Which mortgage lender in the Sioux Falls, SD area typically has the best rates? To help you narrow down where to shop for a mortgage, MortgageWaldo.com provides an objective and data driven ranking of mortgage lenders operating in the Sioux Falls, SD area by interest rate and market share. We maintain our independence by not accepting any compensation from the mortgage lenders we rank, and use data on all fixed rate mortgages that were closed in the past year to generate our rankings.
Going by historical data, the best mortgage lender in the Sioux Falls, SD area in terms of interest rate is First Dakota National Bank, with an average “Rate Difference” of -0.16%. This means that, comparing similar borrowers, First Dakota National Bank provided a -0.16% lower interest rate for its customers than other lenders in the area. First Dakota National Bank has a market share of 5.6%. On the other hand, the most popular lender in the Sioux Falls, SD area is Plains Commerce Bank, with a larger market share of 23.2%. Plains Commerce Bank is an average lender in terms of the interest rate it offers, with a “Rate Difference” of +0.06% compared to those of other lenders in this area.
Our detailed ranking of mortgage lenders in the Sioux Falls, SD area is shown in the table below. In the table, we also give our assessment of whether they are, on average, a cheap/expensive lender through a star rating system. You can choose to tailor our ranking table to a specific mortgage type (Conventional/Jumbo/FHA/VA) and purpose (purchase/refinance) through the drop-down menu. For example, going by historical data, the cheapest lender for Conventional mortgages in Sioux Falls, SD is First Dakota National Bank. If you want to take out a loan that is above conforming limits (above $548,250 or $822,375 depending on the area in 2021), the cheapest Jumbo mortgage provider is US Bank. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is First PREMIER Bank. The cheapest VA mortgage provider is CU Mortgage Direct. Note that as a consumer advocate we always recommend shopping among several of our top ranked lenders in order to get the best rates and fees.
Ranking of Mortgage Lenders in Sioux Falls, SD
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| First Dakota National Bank | -0.16% | 5.55% | |
| Sioux Falls Federal Credit Union | -0.13% | 9.65% | |
| CorTrust Bank | -0.09% | 4.12% | |
| First PREMIER Bank | -0.07% | 10.67% | |
| First Bank & Trust | -0.04% | 7.11% | |
| Iowa Bankers Mortgage Corporation | -0.03% | 0.63% | |
| Cardinal Financial Company | -0.03% | 0.68% | |
| Keller Mortgage | -0.03% | 1.33% | |
| Black Hills Federal Credit Union | -0.03% | 0.60% | |
| Dacotah Bank | -0.03% | 0.50% | |
| CU Mortgage Direct | -0.02% | 3.23% | |
| Guaranteed Rate | 0.03% | 3.32% | |
| Great Western Bank | 0.03% | 3.88% | |
| US Bank | 0.03% | 3.29% | |
| Fairway Independent Mortgage Corporation | 0.03% | 4.75% | |
| USAA | 0.05% | 0.48% | |
| Flanagan State Bank | 0.05% | 0.88% | |
| Plains Commerce Bank | 0.06% | 23.22% | |
| Reliabank Dakota | 0.07% | 5.07% | |
| New American Funding | 0.08% | 2.61% | |
| Wells Fargo Bank | 0.11% | 4.80% | |
