $30,095,000 | -0.4% | 0.7% |
| CorTrust Bank | $29,285,000 | $29,645,000 | 1.2% | 0.7% |
| FREEDOM MORTGAGE CORPORATION | $6,460,000 | $28,920,000 | 347.7% | 0.7% |
| CBRE MULTIFAMILY CAPITAL, INC. | $26,900,000 | n/a | 0.7% | |
| NEWREZ LLC | $8,530,000 | $25,155,000 | 194.9% | 0.6% |
| American State Bank | $18,465,000 | $24,790,000 | 34.3% | 0.6% |
| Century Mortgage Company DBA Century Lending Company | $6,050,000 | $23,240,000 | 284.1% | 0.6% |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $17,375,000 | $20,125,000 | 15.8% | 0.5% |
| JPMorgan Chase Bank | $9,535,000 | $18,700,000 | 96.1% | 0.5% |
| The Security National Bank of Sioux City, Iowa | $10,065,000 | $16,250,000 | 61.5% | 0.4% |
| Security National Bank of South Dakota | $6,320,000 | $15,615,000 | 147.1% | 0.4% |
| LOANDEPOT.COM, LLC | $10,555,000 | $15,425,000 | 46.1% | 0.4% |
| IOWA BANKERS MORTGAGE CORPORATION | $9,760,000 | $15,350,000 | 57.3% | 0.4% |
| Flagstar Bank, FSB | $12,250,000 | $15,130,000 | 23.5% | 0.4% |
| Bremer Bank | $1,510,000 | $14,845,000 | 883.1% | 0.4% |
| Security First Bank | $9,750,000 | $14,045,000 | 44.1% | 0.3% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $6,550,000 | $13,215,000 | 101.8% | 0.3% |
| WALKER & DUNLOP, LLC | $35,020,000 | $12,715,000 | -63.7% | 0.3% |
| HIGHMARK | $12,595,000 | $12,690,000 | 0.8% | 0.3% |
| NAVY FEDERAL CREDIT UNION | $11,380,000 | $12,600,000 | 10.7% | 0.3% |
| Bank Midwest | $12,735,000 | $12,460,000 | -2.2% | 0.3% |
| Mr. Cooper ( Nationstar Mortgage ) | $7,870,000 | $12,420,000 | 57.8% | 0.3% |
| USAA Federal Savings Bank | $19,490,000 | $12,030,000 | -38.3% | 0.3% |
| LAKEVIEW LOAN SERVICING, LLC | $2,030,000 | $11,310,000 | 457.1% | 0.3% |
| Citizens Bank | $7,820,000 | $9,735,000 | 24.5% | 0.2% |
| Servion, Inc. | $11,690,000 | $9,540,000 | -18.4% | 0.2% |
| TOWNE MORTGAGE COMPANY | $8,600,000 | n/a | 0.2% | |
| VOYAGE FEDERAL CREDIT UNION | $9,660,000 | $8,600,000 | -11.0% | 0.2% |
| BROKER SOLUTIONS, INC. | $4,825,000 | $8,385,000 | 73.8% | 0.2% |
| West Gate Bank | $3,350,000 | $8,095,000 | 141.6% | 0.2% |
| Northern Hills FCU | $8,580,000 | $8,030,000 | -6.4% | 0.2% |
| CARDINAL FINANCIAL | $2,215,000 | $7,995,000 | 260.9% | 0.2% |
| NBKC BANK | $2,495,000 | $7,860,000 | 215.0% | 0.2% |
| BMO Harris Bank | $5,595,000 | $7,740,000 | 38.3% | 0.2% |
| BERKADIA COMMERCIAL MORTGAGE LLC | $3,365,000 | $7,325,000 | 117.7% | 0.2% |
| SENTINEL FEDERAL CREDIT UNION | $7,275,000 | n/a | 0.2% | |
| NEW DAY FINANCIAL, LLC | $4,425,000 | $7,220,000 | 63.2% | 0.2% |
| Discover Bank | $7,650,000 | $6,970,000 | -8.9% | 0.2% |
| Morgan Stanley Private Bank | $3,515,000 | $6,335,000 | 80.2% | 0.2% |
