South Dakota
Mortgage Loan Application
Totals and Details
in 2022

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 2003-2022 in all of South Dakota.
You can organize this information by metropolitan area and by county.

Years 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 35,048
Total Mortgage Loan Application Amount $8,964,940,000
Average Mortgage Loan Application Amount $255,000
Highest Mortgage Loan Application Amount $42,495,000
Average Applicant Income $114,000
Highest Applicant Income $7,913,000

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 2022

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 19,105 $5,786,175,000 $302,000 $42,495,000 $117,000 $6,306,000
Cash-out Refinancing 6,309 $1,409,145,000 $223,000 $24,145,000 $95,000 $4,458,000
Refinancing 4,551 $1,258,245,000 $276,000 $41,005,000 $118,000 $2,452,000
Home Improvement 3,028 $262,820,000 $86,000 $4,005,000 $120,000 $7,913,000
Other Purpose 2,006 $243,780,000 $121,000 $22,085,000 $127,000 $2,912,000
Not Applicable 49 $4,775,000 $97,000 $285,000 $47,000 $78,000

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 25,542 $5,662,070,000 $221,000 $5,205,000 $114,000 $7,913,000
Not applicable 4,011 $2,100,265,000 $523,000 $42,495,000 $131,000 $1,100,000
Not Provided 3,181 $706,145,000 $221,000 $3,005,000 $114,000 $6,306,000
Hispanic 867 $177,315,000 $204,000 $1,585,000 $88,000 $600,000
American Indian or Alaskan Native 545 $103,795,000 $190,000 $1,115,000 $138,000 $6,302,000
Black or African American 471 $105,525,000 $224,000 $1,235,000 $84,000 $1,200,000
Asian 348 $89,350,000 $256,000 $1,205,000 $124,000 $1,018,000
Native Hawaiian or Other Pacific Islander 29 $6,735,000 $232,000 $685,000 $95,000 $240,000

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) 27,371 $7,038,555,000 $257,000 $42,495,000 $122,000 $7,913,000
FHA-insured (Federal Housing Administration) 3,658 $794,300,000 $217,000 $565,000 $80,000 $6,302,000
VA-guaranteed (Veterans Administration) 3,348 $1,008,260,000 $301,000 $1,585,000 $90,000 $1,200,000
FSA/RHS (Farm Service Agency or Rural Housing Service) 671 $123,825,000 $184,000 $415,000 $61,000 $127,000

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 21,297 $5,710,645,000 $268,000 $42,495,000 $120,000 $6,306,000
Application Withdrawn By Applicant 4,695 $1,174,805,000 $250,000 $14,505,000 $115,000 $7,913,000
Loan Purchased By The Institution 4,360 $1,214,760,000 $278,000 $1,695,000 $111,000 $1,196,000
Application Denied By Financial Institution 3,273 $589,845,000 $180,000 $22,685,000 $81,000 $1,673,000
File Closed For Incompleteness 918 $170,080,000 $185,000 $2,605,000 $98,000 $1,580,000
Application Approved But Not Accepted 489 $100,955,000 $206,000 $1,445,000 $116,000 $1,940,000
Preapproval Approved but not Accepted 14 $3,320,000 $237,000 $555,000 $72,000 $123,000
Preapproval Denied by Financial Institution 2 $530,000 $265,000 $305,000 $67,000 $81,000

