Mortgage Research Center in South Dakota vs the state
16.7%Denial rate+3.94 pts vs state
24.7%Decision denial rate+8.96 pts vs state
50.3%Origination rate-15.79 pts vs state
6.25%Median rate-0.25 pts vs state
-0.27Rate spread (pts)-0.45 pts vs state
$92kMedian applicant income
298Loans originated
99Denied
Trend in South Dakota
| Year | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| 2023 | 332 | 161 | 14.2% | 6.75% | #17 |
| 2024 | 402 | 215 | 15.2% | 6.25% | #17 |
| 2025 | 593 | 298 | 16.7% | 6.25% | #14 |
What Mortgage Research Center lends in South Dakota
By loan purpose
By loan type
Why it denied South Dakota applicants
Where in South Dakota
Counties with the most Mortgage Research Center applications in 2025.
| County | Applications | Originated | Denied | Denial rate |
|---|---|---|---|---|
| Pennington County | 161 | 90 | 26 | 16.1% |
| Minnehaha County | 81 | 41 | 16 | 19.8% |
| Meade County | 45 | 20 | 11 | 24.4% |
| Lincoln County | 43 | 20 | 6 | 14.0% |
| Brown County | 21 | 11 | 2 | 9.5% |
| Lawrence County | 20 | 11 | 4 | 20.0% |
| Codington County | 18 | 8 | 3 | 16.7% |
| Brookings County | 16 | 9 | 2 | 12.5% |
| Union County | 16 | 8 | 2 | 12.5% |
| Hughes County | 14 | 7 | 0 | 0.0% |
Other large lenders in South Dakota
| Lender | Grade | Applications | Denial rate | Median rate |
|---|---|---|---|---|
| Plains Commerce Bank | B | 2,280 | 5.5% | 6.25% |
| First PREMIER Bank | C | 1,389 | 11.7% | 6.88% |
| First Bank & Trust | C | 1,320 | 11.2% | 6.63% |
| Black Hills Federal Credit Union | D | 1,223 | 23.0% | 7.75% |
| Rocket Mortgage | C | 1,027 | 16.9% | 6.75% |
| CMG Mortgage | A | 919 | 2.3% | 6.38% |
| Bankwest | F | 786 | 14.0% | 7.25% |
| First Dakota National Bank | A | 690 | 4.6% | 6.50% |
| Levo Federal Credit Union | B | 644 | 6.8% | 7.50% |
| U.S. Bank | D | 637 | 24.0% | 6.99% |
Frequently asked questions
South Dakota: 593 applications in 2025, of which 298 were originated and 99 denied.
16.7% of all applications, or 24.7% of the applications it actually decided on. The South Dakota statewide average across all lenders was 12.8%.
The median rate on loans Mortgage Research Center originated in South Dakota in 2025 was 6.25%, against a statewide median of 6.50%.
About this data. Figures are Mortgage Research Center's own HMDA filing for properties located in South Dakota, 2025. The grade is national; state-level figures are shown for context and are not separately graded. Methodology