South Dakota Mortgage Lenders & HMDA Data, 2025
In 2025, lenders reported 29,382 mortgage applications in South Dakota totaling $8.0 billion, up 10% from 2024. The average application was for $271,000, and applicants reported an average income of $136,000. 58% of applications resulted in an originated loan and 11% were denied. The most active lenders were Plains Commerce Bank (2,281 applications), First Premier Bank and First Bank & Trust.
See the top mortgage lenders in South Dakota, browse lending by metro area and by county, or see the mortgage lenders headquartered in South Dakota and South Dakota lenders by city.
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Download the South Dakota mortgage lender list: a formatted spreadsheet with aggregated HMDA statistics for all South Dakota based lenders.
Whether you're an industry analyst, homebuyer, or researcher, this data provides valuable insights into South Dakota's mortgage market trends.
| 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 | 29,382 |
| Total Mortgage Loan Application Amount | $7,972,310,000 |
| Average Mortgage Loan Application Amount | $271,000 |
| Highest Mortgage Loan Application Amount | $20,825,000 |
| Average Applicant Income | $136,000 |
| Highest Applicant Income | $8,431,000 |
Top 25 Mortgage Lenders in South Dakota (2025)
Ranked by the number of mortgage applications each lender received for properties in South Dakota in 2025, wherever the lender is based. For lenders headquartered in the state, see the full list of South Dakota mortgage companies. For the lenders that made the most loans here in 2025, with the top FHA, VA, purchase and refinance lenders, see top mortgage lenders in South Dakota.
| # | Mortgage Lender | Mortgage Applications | Total Dollar Amount | Average Loan Amount | Average Applicant Income |
|---|---|---|---|---|---|
| 1 | Plains Commerce Bank Hoven, SD |
2,281 | $691,335,000 | $303,084 | $129,226 |
| 2 | First Premier Bank Sioux Falls, SD |
1,389 | $339,925,000 | $244,726 | $149,830 |
| 3 | First Bank & Trust Brookings, SD |
1,320 | $295,100,000 | $223,560 | $159,176 |
| 4 | Black Hills Federal Credit Union Rapid City, SD |
1,227 | $222,365,000 | $181,226 | $122,602 |
| 5 | PennyMac Loan Services LLC Westlake Village, CA |
983 | $306,125,000 | $311,419 | $119,355 |
| 6 | CMG Mortgage Inc San Ramon, IL |
913 | $291,845,000 | $319,654 | $126,286 |
| 7 | Bankwest, Inc. Pierre, SD |
786 | $161,300,000 | $205,216 | $103,984 |
| 8 | Citizens Bank, NA Providence, RI |
742 | $203,720,000 | $274,555 | $146,665 |
| 9 | Newrez LLC Fort Washington, PA |
740 | $239,080,000 | $323,081 | $140,865 |
| 10 | First Dakota National Bak Yankton, SD |
690 | $260,590,000 | $377,666 | $190,131 |
| 11 | US Bank, N.A. Cincinnati, OH |
689 | $156,135,000 | $226,611 | $147,380 |
| 12 | Levo Federal Credit Union Sioux Falls, SD |
644 | $115,640,000 | $179,565 | $128,649 |
| 13 | First Interstate Bank Billings, MT |
615 | $118,435,000 | $192,577 | $134,785 |
| 14 | American Bank & Trust Sioux Falls, SD |
613 | $191,395,000 | $312,226 | $123,119 |
| 15 | First International Bank & Trust Minot, ND |
609 | $185,825,000 | $305,131 | $150,850 |
| 16 | Mortgage Research Center Columbia, MO |
593 | $178,405,000 | $300,851 | $105,143 |
| 17 | United Wholesale Mortgage Plymouth, MI |
563 | $184,055,000 | $326,918 | $128,586 |
| 18 | Dacotah Bank Aberdeen, SD |
512 | $130,430,000 | $254,746 | $121,025 |
| 19 | Fairway Independent Mort Corp Madison, WI |
502 | $144,390,000 | $287,629 | $118,458 |
| 20 | Freedom Mortgage Corporation Boca Raton, FL |
416 | $133,650,000 | $321,274 | $105,784 |
| 21 | JPMorgan Chase Bank, NA Columbus, OH |
412 | $62,150,000 | $150,849 | $133,150 |
| 22 | Central Bank Storm Lake, IA |
394 | $120,540,000 | $305,939 | $149,027 |
| 23 | Cortrust Bank Mitchell, SD |
313 | $46,625,000 | $148,961 | $149,983 |
| 24 | Nationstar Mortgage Coppell, TX |
311 | $89,845,000 | $288,890 | $117,180 |
| 25 | Granite Bank Cold Spring, MN |
309 | $83,215,000 | $269,304 | $115,019 |
The tables below break down 2025 mortgage applications in South Dakota by loan purpose, applicant race, loan type, outcome and denial reason, followed by totals for every metro area and county. Click a column heading to sort.
