Black Hills Federal Credit Union Mortgage Lending & HMDA Data, 2022
In 2022, Black Hills Federal Credit Union of Rapid City, SD reported 1,714 mortgage applications totaling $359.8 million, down 7% from 2021. The average application was for $209,941, and applicants reported an average income of $116,895. 72% of its applications resulted in an originated loan and 11% were denied. Its largest markets were Rapid City, SD (1,009), Sioux Falls, SD (191) and Minneapolis-St. Paul-Bloomington, MN-WI (5) (applications in parentheses).
| Mortgage Company & Address | Black Hills Federal Credit Union Po Box 1420-225 Main St Rapid City, SD 57702 Tel #: available with data download |
| Federal Regulator | * available with data download |
| 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 | 1,714 |
| Total Mortgage Loan Application Amount | $359,840,000 |
| Average Mortgage Loan Application Amount | $209,941 |
| Highest Mortgage Loan Application Amount | $9,935,000 |
| Average Applicant Income | $116,895 |
| Highest Applicant Income | $7,900,000 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) records Black Hills Federal Credit Union filed with the FFIEC and count every application it reported (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.
| Metro Area | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Rapid City, SD | 1,009 | $ 188,665,000 | $ 186,982 | $ 107,000 |
| Outside any metro area | 481 | $ 100,925,000 | $ 209,823 | $ 116,779 |
| Sioux Falls, SD | 191 | $ 60,925,000 | $ 318,979 | $ 128,000 |
| Minneapolis-St. Paul-Bloomington, MN-WI | 5 | $ 2,205,000 | $ 441,000 | $ 202,000 |
| Phoenix-Mesa-Scottsdale, AZ | 4 | $ 1,100,000 | $ 275,000 | $ 75,000 |
| Sioux City, IA-NE-SD | 4 | $ 870,000 | $ 217,500 | $ 102,000 |
| Decatur, IL | 3 | $ 345,000 | $ 115,000 | $ 38,000 |
| Omaha-Council Bluffs, NE-IA | 2 | $ 430,000 | $ 215,000 | $ 82,000 |
| Roanoke, VA | 2 | $ 410,000 | $ 205,000 | $ 131,000 |
| Ames, IA | 1 | $ 305,000 | $ 305,000 | $ 0 |
| Beaumont-Port Arthur, TX | 1 | $ 165,000 | $ 165,000 | $ 97,000 |
| California-Lexington Park, MD | 1 | $ 205,000 | $ 205,000 | $ 145,000 |
| Cheyenne, WY | 1 | $ 385,000 | $ 385,000 | $ 124,000 |
| Houston-The Woodlands-Sugar Land, TX | 1 | $ 225,000 | $ 225,000 | $ 101,000 |
| Indianapolis-Carmel-Anderson, IN | 1 | $ 235,000 | $ 235,000 | $ 111,000 |
| Lake Havasu City-Kingman, AZ | 1 | $ 585,000 | $ 585,000 | $ 181,000 |
| Las Cruces, NM | 1 | $ 255,000 | $ 255,000 | $ 71,000 |
| Orlando-Kissimmee-Sanford, FL | 1 | $ 195,000 | $ 195,000 | $ 0 |
| Pocatello, ID | 1 | $ 135,000 | $ 135,000 | $ 27,000 |
| Punta Gorda, FL | 1 | $ 555,000 | $ 555,000 | $ 227,000 |
| Tampa-St. Petersburg-Clearwater, FL | 1 | $ 625,000 | $ 625,000 | $ 7,900,000 |
Mortgage Loan Application Detail Totals for Black Hills Federal Credit Union in 2022
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 |
|---|---|---|---|---|---|---|
| Home Improvement | 650 | $79,300,000 | $122,000 | $4,005,000 | $109,000 | $1,239,000 |
| Home Purchase | 647 | $206,175,000 | $318,000 | $9,935,000 | $136,000 | $7,900,000 |
| Refinancing | 216 | $28,870,000 | $133,000 | $485,000 | $98,000 | $300,000 |
| Cash-out Refinancing | 193 | $43,845,000 | $227,000 | $905,000 | $101,000 | $1,044,000 |
| Other Purpose | 8 | $1,650,000 | $206,000 | $505,000 | $107,000 | $162,000 |
| Not Applicable | 0 | $0 | $0 | $0 | $0 | $0 |
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 | 1,327 | $283,195,000 | $213,000 | $4,005,000 | $119,000 | $7,900,000 |
