McPherson County, SD Mortgage Lenders & HMDA Data, 2024
In 2024, lenders reported 17 mortgage applications in McPherson County, SD totaling $1.3 million, down 45% from 2023. The average application was for $73,000, and applicants reported an average income of $72,000. 47% of applications resulted in an originated loan and 18% were denied. The most active lender was American Bank & Trust, with 2 applications, followed by Cortrust Mortgage, Inc. and Navy Federal Credit Union.
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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 | 17 |
| Total Mortgage Loan Application Amount | $1,255,000 |
| Average Mortgage Loan Application Amount | $73,000 |
| Highest Mortgage Loan Application Amount | $245,000 |
| Average Applicant Income | $72,000 |
| Highest Applicant Income | $140,000 |
| Mortgage Lender | Phone Number | Mortgage Lender Assets | Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications |
|---|---|---|---|---|
| American Bank & Trust 120 E MAIN STREET SIOUX FALLS, SD 57108 |
* | $ n/a | 2 | $ 80,000 |
| Cortrust Mortgage, Inc. 2101 S MINNESOTA AVENUE SIOUX FALLS, SD 57105 |
* | $ n/a | 2 | $ 100,000 |
| Navy Federal Credit Union 820 FOLLIN LANE VIENNA, VA 22180 |
* | $ n/a | 2 | $ 130,000 |
| loanDepot.com LLC 6561 IRVINE CENTER DRIVE IRVINE, CA 92618 |
* | $ n/a | 1 | $ 55,000 |
| Discover Bank 12 READS WAY GREENWOOD, DE 19950 |
* | $ n/a | 1 | $ 115,000 |
| Cortrust Bank 100 EAST HAVENS MITCHELL, SD 57301 |
* | $ n/a | 1 | $ 35,000 |
| Wells Fargo Bank NA MINNEAPOLIS, MN 55415 |
* | $ n/a | 1 | $ 65,000 |
| Plains Commerce Bank 220 MAIN ST HOVEN, SD 57450 |
* | $ n/a | 1 | $ 125,000 |
| USAA Federal Savings Bank 10750 MCDERMOTT FREEWAY SAN ANTONIO, TX 78288 |
* | $ n/a | 1 | $ 45,000 |
| New American Funding, Llc. 14511 MYFORD ROAD, SUITE 100 TUSTIN, CA 92780 |
* | $ n/a | 1 | $ 125,000 |
| United Wholesale Mortgage 40600 ANN ARBOR RD E STE 201 PLYMOUTH, MI 48170 |
* | $ n/a | 1 | $ 245,000 |
| Churchill Mortgage Corporation 761 OLD HICKORY BLVD SUITE 400 BRENTWOOD, TN 37027 |
* | $ n/a | 1 | $ 115,000 |
| Dacotah Bank 308 S MAIN STREET, PO BOX 1210 ABERDEEN, SD 57401 |
* | $ n/a | 1 | $ 15,000 |
| Oneaz Credit Union 2355 W PINNACLE PEAK RD PHOENIX, AZ 85027 |
* | $ n/a | 1 | $ 5,000 |
The tables below break down 2024 mortgage applications in McPherson 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 McPherson County, SD in 2024
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 Purchase | 11 | $865,000 | $78,000 | $245,000 | $72,000 | $140,000 |
| Other Purpose | 4 | $150,000 | $37,000 | $55,000 | $63,000 | $80,000 |
| Refinancing | 1 | $115,000 | $115,000 | $115,000 | $116,000 | $116,000 |
| Cash-out Refinancing | 1 | $125,000 | $125,000 | $125,000 | $72,000 | $72,000 |
| Home Improvement | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 | 15 | $1,185,000 | $79,000 | $245,000 | $75,000 | $140,000 |
| Not applicable | 1 | $15,000 | $15,000 | $15,000 | $0 | $0 |
| Hispanic | 1 | $55,000 | $55,000 | $55,000 | $27,000 | $27,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| American Indian or Alaskan Native | 0 | $0 | $0 | $0 | $0 | $0 |
| Asian | 0 | $0 | $0 | $0 | $0 | $0 |
| Black or African American | 0 | $0 | $0 | $0 | $0 | $0 |
| Not Provided | 0 | $0 | $0 | $0 | $0 | $0 |
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) | 13 | $785,000 | $60,000 | $125,000 | $76,000 | $140,000 |
| VA-guaranteed (Veterans Administration) | 2 | $300,000 | $150,000 | $245,000 | $68,000 | $109,000 |
| FHA-insured (Federal Housing Administration) | 1 | $125,000 | $125,000 | $125,000 | $72,000 | $72,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 1 | $45,000 | $45,000 | $45,000 | $40,000 | $40,000 |
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 | 8 | $670,000 | $83,000 | $245,000 | $62,000 | $109,000 |
| Application Withdrawn By Applicant | 6 | $410,000 | $68,000 | $115,000 | $89,000 | $140,000 |
| Application Denied By Financial Institution | 3 | $175,000 | $58,000 | $125,000 | $64,000 | $80,000 |
| Application Approved But Not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
| File Closed For Incompleteness | 0 | $0 | $0 | $0 | $0 | $0 |
| 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 | 14 | $1,080,000 | $77,000 | $245,000 | $74,000 | $140,000 |
| Credit History | 2 | $50,000 | $25,000 | $45,000 | $60,000 | $80,000 |
| Credit Application Incomplete | 1 | $125,000 | $125,000 | $125,000 | $72,000 | $72,000 |
| Collateral | 0 | $0 | $0 | $0 | $0 | $0 |
| Other | 0 | $0 | $0 | $0 | $0 | $0 |
| Unverifiable Information | 0 | $0 | $0 | $0 | $0 | $0 |
| Debt-To-Income Ratio | 0 | $0 | $0 | $0 | $0 | $0 |
| Employment History | 0 | $0 | $0 | $0 | $0 | $0 |
| Insufficient Cash (Downpayment, Closing Cost) | 0 | $0 | $0 | $0 | $0 | $0 |
| Mortgage Insurance Denied | 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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