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 30,774 $8,165,540,000 $265,000 $42,495,000 $118,000 $7,913,000
Debt-To-Income Ratio 2,052 $427,810,000 $208,000 $22,685,000 $83,000 $976,000
Credit History 1,046 $139,050,000 $132,000 $1,365,000 $83,000 $1,305,000
Collateral 453 $74,215,000 $163,000 $9,815,000 $97,000 $1,673,000
Credit Application Incomplete 254 $50,770,000 $199,000 $1,495,000 $104,000 $1,284,000
Other 250 $64,930,000 $259,000 $22,085,000 $90,000 $759,000
Unverifiable Information 99 $20,115,000 $203,000 $635,000 $88,000 $778,000
Insufficient Cash (Downpayment, Closing Cost) 74 $13,560,000 $183,000 $635,000 $88,000 $669,000
Employment History 40 $7,140,000 $178,000 $545,000 $50,000 $200,000
Mortgage Insurance Denied 6 $1,810,000 $301,000 $505,000 $173,000 $367,000
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Mortgage Loan Application Totals in 2022 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 6,623 $ 1,918,005,000 $ 289,000 $ 110,000
SIOUX FALLS, SD 14,899 $ 4,095,365,000 $ 274,000 $ 118,000
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Mortgage Loan Application Totals in 2022 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 77 $ 11,935,000 $ 155,000 $ 70,000
Beadle 300 $ 55,400,000 $ 184,000 $ 84,000
Bennett 35 $ 4,845,000 $ 138,000 $ 87,000
Bon Homme 195 $ 28,765,000 $ 147,000 $ 79,000
Brookings 812 $ 187,770,000 $ 231,000 $ 117,000
Brown 1,256 $ 286,270,000 $ 227,000 $ 104,000
Brule 134 $ 23,980,000 $ 178,000 $ 82,000
Buffalo 1 $ 175,000 $ 175,000 $ 75,000
Butte 504 $ 110,270,000 $ 218,000 $ 95,000
Campbell 28 $ 4,690,000 $ 167,000 $ 104,000
Charles Mix 109 $ 18,985,000 $ 174,000 $ 104,000
Clark 73 $ 10,575,000 $ 144,000 $ 80,000
Clay 459 $ 86,425,000 $ 188,000 $ 90,000
Codington 1,090 $ 245,030,000 $ 224,000 $ 105,000
Corson 14 $ 1,590,000 $ 113,000 $ 112,000
Custer 397 $ 108,295,000 $ 272,000 $ 113,000
Davison 706 $ 131,590,000 $ 186,000 $ 90,000
Day 151 $ 27,745,000 $ 183,000 $ 113,000
Deuel 134 $ 24,360,000 $ 181,000 $ 106,000
Dewey 24 $ 2,540,000 $ 105,000 $ 71,000
Douglas 71 $ 14,565,000 $ 205,000 $ 89,000
Edmunds 91 $ 15,275,000 $ 167,000 $ 176,000
Fall River 400 $ 70,870,000 $ 177,000 $ 96,000
Faulk 29 $ 4,495,000 $ 155,000 $ 103,000
Grant 228 $ 67,350,000 $ 295,000 $ 88,000
Gregory 71 $ 11,585,000 $ 163,000 $ 104,000
Haakon 24 $ 4,200,000 $ 175,000 $ 77,000
Hamlin 286 $ 61,240,000 $ 214,000 $ 118,000
Hand 61 $ 10,935,000 $ 179,000 $ 105,000
Hanson 90 $ 16,190,000 $ 179,000 $ 100,000
Harding 21 $ 3,565,000 $ 169,000 $ 72,000
Hughes 615 $ 137,385,000 $ 223,000 $ 110,000
Hutchinson 197 $ 28,445,000 $ 144,000 $ 79,000
Hyde 21 $ 3,395,000 $ 161,000 $ 81,000
Jackson 26 $ 3,150,000 $ 121,000 $ 92,000
Jerauld 40 $ 6,190,000 $ 154,000 $ 75,000
Jones 5 $ 705,000 $ 141,000 $ 50,000
Kingsbury 144 $ 25,910,000 $ 179,000 $ 119,000
Lake 495 $ 105,275,000 $ 212,000 $ 118,000
Lawrence 1,462 $ 455,090,000 $ 311,000 $ 158,000
Lincoln 4,023 $ 1,275,525,000 $ 317,000 $ 143,000
Lyman 45 $ 7,155,000 $ 159,000 $ 91,000
Marshall 76 $ 16,240,000 $ 213,000 $ 127,000
McCook 258 $ 47,200,000 $ 182,000 $ 88,000
McPherson 38 $ 5,610,000 $ 147,000 $ 74,000
Meade 1,441 $ 410,575,000 $ 284,000 $ 103,000
Mellette 17 $ 2,605,000 $ 153,000 $ 72,000
Miner 41 $ 7,315,000 $ 178,000 $ 51,000
Minnehaha 10,220 $ 2,696,460,000 $ 263,000 $ 111,000
Moody 212 $ 38,470,000 $ 181,000 $ 90,000
Pennington 5,182 $ 1,507,430,000 $ 290,000 $ 111,000
Perkins 35 $ 4,175,000 $ 119,000 $ 70,000
Potter 45 $ 4,195,000 $ 93,000 $ 76,000
Roberts 163 $ 23,665,000 $ 145,000 $ 262,000
Sanborn 34 $ 4,210,000 $ 123,000 $ 89,000
Shannon n/a $ n/a $ n/a $ n/a
Spink 123 $ 19,795,000 $ 160,000 $ 83,000
Stanley 107 $ 32,215,000 $ 301,000 $ 115,000
Sully 64 $ 13,190,000 $ 206,000 $ 105,000
Todd 17 $ 2,255,000 $ 132,000 $ 66,000
Tripp 99 $ 19,155,000 $ 193,000 $ 116,000
Turner 398 $ 76,180,000 $ 191,000 $ 88,000
Union 674 $ 174,990,000 $ 259,000 $ 145,000
Walworth 148 $ 19,690,000 $ 133,000 $ 96,000
Yankton 695 $ 136,385,000 $ 196,000 $ 92,000
Ziebach 5 $ 1,215,000 $ 243,000 $ 120,000

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