South Dakota Mortgage Lenders & HMDA Data, 2024
In 2024, lenders reported 26,663 mortgage applications in South Dakota totaling $6.7 billion, up 11% from 2023. The average application was for $249,000, and applicants reported an average income of $130,000. 59% of applications resulted in an originated loan and 13% were denied. The most active lenders were Plains Commerce Bank (2,611 applications), Black Hills Federal Credit Union 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 | 26,663 |
| Total Mortgage Loan Application Amount | $6,662,655,000 |
| Average Mortgage Loan Application Amount | $249,000 |
| Highest Mortgage Loan Application Amount | $32,405,000 |
| Average Applicant Income | $130,000 |
| Highest Applicant Income | $9,210,000 |
Top 25 Mortgage Lenders in South Dakota (2024)
Ranked by the number of mortgage applications each lender received for properties in South Dakota in 2024, 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 |
2,611 | $714,935,000 | $273,816 | $122,124 |
| 2 | Black Hills Federal Credit Union Rapid City, SD |
1,632 | $284,830,000 | $174,528 | $114,759 |
| 3 | First Bank & Trust Brookings, SD |
1,373 | $309,805,000 | $225,640 | $146,986 |
| 4 | First Premier Bank Sioux Falls, SD |
1,346 | $305,330,000 | $226,842 | $131,159 |
| 5 | Bankwest, Inc. Pierre, SD |
767 | $159,595,000 | $208,076 | $96,176 |
| 6 | US Bank, N.A. Cincinnati, OH |
689 | $149,195,000 | $216,538 | $144,039 |
| 7 | First Interstate Bank Billings, MT |
664 | $98,150,000 | $147,816 | $132,281 |
| 8 | PennyMac Loan Services LLC Westlake Village, CA |
655 | $174,535,000 | $266,465 | $104,470 |
| 9 | First Dakota National Bak Yankton, SD |
652 | $224,150,000 | $343,788 | $170,866 |
| 10 | CMG Mortgage Inc San Ramon, IL |
635 | $201,935,000 | $318,007 | $125,524 |
| 11 | Levo Federal Credit Union Sioux Falls, SD |
630 | $91,870,000 | $145,825 | $114,266 |
| 12 | Newrez LLC Fort Washington, PA |
576 | $176,190,000 | $305,885 | $110,627 |
| 13 | American Bank & Trust Sioux Falls, SD |
559 | $140,365,000 | $251,100 | $150,602 |
| 14 | Dacotah Bank Aberdeen, SD |
491 | $115,985,000 | $236,221 | $136,110 |
| 15 | Discover Bank Greenwood, DE |
460 | $35,180,000 | $76,478 | $128,571 |
| 16 | Freedom Mortgage Corporation Boca Raton, FL |
448 | $147,630,000 | $329,531 | $97,767 |
| 17 | United Wholesale Mortgage Plymouth, MI |
415 | $135,835,000 | $327,313 | $116,236 |
| 18 | First International Bank & Trust Minot, ND |
412 | $106,540,000 | $258,592 | $123,276 |
| 19 | Fairway Independent Mort Corp Madison, WI |
406 | $108,100,000 | $266,256 | $103,330 |
| 20 | Mortgage Research Center Columbia, MO |
402 | $116,220,000 | $289,104 | $100,617 |
| 21 | Citizens Bank, NA Providence, RI |
398 | $105,850,000 | $265,954 | $146,097 |
| 22 | Amerihome Mortgage Company, LLC Thousand Oaks, CA |
314 | $97,880,000 | $311,719 | $119,407 |
| 23 | First National Bank of Omaha Omaha, NE |
306 | $100,010,000 | $326,830 | $155,383 |
| 24 | Cortrust Bank Mitchell, SD |
297 | $34,165,000 | $115,033 | $134,750 |
| 25 | Wells Fargo Bank NA Minneapolis, MN |
266 | $61,600,000 | $231,578 | $107,349 |
The tables below break down 2024 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 2024
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 | 14,842 | $4,484,910,000 | $302,000 | $32,405,000 | $133,000 | $8,615,000 |
| Cash-out Refinancing | 3,590 | $754,410,000 | $210,000 | $4,175,000 | $106,000 | $1,800,000 |
| Refinancing | 3,374 | $979,520,000 | $290,000 | $22,455,000 | $145,000 | $7,806,000 |
| Other Purpose | 2,548 | $238,930,000 | $93,000 | $5,685,000 | $132,000 | $9,210,000 |
| Home Improvement | 2,290 | $203,270,000 | $88,000 | $4,215,000 | $127,000 | $2,636,000 |
