South Dakota
Mortgage Loan Application
Totals and Details
in 2016

Years 2016  2015  2014  2013  2012  2011  2010  2009  2008  2007  2006  2005  2004  2003  
Total Number of Mortgage Applications 37,648
Total Mortgage Loan Application Amount $6,865,313,000
Average Mortgage Loan Application Amount $182,000
Highest Mortgage Loan Application Amount $33,362,000
Average Applicant Income $76,000
Highest Applicant Income $4,596,000
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Mortgage Loan Application Detail Totals for South Dakota in 2016

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 18,302 $3,481,535,000 $190,000 $33,362,000 $73,000 $4,337,000
Refinancing 16,887 $3,140,376,000 $185,000 $27,000,000 $78,000 $4,596,000
Home Improvement 2,459 $243,402,000 $98,000 $8,375,000 $85,000 $1,642,000

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 27,938 $4,819,574,000 $172,000 $2,700,000 $89,000 $4,596,000
Not applicable 6,240 $1,501,334,000 $240,000 $33,362,000 $18,000 $923,000
Not Provided 1,796 $284,782,000 $158,000 $944,000 $80,000 $1,610,000
Hispanic 558 $79,525,000 $142,000 $944,000 $69,000 $655,000
American Indian or Alaskan Native 473 $67,212,000 $142,000 $6,447,000 $80,000 $2,261,000
Asian 305 $57,148,000 $187,000 $1,660,000 $99,000 $966,000
Black or African American 257 $41,594,000 $161,000 $530,000 $67,000 $700,000
Native Hawaiin or Other Pacific Islander 81 $14,144,000 $174,000 $417,000 $76,000 $360,000

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) 25,957 $4,782,549,000 $184,000 $33,362,000 $89,000 $4,596,000
FHA-insured (Federal Housing Administration) 5,336 $871,909,000 $163,000 $27,000,000 $46,000 $638,000
VA-guaranteed (Veterans Administration) 4,581 $948,132,000 $206,000 $963,000 $52,000 $1,800,000
FSA/RHS (Farm Service Agency or Rural Housing Service) 1,774 $262,723,000 $148,000 $1,399,000 $41,000 $934,000

