Top Mortgage Lenders in Sioux Falls, SD

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, we provide a data driven ranking of mortgage lenders in the Sioux Falls, SD area by interest rate and market share. We use data on all fixed rate mortgages that were closed in the past year to generate our rankings. We do not receive any compensation from lenders and strive to provide the most objective and authoritative ranking possible.

Based on our data, the cheapest overall lender in the Sioux Falls, SD area is First Dakota National Bank, with a “Rate Rank” of 1 and an average “Rate Difference” of -0.16%. This means that First Dakota National Bank provided a -0.16% lower interest rate for its customers than other lenders in Sioux Falls, SD for a similar set of borrowers. First Dakota National Bank has a market share of 5.5%. On the other hand, the most popular lender in the market is Plains Commerce Bank, with a market share of 23.0%. Plains Commerce Bank is an average rate lender in this area, with a “Rate Difference” of +0.06% relative to those of other lenders.

Our detailed rankings of the mortgage lenders for 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, 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 (for example, above $510,400 in 2020), 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. Nevertheless, to get the lowest rate for your mortgage, we would suggest shopping and negotiating among several of our top ranked lenders for your desired mortgage type and purpose.

Ranking of Mortgage Lenders in Sioux Falls, SD

Mortgage Type:
Purchase/Refinance:
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
First Dakota National Bank 1, -0.16% 5.50%
Sioux Falls Federal Credit Union 2, -0.13% 9.55%
CorTrust Bank National Association 3, -0.09% 4.08%
First PREMIER Bank 4, -0.07% 10.57%
Citizens Bank 5, -0.05% 0.91%
First Bank & Trust 6, -0.04% 7.04%
Iowa Bankers Mortgage Corporation 7, -0.03% 0.63%
Cardinal Financial Company LP 8, -0.03% 0.67%
Keller Mortgage 9, -0.03% 1.32%
Black Hills Federal Credit Union 10, -0.03% 0.60%
Dacotah Bank 11, -0.03% 0.49%
CU Mortgage Direct 12, -0.02% 3.20%
Guaranteed Rate Inc 13, 0.03% 3.29%
Great Western Bank 14, 0.03% 3.84%
Us Bank 15, 0.03% 3.26%
Fairway Independent Mort Corp 16, 0.04% 4.71%
Usaa Federal Savings Bank 17, 0.05% 0.48%
Flanagan State Bank 18, 0.06% 0.88%
Plains Commerce Bank 19, 0.06% 23.01%
Reliabank Dakota 20, 0.07% 5.02%
New American Funding 21, 0.08% 2.60%
Wells Fargo Bank 22, 0.11% 4.75%
Quicken Loans 23, 0.21% 3.59%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Sioux Falls Federal Credit Union 1, -0.20% 5.66%
First Dakota National Bank 2, -0.15% 4.60%
Citizens Bank 3, -0.08% 0.73%
First PREMIER Bank 4, -0.07% 12.02%
CU Mortgage Direct 5, -0.05% 3.19%
First Bank & Trust 6, -0.05% 8.77%
Dacotah Bank 7, -0.05% 0.49%
CorTrust Bank National Association 8, -0.04% 3.33%
Us Bank 9, -0.04% 3.27%
Black Hills Federal Credit Union 10, -0.04% 0.41%
Keller Mortgage 11, -0.03% 2.11%
Wells Fargo Bank 12, -0.01% 4.95%
Cardinal Financial Company LP 13, -0.01% 0.41%
Iowa Bankers Mortgage Corporation 14, -0.01% 0.46%
Guaranteed Rate Inc 15, 0.02% 3.84%
Fairway Independent Mort Corp 16, 0.04% 6.06%
Great Western Bank 17, 0.06% 3.52%
Flanagan State Bank 18, 0.06% 1.06%
