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Pennington County, South Dakota · 2025

Mortgage lenders in Pennington County, SD: denial rates and top lenders (2025)

184 lenders acted on 4,145 mortgage applications for properties in Pennington County in 2025. 13.2% were denied (South Dakota: 12.8%). Median rate on closed loans 6.50%; median loan $265,000; median property value $355,000.

4.1kApplications
13.2%Denial ratestate 12.8%
6.50%Median ratestate 6.50%
$265,000Median loan
$355,000Median property value

Largest lenders in Pennington County

#LenderGradeApplicationsOriginatedDenial rateMedian rate
1 CMG Mortgage A 573430 2.1%6.38%
2 Black Hills Federal Credit Union D 545315 24.6%7.75%
3 Granite Bank B 191144 7.9%6.13%
4 Plains Commerce Bank B 190134 5.8%6.13%
5 Rocket Mortgage C 176140 13.1%6.63%
6 United Shore Financial Services B 161139 1.9%6.13%
7 Mortgage Research Center C 16190 16.2%6.25%
8 U.S. Bank D 11566 26.1%7.53%
9 Bankwest F 10865 14.8%8.13%
10 American Neighborhood Mortgage Acceptance Company B 10585 0.0%6.25%
11 Pennymac Loan Services C 10159 5.9%6.63%
12 Freedom Mortgage B 9848 3.1%5.75%
13 Newrez D 7537 16.0%6.63%
14 Kind Lending C 7354 15.1%6.31%
15 Gateway First Bank B 7349 4.1%6.38%
16 Aspen – 7144 4.2%7.25%
17 American Pacific Mortgage C 6651 6.1%6.63%
18 Black Hills Community Bank C 6441 12.5%—
19 Dacotah Bank B 5647 3.6%6.63%
20 First National Bank B 5443 7.4%—
21 Pioneer Bank & Trust C 5238 9.6%—
22 First Interstate Bank D 5125 33.3%8.38%
23 Navy Federal Credit Union D 5027 20.0%6.00%
24 Lakeview Loan Servicing C 4710 44.7%5.94%
25 AmeriSave Mortgage D 389 55.3%8.38%

Best approval odds in Pennington County

Lowest decision denial rate among lenders that decided at least 50 applications here in 2025.

#LenderDecidedDecision denial rate
1American Neighborhood Mortgage Acceptance Company850.0%
2United Shore Financial Services1432.1%
3CMG Mortgage4842.5%
4Freedom Mortgage634.8%
5Gateway First Bank525.8%
6American Pacific Mortgage557.3%
7Plains Commerce Bank1457.6%
8Pennymac Loan Services679.0%
9Granite Bank1599.4%
10Rocket Mortgage16813.7%

What Pennington County borrowers applied for

By loan purpose

Home purchase 2,196 53% · 6.3% denied
Refinance 661 16% · 13.0% denied
Cash-out refinance 678 16% · 17.1% denied
Home improvement 242 6% · 33.9% denied
Other / HELOC 368 9% · 33.7% denied

By loan type

Conventional 2,589 62% · 15.1% denied
FHA 648 16% · 11.3% denied
VA 845 20% · 9.5% denied
USDA / RHS 63 2% · 3.2% denied

Why applications were denied

Debt-to-income ratio 185 34%
Credit history 146 27%
Incomplete application 67 12%
Collateral 56 10%
Other 45 8%
Unverifiable information 21 4%
Insufficient cash 17 3%
Employment history 3 1%

Pennington County by year

YearApplicationsOriginatedDenial rateMedian rateMedian loan
20233,3132,26111.5%6.75%$225,000
20243,5292,31613.6%6.75%$235,000
20254,1452,66113.2%6.50%$265,000

Frequently asked questions

13.2% of applications in Pennington County were denied in 2025, against 12.8% statewide in South Dakota.

CMG Mortgage, with 573 applications in 2025 and a denial rate of 2.1%.

The median mortgage application in Pennington County in 2025 was for $265,000; the median property value on originated loans was $355,000.