Sioux Falls
Metropolitan Statistical Area · MSA Code 43620
Mortgage lending activity in the Sioux Falls metro area based on lender filings under the Home Mortgage Disclosure Act (HMDA). Data covers all applications received by HMDA-reporting institutions operating in this geography during 2024.
Metro-area mortgage activity. The Sioux Falls Metropolitan Statistical Area (MSA code 43620) recorded 11,352 HMDA-reported mortgage applications in 2024. Lenders originated 6,924 of those and denied others at a rate of 11.6%, for an approval (origination) rate of 61.0%. The average loan amount across the MSA was $265,034 at an average note rate of 7.06%. 20 major lenders are tracked for this metro — Plains Commerce Bank, FIRST PREMIER BANK, First Bank & Trust lead by origination volume.
What MSA numbers tell you — and what they don't. Metro area boundaries are defined by the U.S. Office of Management and Budget and typically span multiple counties, so a single Sioux Falls denial rate averages across urban core, inner suburbs, and outer commuter communities with very different borrower profiles. Metro denial rates are shaped primarily by applicant mix — credit profile, loan-to-value, debt-to-income, property type — not by a single "local market" stance. A $11.6% denial rate at the MSA level can coexist with widely varying individual-lender denial rates; $265,034 average loan size reflects the MSA's property values and the borrower pool that actually applied, not any single neighborhood.
How to use this page. These are aggregate 2024 HMDA disclosures published by the Consumer Financial Protection Bureau — federal transparency data, not a real-time mortgage rate quote. A metro-level number is useful context but says nothing about what any particular lender will offer a specific borrower; rates, fees, and underwriting vary by lender, product, and file. This page is informational data reporting, not financial, legal, or mortgage advice. Shop at least three lenders, compare Loan Estimates carefully, and consult a licensed mortgage professional before applying. Data reflects the CFPB HMDA 2024 Snapshot National Loan-Level Dataset.
Nearby Lenders in Sioux Falls
HMDA-reporting mortgage lenders ranked by loan originations in the Sioux Falls metro area (2024). Compare any two side-by-side.
| # | Lender | Originated | Applications | Avg Loan | Market Share |
|---|---|---|---|---|---|
| 1 | Plains Commerce Bank | 1,274 | 1,727 | $281,479 | 18.4% |
| 2 | FIRST PREMIER BANK | 633 | 984 | $237,114 | 9.1% |
| 3 | First Bank & Trust | 509 | 720 | $256,347 | 7.4% |
| 4 | Levo Federal Credit Union | 482 | 595 | $141,790 | 7.0% |
| 5 | First Dakota National Bak | 276 | 335 | $390,463 | 4.0% |
Understanding This Data
Application Volume
The 11,352 applications recorded here represent every mortgage application reported by lenders with originations in the Sioux Falls MSA. This includes home purchase, refinance, and home improvement loans.
Denial Rate Context
A denial rate of 11.6% means approximately 11.6% of all applications filed in this metro were denied. The average loan amount of $265,034 reflects the median property values and borrower profiles in this market.
Frequently Asked Questions
How many mortgage applications were filed in the Sioux Falls metro area?
What is the mortgage denial rate in the Sioux Falls metro?
What is the average mortgage loan amount in the Sioux Falls area?
Who are the largest mortgage lenders in the Sioux Falls area?
What is the source of this mortgage lending data?
Mortgage Lending Guides
Source: Consumer Financial Protection Bureau (CFPB), Home Mortgage Disclosure Act (HMDA) 2024. Metropolitan Statistical Areas defined by the U.S. Office of Management and Budget (OMB).
Data from FFIEC / CFPB HMDA Snapshot National Loan-Level Dataset (2024). Provided for informational purposes only; does not constitute financial advice.
Read our methodology — how this data is sourced, computed, and verified.