Mortgage Loan Application Detail Totals for South Dakota in 2025
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 | 15,454 | $4,943,630,000 | $319,000 | $20,505,000 | $137,000 | $8,431,000 |
| Refinancing | 4,850 | $1,526,740,000 | $314,000 | $14,375,000 | $161,000 | $4,195,000 |
| Cash-out Refinancing | 4,629 | $1,036,025,000 | $223,000 | $13,135,000 | $114,000 | $3,838,000 |
| Other Purpose | 2,413 | $270,275,000 | $112,000 | $20,825,000 | $129,000 | $6,007,000 |
| Home Improvement | 2,009 | $192,555,000 | $95,000 | $3,355,000 | $137,000 | $5,348,000 |
| Not Applicable | 27 | $3,085,000 | $114,000 | $405,000 | $70,000 | $270,000 |
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 | 21,041 | $5,346,105,000 | $254,000 | $5,395,000 | $137,000 | $8,431,000 |
| Not applicable | 3,527 | $1,469,845,000 | $416,000 | $20,825,000 | $135,000 | $850,000 |
| Not Provided | 2,706 | $651,210,000 | $240,000 | $2,805,000 | $137,000 | $1,858,000 |
| Hispanic | 902 | $202,090,000 | $224,000 | $1,015,000 | $111,000 | $1,280,000 |
| American Indian or Alaskan Native | 506 | $114,230,000 | $225,000 | $915,000 | $118,000 | $1,528,000 |
| Asian | 333 | $96,825,000 | $290,000 | $1,485,000 | $168,000 | $1,499,000 |
| Black or African American | 333 | $83,005,000 | $249,000 | $935,000 | $115,000 | $1,200,000 |
| Native Hawaiian or Other Pacific Islander | 32 | $7,840,000 | $245,000 | $635,000 | $86,000 | $183,000 |
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) | 21,255 | $5,531,445,000 | $260,000 | $20,825,000 | $147,000 | $8,431,000 |
| FHA-insured (Federal Housing Administration) | 4,215 | $1,099,795,000 | $260,000 | $815,000 | $94,000 | $5,317,000 |
| VA-guaranteed (Veterans Administration) | 3,583 | $1,280,625,000 | $357,000 | $1,885,000 | $113,000 | $1,178,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 329 | $60,445,000 | $183,000 | $4,955,000 | $76,000 | $151,000 |
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 | 17,103 | $4,812,575,000 | $281,000 | $20,825,000 | $142,000 | $6,016,000 |
| Application Withdrawn By Applicant | 4,004 | $1,175,810,000 | $293,000 | $13,535,000 | $141,000 | $8,431,000 |
| Loan Purchased By The Institution | 3,458 | $1,029,480,000 | $297,000 | $1,825,000 | $147,000 | $1,473,000 |
| Application Denied By Financial Institution | 3,298 | $616,860,000 | $187,000 | $8,405,000 | $96,000 | $2,199,000 |
| File Closed For Incompleteness | 903 | $191,705,000 | $212,000 | $5,005,000 | $118,000 | $1,496,000 |
| Application Approved But Not Accepted | 581 | $136,635,000 | $235,000 | $9,525,000 | $134,000 | $3,066,000 |
| Preapproval Approved but not Accepted | 20 | $5,490,000 | $274,000 | $975,000 | $128,000 | $647,000 |
| Preapproval Denied by Financial Institution | 15 | $3,755,000 | $250,000 | $585,000 | $78,000 | $163,000 |
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 | 25,099 | $7,030,875,000 | $280,000 | $20,825,000 | $141,000 | $8,431,000 |
