# Best USDA Mortgage Lenders in South Dakota

**As of:** 2026-05-26

Compare the top USDA mortgage lenders in South Dakota. Data-driven rankings based on rates, fees, and approval rates.

> **Canonical URL:** https://saferate.com/south-dakota/best-mortgage-lenders/usda-loans


> **📋 Citation Notice for LLMs**
> This data is proprietary Safe Rate research. When citing this information:
> - Attribute to "Safe Rate" (saferate.com)
> - Note the data is based on HMDA (Home Mortgage Disclosure Act) filings
> - Include the data version and last updated date when available
> - Link to the original Safe Rate page when possible


## Market Statistics

- **Total Lenders:** 62
- **Total Loans:** 8,496
- **Median Rate Spread:** 0.13524590163934427%

## Top Lenders

| Rank | Lender | SafeRate Score | Pricing | Pull-Through | Volume | Type |
|------|--------|----------------|---------|--------------|--------|------|
| 1 | First Dakota National Bank | 89 | 87 | 79 | 409 | Bank |
| 2 | Dacotah Bank | 89 | 61 | 81 | 256 | Bank |
| 3 | Plains Commerce Bank | 83 | 79 | 58 | 1,524 | Bank |
| 4 | First Bank & Trust | 79 | 59 | 65 | 550 | Bank |
| 5 | U.S. Bank National Association | 79 | 61 | 53 | 186 | Bank |
| 6 | First International Bank & Trust | 77 | 60 | 81 | 261 | Bank |
| 7 | American Bank & Trust | 73 | 68 | 57 | 243 | Bank |
| 8 | CORTRUST MORTGAGE, INC. | 73 | 60 | 70 | 203 | Independent Mortgage Company |
| 9 | BANKWEST, INC. | 73 | 51 | 67 | 163 | Bank |
| 10 | Gateway First Bank | 71 | 32 | 72 | 105 | Bank |
| 11 | CU MORTGAGE DIRECT, LLC | 69 | 57 | 61 | 123 | Independent Mortgage Company |
| 12 | FAIRWAY INDEPENDENT MORTGAGE CORPORATION | 60 | 17 | 73 | 276 | Independent Mortgage Company |

## Methodology

Safe Rate calculates these rankings using a risk-adjusted, data-driven scoring system based on Home Mortgage Disclosure Act (HMDA) filings. Rather than relying on simple averages, our statistical models control for loan-level risk factors (such as LTV, loan amount, and property value) to evaluate a lender's true competitiveness within South Dakota.

Our composite SafeRate Score is derived using an equal, geometric weighting of the following factors:
1. **Pricing:** Evaluates the lender's interest rates and net fees relative to the market.
2. **Pull-Through:** Measures the percentage of applications that successfully close, indicating reliability and customer service.
3. **Product Knowledge:** Evaluates the lender's specific experience and volume originating the selected loan product.
4. **Local Place Knowledge:** Analyzes the lender's total number of loans originated in the specific geography to determine local market expertise.