Sanborn County, SD Mortgage Lenders & HMDA Data, 2023
In 2023, lenders reported 27 mortgage applications in Sanborn County, SD totaling $3.3 million, down 21% from 2022. The average application was for $120,000, and applicants reported an average income of $79,000. 59% of applications resulted in an originated loan and 19% were denied. The most active lender was Cortrust Bank, with 5 applications, followed by US Bank, N.A. and Plains Commerce Bank.
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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 | 27 |
| Total Mortgage Loan Application Amount | $3,265,000 |
| Average Mortgage Loan Application Amount | $120,000 |
| Highest Mortgage Loan Application Amount | $505,000 |
| Average Applicant Income | $79,000 |
| Highest Applicant Income | $258,000 |
| Mortgage Lender | Phone Number | Mortgage Lender Assets | Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications |
|---|---|---|---|---|
| Cortrust Bank 100 EAST HAVENS MITCHELL, SD 57301 |
* | $ 1,635,354,000 | 5 | $ 155,000 |
| US Bank, N.A. 425 WALNUT STREET CINCINNATI, OH 45202 |
* | $ 585,135,605,000 | 4 | $ 170,000 |
| Plains Commerce Bank 220 MAIN ST HOVEN, SD 57450 |
* | $ 1,054,618,000 | 3 | $ 385,000 |
| First National Bank of Omaha 1620 DODGE STREET OMAHA, NE 68197 |
* | $ 28,274,145,000 | 3 | $ 245,000 |
| Bankwest, Inc. 420 S. PIERRE STREET, PO BOX 998 PIERRE, SD 57501 |
* | $ 1,576,681,000 | 3 | $ 465,000 |
| Black Hills Federal Credit Union PO BOX 1420-225 MAIN ST RAPID CITY, SD 57702 |
* | $ 2,170,479,000 | 1 | $ 165,000 |
| JPMorgan Chase Bank, NA 1111 POLARIS PARKWAY COLUMBUS, OH 43240 |
* | $ 3,201,942,000,000 | 1 | $ 155,000 |
| Towne Mortgage Company 888 WEST BIG BEAVER ROAD SUITE 310 TROY, MI 48084 |
* | $ -1,000 | 1 | $ 185,000 |
| American Bank & Trust 120 E MAIN STREET SIOUX FALLS, SD 57108 |
* | $ 1,474,550,000 | 1 | $ 265,000 |
| CMG Mortgage Inc 3160 CROW CANYON ROAD, SUITE 400 SAN RAMON, IL 94583 |
* | $ -1,000 | 1 | $ 185,000 |
| Finance of America Reverse LLC 8023 EAST 63RD PLACE, SUITE 700 TULSA, OK 74133 |
* | $ -1,000 | 1 | $ 145,000 |
| Farm Credit Mid-America, Aca 1601 UPS DRIVE LOUISVILLE, KY 40299 |
* | $ -1,000 | 1 | $ 505,000 |
| First Interstate Bank PO BOX 30918 BILLINGS, MT 59101 |
* | $ 32,216,733,000 | 1 | $ 205,000 |
| Discover Bank 12 READS WAY GREENWOOD, DE 19950 |
* | $ 129,461,046,000 | 1 | $ 35,000 |
The tables below break down 2023 mortgage applications in Sanborn 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 Sanborn County, SD in 2023
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 | 8 | $1,350,000 | $168,000 | $265,000 | $110,000 | $258,000 |
| Other Purpose | 7 | $335,000 | $47,000 | $145,000 | $62,000 | $109,000 |
| Refinancing | 5 | $785,000 | $157,000 | $505,000 | $70,000 | $107,000 |
| Cash-out Refinancing | 4 | $610,000 | $152,000 | $185,000 | $73,000 | $120,000 |
| Home Improvement | 3 | $185,000 | $61,000 | $125,000 | $55,000 | $74,000 |
| 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 | 23 | $2,875,000 | $125,000 | $505,000 | $71,000 | $258,000 |
| Not Provided | 2 | $310,000 | $155,000 | $265,000 | $157,000 | $205,000 |
| Hispanic | 2 | $80,000 | $40,000 | $45,000 | $85,000 | $96,000 |
| Native Hawaiian or Other Pacific Islander | 0 | $0 | $0 | $0 | $0 | $0 |
| Not applicable | 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 |
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) | 23 | $2,595,000 | $112,000 | $505,000 | $80,000 | $258,000 |
| VA-guaranteed (Veterans Administration) | 3 | $525,000 | $175,000 | $185,000 | $89,000 | $109,000 |
| FHA-insured (Federal Housing Administration) | 1 | $145,000 | $145,000 | $145,000 | $27,000 | $27,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 0 | $0 | $0 | $0 | $0 | $0 |
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 | 16 | $2,010,000 | $125,000 | $505,000 | $74,000 | $205,000 |
| Application Denied By Financial Institution | 5 | $215,000 | $43,000 | $85,000 | $55,000 | $95,000 |
| Application Withdrawn By Applicant | 3 | $495,000 | $165,000 | $185,000 | $84,000 | $120,000 |
| Loan Purchased By The Institution | 2 | $340,000 | $170,000 | $185,000 | $75,000 | $75,000 |
| File Closed For Incompleteness | 1 | $205,000 | $205,000 | $205,000 | $258,000 | $258,000 |
| Application Approved But Not Accepted | 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 | 22 | $3,050,000 | $138,000 | $505,000 | $85,000 | $258,000 |
| Credit History | 2 | $60,000 | $30,000 | $45,000 | $55,000 | $74,000 |
| Other | 1 | $35,000 | $35,000 | $35,000 | $36,000 | $36,000 |
| Collateral | 1 | $85,000 | $85,000 | $85,000 | $34,000 | $34,000 |
| Credit Application Incomplete | 1 | $35,000 | $35,000 | $35,000 | $95,000 | $95,000 |
| 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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