| UNION HOME MORTGAGE CORP. | $495,000 | $6,285,000 | 1,169.7% | 0.2% |
| Bell Bank | $6,925,000 | $6,230,000 | -10.0% | 0.2% |
| Rivers Edge Bank | $6,105,000 | $5,935,000 | -2.8% | 0.1% |
| PLANET HOME LENDING, LLC | $1,040,000 | $5,810,000 | 458.7% | 0.1% |
| Northwest Bank | $7,355,000 | $5,480,000 | -25.5% | 0.1% |
| 21ST MORTGAGE CORPORATION | $2,230,000 | $5,460,000 | 144.8% | 0.1% |
| SIOUXLAND FEDERAL CREDIT UNION | $3,860,000 | $5,345,000 | 38.5% | 0.1% |
| UBS Bank USA | $5,295,000 | n/a | 0.1% | |
| AMERISAVE MORTGAGE CORPORATION | $6,425,000 | $5,265,000 | -18.1% | 0.1% |
| SIOUX EMPIRE | $4,660,000 | $5,230,000 | 12.2% | 0.1% |
| WaterStone Bank, SSB | $5,185,000 | n/a | 0.1% | |
| GUILD MORTGAGE COMPANY | $2,720,000 | $5,030,000 | 84.9% | 0.1% |
| The Federal Savings Bank | $4,735,000 | $5,010,000 | 5.8% | 0.1% |
| Security Savings Bank | $3,280,000 | $4,420,000 | 34.8% | 0.1% |
| First Savings Bank | $1,135,000 | $4,345,000 | 282.8% | 0.1% |
| First Federal Bank | $1,960,000 | $3,880,000 | 98.0% | 0.1% |
| AmeriHome Mortgage Company, LLC | $1,585,000 | $3,785,000 | 138.8% | 0.1% |
| MID AMERICA MORTGAGE, INC. | $5,240,000 | $3,765,000 | -28.1% | 0.1% |
| The Huntington National Bank | $11,690,000 | $3,670,000 | -68.6% | 0.1% |
| OPEN MORTGAGE, LLC | $2,130,000 | $3,615,000 | 69.7% | 0.1% |
| PRIMARY RESIDENTIAL MORTGAGE, INC. | $7,600,000 | $3,610,000 | -52.5% | 0.1% |
| RESIDENTIAL BANCORP | $140,000 | $3,545,000 | 2,432.1% | 0.1% |
| Carrington Mortgage Services, LLC | $2,780,000 | $3,290,000 | 18.3% | 0.1% |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | $6,740,000 | $3,150,000 | -53.3% | 0.1% |
| Prosperity Home Mortgage, LLC | $4,225,000 | $3,120,000 | -26.2% | 0.1% |
| VILLAGE CAPITAL MORTGAGE | $985,000 | $3,120,000 | 216.8% | 0.1% |
| Heritage Bank | $225,000 | $3,095,000 | 1,275.6% | 0.1% |
| Pioneer Bank | $6,830,000 | $3,025,000 | -55.7% | 0.1% |
| AMERICAN FINANCIAL RESOURCES, INC. | $885,000 | $3,020,000 | 241.2% | 0.1% |
| Flanagan State Bank | $3,825,000 | $2,985,000 | -22.0% | 0.1% |
| GREENSTATE CREDIT UNION | $380,000 | $2,875,000 | 656.6% | 0.1% |
| AgCountry Farm Credit Services, FLCA | $1,455,000 | $2,855,000 | 96.2% | 0.1% |
| Bank of America | $3,765,000 | $2,770,000 | -26.4% | 0.1% |
| First Western Bank & Trust | $10,940,000 | $2,580,000 | -76.4% | 0.1% |
| Primebank | $10,270,000 | $2,570,000 | -75.0% | 0.1% |
| Dakota Community Bank & Trust | $1,785,000 | $2,525,000 | 41.5% | 0.1% |
| Stifel Bank and Trust | $890,000 | $2,440,000 | 174.2% | 0.1% |
| V.I.P. MORTGAGE, INC. | $835,000 | $2,420,000 | 189.8% | 0.1% |