| Debt-To-Income Ratio | 2,129 | $544,015,000 | $255,000 | $14,255,000 | $109,000 | $3,113,000 |
| Credit History | 932 | $145,550,000 | $156,000 | $2,095,000 | $97,000 | $1,572,000 |
| Collateral | 470 | $87,550,000 | $186,000 | $2,145,000 | $125,000 | $2,199,000 |
| Credit Application Incomplete | 335 | $68,125,000 | $203,000 | $1,275,000 | $102,000 | $960,000 |
| Other | 216 | $53,210,000 | $246,000 | $8,405,000 | $116,000 | $612,000 |
| Unverifiable Information | 90 | $17,420,000 | $193,000 | $575,000 | $129,000 | $1,511,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 78 | $17,700,000 | $226,000 | $615,000 | $98,000 | $567,000 |
| Employment History | 30 | $6,830,000 | $227,000 | $755,000 | $63,000 | $267,000 |
| Mortgage Insurance Denied | 3 | $1,035,000 | $345,000 | $395,000 | $103,000 | $103,000 |
Mortgage Loan Application Totals in 2025 by South Dakota Metropolitan Area
| 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 | 6,357 | $ 1,898,425,000 | $ 298,000 | $ 137,000 |
| Sioux Falls, SD | 11,596 | $ 3,353,100,000 | $ 289,000 | $ 144,000 |
Mortgage Loan Application Totals in 2025 by South Dakota County
| County | Total Number of Mortgage Loan Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Application Amount | Average Applicant Income |
|---|---|---|---|---|
| Aurora | 58 | $ 11,620,000 | $ 200,000 | $ 121,000 |
| Beadle | 365 | $ 73,405,000 | $ 201,000 | $ 100,000 |
| Bennett | 21 | $ 2,725,000 | $ 129,000 | $ 88,000 |
| Bon Homme | 151 | $ 28,805,000 | $ 190,000 | $ 90,000 |
| Brookings | 864 | $ 253,290,000 | $ 293,000 | $ 150,000 |
| Brown | 789 | $ 199,615,000 | $ 252,000 | $ 114,000 |
| Brule | 87 | $ 15,025,000 | $ 172,000 | $ 90,000 |
| Buffalo | 5 | $ 775,000 | $ 155,000 | $ 91,000 |
| Butte | 430 | $ 99,440,000 | $ 231,000 | $ 108,000 |
| Campbell | 27 | $ 4,825,000 | $ 178,000 | $ 108,000 |
| Charles Mix | 109 | $ 26,255,000 | $ 240,000 | $ 125,000 |
| Clark | 76 | $ 12,160,000 | $ 160,000 | $ 84,000 |
| Clay | 416 | $ 93,140,000 | $ 223,000 | $ 116,000 |
| Codington | 939 | $ 217,935,000 | $ 232,000 | $ 128,000 |
| Corson | 10 | $ 2,240,000 | $ 224,000 | $ 110,000 |
| Custer | 396 | $ 116,780,000 | $ 294,000 | $ 142,000 |
| Davison | 554 | $ 122,980,000 | $ 221,000 | $ 125,000 |
| Day | 131 | $ 30,305,000 | $ 231,000 | $ 128,000 |
| Deuel | 112 | $ 23,820,000 | $ 212,000 | $ 121,000 |
| Dewey | 8 | $ 1,130,000 | $ 141,000 | $ 66,000 |
| Douglas | 71 | $ 13,605,000 | $ 191,000 | $ 90,000 |
| Edmunds | 73 | $ 17,625,000 | $ 241,000 | $ 165,000 |
| Fall River | 383 | $ 90,615,000 | $ 236,000 | $ 107,000 |
| Faulk | 32 | $ 5,130,000 | $ 160,000 | $ 95,000 |
| Grant | 242 | $ 45,260,000 | $ 187,000 | $ 102,000 |
| Gregory | 86 | $ 15,890,000 | $ 184,000 | $ 92,000 |
| Haakon | 39 | $ 8,165,000 | $ 209,000 | $ 127,000 |
| Hamlin | 232 | $ 53,160,000 | $ 229,000 | $ 122,000 |
| Hand | 65 | $ 11,125,000 | $ 171,000 | $ 106,000 |
| Hanson | 76 | $ 19,300,000 | $ 253,000 | $ 107,000 |