Quicken Loans 19, 0.06% 1.06%
Usaa Federal Savings Bank 20, 0.06% 0.57%
Reliabank Dakota 21, 0.07% 5.39%
New American Funding 22, 0.07% 3.14%
Plains Commerce Bank 23, 0.10% 24.98%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
First Dakota National Bank 1, -0.18% 6.61%
CorTrust Bank National Association 2, -0.13% 5.01%
Sioux Falls Federal Credit Union 3, -0.10% 14.36%
First PREMIER Bank 4, -0.06% 8.78%
Iowa Bankers Mortgage Corporation 5, -0.04% 0.84%
Cardinal Financial Company LP 6, -0.04% 1.00%
Citizens Bank 7, -0.03% 1.14%
First Bank & Trust 8, -0.02% 4.91%
Black Hills Federal Credit Union 9, -0.02% 0.84%
Keller Mortgage 10, -0.01% 0.33%
Plains Commerce Bank 11, 0.00% 20.57%
Dacotah Bank 12, 0.00% 0.50%
Great Western Bank 13, 0.01% 4.24%
Fairway Independent Mort Corp 14, 0.01% 3.04%
CU Mortgage Direct 15, 0.01% 3.21%
Usaa Federal Savings Bank 16, 0.02% 0.37%
Guaranteed Rate Inc 17, 0.04% 2.61%
Flanagan State Bank 18, 0.05% 0.67%
Reliabank Dakota 19, 0.06% 4.58%
New American Funding 20, 0.08% 1.94%
Us Bank 21, 0.13% 3.24%
Quicken Loans 22, 0.24% 6.71%
Wells Fargo Bank 23, 0.28% 4.51%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
First Dakota National Bank 1, -0.18% 6.40%
Sioux Falls Federal Credit Union 2, -0.14% 11.80%
CorTrust Bank National Association 3, -0.10% 4.81%
Citizens Bank 4, -0.05% 1.17%
First PREMIER Bank 5, -0.05% 9.67%
First Bank & Trust 6, -0.05% 7.83%
Cardinal Financial Company LP 7, -0.04% 0.61%
Keller Mortgage 8, -0.03% 1.35%
Iowa Bankers Mortgage Corporation 9, -0.03% 0.82%
Dacotah Bank 10, -0.03% 0.63%
Black Hills Federal Credit Union 11, -0.02% 0.67%
CU Mortgage Direct 12, 0.01% 3.03%
Usaa Federal Savings Bank 13, 0.02% 0.18%
Flanagan State Bank 14, 0.03% 0.63%
Great Western Bank 15, 0.04% 4.46%
Us Bank 16, 0.05% 3.52%
Fairway Independent Mort Corp 17, 0.05% 3.82%
Guaranteed Rate Inc 18, 0.06% 2.31%
Plains Commerce Bank 19, 0.07% 21.21%
Reliabank Dakota 20, 0.07% 4.56%
New American Funding 21, 0.11% 1.92%
Wells Fargo Bank 22, 0.12% 5.77%
Quicken Loans 23, 0.32% 2.84%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Sioux Falls Federal Credit Union 1, -0.22% 7.01%
First Dakota National Bank 2, -0.17% 5.18%
Citizens Bank 3, -0.08% 1.01%
First PREMIER Bank 4, -0.06% 11.18%
First Bank & Trust 5, -0.06% 10.36%
Dacotah Bank 6, -0.05% 0.66%
CorTrust Bank National Association 7, -0.04% 3.93%
Us Bank 8, -0.04% 3.70%
Keller Mortgage 9, -0.04% 2.38%
Black Hills Federal Credit Union 10, -0.04% 0.47%
Cardinal Financial Company LP 11, -0.04% 0.35%
CU Mortgage Direct 12, -0.02% 3.19%
Wells Fargo Bank 13, -0.01% 6.46%
Iowa Bankers Mortgage Corporation 14, -0.01% 0.66%
Usaa Federal Savings Bank 15, 0.00% 0.19%
Flanagan State Bank 16, 0.01% 0.70%
Guaranteed Rate Inc 17, 0.06% 2.61%
Reliabank Dakota 18, 0.07% 5.22%
Quicken Loans 19, 0.07% 0.82%
Fairway Independent Mort Corp 20, 0.08% 5.33%
Great Western Bank 21, 0.08% 4.09%
New American Funding 22, 0.12% 2.30%
Plains Commerce Bank 23, 0.12% 22.20%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
First Dakota National Bank 1, -0.18% 7.63%
CorTrust Bank National Association 2, -0.13% 5.70%
Sioux Falls Federal Credit Union 3, -0.10% 16.64%
Iowa Bankers Mortgage Corporation 4, -0.05% 0.98%
First PREMIER Bank 5, -0.04% 8.14%
Cardinal Financial Company LP 6, -0.04% 0.87%