| Quicken Loans | 0.21% | 3.62% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Sioux Falls Federal Credit Union | -0.20% | 5.70% | |
| First Dakota National Bank | -0.15% | 4.64% | |
| First PREMIER Bank | -0.08% | 12.11% | |
| First Bank & Trust | -0.06% | 8.84% | |
| CU Mortgage Direct | -0.06% | 3.22% | |
| Dacotah Bank | -0.05% | 0.49% | |
| CorTrust Bank | -0.04% | 3.35% | |
| US Bank | -0.04% | 3.30% | |
| Black Hills Federal Credit Union | -0.04% | 0.41% | |
| Keller Mortgage | -0.04% | 2.13% | |
| Wells Fargo Bank | -0.02% | 4.99% | |
| Cardinal Financial Company | -0.01% | 0.41% | |
| Iowa Bankers Mortgage Corporation | -0.01% | 0.46% | |
| Guaranteed Rate | 0.02% | 3.87% | |
| Fairway Independent Mortgage Corporation | 0.04% | 6.11% | |
| Great Western Bank | 0.06% | 3.55% | |
| Flanagan State Bank | 0.06% | 1.06% | |
| Quicken Loans | 0.06% | 1.06% | |
| USAA | 0.06% | 0.57% | |
| Reliabank Dakota | 0.07% | 5.43% | |
| New American Funding | 0.08% | 3.14% | |
| Plains Commerce Bank | 0.10% | 25.17% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| First Dakota National Bank | -0.18% | 6.69% | |
| CorTrust Bank | -0.13% | 5.07% | |
| Sioux Falls Federal Credit Union | -0.10% | 14.54% | |
| First PREMIER Bank | -0.06% | 8.89% | |
| Iowa Bankers Mortgage Corporation | -0.04% | 0.85% | |
| Cardinal Financial Company | -0.04% | 1.01% | |
| First Bank & Trust | -0.02% | 4.97% | |
| Black Hills Federal Credit Union | -0.02% | 0.85% | |
| Keller Mortgage | -0.01% | 0.34% | |
| Plains Commerce Bank | 0.00% | 20.79% | |
| Dacotah Bank | 0.00% | 0.51% | |
| Great Western Bank | 0.01% | 4.29% | |
| Fairway Independent Mortgage Corporation | 0.01% | 3.08% | |
| CU Mortgage Direct | 0.01% | 3.25% | |
| USAA | 0.02% | 0.37% | |
| Flanagan State Bank | 0.03% | 0.64% | |
| Guaranteed Rate | 0.04% | 2.64% | |
| Reliabank Dakota | 0.06% | 4.63% | |
| New American Funding | 0.08% | 1.96% | |
| US Bank | 0.13% | 3.28% | |
| Quicken Loans | 0.24% | 6.80% | |
| Wells Fargo Bank | 0.28% | 4.56% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| First Dakota National Bank | -0.18% | 6.48% | |
| Sioux Falls Federal Credit Union | -0.14% | 11.95% | |
| CorTrust Bank | -0.10% | 4.87% | |
| First PREMIER Bank | -0.05% | 9.79% | |
| First Bank & Trust | -0.05% | 7.92% | |
| Cardinal Financial Company | -0.04% | 0.61% | |
| Keller Mortgage | -0.03% | 1.37% | |
| Iowa Bankers Mortgage Corporation | -0.03% | 0.83% | |
| Dacotah Bank | -0.03% | 0.63% | |
| Black Hills Federal Credit Union | -0.03% | 0.67% | |
| CU Mortgage Direct | 0.01% | 3.07% | |
| USAA | 0.02% | 0.18% | |
| Flanagan State Bank | 0.02% | 0.61% | |
| Great Western Bank | 0.04% | 4.52% | |
| US Bank | 0.04% | 3.57% | |
| Fairway Independent Mortgage Corporation | 0.05% | 3.86% | |
| Guaranteed Rate | 0.06% | 2.34% | |
| Plains Commerce Bank | 0.06% | 21.47% | |
| Reliabank Dakota | 0.07% | 4.62% | |
| New American Funding | 0.11% | 1.92% | |
| Wells Fargo Bank | 0.12% | 5.84% | |
| Quicken Loans | 0.31% | 2.87% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Sioux Falls Federal Credit Union | -0.22% | 7.08% | |
| First Dakota National Bank | -0.17% | 5.23% | |