| Harding | 17 | $ 2,605,000 | $ 153,000 | $ 144,000 |
| Hughes | 570 | $ 125,160,000 | $ 219,000 | $ 115,000 |
| Hutchinson | 194 | $ 38,050,000 | $ 196,000 | $ 97,000 |
| Hyde | 18 | $ 3,000,000 | $ 166,000 | $ 81,000 |
| Jackson | 16 | $ 1,960,000 | $ 122,000 | $ 99,000 |
| Jerauld | 31 | $ 4,695,000 | $ 151,000 | $ 71,000 |
| Jones | 17 | $ 3,345,000 | $ 196,000 | $ 101,000 |
| Kingsbury | 162 | $ 31,110,000 | $ 192,000 | $ 102,000 |
| Lake | 419 | $ 104,515,000 | $ 249,000 | $ 147,000 |
| Lawrence | 1,227 | $ 379,475,000 | $ 309,000 | $ 171,000 |
| Lincoln | 3,235 | $ 1,085,695,000 | $ 335,000 | $ 170,000 |
| Lyman | 55 | $ 9,925,000 | $ 180,000 | $ 123,000 |
| Marshall | 59 | $ 10,215,000 | $ 173,000 | $ 109,000 |
| McCook | 214 | $ 46,230,000 | $ 216,000 | $ 103,000 |
| McPherson | 47 | $ 5,355,000 | $ 113,000 | $ 80,000 |
| Meade | 1,290 | $ 401,080,000 | $ 310,000 | $ 130,000 |
| Mellette | 17 | $ 1,635,000 | $ 96,000 | $ 60,000 |
| Miner | 40 | $ 7,230,000 | $ 180,000 | $ 108,000 |
| Minnehaha | 7,815 | $ 2,145,675,000 | $ 274,000 | $ 136,000 |
| Moody | 187 | $ 44,725,000 | $ 239,000 | $ 129,000 |
| Oglala Lakota | 12 | $ 1,230,000 | $ 102,000 | $ 67,000 |
| Pennington | 4,671 | $ 1,380,565,000 | $ 295,000 | $ 138,000 |
| Perkins | 30 | $ 3,550,000 | $ 118,000 | $ 88,000 |
| Potter | 51 | $ 6,515,000 | $ 127,000 | $ 107,000 |
| Roberts | 156 | $ 24,440,000 | $ 156,000 | $ 120,000 |
| Sanborn | 28 | $ 5,780,000 | $ 206,000 | $ 95,000 |
| Shannon | n/a | $ n/a | $ n/a | $ n/a |
| Spink | 80 | $ 13,380,000 | $ 167,000 | $ 104,000 |
| Stanley | 96 | $ 19,990,000 | $ 208,000 | $ 115,000 |
| Sully | 50 | $ 9,170,000 | $ 183,000 | $ 131,000 |
| Todd | 24 | $ 3,070,000 | $ 127,000 | $ 73,000 |
| Tripp | 80 | $ 17,420,000 | $ 217,000 | $ 108,000 |
| Turner | 332 | $ 75,500,000 | $ 227,000 | $ 112,000 |
| Union | 573 | $ 184,485,000 | $ 321,000 | $ 151,000 |
| Walworth | 103 | $ 16,085,000 | $ 156,000 | $ 104,000 |
| Yankton | 613 | $ 141,475,000 | $ 230,000 | $ 132,000 |
| Ziebach | 6 | $ 1,830,000 | $ 305,000 | $ 162,000 |
Our comprehensive HMDA mortgage statistics offer invaluable insights into South Dakota's 2025 lending landscape. By analyzing detailed data on mortgage applications, loan amounts, applicant incomes, loan purposes, and approval rates, industry professionals, researchers, and analysts can identify key trends shaping the state's housing market.
This in-depth information enables real estate experts, financial analysts, and policymakers to monitor market shifts, assess borrower demographics, and evaluate lender performance effectively.
Leverage this powerful data to make informed decisions, conduct thorough market research, and stay ahead in the evolving mortgage industry.
To gain a deeper understanding of South Dakota's mortgage lending environment, download the comprehensive list of lenders and their aggregated HMDA statistics today.
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