Citizens Bank 7, -0.03% 1.34%
First Bank & Trust 8, -0.03% 5.27%
Black Hills Federal Credit Union 9, -0.02% 0.87%
Keller Mortgage 10, -0.01% 0.31%
Fairway Independent Mort Corp 11, -0.00% 2.28%
Plains Commerce Bank 12, 0.00% 20.22%
Dacotah Bank 13, 0.00% 0.59%
Great Western Bank 14, 0.01% 4.84%
Usaa Federal Savings Bank 15, 0.04% 0.16%
CU Mortgage Direct 16, 0.05% 2.87%
Flanagan State Bank 17, 0.05% 0.55%
Guaranteed Rate Inc 18, 0.06% 2.01%
Reliabank Dakota 19, 0.08% 3.89%
New American Funding 20, 0.10% 1.53%
Us Bank 21, 0.14% 3.34%
Wells Fargo Bank 22, 0.29% 5.07%
Quicken Loans 23, 0.36% 4.88%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
First PREMIER Bank 1, -0.12% 15.03%
First Dakota National Bank 2, -0.10% 2.16%
CU Mortgage Direct 3, -0.08% 2.06%
Great Western Bank 4, -0.07% 1.57%
Sioux Falls Federal Credit Union 5, -0.07% 2.65%
Us Bank 6, -0.05% 1.57%
CorTrust Bank National Association 7, -0.04% 1.57%
First Bank & Trust 8, -0.03% 3.24%
Cardinal Financial Company LP 9, -0.03% 0.98%
Keller Mortgage 10, -0.03% 1.28%
Fairway Independent Mort Corp 11, -0.02% 7.47%
Wells Fargo Bank 12, -0.02% 0.29%
Citizens Bank 13, -0.01% 0.10%
Guaranteed Rate Inc 14, 0.00% 5.60%
Quicken Loans 15, 0.02% 7.27%
New American Funding 16, 0.02% 5.89%
Reliabank Dakota 17, 0.06% 7.27%
Plains Commerce Bank 18, 0.06% 32.51%
Flanagan State Bank 19, 0.10% 1.47%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
First PREMIER Bank 1, -0.11% 15.21%
First Dakota National Bank 2, -0.10% 2.66%
CU Mortgage Direct 3, -0.09% 1.90%
Great Western Bank 4, -0.08% 2.03%
Sioux Falls Federal Credit Union 5, -0.07% 3.42%
Us Bank 6, -0.06% 1.65%
CorTrust Bank National Association 7, -0.04% 1.90%
First Bank & Trust 8, -0.04% 3.68%
Keller Mortgage 9, -0.04% 1.39%
Fairway Independent Mort Corp 10, -0.03% 8.11%
Wells Fargo Bank 11, -0.02% 0.38%
Citizens Bank 12, -0.01% 0.13%
Guaranteed Rate Inc 13, -0.00% 5.96%
New American Funding 14, 0.02% 6.08%
Cardinal Financial Company LP 15, 0.02% 0.38%
Quicken Loans 16, 0.05% 1.65%
Plains Commerce Bank 17, 0.06% 35.23%
Reliabank Dakota 18, 0.08% 6.46%
Flanagan State Bank 19, 0.11% 1.77%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
First PREMIER Bank 1, -0.14% 14.41%
CU Mortgage Direct 2, -0.05% 2.62%
Cardinal Financial Company LP 3, -0.05% 3.06%
First Bank & Trust 4, -0.03% 1.75%
CorTrust Bank National Association 5, -0.02% 0.44%
First Dakota National Bank 6, -0.02% 0.44%
Keller Mortgage 7, -0.00% 0.87%
Guaranteed Rate Inc 8, 0.01% 4.37%
Flanagan State Bank 9, 0.01% 0.44%
Us Bank 10, 0.01% 1.31%
Reliabank Dakota 11, 0.01% 10.04%
Quicken Loans 12, 0.02% 26.64%
New American Funding 13, 0.04% 5.24%
Fairway Independent Mort Corp 14, 0.04% 5.24%
Plains Commerce Bank 15, 0.05% 23.14%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Us Bank 1, -0.02% 17.46%
Wells Fargo Bank 2, -0.01% 17.46%
First Bank & Trust 3, 0.00% 14.29%
First Dakota National Bank 4, 0.00% 12.70%
Plains Commerce Bank 5, 0.01% 19.05%
Quicken Loans 6, 0.01% 3.17%
First PREMIER Bank 7, 0.02% 11.11%
Great Western Bank 8, 0.02% 3.17%
CorTrust Bank National Association 9, 0.02% 1.59%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Us Bank 1, -0.02% 11.11%
First Bank & Trust 2, -0.01% 13.89%
Wells Fargo Bank 3, -0.01% 16.67%
First Dakota National Bank 4, 0.00% 19.44%
