South Dakota Mortgage Lending
310 lenders reporting under HMDA
Statewide mortgage activity. Lenders filed 26,718 HMDA-reported mortgage applications in South Dakota in 2024, originating 15,894 loans and denying 3,371. That puts the statewide denial rate at 12.6% and the approval (origination) rate at 59.5%. The average loan amount across South Dakota was $250,754 at an average note rate of 7.06%. 310 distinct institutions — banks, credit unions, and independent mortgage companies — filed HMDA data covering activity in the state. Applications span 65 counties and 4 metropolitan areas.
What drives state-level differences. State mortgage denial rates reflect applicant mix more than lender stance. Credit profiles, loan-to-value ratios, debt-to-income, property type, and rural-versus-urban composition all move the number before any lender policy does. Demographic lending data reported under HMDA shows variation across applicant groups — for example, White applicants had an approval rate of 66.3% and denial rate of 12.4%; while Joint applicants had an approval rate of 63.3% and denial rate of 14.3%. These are derived race categories as reported by applicants and do not by themselves prove causation; credit score, income, and loan-to-value are not reported in HMDA and drive much of the underlying variation. Top counties by volume include Minnehaha County, Pennington County, Lincoln County.
How to read this page. These are aggregate 2024 HMDA disclosures published by the Consumer Financial Protection Bureau — a federal transparency dataset, not a real-time market feed. A state-level number is useful for context but cannot tell you what rate, fees, or underwriting any individual lender will offer a specific borrower. This page is informational data reporting, not financial, legal, or mortgage advice. Shop at least three lenders, compare Loan Estimates line-by-line, and consult a licensed mortgage professional before applying. Data reflects the CFPB HMDA 2024 Snapshot National Loan-Level Dataset; demographic fields reflect derived categories as reported by applicants.
Nearby Lenders in South Dakota
Top HMDA-reporting lenders active in South Dakota. Compare any two side-by-side for rates, denial rates, and loan mix.
| # | Lender | Originated | Market Share |
|---|---|---|---|
| 1 | Plains Commerce Bank | 1,903 | 12.0% |
| 2 | First Bank & Trust | 980 | 6.2% |
| 3 | BLACK HILLS FEDERAL CREDIT UNION | 958 | 6.0% |
| 4 | FIRST PREMIER BANK | 866 | 5.4% |
| 5 | ROCKET MORTGAGE | 602 | 3.8% |
Lending by Race in South Dakota
Derived race categories as reported under HMDA. Source: CFPB.
| Race | Applications | Approval Rate | Denial Rate |
|---|---|---|---|
| White | 19,352 | 66.3% | 12.4% |
| Joint | 482 | 63.3% | 14.3% |
| American Indian or Alaska Native | 355 | 50.7% | 25.9% |
| Asian | 344 | 56.1% | 15.1% |
| Black or African American | 341 | 51.3% | 22.6% |
| Native Hawaiian or Other Pacific Islander | 26 | 50.0% | 26.9% |
| 2 or more minority races | 22 | 59.1% | 13.6% |
Counties in South Dakota
| County | Applications | Originated | Denial Rate | Avg Loan |
|---|---|---|---|---|
| Minnehaha County | 7,460 | 4,549 | 11.8% | $263,916 |
| Pennington County | 3,927 | 2,315 | 12.3% | $276,711 |
| Lincoln County | 3,055 | 1,889 | 10.4% | $290,872 |
| Meade County | 1,067 | 593 | 13.6% | $273,285 |
| Lawrence County | 1,022 | 587 | 13.2% | $302,847 |
| Codington County | 840 | 520 | 13.3% | $217,464 |
| Brookings County | 789 | 481 | 11.8% | $244,214 |
| Brown County | 759 | 486 | 12.0% | $233,709 |
