First Dakota National Bank at a glance, 2025
Every figure is from the lender's own HMDA filing. "vs national" compares with all lenders combined.
How the A grade breaks down
Each component is a percentile rank among 1,883 small mortgage lenders. Higher is better. Components the lender does not report are left out and the weights redistributed.
Approval oddsdecision denial rate, weight 45%
74th4.8% deniedPricingmedian rate spread over APOR, weight 30%
82nd-0.01 ptsProcesswithdrawn + incomplete share, weight 15%
52nd11.2%Closing coststotal loan costs ÷ loan amount, weight 10%
84th1.04% of loanTrend, 2023–2025
| Year | Applications | Originated | Denial rate | Decision denial | Median rate | Volume |
|---|---|---|---|---|---|---|
| 2023 | 703 | 577 | 5.7% | 6.4% | 6.75% | $211M |
| 2024 | 708 | 573 | 5.9% | 6.8% | 6.63% | $225M |
| 2025 | 753 | 633 | 4.3% | 4.8% | 6.50% | $263M |
What First Dakota National Bank lends
Applications by purpose and loan type in 2025, with the denial rate for each. A lender's mix explains a lot of its headline rate: HELOCs and FHA loans are denied far more often than conventional purchase loans.
By loan purpose
By loan type
Also: 0 home-equity lines, 0 reverse mortgages, 7 manufactured homes, 101 investment properties.
Why First Dakota National Bank denies applications
Primary reason reported for each of the 32 denials in 2025. Lenders can cite up to four reasons; this is the first one listed.
Who gets approved at First Dakota National Bank
Decision denial rate by applicant profile. Groups with fewer than 20 applications are omitted.
| Applicant income | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under $50k | 40 | 32 | 15.8% |
| $50k – $100k | 200 | 169 | 2.9% |
| $100k – $150k | 150 | 131 | 2.9% |
| $150k – $250k | 114 | 92 | 1.1% |
| Over $250k | 133 | 115 | 0.0% |
| Applicant age | Applications | Originated | Decision denial rate |
|---|---|---|---|
| Under 25 | 68 | 56 | 8.2% |
| 25–34 | 160 | 132 | 5.7% |
| 35–44 | 181 | 153 | 5.6% |
| 45–54 | 133 | 102 | 5.5% |
| 55–64 | 84 | 72 | 2.7% |
| 65–74 | 41 | 36 | 5.3% |
Where First Dakota National Bank lends
16 states and 71 counties in 2025. Click a state for the lender's full record there.
| State | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| South Dakota | 690 | 576 | 4.6% | 6.50% | #8 |
| Minnesota | 16 | 14 | 0.0% | 6.75% | #411 |
| Iowa | 13 | 13 | 0.0% | 7.40% | #332 |
| Nebraska | 13 | 12 | 0.0% | 6.50% | #233 |
Frequently asked questions
First Dakota National Bank denied 4.8% of the applications it decided on in 2025. The national figure across all lenders was 22.6%. On approval odds it ranks in the 74th percentile of small mortgage lenders.
The most common reason First Dakota National Bank gave in 2025 was "debt-to-income ratio", cited on 40.6% of its denials. Lenders report up to four reasons per denial to the CFPB; the full breakdown is on this page.
The median interest rate on loans First Dakota National Bank originated in 2025 was 6.50%, and its median rate spread over the average prime offer rate was -0.01 points. Rates on this page are what borrowers actually got, not advertised rates.
In 2025, 71% of its applications were for home purchases, 23% for refinancing (including cash-out), and 6% for home improvement or other purposes. By loan type: 90% conventional, 6% FHA, 2% VA.
Every figure on this page comes from the Home Mortgage Disclosure Act (HMDA) Loan/Application Register published by the CFPB, which lenders are required by federal law to file. We add the grade and the comparisons; we do not add facts.