Largest lenders in Lake County
| # | Lender | Grade | Applications | Originated | Denial rate | Median rate |
|---|---|---|---|---|---|---|
| 1 | First PREMIER Bank | C | 61 | 48 | 9.8% | 6.91% |
| 2 | First Bank & Trust | C | 45 | 35 | 17.8% | 6.90% |
| 3 | Plains Commerce Bank | B | 39 | 28 | 2.6% | 6.38% |
| 4 | CU Mortgage Direct | B | 26 | 21 | 3.9% | 6.50% |
| 5 | Bankwest | F | 22 | 18 | 9.1% | 6.98% |
| 6 | Rocket Mortgage | C | 16 | 12 | 25.0% | 6.63% |
| 7 | First Interstate Bank | D | 13 | 6 | 15.4% | 8.75% |
| 8 | Mortgage Research Center | C | 9 | 5 | 11.1% | 6.25% |
| 9 | Levo Federal Credit Union | B | 8 | 4 | 25.0% | 7.00% |
| 10 | Quoin Financial Bank | – | 6 | 6 | 0.0% | — |
| 11 | First International Bank & Trust | B | 6 | 5 | 16.7% | 7.50% |
| 12 | Figure Lending | C | 6 | 1 | 66.7% | 8.00% |
| 13 | The First National Bank in Sioux Falls | A | 5 | 4 | 0.0% | — |
| 14 | U.S. Bank | D | 5 | 1 | 40.0% | 7.13% |
| 15 | Freedom Mortgage | B | 5 | 3 | 0.0% | 5.38% |
Best approval odds in Lake County
Lowest decision denial rate among lenders that decided at least 50 applications here in 2025.
| # | Lender | Decided | Decision denial rate |
|---|---|---|---|
| 1 | First PREMIER Bank | 54 | 11.1% |
What Lake County borrowers applied for
By loan purpose
By loan type
Why applications were denied
Lake County by year
| Year | Applications | Originated | Denial rate | Median rate | Median loan |
|---|---|---|---|---|---|
| 2023 | 320 | 229 | 12.2% | 6.99% | $155,000 |
| 2024 | 306 | 210 | 13.4% | 6.75% | $175,000 |
| 2025 | 370 | 262 | 13.2% | 6.63% | $185,000 |
Frequently asked questions
13.2% of applications in Lake County were denied in 2025, against 12.8% statewide in South Dakota.
First PREMIER Bank, with 61 applications in 2025 and a denial rate of 9.8%.
The median mortgage application in Lake County in 2025 was for $185,000; the median property value on originated loans was $325,000.