| DAS Acquisition Company, LLC | $7,365,000 | $2,350,000 | -68.1% | 0.1% |
| PHH Mortgage Corporation | $970,000 | $2,340,000 | 141.2% | 0.1% |
| Midwest Heritage Bank FSB | $1,945,000 | $2,335,000 | 20.1% | 0.1% |
| American Mortgage & Equity Consultants, Inc. | $4,560,000 | $2,175,000 | -52.3% | 0.1% |
| CHURCHILL MORTGAGE CORPORATION | $2,590,000 | $2,175,000 | -16.0% | 0.1% |
| Peoples Bank | $5,385,000 | $2,145,000 | -60.2% | 0.1% |
| Premier Bank | $1,190,000 | $2,105,000 | 76.9% | 0.1% |
| Coastal Community Bank | $2,585,000 | $2,100,000 | -18.8% | 0.1% |
| The Loan Store, Inc. | $2,085,000 | n/a | 0.1% | |
| Liberty National Bank | $3,090,000 | $2,045,000 | -33.8% | 0.1% |
| Barrington Bank & Trust Company, N.A. | $1,600,000 | $2,025,000 | 26.6% | 0.0% |
| PENTAGON FEDERAL CREDIT UNION | $1,520,000 | $2,010,000 | 32.2% | 0.0% |
| Arvest Bank | $750,000 | $1,920,000 | 156.0% | 0.0% |
| MOVEMENT MORTGAGE, LLC | $1,240,000 | $1,885,000 | 52.0% | 0.0% |
| ZILLOW HOME LOANS, LLC | $2,145,000 | $1,880,000 | -12.4% | 0.0% |
| Deere Employees Credit Union | $1,650,000 | $1,845,000 | 11.8% | 0.0% |
| Bridgewater Bank | $1,815,000 | n/a | 0.0% | |
| AMERICAN FINANCING CORPORATION | $1,230,000 | $1,795,000 | 45.9% | 0.0% |
| BAY EQUITY LLC | $955,000 | $1,730,000 | 81.2% | 0.0% |
| SIRVA MORTGAGE, INC. | $275,000 | $1,730,000 | 529.1% | 0.0% |
| Citibank | $85,000 | $1,675,000 | 1,870.6% | 0.0% |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $1,330,000 | $1,625,000 | 22.2% | 0.0% |
| Paramount Residential Mortgage Group, Inc. | $1,270,000 | $1,625,000 | 28.0% | 0.0% |
| BETTER MORTGAGE CORPORATION | $1,685,000 | $1,570,000 | -6.8% | 0.0% |
| Pinnacle Bank | $1,255,000 | $1,555,000 | 23.9% | 0.0% |
| TRIAD FINANCIAL SERVICES, INC. | $2,255,000 | $1,545,000 | -31.5% | 0.0% |
| Equity Prime Mortgage LLC | $405,000 | $1,535,000 | 279.0% | 0.0% |
| Raymond James Bank | $2,570,000 | $1,470,000 | -42.8% | 0.0% |
| Hilltop National Bank | $1,455,000 | n/a | 0.0% | |
| PLAZA HOME MORTGAGE, INC. | $1,155,000 | $1,445,000 | 25.1% | 0.0% |
| BankFirst | $1,445,000 | $1,440,000 | -0.3% | 0.0% |
| HOMESIDE FINANCIAL, LLC | $240,000 | $1,440,000 | 500.0% | 0.0% |
| KS StateBank | $1,425,000 | n/a | 0.0% | |
| Figure Lending LLC | $2,195,000 | $1,405,000 | -36.0% | 0.0% |
| Bank of Dixon County | $1,085,000 | $1,335,000 | 23.0% | 0.0% |
| Summit Mortgage Corporation | $1,795,000 | $1,300,000 | -27.6% | 0.0% |
| WINGS FINANCIAL | $1,395,000 | $1,230,000 | -11.8% | 0.0% |
| FIRST COMMUNITY MORTGAGE, INC. | $4,165,000 | $1,225,000 | -70.6% | 0.0% |
| PNC Bank | $1,615,000 | $1,215,000 | -24.8% | 0.0% |