| First PREMIER Bank | -0.06% | 11.29% | |
| First Bank & Trust | -0.06% | 10.47% | |
| Dacotah Bank | -0.05% | 0.67% | |
| CorTrust Bank | -0.04% | 3.97% | |
| US Bank | -0.04% | 3.74% | |
| Keller Mortgage | -0.04% | 2.40% | |
| Black Hills Federal Credit Union | -0.04% | 0.47% | |
| Cardinal Financial Company | -0.04% | 0.35% | |
| CU Mortgage Direct | -0.02% | 3.23% | |
| Wells Fargo Bank | -0.01% | 6.53% | |
| Iowa Bankers Mortgage Corporation | -0.01% | 0.67% | |
| USAA | 0.00% | 0.20% | |
| Flanagan State Bank | 0.01% | 0.71% | |
| Guaranteed Rate | 0.06% | 2.64% | |
| Reliabank Dakota | 0.07% | 5.27% | |
| Quicken Loans | 0.07% | 0.83% | |
| Fairway Independent Mortgage Corporation | 0.08% | 5.39% | |
| Great Western Bank | 0.08% | 4.13% | |
| Plains Commerce Bank | 0.12% | 22.43% | |
| New American Funding | 0.12% | 2.28% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| First Dakota National Bank | -0.18% | 7.74% | |
| CorTrust Bank | -0.13% | 5.78% | |
| Sioux Falls Federal Credit Union | -0.10% | 16.87% | |
| Iowa Bankers Mortgage Corporation | -0.05% | 1.00% | |
| First PREMIER Bank | -0.04% | 8.26% | |
| Cardinal Financial Company | -0.04% | 0.88% | |
| First Bank & Trust | -0.03% | 5.35% | |
| Black Hills Federal Credit Union | -0.02% | 0.88% | |
| Keller Mortgage | -0.01% | 0.32% | |
| Fairway Independent Mortgage Corporation | -0.00% | 2.31% | |
| Plains Commerce Bank | 0.00% | 20.50% | |
| Dacotah Bank | 0.00% | 0.60% | |
| Great Western Bank | 0.01% | 4.91% | |
| Flanagan State Bank | 0.03% | 0.52% | |
| USAA | 0.04% | 0.16% | |
| CU Mortgage Direct | 0.05% | 2.91% | |
| Guaranteed Rate | 0.06% | 2.03% | |
| Reliabank Dakota | 0.08% | 3.95% | |
| New American Funding | 0.10% | 1.56% | |
| US Bank | 0.14% | 3.39% | |
| Wells Fargo Bank | 0.29% | 5.15% | |
| Quicken Loans | 0.36% | 4.95% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| First PREMIER Bank | -0.12% | 15.04% | |
| First Dakota National Bank | -0.10% | 2.16% | |
| CU Mortgage Direct | -0.08% | 2.06% | |
| Great Western Bank | -0.07% | 1.57% | |
| Sioux Falls Federal Credit Union | -0.07% | 2.65% | |
| US Bank | -0.05% | 1.57% | |
| CorTrust Bank | -0.04% | 1.57% | |
| First Bank & Trust | -0.03% | 3.24% | |
| Cardinal Financial Company | -0.03% | 0.98% | |
| Keller Mortgage | -0.03% | 1.28% | |
| Fairway Independent Mortgage Corporation | -0.02% | 7.47% | |
| Wells Fargo Bank | -0.02% | 0.29% | |
| Guaranteed Rate | 0.00% | 5.60% | |
| Quicken Loans | 0.02% | 7.28% | |
| New American Funding | 0.02% | 5.90% | |
| Reliabank Dakota | 0.06% | 7.28% | |
| Plains Commerce Bank | 0.06% | 32.55% | |
| Flanagan State Bank | 0.10% | 1.47% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| First PREMIER Bank | -0.11% | 15.23% | |
| First Dakota National Bank | -0.10% | 2.66% | |
| CU Mortgage Direct | -0.09% | 1.90% | |
| Great Western Bank | -0.08% | 2.03% | |
| Sioux Falls Federal Credit Union | -0.07% | 3.43% | |
| US Bank | -0.06% | 1.65% | |
| CorTrust Bank | -0.04% | 1.90% | |
| First Bank & Trust | -0.04% | 3.68% | |
| Keller Mortgage | -0.04% | 1.40% | |
| Fairway Independent Mortgage Corporation | -0.03% | 8.12% | |