| Not Applicable | 19 | $1,615,000 | $85,000 | $205,000 | $84,000 | $92,000 |
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 | 18,906 | $4,395,190,000 | $232,000 | $4,005,000 | $130,000 | $9,210,000 |
| Not Provided | 2,847 | $581,465,000 | $204,000 | $3,005,000 | $131,000 | $4,042,000 |
| Not applicable | 2,787 | $1,218,245,000 | $437,000 | $32,405,000 | $184,000 | $961,000 |
| Hispanic | 895 | $179,345,000 | $200,000 | $905,000 | $104,000 | $1,854,000 |
| American Indian or Alaskan Native | 453 | $88,405,000 | $195,000 | $765,000 | $121,000 | $3,528,000 |
| Asian | 380 | $103,990,000 | $273,000 | $1,825,000 | $154,000 | $916,000 |
| Black or African American | 372 | $90,730,000 | $243,000 | $815,000 | $109,000 | $1,200,000 |
| Native Hawaiian or Other Pacific Islander | 23 | $5,285,000 | $229,000 | $605,000 | $100,000 | $538,000 |
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) | 19,731 | $4,686,155,000 | $237,000 | $32,405,000 | $140,000 | $9,210,000 |
| FHA-insured (Federal Housing Administration) | 3,808 | $972,860,000 | $255,000 | $2,025,000 | $89,000 | $3,528,000 |
| VA-guaranteed (Veterans Administration) | 2,785 | $940,965,000 | $337,000 | $1,505,000 | $107,000 | $820,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 339 | $62,675,000 | $184,000 | $455,000 | $76,000 | $171,000 |
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 | 15,852 | $4,063,580,000 | $256,000 | $32,405,000 | $137,000 | $9,210,000 |
| Application Withdrawn By Applicant | 3,567 | $994,145,000 | $278,000 | $22,455,000 | $132,000 | $8,615,000 |
| Application Denied By Financial Institution | 3,372 | $554,560,000 | $164,000 | $4,215,000 | $94,000 | $2,636,000 |
| Loan Purchased By The Institution | 2,597 | $811,555,000 | $312,000 | $1,825,000 | $156,000 | $1,050,000 |
| File Closed For Incompleteness | 742 | $135,320,000 | $182,000 | $5,855,000 | $123,000 | $4,042,000 |
| Application Approved But Not Accepted | 508 | $95,650,000 | $188,000 | $995,000 | $117,000 | $2,108,000 |
| Preapproval Denied by Financial Institution | 13 | $3,235,000 | $248,000 | $655,000 | $80,000 | $249,000 |
| Preapproval Approved but not Accepted | 12 | $4,610,000 | $384,000 | $565,000 | $140,000 | $291,000 |
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 | 22,382 | $5,850,380,000 | $261,000 | $32,405,000 | $135,000 | $9,210,000 |
| Debt-To-Income Ratio | 2,152 | $474,130,000 | $220,000 | $17,005,000 | $103,000 | $5,905,000 |
| Credit History | 955 | $134,455,000 | $140,000 | $2,005,000 | $97,000 | $1,800,000 |
| Collateral | 433 | $66,425,000 | $153,000 | $4,215,000 | $123,000 | $2,636,000 |
| Credit Application Incomplete | 380 | $65,440,000 | $172,000 | $1,175,000 | $116,000 | $1,650,000 |
| Other | 188 | $36,620,000 | $194,000 | $1,205,000 | $123,000 | $744,000 |
| Unverifiable Information | 71 | $14,415,000 | $203,000 | $1,005,000 | $110,000 | $444,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 63 | $13,485,000 | $214,000 | $585,000 | $85,000 | $276,000 |
| Employment History | 38 | $7,060,000 | $185,000 | $595,000 | $63,000 | $175,000 |
| Mortgage Insurance Denied | 1 | $245,000 | $245,000 | $245,000 | $106,000 | $106,000 |
Mortgage Loan Application Totals in 2024 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 | 5,364 | $ 1,472,560,000 | $ 274,000 | $ 126,000 |
| Sioux Falls, SD | 11,064 | $ 2,962,050,000 | $ 267,000 | $ 135,000 |
Mortgage Loan Application Totals in 2024 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 | 46 | $ 10,010,000 | $ 217,000 | $ 219,000 |
| Beadle | 332 | $ 59,520,000 | $ 179,000 | $ 102,000 |
| Bennett | 30 | $ 3,920,000 | $ 130,000 | $ 80,000 |
| Bon Homme | 104 | $ 16,660,000 | $ 160,000 | $ 88,000 |
