South Dakota
Mortgage Loan Application
Totals and Details
in 2020

Find mortgage statistics and mortgage data for South Dakota.
Our lists allow you to explore the total number of mortgage applications and mortgage application details for 2003-2020 in all of South Dakota.
You can organize this information by metropolitan area and by county.

Years 2020  2019  2018  2017  2016  2015  2014  2013  2012  2011  2010  2009  2008  2007  2006  2005  2004  2003  
Total Number of Mortgage Applications 63,481
Total Mortgage Loan Application Amount $14,228,275,000
Average Mortgage Loan Application Amount $224,000
Highest Mortgage Loan Application Amount $47,395,000
Average Applicant Income $108,000
Highest Applicant Income $3,683,000

Mortgage stats and application averages for each year are shown below, as well as highest application amount and the income of the highest applicant.
If you are looking for a mortgage or loan application data statistics in South Dakota, these numbers will give you an idea of what to expect as you begin to look for a lender.

These lists can also be organized by various details about Mortgage Loan Applications for each year, with categories such as loan purpose, race of mortgage applicant, loan type, the outcome of the application, and reason for denial.

Each category breaks down the total number of mortgage applications, the total dollar amount for those applications, the average mortgage amount, and the highest mortgage within that category. You can also look at information regarding the average income of the mortgage applicants and the highest income of the mortgage applicants. If you're looking for a certain type of mortgage, these numbers will give you a better gauge of what to expect in various situations.

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Mortgage Loan Application Detail Totals for South Dakota in 2020

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
Refinancing 28,518 $6,544,850,000 $229,000 $47,395,000 $115,000 $3,683,000
Home Purchase 19,967 $4,726,605,000 $236,000 $29,705,000 $97,000 $2,995,000
Cash-out Refinancing 11,680 $2,522,590,000 $215,000 $30,425,000 $110,000 $2,553,000
Home Improvement 1,507 $166,445,000 $110,000 $1,475,000 $109,000 $2,955,000
Other Purpose 1,295 $186,035,000 $143,000 $18,965,000 $130,000 $2,499,000
Not Applicable 514 $81,750,000 $159,000 $8,935,000 $60,000 $80,000

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 49,764 $10,534,570,000 $211,000 $15,975,000 $109,000 $3,683,000
Not applicable 6,204 $2,157,220,000 $347,000 $47,395,000 $110,000 $1,011,000
Not Provided 4,545 $951,925,000 $209,000 $1,585,000 $109,000 $2,955,000
Hispanic 1,030 $191,400,000 $185,000 $825,000 $82,000 $715,000
American Indian or Alaskan Native 687 $122,395,000 $178,000 $785,000 $97,000 $3,567,000
Asian 571 $131,135,000 $229,000 $1,705,000 $109,000 $1,626,000
Black or African American 565 $114,505,000 $202,000 $595,000 $87,000 $1,098,000
Native Hawaiian or Other Pacific Islander 48 $10,270,000 $213,000 $565,000 $98,000 $238,000

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) 48,937 $11,068,685,000 $226,000 $47,395,000 $116,000 $3,683,000
VA-guaranteed (Veterans Administration) 7,849 $1,949,395,000 $248,000 $1,335,000 $81,000 $1,380,000
FHA-insured (Federal Housing Administration) 5,049 $944,435,000 $187,000 $9,175,000 $64,000 $3,567,000
FSA/RHS (Farm Service Agency or Rural Housing Service) 1,646 $265,760,000 $161,000 $1,075,000 $55,000 $650,000

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 39,985 $9,232,625,000 $230,000 $47,395,000 $112,000 $3,683,000
Loan Purchased By The Institution 8,880 $2,010,070,000 $226,000 $1,335,000 $107,000 $1,411,000
Application Withdrawn By Applicant 8,003 $1,814,035,000 $226,000 $15,975,000 $110,000 $2,499,000
Application Denied By Financial Institution 4,583 $789,705,000 $172,000 $13,005,000 $80,000 $2,187,000
File Closed For Incompleteness 1,231 $223,505,000 $181,000 $1,195,000 $90,000 $762,000
Application Approved But Not Accepted 793 $157,255,000 $198,000 $2,085,000 $112,000 $2,955,000
Preapproval Denied by Financial Institution 4 $560,000 $140,000 $255,000 $90,000 $131,000
Preapproval Approved but not Accepted 2 $520,000 $260,000 $385,000 $94,000 $117,000

