Safe Rate Rankings

Best Mortgage Lenders in South Dakota

Updated June 4, 2026

Rankings are a starting point, not a verdict. Safe Rate recommends speaking with 2-3 lenders to find the right fit for your home loan!

⚖️ The 4 PsRankings are calculated based on observed lender differences on closed loans across Pricing, Pull-through, Product, and Place.

🛡️ No Pay to PlayLenders cannot buy their way to the top. Rankings are 100% earned.

📊 HMDA 2024Built using publicly available originated loan data from the federal government.

🎯 Peer BenchmarkedPerformance is normalized and benchmarked against peer institutions.

Market

Total Lenders62

Total Loans8,496

Median Rate Spread0.14%

South Dakota Market Insights

First Dakota National Bank is Safe Rate's top-ranked lender in South Dakota, leading the composite scorecard across pricing, pullthrough, products, and local expertise.
Top-ranked by institution type in South Dakota: Bank: First Dakota National Bank (#1). Credit union: Levo Federal Credit Union (#2). Mortgage company: Iowa Bankers Mortgage (#3).
There is often a pricing vs. pullthrough tradeoff in mortgage lending. In South Dakota, First Dakota National Bank and Iowa Bankers Mortgage scores highest on pricing while Central Bank Ia and Iowa Bankers Mortgage leads on likelihood to close. That is why we encourage speaking with multiple lenders.
United Wholesale Mortgage (UWM) ranks #13 in South Dakota, serving as the platform behind many independent local brokers who live and work in the community. A local broker knows the neighborhoods, the local market, and is personally invested in your outcome. Real estate agents often prefer referring local brokers for their accessibility and responsiveness, qualities that matter when a deal is moving fast. Pricing and experience can vary by broker.
Popular names in South Dakota: Rocket Mortgage (#15) and Plains Commerce Bank (#14), both outside Safe Rate's top 10. Independent lenders and specialists tend to score higher on our composite scorecard.

Explore Rankings by Type

By Loan Product

Lenders often score differently for different loan products. Get tailored rankings by selecting your product type.

FHA Loans Conventional Loans VA Loans Jumbo Loans USDA Loans

By Institution Type

Some consumers only want to work with a credit union, bank, or focused mortgage company. See our rankings here!

Banks Credit Unions Mortgage Companies

Shopping for a mortgage? Click the heart icon to save lenders to My Home and make comparison painless.