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 20,937 $4,000,538,000 $191,000 $33,362,000 $91,000 $4,596,000
Loan Purchased By The Institution 6,780 $1,293,789,000 $190,000 $1,000,000 $31,000 $923,000
Application Denied By Financial Institution 4,739 $665,942,000 $140,000 $6,447,000 $72,000 $2,767,000
Application Withdrawn By Applicant 3,102 $557,688,000 $179,000 $27,000,000 $79,000 $1,500,000
Application Approved But Not Accepted 1,473 $254,669,000 $172,000 $4,500,000 $93,000 $2,326,000
File Closed For Incompleteness 615 $92,284,000 $150,000 $986,000 $64,000 $1,800,000
Preapproval Denied by Financial Institution 2 $403,000 $201,000 $275,000 $60,000 $99,000
Preapproval Approved but not Accepted 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
Credit History 655 $60,996,000 $93,000 $500,000 $66,000 $1,066,000
Debt-To-Income Ratio 574 $79,641,000 $138,000 $750,000 $54,000 $780,000
Collateral 385 $63,182,000 $164,000 $1,268,000 $87,000 $778,000
Credit Application Incomplete 220 $34,011,000 $154,000 $800,000 $87,000 $1,140,000
Other 186 $27,192,000 $146,000 $900,000 $72,000 $402,000
Insufficient Cash (Downpayment, Closing Cost) 62 $9,392,000 $151,000 $610,000 $64,000 $192,000
Unverifiable Information 59 $8,820,000 $149,000 $484,000 $70,000 $260,000
Employment History 37 $5,343,000 $144,000 $412,000 $61,000 $304,000
Mortgage Insurance Denied 2 $325,000 $162,000 $171,000 $57,000 $57,000
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Mortgage Loan Application Totals in 2016 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 8,158 $ 1,495,199,000 $ 183,000 $ 69,000
SIOUX FALLS, SD 16,728 $ 3,252,408,000 $ 194,000 $ 77,000
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Mortgage Loan Application Totals in 2016 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 49 $ 5,752,000 $ 117,000 $ 79,000
Beadle 235 $ 31,255,000 $ 133,000 $ 68,000
Bennett 42 $ 3,987,000 $ 94,000 $ 49,000
Bon Homme 116 $ 14,513,000 $ 125,000 $ 66,000
Brookings 577 $ 106,628,000 $ 184,000 $ 71,000
Brown 1,307 $ 205,704,000 $ 157,000 $ 74,000
Brule 108 $ 13,976,000 $ 129,000 $ 75,000
Buffalo 3 $ 186,000 $ 62,000 $ 10,000
Butte 449 $ 70,284,000 $ 156,000 $ 58,000
Campbell 23 $ 2,509,000 $ 109,000 $ 100,000
Charles Mix 132 $ 30,308,000 $ 229,000 $ 112,000
Clark 106 $ 14,827,000 $ 139,000 $ 104,000
Clay 394 $ 65,967,000 $ 167,000 $ 73,000
Codington 1,284 $ 209,640,000 $ 163,000 $ 67,000
Corson 28 $ 7,005,000 $ 250,000 $ 49,000
Custer 480 $ 93,316,000 $ 194,000 $ 73,000
Davison 730 $ 118,168,000 $ 161,000 $ 77,000
Day 133 $ 22,330,000 $ 167,000 $ 100,000
Deuel 122 $ 19,177,000 $ 157,000 $ 100,000
Dewey 24 $ 1,963,000 $ 81,000 $ 62,000
Douglas 34 $ 12,563,000 $ 369,000 $ 304,000
Edmunds 118 $ 20,511,000 $ 173,000 $ 68,000
Fall River 220 $ 31,325,000 $ 142,000 $ 65,000
Faulk 32 $ 4,374,000 $ 136,000 $ 51,000
Grant 151 $ 18,291,000 $ 121,000 $ 60,000
Gregory 63 $ 7,690,000 $ 122,000 $ 103,000
Haakon 53 $ 7,199,000 $ 135,000 $ 62,000
Hamlin 212 $ 30,525,000 $ 143,000 $ 81,000
Hand 59 $ 8,421,000 $ 142,000 $ 99,000
Hanson 106 $ 16,111,000 $ 151,000 $ 67,000
Harding 13 $ 2,528,000 $ 194,000 $ 94,000
Hughes 768 $ 127,977,000 $ 166,000 $ 62,000
Hutchinson 160 $ 15,994,000 $ 99,000 $ 55,000
Hyde 28 $ 3,080,000 $ 110,000 $ 58,000
Jackson 26 $ 2,548,000 $ 98,000 $ 50,000
Jerauld 28 $ 4,069,000 $ 145,000 $ 101,000
Jones 9 $ 1,243,000 $ 138,000 $ 78,000
Kingsbury 94 $ 13,387,000 $ 142,000 $ 61,000
Lake 413 $ 69,888,000 $ 169,000 $ 97,000
Lawrence 1,391 $ 282,250,000 $ 202,000 $ 97,000
Lincoln 4,854 $ 1,136,613,000 $ 234,000 $ 90,000
Lyman 43 $ 6,692,000 $ 155,000 $ 94,000
Marshall 78 $ 9,198,000 $ 117,000 $ 70,000
McCook 261 $ 40,847,000 $ 156,000 $ 83,000
McPherson 34 $ 7,153,000 $ 210,000 $ 48,000
Meade 1,587 $ 289,941,000 $ 182,000 $ 65,000
Mellette 15 $ 7,625,000 $ 508,000 $ 195,000
Miner 42 $ 5,621,000 $ 133,000 $ 71,000
Minnehaha 11,204 $ 2,014,135,000 $ 179,000 $ 70,000
Moody 188 $ 26,513,000 $ 141,000 $ 68,000
Pennington 6,099 $ 1,112,822,000 $ 182,000 $ 69,000
Perkins 46 $ 7,238,000 $ 157,000 $ 102,000
Potter 39 $ 5,584,000 $ 143,000 $ 94,000
Roberts 138 $ 20,266,000 $ 146,000 $ 96,000
Sanborn 49 $ 7,393,000 $ 150,000 $ 61,000
Shannon n/a $ n/a $ n/a $ n/a
Spink 80 $ 19,226,000 $ 240,000 $ 81,000
Stanley 143 $ 25,324,000 $ 177,000 $ 76,000
Sully 35 $ 6,108,000 $ 174,000 $ 66,000
Todd 22 $ 1,678,000 $ 76,000 $ 54,000
Tripp 98 $ 12,895,000 $ 131,000 $ 129,000
Turner 414 $ 61,182,000 $ 147,000 $ 86,000
Union 858 $ 177,988,000 $ 207,000 $ 131,000
Walworth 149 $ 19,940,000 $ 133,000 $ 74,000
Yankton 788 $ 118,630,000 $ 150,000 $ 71,000
Ziebach 6 $ 411,000 $ 68,000 $ 65,000
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