| Gate City Bank | $2,010,000 | $1,200,000 | -40.3% | 0.0% |
| First Savings Bank | $1,135,000 | $1,195,000 | 5.3% | 0.0% |
| Midwest Bank | $3,900,000 | $1,195,000 | -69.4% | 0.0% |
| AIR ACADEMY | $1,155,000 | n/a | 0.0% | |
| OCMBC, INC. | $545,000 | $1,125,000 | 106.4% | 0.0% |
| CASTLE & COOKE MORTGAGE, LLC | $1,110,000 | n/a | 0.0% | |
| Frandsen Bank & Trust | $505,000 | $1,075,000 | 112.9% | 0.0% |
| Bethpage Federal Credit Union | $475,000 | $1,055,000 | 122.1% | 0.0% |
| CHARTER WEST BANK | $1,085,000 | $1,055,000 | -2.8% | 0.0% |
| HOMEOWNERS FINANCIAL GROUP USA, LLC | $1,935,000 | $1,025,000 | -47.0% | 0.0% |
| GUARANTEED RATE AFFINITY, LLC | $540,000 | $1,020,000 | 88.9% | 0.0% |
| CANOPY MORTGAGE, LLC | $1,010,000 | n/a | 0.0% | |
| Leader Bank | $510,000 | $1,010,000 | 98.0% | 0.0% |
| Charles Schwab Bank, SSB | $1,595,000 | $985,000 | -38.2% | 0.0% |
| CAPITAL CREDIT UNION | $980,000 | n/a | 0.0% | |
| HOMESTEAD FUNDING CORP. | $395,000 | $960,000 | 143.0% | 0.0% |
| FOUR POINTS | $330,000 | $955,000 | 189.4% | 0.0% |
| FINANCE OF AMERICA REVERSE LLC | $1,845,000 | $910,000 | -50.7% | 0.0% |
| VERIDIAN CREDIT UNION | $37,170,000 | $885,000 | -97.6% | 0.0% |
| Jonah Bank of Wyoming | $870,000 | n/a | 0.0% | |
| SUN WEST MORTGAGE COMPANY, INC. | $870,000 | n/a | 0.0% | |
| Magnolia Bank | $710,000 | $860,000 | 21.1% | 0.0% |
| Availa Bank | $825,000 | n/a | 0.0% | |
| S1L, Inc. | $345,000 | $825,000 | 139.1% | 0.0% |
| COMPEER FINANCIAL, FLCA | $490,000 | $780,000 | 59.2% | 0.0% |
| Ally Bank | $1,165,000 | $735,000 | -36.9% | 0.0% |
| First Financial Bank | $715,000 | n/a | 0.0% | |
| POLARIS HOME FUNDING CORP. | $2,145,000 | $715,000 | -66.7% | 0.0% |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $1,255,000 | $715,000 | -43.0% | 0.0% |
| Alerus Financial | $710,000 | n/a | 0.0% | |
| Merchants Bank | $255,000 | $700,000 | 174.5% | 0.0% |
| Farmers Bank & Trust | $690,000 | n/a | 0.0% | |
| Telco Triad Community Credit Union | $845,000 | $690,000 | -18.3% | 0.0% |
| Pinnacle Bank - Wyoming | $715,000 | $645,000 | -9.8% | 0.0% |
| Old National Bank | $635,000 | n/a | 0.0% | |
| Bank of England | $365,000 | $625,000 | 71.2% | 0.0% |
| Alliance Bank | $155,000 | $610,000 | 293.5% | 0.0% |
| AMERICAN INTERNET MORTGAGE, INC. | $610,000 | n/a | 0.0% | |
| M&T Bank | $615,000 | $600,000 | -2.4% | 0.0% |
| Ixonia Bank | $590,000 | $585,000 | -0.8% | 0.0% |
| ALLIANT CREDIT UNION | $275,000 | $580,000 | 110.9% | 0.0% |
| ANGEL OAK MORTGAGE SOLUTIONS LLC | $1,330,000 | $580,000 | -56.4% | 0.0% |
| Florida Capital Bank | $580,000 | n/a | 0.0% | |
| GENEVA FINANCIAL, LLC | $295,000 | $570,000 | 93.2% | 0.0% |
