Butte County, SD Mortgage Lenders & HMDA Data, 2004
In 2004, lenders reported 685 mortgage applications in Butte County, SD totaling $52.0 million, up 11% from 2003. The average application was for $75,000, and applicants reported an average income of $45,000. 50% of applications resulted in an originated loan and 21% were denied. The most active lender was Wells Fargo Bank, NA, with 138 applications, followed by First Western Bank Sturgis and Countrywide Home Loans.
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| Years | 2025 2024 2023 2022 2021 2020 2019 2018 2017 2016 2015 2014 2013 2012 2011 2010 2009 2008 2007 2006 2005 2004 2003 |
| Total Number of Mortgage Applications | 685 |
| Total Mortgage Loan Application Amount | $52,007,000 |
| Average Mortgage Loan Application Amount | $75,000 |
| Highest Mortgage Loan Application Amount | $435,000 |
| Average Applicant Income | $45,000 |
| Highest Applicant Income | $2,965,000 |
Top Mortgage Lenders in Butte County, SD (2004)
Ranked by the number of mortgage applications each lender reported in Butte County, SD in 2004.
| # | Mortgage Lender | Mortgage Applications | Total Dollar Amount | Average Loan Amount | Average Applicant Income |
|---|---|---|---|---|---|
| 1 | Wells Fargo Bank, NA Des Moines, IA |
138 | $11,534,000 | $83,000 | $38,000 |
| 2 | First Western Bank Sturgis Sturgis, SD |
116 | $7,167,000 | $61,000 | $53,000 |
| 3 | Countrywide Home Loans Westlake Village, CA |
39 | $3,518,000 | $90,000 | $49,000 |
| 4 | Beneficial Elmhurst, IL |
38 | $3,004,000 | $79,000 | $47,000 |
| 5 | Pioneer Bank & Trust Spearfish, SD |
35 | $2,780,000 | $79,000 | $32,000 |
| 6 | Ameriquest Mortgage Company Orange, CA |
30 | $2,828,000 | $94,000 | $79,000 |
| 7 | Black Hills Federal Credit Union Rapid City, SD |
22 | $1,327,000 | $60,000 | $43,000 |
| 8 | Great Western Bank Watertown, SD |
19 | $1,739,000 | $91,000 | $48,000 |
| 9 | Suntrust Mortgage, Inc Richmond, VA |
14 | $1,027,000 | $73,000 | $35,000 |
| 10 | Merchants Bank, National Association Winona, MN |
13 | $878,000 | $67,000 | $37,000 |
The tables below break down 2004 mortgage applications in Butte County, SD by loan purpose, applicant race, loan type, outcome and denial reason. Click a column heading to sort.
Mortgage Loan Application Detail Totals for Butte County, SD in 2004
Loan Purpose |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Refinancing | 367 | $29,235,000 | $79,000 | $435,000 | $46,000 | $798,000 |
| Home Purchase | 264 | $21,007,000 | $79,000 | $334,000 | $43,000 | $2,965,000 |
| Home Improvement | 54 | $1,765,000 | $32,000 | $227,000 | $48,000 | $114,000 |
Applicant Race |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| White | 587 | $44,915,000 | $76,000 | $435,000 | $49,000 | $2,965,000 |
| Not Provided | 53 | $3,426,000 | $64,000 | $144,000 | $41,000 | $480,000 |
| Not applicable | 33 | $2,813,000 | $85,000 | $251,000 | $9,000 | $156,000 |
| American Indian or Alaskan Native | 4 | $330,000 | $82,000 | $129,000 | $35,000 | $42,000 |
| Hispanic | 4 | $212,000 | $53,000 | $70,000 | $34,000 | $74,000 |
| Native Hawaiian or Other Pacific Islander | 2 | $200,000 | $100,000 | $100,000 | $44,000 | $44,000 |
| Asian | 1 | $35,000 | $35,000 | $35,000 | $31,000 | $31,000 |
| Black or African American | 1 | $76,000 | $76,000 | $76,000 | $51,000 | $51,000 |
Loan Type |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 634 | $47,692,000 | $75,000 | $435,000 | $46,000 | $2,965,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 28 | $2,293,000 | $81,000 | $125,000 | $40,000 | $59,000 |
| VA-guaranteed (Veterans Administration) | 15 | $1,271,000 | $84,000 | $141,000 | $25,000 | $60,000 |
| FHA-insured (Federal Housing Administration) | 8 | $751,000 | $93,000 | $151,000 | $29,000 | $60,000 |
Outcome |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Loan Originated | 342 | $26,290,000 | $76,000 | $435,000 | $49,000 | $2,965,000 |
| Application Denied By Financial Institution | 142 | $10,250,000 | $72,000 | $320,000 | $45,000 | $221,000 |
| Application Withdrawn By Applicant | 74 | $6,137,000 | $82,000 | $160,000 | $55,000 | $709,000 |
| Application Approved But Not Accepted | 53 | $3,507,000 | $66,000 | $141,000 | $39,000 | $96,000 |
| Loan Purchased By The Institution | 53 | $4,341,000 | $81,000 | $251,000 | $20,000 | $156,000 |
| File Closed For Incompleteness | 21 | $1,482,000 | $70,000 | $141,000 | $57,000 | $480,000 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| Preapproval Denied by Financial Institution | 0 | $0 | $0 | $0 | $0 | $0 |
Denial Reason |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Other | 33 | $2,599,000 | $78,000 | $320,000 | $52,000 | $156,000 |
| Credit History | 21 | $1,367,000 | $65,000 | $160,000 | $46,000 | $96,000 |
| Credit Application Incomplete | 20 | $1,500,000 | $75,000 | $128,000 | $58,000 | $102,000 |
| Debt-To-Income Ratio | 17 | $1,085,000 | $63,000 | $128,000 | $29,000 | $90,000 |
| Collateral | 14 | $780,000 | $55,000 | $131,000 | $54,000 | $221,000 |
| Employment History | 1 | $110,000 | $110,000 | $110,000 | $24,000 | $24,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) loan application records that lenders file with the FFIEC each year, and count every application (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.
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