| Union County | 600 | 379 | 11.2% | $260,950 |
| Yankton County | 569 | 341 | 12.5% | $234,859 |
| Davison County | 559 | 358 | 9.3% | $213,462 |
| Hughes County | 511 | 274 | 14.5% | $208,190 |
| Clay County | 383 | 210 | 15.1% | $174,556 |
| Butte County | 380 | 199 | 17.1% | $213,342 |
| Custer County | 370 | 205 | 14.3% | $254,919 |
| Lake County | 346 | 210 | 11.8% | $238,006 |
| Turner County | 346 | 190 | 16.8% | $185,780 |
| Beadle County | 332 | 165 | 16.6% | $179,277 |
| Fall River County | 323 | 177 | 16.4% | $184,567 |
| Hamlin County | 226 | 137 | 10.6% | $221,637 |
| McCook County | 203 | 125 | 11.8% | $198,744 |
| Grant County | 183 | 103 | 12.0% | $160,410 |
| Moody County | 167 | 98 | 12.6% | $199,850 |
| Hutchinson County | 157 | 96 | 17.8% | $166,847 |
| Kingsbury County | 156 | 82 | 20.5% | $184,038 |
| Roberts County | 133 | 70 | 15.8% | $148,158 |
| Deuel County | 114 | 69 | 17.5% | $185,351 |
| Bon Homme County | 104 | 50 | 17.3% | $160,192 |
| Walworth County | 100 | 52 | 20.0% | $156,900 |
| Day County | 98 | 69 | 13.3% | $199,694 |
| Stanley County | 92 | 45 | 10.9% | $243,913 |
| Charles Mix County | 87 | 55 | 12.6% | $200,517 |
| Douglas County | 79 | 39 | 21.5% | $162,342 |
| Hanson County | 78 | 45 | 10.3% | $233,846 |
| Gregory County | 78 | 39 | 21.8% | $164,103 |
| Spink County | 69 | 38 | 21.7% | $150,507 |
| Hand County | 69 | 37 | 14.5% | $165,435 |
| Potter County | 63 | 35 | 19.1% | $142,619 |
| Brule County | 62 | 35 | 14.5% | $175,484 |
| Clark County | 59 | 38 | 13.6% | $184,322 |
| Edmunds County | 55 | 34 | 14.6% | $168,818 |
| Miner County | 48 | 35 | 12.5% | $166,667 |
| Aurora County | 46 | 31 | 17.4% | $217,609 |
| Marshall County | 45 | 26 | 17.8% | $166,556 |
| Sully County | 44 | 21 | 9.1% | $205,227 |
| Tripp County | 43 | 22 | 9.3% | $159,651 |
| Lyman County | 38 | 20 | 15.8% | $173,947 |
| Perkins County | 36 | 22 | 22.2% | $131,111 |
| Sanborn County | 33 | 18 | 24.2% | $151,970 |
| Haakon County | 33 | 15 | 18.2% | $161,970 |
| Bennett County | 30 | 11 | 30.0% | $130,667 |
| Jerauld County | 27 | 15 | 18.5% | $137,593 |
| Faulk County | 21 | 16 | 0.0% | $206,429 |
| Hyde County | 19 | 12 | 21.1% | $133,947 |
| Jackson County | 18 | 12 | 11.1% | $95,000 |
| McPherson County | 17 | 8 | 17.6% | $73,824 |
| Dewey County | 17 | 6 | 35.3% | $93,235 |
| Campbell County | 15 | 10 | 13.3% | $89,000 |
| Todd County | 15 | 9 | 26.7% | $295,000 |
| Harding County | 14 | 7 | 7.1% | $161,429 |
| Corson County | 11 | 6 | 18.2% | $151,364 |
| Oglala Lakota County | 10 | 6 | 40.0% | $112,000 |
| Mellette County | 10 | 4 | 10.0% | $104,000 |
| Jones County | 2 | 1 | 50.0% | $155,000 |
| Ziebach County | 1 | 0 | 0.0% | $105,000 |
Metro Areas in South Dakota
Frequently Asked Questions
How many mortgage applications were filed in South Dakota?
What is the mortgage denial rate in South Dakota?
What is the average mortgage loan amount in South Dakota?
How many mortgage lenders operate in South Dakota?
How do mortgage denial rates vary by demographics in South Dakota?
Which counties in South Dakota have the most mortgage activity?
Mortgage Lending Guides
Source: Consumer Financial Protection Bureau (CFPB), Home Mortgage Disclosure Act (HMDA) 2024. State geography per U.S. Census Bureau standards.
Data from FFIEC / CFPB HMDA Snapshot National Loan-Level Dataset (2024). Demographic data reflects derived categories as reported by applicants. Provided for informational purposes only.
Read our methodology — how this data is sourced, computed, and verified.
