Largest lenders in Clay County
| # | Lender | Grade | Applications | Originated | Denial rate | Median rate |
|---|---|---|---|---|---|---|
| 1 | Plains Commerce Bank | B | 37 | 28 | 5.4% | 6.31% |
| 2 | First Dakota National Bank | A | 30 | 25 | 6.7% | 6.38% |
| 3 | First Bank & Trust | C | 27 | 19 | 18.5% | 6.90% |
| 4 | 21st Mortgage | F | 24 | 7 | 33.3% | 11.53% |
| 5 | Voyage Federal Credit Union | C | 19 | 9 | 21.1% | — |
| 6 | BMO Bank | F | 19 | 13 | 10.5% | 9.73% |
| 7 | Triad Financial Services | D | 18 | 3 | 55.6% | 9.94% |
| 8 | First PREMIER Bank | C | 16 | 10 | 31.3% | 7.30% |
| 9 | CorTrust Bank | B | 15 | 12 | 13.3% | — |
| 10 | Bank of Dixon County | – | 13 | 11 | 15.4% | — |
| 11 | Rocket Mortgage | C | 12 | 10 | 16.7% | 6.87% |
| 12 | Cortrust Mortgage | B | 11 | 8 | 9.1% | 6.38% |
| 13 | U.S. Bank | D | 8 | 6 | 0.0% | 6.81% |
| 14 | CU Mortgage Direct | B | 7 | 5 | 0.0% | 5.88% |
| 15 | Mortgage Research Center | C | 7 | 5 | 28.6% | 6.63% |
| 16 | Crosscountry Mortgage | B | 6 | 5 | 0.0% | 6.75% |
| 17 | Central Bank | A | 6 | 6 | 0.0% | 6.19% |
| 18 | Nationstar Mortgage | C | 6 | 5 | 0.0% | 6.63% |
| 19 | Wells Fargo Bank | B | 5 | 2 | 60.0% | 6.19% |
What Clay County borrowers applied for
By loan purpose
By loan type
Why applications were denied
Clay County by year
| Year | Applications | Originated | Denial rate | Median rate | Median loan |
|---|---|---|---|---|---|
| 2023 | 300 | 192 | 15.7% | 6.63% | $155,000 |
| 2024 | 351 | 210 | 16.5% | 7.13% | $135,000 |
| 2025 | 384 | 244 | 17.2% | 6.75% | $165,000 |
Frequently asked questions
17.2% of applications in Clay County were denied in 2025, against 12.8% statewide in South Dakota.
Plains Commerce Bank, with 37 applications in 2025 and a denial rate of 5.4%.
The median mortgage application in Clay County in 2025 was for $165,000; the median property value on originated loans was $305,000.