Rank	Lender	Overall	Pricing	Pull Through	Place	Avg Fees	Rate Spread	# of Loans
1	First Dakota National Bank BankDirect	Exceptional	Exceptional	Strong	Exceptional	$1,000Fees	0.112%Below	409
2	Levo Federal Credit Union Credit UnionDirect	Exceptional	Exceptional	Exceptional	Exceptional	$1,876Fees	0.110%Below	200
3	IOWA BANKERS MORTGAGE CORPORATION Independent Mortgage CompanyWholesale	Strong	Exceptional*	Exceptional	Sound	$2,905Fees	0.053%Below	50
4	First PREMIER Bank BankDirect	Strong	Strong	Sound	Exceptional	$1,978Fees	0.094%Below	406
5	First International Bank & Trust BankDirect	Strong	Sound	Exceptional	Exceptional	$1,402Fees	0.166%Below	261
6	Dacotah Bank BankDirect	Strong	Strong	Strong	Exceptional	$1,902Fees	0.022%Below	256
7	Central Bank BankDirect	Strong	Strong	Exceptional	Strong	$3,095Fees	0.197%Below	125
8	First Bank & Trust BankDirect	Strong	Sound	Strong	Exceptional	$2,808Fees	0.156%Below	550
9	U.S. Bank National Association BankDirect	Strong	Strong	Strong	Strong	$1,035Fees	0.050%Above	186
10	CORTRUST MORTGAGE, INC. Independent Mortgage CompanyDirect	Strong	Sound	Strong	Exceptional	$2,385Fees	0.063%Below	203
11	WEST GATE BANK BankDirect & Wholesale	Strong	Exceptional*	Exceptional	Sound	$2,643Fees	0.018%Above	24
12	American Bank & Trust BankDirect	Strong	Strong	Sound	Exceptional	$2,147Fees	0.126%Below	243
13	UNITED WHOLESALE MORTGAGE, LLC Independent Mortgage CompanyWholesale	Strong	Sound*	Exceptional	Strong	$3,283Fees	0.118%Above	273
14	Plains Commerce Bank BankWholesale	Strong	Acceptable*	Strong	Exceptional	$2,993Fees	0.057%Below	1,524
15	ROCKET MORTGAGE, LLC Independent Mortgage CompanyDirect & Wholesale	Strong	Acceptable*	Exceptional	Strong	$4,351Fees	0.367%Above	430
16	BLACK HILLS FEDERAL CREDIT UNION Credit UnionDirect	Strong	Sound	Strong	Exceptional	$3,279Fees	0.112%Below	305
17	First National Bank of Omaha BankDirect	Strong	Strong	Strong	Strong	$2,348Fees	0.099%Below	143
18	Reliabank Dakota BankDirect	Strong	Strong	Strong	Strong	$2,442Fees	0.085%Below	114
19	NAVY FEDERAL CREDIT UNION Credit UnionDirect	Strong	Exceptional	Sound	Sound	$442Fees	0.545%Below	28
20	BANKWEST, INC. BankDirect	Strong	Sound	Strong	Exceptional	$3,213Fees	0.049%Below	163
21	CMG MORTGAGE, INC. Independent Mortgage CompanyDirect	Strong	Acceptable	Exceptional	Strong	$3,165Fees	0.200%Above	395
22	CU MORTGAGE DIRECT, LLC Independent Mortgage CompanyDirect	Strong	Sound	Strong	Strong	$2,486Fees	0.050%Above	123
23	GRANITE BANK BankDirect	Strong	Acceptable	Strong	Strong	$2,215Fees	0.129%Below	137
24	Wells Fargo Bank, National Association BankDirect	Strong	Strong	Sound	Strong	$1,814Fees	0.101%Above	123
25	FAIRWAY INDEPENDENT MORTGAGE CORPORATION Independent Mortgage CompanyDirect	Strong	Acceptable	Exceptional	Strong	$2,181Fees	0.166%Above	276
26	FREEDOM MORTGAGE CORPORATION Independent Mortgage CompanyDirect & Wholesale	Strong	Sound*	Strong	Sound	$2,766Fees	0.406%Above	68
27	GUARANTEED RATE, INC. Independent Mortgage CompanyDirect	Strong	Sound	Strong	Strong	$2,595Fees	0.308%Above	166
28	LOANDEPOT.COM, LLC Independent Mortgage CompanyDirect & Wholesale	Strong	Sound*	Strong	Sound	$3,353Fees	0.257%Above	52
29	Citizens Bank, National Association BankDirect	Strong	Strong	Strong	Sound	$2,648Fees	0.028%Above	25
30	PENNYMAC LOAN SERVICES, LLC Independent Mortgage CompanyDirect & Wholesale	Sound	Sound*	Strong	Sound	$2,633Fees	0.268%Below	67
31	Servion, Inc. Independent Mortgage CompanyDirect & Wholesale	Sound	Sound*	Strong	Sound	$3,124Fees	0.280%Above	33
32	Mortgage Research Center, LLC Independent Mortgage CompanyDirect	Sound	Acceptable	Strong	Strong	$1,213Fees	0.559%Above	177
33	Gateway First Bank BankDirect	Sound	Acceptable	Strong	Strong	$2,269Fees	0.021%Above	105
34	KIND LENDING, LLC Independent Mortgage CompanyWholesale	Sound	Acceptable*	Strong	Sound	$3,831Fees	0.176%Above	57
35	Flagstar Bank, N.A. BankDirect & Wholesale	Sound	Acceptable*	Strong	Sound	$1,860Fees	0.221%Above	42
36	JPMorgan Chase Bank, National Association BankDirect & Wholesale	Sound	Sound*	Strong	Sound	$2,458Fees	0.039%Above	28
37	TOWNE MORTGAGE COMPANY Independent Mortgage CompanyWholesale	Sound	Acceptable*	Strong	Sound	$2,574Fees	0.295%Below	27
38	MUTUAL OF OMAHA MORTGAGE, INC. Independent Mortgage CompanyDirect	Sound	Sound	Sound	Sound	$2,412Fees	0.033%Below	33
39	CROSSCOUNTRY MORTGAGE, LLC Independent Mortgage CompanyDirect	Sound	Acceptable	Strong	Strong	$4,319Fees	0.433%Above	126
40	CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP Independent Mortgage CompanyDirect & Wholesale	Sound	Acceptable*	Exceptional	Sound	$4,312Fees	0.965%Above	24
41	AMERICAN PACIFIC MORTGAGE CORPORATION Independent Mortgage CompanyDirect	Sound	Mediocre	Exceptional	Sound	$5,967Fees	0.490%Above	52
42	USAA Federal Savings Bank BankDirect	Sound	Sound	Sound	Sound	$1,946Fees	0.308%Below	38
43	NEWREZ LLC Independent Mortgage CompanyDirect & Wholesale	Sound	Acceptable*	Sound	Sound	$2,886Fees	0.311%Above	39
44	NATIONSTAR MORTGAGE LLC Independent Mortgage CompanyDirect	Sound	Acceptable	Strong	Sound	$3,672Fees	0.332%Above	30
45	First Interstate Bank BankDirect	Sound	Sound	Mediocre	Strong	$1,462Fees	0.316%Above	53
46	NEW AMERICAN FUNDING, LLC Independent Mortgage CompanyDirect	Sound	Acceptable	Sound	Sound	$3,699Fees	0.656%Above	28
47	Farm Credit Mid-America, ACA Independent Mortgage CompanyDirect & Wholesale	Acceptable	Mediocre*	Sound	Strong	$5,728Fees	0.577%Above	66
48	NEW DAY FINANCIAL, LLC Independent Mortgage CompanyDirect	Acceptable	Mediocre	Acceptable	Sound	$6,089Fees	1.147%Above	22