| LEADERONE FINANCIAL CORPORATION | $195,000 | $560,000 | 187.2% | 0.0% |
| CORNERSTONE HOME LENDING, INC. | $525,000 | $555,000 | 5.7% | 0.0% |
| National Bank of Commerce | $555,000 | n/a | 0.0% | |
| LENOX FINANCIAL MORTGAGE CORPORATION | $550,000 | n/a | 0.0% | |
| Union State Bank of Fargo | $5,785,000 | $545,000 | -90.6% | 0.0% |
| Sierra Pacific Mortgage Company, Inc. | $540,000 | n/a | 0.0% | |
| LONGBRIDGE FINANCIAL, LLC | $455,000 | $535,000 | 17.6% | 0.0% |
| OceanFirst Bank | $535,000 | n/a | 0.0% | |
| Waterstone Mortgage Corporation | $225,000 | $535,000 | 137.8% | 0.0% |
| Sunflower Bank | $470,000 | $530,000 | 12.8% | 0.0% |
| Peoples State Bank of Plainview | $260,000 | $495,000 | 90.4% | 0.0% |
| NexBank | $105,000 | $490,000 | 366.7% | 0.0% |
| University Bank | $465,000 | n/a | 0.0% | |
| Baxter Credit Union | $625,000 | $435,000 | -30.4% | 0.0% |
| American Airlines Federal Credit Union | $425,000 | n/a | 0.0% | |
| GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION | $425,000 | n/a | 0.0% | |
| Heritage Bank | $225,000 | $425,000 | 88.9% | 0.0% |
| American Bank Center | $910,000 | $410,000 | -54.9% | 0.0% |
| Starion Bank | $1,305,000 | $405,000 | -69.0% | 0.0% |
| Stride Bank | $405,000 | n/a | 0.0% | |
| Texana Bank | $405,000 | n/a | 0.0% | |
| MORTGAGE SOLUTIONS OF COLORADO, LLC | $265,000 | $400,000 | 50.9% | 0.0% |
| AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC | $395,000 | n/a | 0.0% | |
| Premier Credit Union | $390,000 | n/a | 0.0% | |
| Northpointe Bank | $1,150,000 | $380,000 | -67.0% | 0.0% |
| Brighton Bank | $375,000 | n/a | 0.0% | |
| Western State Bank | $215,000 | $375,000 | 74.4% | 0.0% |
| FNB BANK | $365,000 | n/a | 0.0% | |
| GOLDEN PLAINS | $365,000 | n/a | 0.0% | |
| HomeTown Bank | $605,000 | $365,000 | -39.7% | 0.0% |
| Pioneer Bank | $6,830,000 | $365,000 | -94.7% | 0.0% |
| TOWN AND COUNTRY Credit Union | $780,000 | $365,000 | -53.2% | 0.0% |
| Center National Bank | $345,000 | n/a | 0.0% | |
| Truist | $1,990,000 | $345,000 | -82.7% | 0.0% |
| EMBRACE HOME LOANS, INC. | $335,000 | n/a | 0.0% | |
| Lakeview Community Capital, LLC | $265,000 | $325,000 | 22.6% | 0.0% |
| Quontic Bank | $520,000 | $325,000 | -37.5% | 0.0% |
| RAILWAY CREDIT UNION | $320,000 | n/a | 0.0% | |
| Lincoln FSB of Nebraska | $315,000 | n/a | 0.0% | |
| PREMIA MORTGAGE, LLC | $1,845,000 | $315,000 | -82.9% | 0.0% |
| AMERICAN FINANCIAL NETWORK, INC. | $305,000 | $310,000 | 1.6% | 0.0% |
| FARMERS INSURANCE GROUP FEDERAL CREDIT UNION | $310,000 | n/a | 0.0% | |
| Cornerstone State Bank | $305,000 | n/a | 0.0% | |
| Opportunity Bank of Montana | $295,000 | $305,000 | 3.4% | 0.0% |