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 56,254 $12,818,470,000 $227,000 $47,395,000 $110,000 $3,683,000
Debt-To-Income Ratio 4,142 $898,220,000 $216,000 $13,505,000 $97,000 $2,290,000
Credit History 1,429 $196,515,000 $137,000 $1,935,000 $74,000 $680,000
Collateral 505 $95,185,000 $188,000 $13,005,000 $101,000 $1,199,000
Credit Application Incomplete 436 $85,090,000 $195,000 $765,000 $102,000 $2,100,000
Other 432 $83,480,000 $193,000 $6,005,000 $122,000 $2,187,000
Unverifiable Information 118 $19,900,000 $168,000 $1,325,000 $106,000 $800,000
Employment History 83 $16,065,000 $193,000 $985,000 $77,000 $704,000
Insufficient Cash (Downpayment, Closing Cost) 74 $13,680,000 $184,000 $1,505,000 $95,000 $1,240,000
Mortgage Insurance Denied 8 $1,670,000 $208,000 $455,000 $86,000 $151,000
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Mortgage Loan Application Totals in 2020 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 11,611 $ 2,710,825,000 $ 233,000 $ 101,000
SIOUX FALLS, SD 29,121 $ 7,030,385,000 $ 241,000 $ 112,000
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Mortgage Loan Application Totals in 2020 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 84 $ 14,000,000 $ 166,000 $ 84,000
Beadle 520 $ 92,340,000 $ 177,000 $ 99,000
Bennett 36 $ 3,630,000 $ 100,000 $ 70,000
Bon Homme 173 $ 25,255,000 $ 145,000 $ 80,000
Brookings 1,782 $ 384,290,000 $ 215,000 $ 104,000
Brown 2,113 $ 391,365,000 $ 185,000 $ 105,000
Brule 191 $ 27,355,000 $ 143,000 $ 85,000
Buffalo 3 $ 495,000 $ 165,000 $ 48,000
Butte 628 $ 114,490,000 $ 182,000 $ 81,000
Campbell 25 $ 2,625,000 $ 105,000 $ 92,000
Charles Mix 226 $ 39,690,000 $ 175,000 $ 110,000
Clark 131 $ 17,385,000 $ 132,000 $ 85,000
Clay 664 $ 136,070,000 $ 204,000 $ 95,000
Codington 2,238 $ 458,810,000 $ 205,000 $ 100,000
Corson 20 $ 2,440,000 $ 122,000 $ 99,000
Custer 731 $ 171,435,000 $ 234,000 $ 108,000
Davison 1,205 $ 210,985,000 $ 175,000 $ 99,000
Day 222 $ 38,590,000 $ 173,000 $ 124,000
Deuel 248 $ 42,280,000 $ 170,000 $ 99,000
Dewey 26 $ 2,800,000 $ 107,000 $ 73,000
Douglas 119 $ 16,805,000 $ 141,000 $ 76,000
Edmunds 142 $ 27,510,000 $ 193,000 $ 119,000
Fall River 431 $ 77,855,000 $ 180,000 $ 89,000
Faulk 44 $ 5,960,000 $ 135,000 $ 91,000
Grant 408 $ 64,730,000 $ 158,000 $ 84,000
Gregory 89 $ 13,475,000 $ 151,000 $ 76,000
Haakon 54 $ 8,470,000 $ 156,000 $ 87,000
Hamlin 428 $ 85,800,000 $ 200,000 $ 117,000
Hand 92 $ 15,260,000 $ 165,000 $ 91,000
Hanson 192 $ 33,050,000 $ 172,000 $ 94,000
Harding 17 $ 3,385,000 $ 199,000 $ 107,000
Hughes 1,323 $ 262,515,000 $ 198,000 $ 105,000
Hutchinson 239 $ 32,595,000 $ 136,000 $ 81,000
Hyde 31 $ 3,445,000 $ 111,000 $ 66,000
Jackson 21 $ 2,525,000 $ 120,000 $ 84,000
Jerauld 48 $ 7,190,000 $ 149,000 $ 86,000
Jones 21 $ 2,985,000 $ 142,000 $ 80,000
Kingsbury 194 $ 34,200,000 $ 176,000 $ 98,000
Lake 844 $ 189,260,000 $ 224,000 $ 135,000
Lawrence 2,299 $ 567,345,000 $ 246,000 $ 133,000
Lincoln 8,771 $ 2,336,975,000 $ 266,000 $ 130,000
Lyman 67 $ 9,575,000 $ 142,000 $ 97,000
Marshall 111 $ 19,675,000 $ 177,000 $ 98,000
McCook 388 $ 74,560,000 $ 192,000 $ 101,000
McPherson 41 $ 3,325,000 $ 81,000 $ 48,000
Meade 2,540 $ 588,480,000 $ 231,000 $ 94,000
Mellette 10 $ 1,330,000 $ 133,000 $ 64,000
Miner 66 $ 10,170,000 $ 154,000 $ 87,000
Minnehaha 19,338 $ 4,500,860,000 $ 232,000 $ 105,000
Moody 306 $ 58,610,000 $ 191,000 $ 100,000
Pennington 9,071 $ 2,122,345,000 $ 233,000 $ 104,000
Perkins 47 $ 4,595,000 $ 97,000 $ 63,000
Potter 94 $ 13,090,000 $ 139,000 $ 73,000
Roberts 220 $ 35,180,000 $ 159,000 $ 133,000
Sanborn 56 $ 9,510,000 $ 169,000 $ 86,000
Shannon n/a $ n/a $ n/a $ n/a
Spink 185 $ 28,505,000 $ 154,000 $ 100,000
Stanley 237 $ 54,215,000 $ 228,000 $ 139,000
Sully 91 $ 18,695,000 $ 205,000 $ 105,000
Todd 19 $ 1,965,000 $ 103,000 $ 93,000
Tripp 119 $ 16,595,000 $ 139,000 $ 86,000
Turner 624 $ 117,990,000 $ 189,000 $ 92,000
Union 1,336 $ 309,770,000 $ 231,000 $ 142,000
Walworth 202 $ 28,550,000 $ 141,000 $ 86,000
Yankton 1,216 $ 230,050,000 $ 189,000 $ 96,000
Ziebach 10 $ 1,340,000 $ 134,000 $ 100,000

We hope these mortgage application details and statistics will give you a better idea of what to expect when applying for a mortgage.
Whether you are looking for a home loan, for home financing or refinancing, or for home improvement loan statistics, we have the information you need.
These mortgage application stats give you everything you need to know as you start your search for the best mortgage lender in South Dakota.

If you prefer, you can download a copy of the entire list of mortgage lenders in South Dakota and search similar information back through 2003.

Download the South Dakota Lender List