❓ Frequently Asked Questions

How are mortgage lenders ranked in South Dakota?+

Safe Rate ranks lenders using the 4 Ps framework, derived entirely from HMDA (Home Mortgage Disclosure Act) data: Pricing (how competitively a lender prices loans vs. the market benchmark), Pullthrough (how effectively a lender closes applications), Place (the lender's depth of expertise in South Dakota), and Product (performance on specific loan types). Each lender receives a composite Safe Rate Score from 0–100. No lender pays to appear in the rankings.

What is the Safe Rate Score?+

The Safe Rate Score is a 0–100 composite index measuring a lender's performance across Pricing, Pullthrough, Place, and Product. Scores of 80 or above earn Champion status; scores of 60–79 earn Superstar status. All scores are calculated from verified HMDA data — no lender can pay to improve their position.

How many mortgage lenders are active in South Dakota?+

Based on 2024 HMDA data, 62 lenders originated a combined 8,496 loans in South Dakota. Safe Rate's rankings evaluate all of them — not just a curated shortlist.

What does the rate spread tell me about a lender in South Dakota?+

Rate spread measures how much above the Average Prime Offer Rate (APOR) a lender charges. The median rate spread in South Dakota is 0.14%. Lenders in Safe Rate's top rankings consistently price below this median, meaning borrowers typically pay less interest over the life of their loan.

What is HMDA data and why does Safe Rate use it?+

HMDA (Home Mortgage Disclosure Act) is a federal law requiring every mortgage lender to disclose every loan application annually — including rates, amounts, approvals, and denials. Safe Rate uses HMDA because it is government-verified, covers all lenders equally, and cannot be gamed. It is the most objective foundation available for lender rankings.

Does Safe Rate accept payment from lenders to appear in rankings?+

No. Safe Rate rankings are strictly data-driven. No lender can pay to appear in or improve their position in Safe Rate's rankings. The only factor that determines a lender's rank is their verified HMDA performance data.

What is the difference between a bank, credit union, and independent mortgage company?+

Banks and credit unions offer mortgages alongside checking, savings, and other products. Independent Mortgage Companies (IMCs) focus exclusively on originating loans and often offer more product variety and speed. In South Dakota's rankings, all three institution types are evaluated on the same HMDA performance metrics.

How We Rank Lenders

Our rankings use a weighted average of scores across equally-weighted categories to evaluate lenders on a linear, raw performance scale.

Our Point System (Max 30 Points)

Pricing

Rate and fee competitiveness (33%)

Pull Through

Reliability in closing loans (33%)

Place

Local market expertise (33%)

Data Integrity & Updates

Data is updated quarterly based on the latest HMDA filings and proprietary SafeRate analysis. All metrics are calculated using standardized methodologies to ensure fair comparison across lenders.

⚖️ Licensing & Disclosures

Lender rankings and market statistics are created by Dylan Hall, licensed mortgage loan officer (NMLS #1658740). Safe Rate is a mortgage technology platform; mortgage lending services are provided by PartnerOwn LLC dba Safe Rate Mortgage, a licensed mortgage broker and lender (NMLS #1590949). Safe Rate Mortgage is a lending partner of some of the lenders ranked on this page, and Safe Rate Inc. has software or service customers on this list; however, all rankings are calculated using objective, public Home Mortgage Disclosure Act (HMDA) datasets, completely independent of any corporate partnerships, client relationships, or compensation.