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
6.62%
for the week of 2023-09-21, compared to the national average of
7.19% for the same period.
The average rate for the prior week (2023-09-14) was
6.81% and
one month ago for the week of 2023-08-17, the
average rate was 6.82%.
South Dakota's average rate one year ago was 5.85%.
For refis of the same type during the week of 2023-09-21, the average rate
was 6.7%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2023-09-21 | 7.19% |
| South Dakota 30 Year Fixed Rate | 2023-09-21 | 6.62% |
| South Dakota 30 Year Fixed Rate Refi | 2023-09-21 | 6.7% |
| South Dakota 15 Year Fixed Rate | 2023-09-21 | 6.56% |
| South Dakota 15 Year Fixed Rate Refi | 2023-09-21 | 5.82% |
| South Dakota 30 Year FHA | 2023-09-21 | 6.98% |
| South Dakota 30 Year FHA Refi | 2023-09-21 | 7.04% |
| South Dakota 30 Year USDA | 2023-09-21 | 6.53% |
| South Dakota 30 Year USDA Refi | 2023-09-21 | 7.22% |
| South Dakota 30 Year VA | 2023-09-21 | 6.38% |
| South Dakota 30 Year VA Refi | 2023-09-21 | 4.82% |
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.).
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.