| Nations Lending Corporation | $355,000 | $300,000 | -15.5% | 0.0% |
| Great Southern Bank | $400,000 | $280,000 | -30.0% | 0.0% |
| ARC HOME LLC | $265,000 | n/a | 0.0% | |
| LIBERTY FIRST | $265,000 | n/a | 0.0% | |
| THRIVENT Federal Credit Union | $685,000 | $265,000 | -61.3% | 0.0% |
| BankVista | $775,000 | $255,000 | -67.1% | 0.0% |
| GARDNER FINANCIAL SERVICES, LTD. | $255,000 | n/a | 0.0% | |
| Grand Bank for Savings, FSB | $295,000 | $255,000 | -13.6% | 0.0% |
| TEACHERS | $255,000 | n/a | 0.0% | |
| Willamette Valley Bank | $340,000 | $255,000 | -25.0% | 0.0% |
| Bank | $245,000 | n/a | 0.0% | |
| COMMUNITYAMERICA | $195,000 | $245,000 | 25.6% | 0.0% |
| BNC National Bank | $960,000 | $235,000 | -75.5% | 0.0% |
| USAlliance Federal Credit Union | $175,000 | $230,000 | 31.4% | 0.0% |
| DOMINION FINANCIAL SERVICES, LLC | $145,000 | $225,000 | 55.2% | 0.0% |
| Devon Bank | $215,000 | n/a | 0.0% | |
| A&D Mortgage LLC | $615,000 | $205,000 | -66.7% | 0.0% |
| First United Bank and Trust Company | $205,000 | n/a | 0.0% | |
| TEXAS TECH | $345,000 | $205,000 | -40.6% | 0.0% |
| The State Bank of Faribault | $195,000 | n/a | 0.0% | |
| Commerce Home Mortgage, Inc. | $1,450,000 | $185,000 | -87.2% | 0.0% |
| Community Mortgage Banc Corporation | $725,000 | $175,000 | -75.9% | 0.0% |
| COMPASS MORTGAGE, INC. | $175,000 | n/a | 0.0% | |
| CREDIT HUMAN FEDERAL CREDIT UNION | $165,000 | n/a | 0.0% | |
| SeaTrust Mortgage Company | $165,000 | n/a | 0.0% | |
| BOKF | $610,000 | $155,000 | -74.6% | 0.0% |
| CITIZENS EQUITY FIRST | $470,000 | $155,000 | -67.0% | 0.0% |
| WESCOM CENTRAL CREDIT UNION | $155,000 | n/a | 0.0% | |
| Citizens Alliance Bank | $145,000 | n/a | 0.0% | |
| NOVATION CREDIT UNION | $230,000 | $145,000 | -37.0% | 0.0% |
| QUORUM FEDERAL CREDIT UNION | $55,000 | $145,000 | 163.6% | 0.0% |
| EASTERN SAVINGS BANK | $135,000 | n/a | 0.0% | |
| Service Federal Credit Union | $435,000 | $135,000 | -69.0% | 0.0% |
| Deseret First Credit Union | $125,000 | n/a | 0.0% | |
| DIGITAL Federal Credit Union | $315,000 | $125,000 | -60.3% | 0.0% |
| Five Points Bank | $105,000 | n/a | 0.0% | |
| FIRST COMMUNITY CREDIT UNION | $940,000 | $100,000 | -89.4% | 0.0% |
| EVERETT FINANCIAL, INC. | $285,000 | $95,000 | -66.7% | 0.0% |
| MidWestOne Bank | $95,000 | n/a | 0.0% | |
| Wyoming Bank & Trust | $95,000 | n/a | 0.0% | |
| EASTMAN | $85,000 | n/a | 0.0% | |
| First Nebraska Bank | $85,000 | n/a | 0.0% | |
| Home Mortgage Alliance Corp | $75,000 | n/a | 0.0% | |
| Vermillion State Bank | $655,000 | $75,000 | -88.5% | 0.0% |
| Choice Financial Group | $1,390,000 | $55,000 | -96.0% | 0.0% |