| Not Provided | 240 | $40,790,000 | $169,000 | $975,000 | $122,000 | $735,000 |
| American Indian or Alaskan Native | 52 | $7,790,000 | $149,000 | $565,000 | $92,000 | $293,000 |
| Hispanic | 40 | $7,660,000 | $191,000 | $565,000 | $102,000 | $600,000 |
| Not applicable | 23 | $15,675,000 | $681,000 | $9,935,000 | $82,000 | $180,000 |
| Black or African American | 17 | $2,445,000 | $143,000 | $325,000 | $72,000 | $240,000 |
| Asian | 11 | $1,365,000 | $124,000 | $285,000 | $75,000 | $145,000 |
| Native Hawaiian or Other Pacific Islander | 3 | $845,000 | $281,000 | $365,000 | $155,000 | $214,000 |
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) | 1,652 | $343,880,000 | $208,000 | $9,935,000 | $119,000 | $7,900,000 |
| VA-guaranteed (Veterans Administration) | 32 | $9,870,000 | $308,000 | $825,000 | $86,000 | $224,000 |
| FHA-insured (Federal Housing Administration) | 25 | $5,075,000 | $203,000 | $345,000 | $66,000 | $123,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 5 | $1,015,000 | $203,000 | $305,000 | $70,000 | $123,000 |
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 | 1,237 | $264,275,000 | $213,000 | $9,935,000 | $122,000 | $7,900,000 |
| Application Withdrawn By Applicant | 215 | $64,085,000 | $298,000 | $4,005,000 | $130,000 | $1,254,000 |
| Application Denied By Financial Institution | 196 | $24,050,000 | $122,000 | $705,000 | $76,000 | $669,000 |
| Application Approved But Not Accepted | 53 | $4,695,000 | $88,000 | $445,000 | $113,000 | $329,000 |
| File Closed For Incompleteness | 13 | $2,735,000 | $210,000 | $605,000 | $92,000 | $182,000 |
| Loan Purchased By The Institution | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 |
|---|---|---|---|---|---|---|
| Not applicable | 1,518 | $335,790,000 | $221,000 | $9,935,000 | $122,000 | $7,900,000 |
| Debt-To-Income Ratio | 77 | $10,075,000 | $130,000 | $705,000 | $55,000 | $180,000 |
| Credit History | 58 | $6,480,000 | $111,000 | $705,000 | $67,000 | $240,000 |
| Collateral | 19 | $1,785,000 | $93,000 | $305,000 | $103,000 | $195,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 14 | $1,680,000 | $120,000 | $365,000 | $141,000 | $669,000 |
| Other | 9 | $505,000 | $56,000 | $155,000 | $100,000 | $196,000 |
| Credit Application Incomplete | 7 | $895,000 | $127,000 | $405,000 | $125,000 | $300,000 |
| Employment History | 6 | $1,090,000 | $181,000 | $345,000 | $58,000 | $78,000 |
| Unverifiable Information | 4 | $900,000 | $225,000 | $505,000 | $97,000 | $162,000 |
| Mortgage Insurance Denied | 2 | $640,000 | $320,000 | $395,000 | $135,000 | $148,000 |
Our comprehensive HMDA mortgage statistics provide invaluable insights into Black Hills Federal Credit Union's 2022 lending activity. By analyzing detailed data on mortgage applications, total loan amounts, applicant incomes, loan purposes, and approval rates, industry professionals, researchers, and analysts can gain a clear understanding of this lender's role in the mortgage market.
This in-depth HMDA data allows real estate experts, financial analysts, and policymakers to track lending trends, evaluate borrower demographics,
and assess Black Hills Federal Credit Union's mortgage approval patterns.
Utilize this powerful dataset to analyze market performance, compare lending practices, and make data-driven decisions in the ever-changing mortgage industry.
For a list of all lenders in South Dakota, download the full spreadsheet
with aggregated HMDA statistics today.
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