| Brookings | 789 | $ 192,685,000 | $ 244,000 | $ 132,000 |
| Brown | 759 | $ 177,385,000 | $ 233,000 | $ 122,000 |
| Brule | 62 | $ 10,880,000 | $ 175,000 | $ 88,000 |
| Buffalo | n/a | $ n/a | $ n/a | $ n/a |
| Butte | 380 | $ 81,070,000 | $ 213,000 | $ 107,000 |
| Campbell | 15 | $ 1,335,000 | $ 89,000 | $ 126,000 |
| Charles Mix | 87 | $ 17,445,000 | $ 200,000 | $ 104,000 |
| Clark | 59 | $ 10,875,000 | $ 184,000 | $ 99,000 |
| Clay | 383 | $ 66,855,000 | $ 174,000 | $ 112,000 |
| Codington | 840 | $ 182,670,000 | $ 217,000 | $ 112,000 |
| Corson | 11 | $ 1,665,000 | $ 151,000 | $ 110,000 |
| Custer | 370 | $ 94,320,000 | $ 254,000 | $ 126,000 |
| Davison | 559 | $ 119,325,000 | $ 213,000 | $ 114,000 |
| Day | 98 | $ 19,570,000 | $ 199,000 | $ 143,000 |
| Deuel | 114 | $ 21,130,000 | $ 185,000 | $ 101,000 |
| Dewey | 17 | $ 1,585,000 | $ 93,000 | $ 75,000 |
| Douglas | 79 | $ 12,825,000 | $ 162,000 | $ 141,000 |
| Edmunds | 55 | $ 9,285,000 | $ 168,000 | $ 147,000 |
| Fall River | 323 | $ 59,615,000 | $ 184,000 | $ 97,000 |
| Faulk | 21 | $ 4,335,000 | $ 206,000 | $ 115,000 |
| Grant | 183 | $ 29,355,000 | $ 160,000 | $ 113,000 |
| Gregory | 78 | $ 12,800,000 | $ 164,000 | $ 96,000 |
| Haakon | 33 | $ 5,345,000 | $ 161,000 | $ 101,000 |
| Hamlin | 226 | $ 50,090,000 | $ 221,000 | $ 144,000 |
| Hand | 69 | $ 11,415,000 | $ 165,000 | $ 88,000 |
| Hanson | 78 | $ 18,240,000 | $ 233,000 | $ 119,000 |
| Harding | 14 | $ 2,260,000 | $ 161,000 | $ 111,000 |
| Hughes | 511 | $ 106,385,000 | $ 208,000 | $ 112,000 |
| Hutchinson | 157 | $ 26,195,000 | $ 166,000 | $ 86,000 |
| Hyde | 19 | $ 2,545,000 | $ 133,000 | $ 123,000 |
| Jackson | 18 | $ 1,710,000 | $ 95,000 | $ 76,000 |
| Jerauld | 27 | $ 3,715,000 | $ 137,000 | $ 91,000 |
| Jones | 2 | $ 310,000 | $ 155,000 | $ 70,000 |
| Kingsbury | 156 | $ 28,710,000 | $ 184,000 | $ 102,000 |
| Lake | 346 | $ 82,350,000 | $ 238,000 | $ 141,000 |
| Lawrence | 1,022 | $ 309,510,000 | $ 302,000 | $ 170,000 |
| Lincoln | 3,055 | $ 888,615,000 | $ 290,000 | $ 159,000 |
| Lyman | 38 | $ 6,610,000 | $ 173,000 | $ 93,000 |
| Marshall | 45 | $ 7,495,000 | $ 166,000 | $ 117,000 |
| McCook | 203 | $ 40,345,000 | $ 198,000 | $ 106,000 |
| McPherson | 17 | $ 1,255,000 | $ 73,000 | $ 72,000 |
| Meade | 1,067 | $ 291,595,000 | $ 273,000 | $ 124,000 |
| Mellette | 10 | $ 1,040,000 | $ 104,000 | $ 120,000 |
| Miner | 48 | $ 8,000,000 | $ 166,000 | $ 82,000 |
| Minnehaha | 7,460 | $ 1,968,810,000 | $ 263,000 | $ 128,000 |
| Moody | 167 | $ 33,375,000 | $ 199,000 | $ 105,000 |
| Oglala Lakota | 10 | $ 1,120,000 | $ 112,000 | $ 88,000 |
| Pennington | 3,927 | $ 1,086,645,000 | $ 276,000 | $ 126,000 |
| Perkins | 36 | $ 4,720,000 | $ 131,000 | $ 100,000 |
| Potter | 63 | $ 8,985,000 | $ 142,000 | $ 125,000 |
| Roberts | 133 | $ 19,705,000 | $ 148,000 | $ 186,000 |
| Sanborn | 33 | $ 5,015,000 | $ 151,000 | $ 101,000 |
| Shannon | n/a | $ n/a | $ n/a | $ n/a |
| Spink | 69 | $ 10,385,000 | $ 150,000 | $ 102,000 |
| Stanley | 92 | $ 22,440,000 | $ 243,000 | $ 137,000 |
| Sully | 44 | $ 9,030,000 | $ 205,000 | $ 346,000 |
| Todd | 15 | $ 4,425,000 | $ 295,000 | $ 75,000 |
| Tripp | 43 | $ 6,865,000 | $ 159,000 | $ 76,000 |
| Turner | 346 | $ 64,280,000 | $ 185,000 | $ 103,000 |
| Union | 600 | $ 156,570,000 | $ 260,000 | $ 167,000 |
| Walworth | 100 | $ 15,690,000 | $ 156,000 | $ 102,000 |
| Yankton | 569 | $ 133,635,000 | $ 234,000 | $ 120,000 |
| Ziebach | 1 | $ 105,000 | $ 105,000 | $ 80,000 |
Our comprehensive HMDA mortgage statistics offer invaluable insights into South Dakota's 2024 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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