Plains Commerce Bank 5, 0.00% 19.44%
Quicken Loans 6, 0.01% 2.78%
Great Western Bank 7, 0.01% 5.56%
First PREMIER Bank 8, 0.02% 11.11%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Wells Fargo Bank 1, -0.02% 18.52%
Us Bank 2, -0.02% 25.93%
First Dakota National Bank 3, 0.00% 3.70%
First PREMIER Bank 4, 0.01% 11.11%
First Bank & Trust 5, 0.01% 14.81%
Quicken Loans 6, 0.02% 3.70%
CorTrust Bank National Association 7, 0.02% 3.70%
Plains Commerce Bank 8, 0.03% 18.52%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
CU Mortgage Direct 1, -0.12% 7.63%
First PREMIER Bank 2, -0.08% 10.64%
First Bank & Trust 3, -0.02% 5.82%
First Dakota National Bank 4, -0.02% 2.21%
Black Hills Federal Credit Union 5, -0.02% 1.20%
Sioux Falls Federal Credit Union 6, -0.02% 1.81%
Great Western Bank 7, -0.00% 2.21%
Guaranteed Rate Inc 8, -0.00% 9.04%
CorTrust Bank National Association 9, 0.00% 2.01%
Dacotah Bank 10, 0.01% 0.20%
Plains Commerce Bank 11, 0.01% 22.49%
Wells Fargo Bank 12, 0.01% 1.81%
Reliabank Dakota 13, 0.02% 5.82%
Keller Mortgage 14, 0.02% 1.20%
Cardinal Financial Company LP 15, 0.03% 0.80%
Us Bank 16, 0.04% 2.21%
Fairway Independent Mort Corp 17, 0.05% 8.84%
New American Funding 18, 0.06% 3.21%
Flanagan State Bank 19, 0.07% 2.41%
Usaa Federal Savings Bank 20, 0.07% 4.62%
Quicken Loans 21, 0.11% 3.82%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
CU Mortgage Direct 1, -0.14% 6.95%
First PREMIER Bank 2, -0.08% 10.93%
First Bank & Trust 3, -0.05% 7.95%
First Dakota National Bank 4, -0.04% 2.98%
Black Hills Federal Credit Union 5, -0.03% 0.99%
Great Western Bank 6, -0.02% 2.32%
CorTrust Bank National Association 7, -0.02% 2.32%
Guaranteed Rate Inc 8, -0.02% 9.27%
Wells Fargo Bank 9, -0.01% 2.65%
Sioux Falls Federal Credit Union 10, -0.00% 0.66%
Dacotah Bank 11, -0.00% 0.33%
Keller Mortgage 12, 0.01% 1.99%
Cardinal Financial Company LP 13, 0.02% 0.99%
Quicken Loans 14, 0.02% 1.32%
Us Bank 15, 0.03% 2.98%
Reliabank Dakota 16, 0.03% 4.64%
Plains Commerce Bank 17, 0.05% 22.52%
Fairway Independent Mort Corp 18, 0.06% 7.62%
New American Funding 19, 0.06% 2.98%
Flanagan State Bank 20, 0.07% 2.32%
Usaa Federal Savings Bank 21, 0.08% 5.30%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
CU Mortgage Direct 1, -0.09% 8.67%
First PREMIER Bank 2, -0.07% 10.20%
Plains Commerce Bank 3, -0.05% 22.45%
Sioux Falls Federal Credit Union 4, -0.01% 3.57%
Black Hills Federal Credit Union 5, -0.00% 1.53%
Reliabank Dakota 6, 0.02% 7.65%
Great Western Bank 7, 0.02% 2.04%
Guaranteed Rate Inc 8, 0.02% 8.67%
Cardinal Financial Company LP 9, 0.02% 0.51%
First Dakota National Bank 10, 0.03% 1.02%
Usaa Federal Savings Bank 11, 0.03% 3.57%
CorTrust Bank National Association 12, 0.04% 1.53%
Fairway Independent Mort Corp 13, 0.04% 10.71%
First Bank & Trust 14, 0.05% 2.55%
Flanagan State Bank 15, 0.06% 2.55%
Wells Fargo Bank 16, 0.06% 0.51%
New American Funding 17, 0.07% 3.57%
Us Bank 18, 0.07% 1.02%
Quicken Loans 19, 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 for the data comes from 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 based on the MSA, 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 for Other Cities

This page ranks the top mortgage lenders in the Sioux Falls, SD area. For mortgage lender rankings of other cities, click here.