| Wells Fargo Bank | -0.02% | 0.38% | |
| Guaranteed Rate | -0.00% | 5.96% | |
| New American Funding | 0.02% | 6.09% | |
| Cardinal Financial Company | 0.02% | 0.38% | |
| Quicken Loans | 0.05% | 1.65% | |
| Plains Commerce Bank | 0.06% | 35.28% | |
| Reliabank Dakota | 0.08% | 6.47% | |
| Flanagan State Bank | 0.11% | 1.78% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| First PREMIER Bank | -0.14% | 14.41% | |
| CU Mortgage Direct | -0.05% | 2.62% | |
| Cardinal Financial Company | -0.05% | 3.06% | |
| First Bank & Trust | -0.03% | 1.75% | |
| CorTrust Bank | -0.02% | 0.44% | |
| First Dakota National Bank | -0.02% | 0.44% | |
| Keller Mortgage | -0.00% | 0.87% | |
| Guaranteed Rate | 0.01% | 4.37% | |
| Flanagan State Bank | 0.01% | 0.44% | |
| US Bank | 0.01% | 1.31% | |
| Reliabank Dakota | 0.01% | 10.04% | |
| Quicken Loans | 0.02% | 26.64% | |
| New American Funding | 0.04% | 5.24% | |
| Fairway Independent Mortgage Corporation | 0.04% | 5.24% | |
| Plains Commerce Bank | 0.05% | 23.14% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| US Bank | -0.02% | 17.74% | |
| Wells Fargo Bank | -0.01% | 17.74% | |
| First Bank & Trust | 0.00% | 14.52% | |
| First Dakota National Bank | 0.00% | 12.90% | |
| Plains Commerce Bank | 0.01% | 17.74% | |
| Quicken Loans | 0.01% | 3.23% | |
| Great Western Bank | 0.02% | 3.23% | |
| First PREMIER Bank | 0.02% | 11.29% | |
| CorTrust Bank | 0.02% | 1.61% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| US Bank | -0.02% | 11.11% | |
| First Bank & Trust | -0.01% | 13.89% | |
| Wells Fargo Bank | -0.01% | 16.67% | |
| First Dakota National Bank | 0.00% | 19.44% | |
| Plains Commerce Bank | 0.00% | 19.44% | |
| Quicken Loans | 0.01% | 2.78% | |
| Great Western Bank | 0.01% | 5.56% | |
| First PREMIER Bank | 0.02% | 11.11% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Wells Fargo Bank | -0.02% | 19.23% | |
| US Bank | -0.02% | 26.92% | |
| First Dakota National Bank | 0.00% | 3.85% | |
| First PREMIER Bank | 0.01% | 11.54% | |
| First Bank & Trust | 0.01% | 15.38% | |
| Quicken Loans | 0.02% | 3.85% | |
| CorTrust Bank | 0.02% | 3.85% | |
| Plains Commerce Bank | 0.03% | 15.38% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| CU Mortgage Direct | -0.12% | 7.63% | |
| First PREMIER Bank | -0.08% | 10.64% | |
| First Bank & Trust | -0.02% | 5.82% | |
| First Dakota National Bank | -0.02% | 2.21% | |
| Black Hills Federal Credit Union | -0.02% | 1.20% | |
| Sioux Falls Federal Credit Union | -0.02% | 1.81% | |
| Great Western Bank | -0.00% | 2.21% | |
| Guaranteed Rate | -0.00% | 9.04% | |
| CorTrust Bank | 0.00% | 2.01% | |
| Dacotah Bank | 0.01% | 0.20% | |
| Plains Commerce Bank | 0.01% | 22.49% | |
| Wells Fargo Bank | 0.01% | 1.81% | |
| Reliabank Dakota | 0.02% | 5.82% | |
| Keller Mortgage | 0.02% | 1.20% | |
| Cardinal Financial Company | 0.03% | 0.80% | |
| US Bank | 0.04% | 2.21% | |
| Fairway Independent Mortgage Corporation | 0.05% | 8.84% | |
| New American Funding | 0.06% | 3.21% | |
| Flanagan State Bank | 0.07% | 2.41% | |
| USAA | 0.07% | 4.62% | |
| Quicken Loans | 0.11% | 3.82% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| CU Mortgage Direct | -0.14% | 6.95% | |