| First National Bank of America | $55,000 | n/a | 0.0% | |
| Toyota Financial Savings Bank | $55,000 | n/a | 0.0% | |
| Signature Federal Credit Union | $35,000 | $35,000 | 0.0% | 0.0% |
| SPIRE Credit Union | $35,000 | n/a | 0.0% | |
| State Department Federal Credit Union | $15,000 | n/a | 0.0% |
South Dakota's top lender by overall market share is Plains Commerce Bank, with 12.6% market share. In second place, with 5.4%, is First Bank & Trust, having originated $218,770,000 in loans. In third place, with 4.6%, is First Dakota National Bank, having originated $188,185,000 in loans. In fourth place, with 4.6%, is First PREMIER Bank, having originated $187,450,000 in loans. In fifth place, with 4.1%, is BLACK HILLS FEDERAL CREDIT UNION, having originated $166,810,000 in loans.
South Dakota Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 9,537 | $2,936,455,000 | $307,901 |
| Refi | 1,951 | $542,135,000 | $277,875 |
| Cash Out Refi | 1,859 | $342,865,000 | $184,435 |
| Home Improvement | 1,477 | $132,325,000 | $89,590 |
| Other | 1,170 | $126,040,000 | $107,726 |
South Dakota's most frequently cited loan purpose was Home Purchase, with 9,537 originations. The 2nd most popular reason was Refi, with 1,951 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 5,721 | $1,722,675,000 | $301,114 |
| Over 8% | 3,125 | $379,875,000 | $121,560 |
| 5-6% | 2,652 | $791,960,000 | $298,627 |
| 7-8% | 2,495 | $692,395,000 | $277,513 |
| 4-5% | 207 | $54,705,000 | $264,275 |
| 2.5-3% | 68 | $3,340,000 | $49,118 |
| <2.5% | 65 | $3,445,000 | $53,000 |
| 3-4% | 9 | $1,535,000 | $170,556 |
During 2024, South Dakota's most frequently originated rate bucket was 6-7%, with 5,721 originations.
Loan Sizing (South Dakota MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $200k-400k | 6,427 | $1,826,875,000 | $284,250 |
| $100,000 or less | 3,841 | $211,085,000 | $54,956 |
| $100k-200k | 3,606 | $538,080,000 | $149,218 |
| $400k-600k | 1,451 | $687,035,000 | $473,491 |
| $600k-1000k | 518 | $367,270,000 | $709,015 |
| $Over $1MM | 151 | $449,475,000 | $2,976,656 |
South Dakota's loan sizing saw the bucket of loans from $200k-400k with 6,427 originations, totaling $1,826,875,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 5,900 | $1,770,050,000 | $300,008 |
| 60-80% | 2,769 | $971,135,000 | $350,717 |
| Under 20% | 2,097 | $147,165,000 | $70,179 |
| 20-40% | 1,893 | $267,705,000 | $141,418 |
| 40-60% | 1,246 | $353,270,000 | $283,523 |
| Over 100% | 273 | $99,915,000 | $365,989 |
South Dakota's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 5,900 originations, totaling $1,770,050,000 in origination value.