| First PREMIER Bank | -0.08% | 10.93% | |
| First Bank & Trust | -0.05% | 7.95% | |
| First Dakota National Bank | -0.04% | 2.98% | |
| Black Hills Federal Credit Union | -0.03% | 0.99% | |
| Great Western Bank | -0.02% | 2.32% | |
| CorTrust Bank | -0.02% | 2.32% | |
| Guaranteed Rate | -0.02% | 9.27% | |
| Wells Fargo Bank | -0.01% | 2.65% | |
| Sioux Falls Federal Credit Union | -0.00% | 0.66% | |
| Dacotah Bank | -0.00% | 0.33% | |
| Keller Mortgage | 0.01% | 1.99% | |
| Cardinal Financial Company | 0.02% | 0.99% | |
| Quicken Loans | 0.02% | 1.32% | |
| US Bank | 0.03% | 2.98% | |
| Reliabank Dakota | 0.03% | 4.64% | |
| Plains Commerce Bank | 0.05% | 22.52% | |
| Fairway Independent Mortgage Corporation | 0.06% | 7.62% | |
| New American Funding | 0.06% | 2.98% | |
| Flanagan State Bank | 0.07% | 2.32% | |
| USAA | 0.08% | 5.30% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| CU Mortgage Direct | -0.09% | 8.67% | |
| First PREMIER Bank | -0.07% | 10.20% | |
| Plains Commerce Bank | -0.05% | 22.45% | |
| Sioux Falls Federal Credit Union | -0.01% | 3.57% | |
| Black Hills Federal Credit Union | -0.00% | 1.53% | |
| Reliabank Dakota | 0.02% | 7.65% | |
| Great Western Bank | 0.02% | 2.04% | |
| Guaranteed Rate | 0.02% | 8.67% | |
| Cardinal Financial Company | 0.02% | 0.51% | |
| First Dakota National Bank | 0.03% | 1.02% | |
| USAA | 0.03% | 3.57% | |
| CorTrust Bank | 0.04% | 1.53% | |
| Fairway Independent Mortgage Corporation | 0.04% | 10.71% | |
| First Bank & Trust | 0.05% | 2.55% | |
| Flanagan State Bank | 0.06% | 2.55% | |
| Wells Fargo Bank | 0.06% | 0.51% | |
| New American Funding | 0.07% | 3.57% | |
| US Bank | 0.07% | 1.02% | |
| Quicken Loans | 0.14% | 7.65% |
* Data is compiled for the Sioux Falls, SD commuting zone area, which comprises of counties of Rock County, MN, Lincoln County, SD, McCook County, SD, Minnehaha County, SD, and Turner County, SD. This includes cities/towns/communities of Sioux Falls, SD as well as Brandon, SD, Harrisburg, SD, Anderson, SD, Tea, SD, Hartford, SD, Garretson, SD, Dell Rapids, SD, Crooks, SD, Lennox, SD, Luverne, MN, Shindler, SD, Parker, SD, Canton, SD, Colton, SD, Valley Springs, SD, Centerville, SD, Salem, SD, Canistota, SD, Beresford, SD, and Kenneth, MN. Lenders must have made at least 30 loans in the area to be included. Source of the data is Federal Financial Institutions Examination Council (FFIEC). Rate Difference (the average difference of interest rates relative to those of other lenders) were computed by subtracting the rate at origination from the average predicted rate conditional on the commuting zone, borrower LTV, DTI, Loan Amount, Loan Type, and Loan Purpose, and then regularized based on a Bayesian approach to account for smaller sample sizes. Above-average mortgage closing costs were then added to the rate difference at a rate of +0.15/point. Star ratings were determined in intervals of 0.10% in rate difference per half star.
Mortgage Lender Rankings in Other Cities
This page contains information about the top mortgage lenders in the Sioux Falls, SD area. For mortgage lender rankings in other cities, click here.