Top Mortgage Lenders in Mitchell, SD

Which mortgage lender in the Mitchell, 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 Mitchell, 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 Mitchell, SD area is CorTrust Bank National Association, with a “Rate Rank” of 1 and an average “Rate Difference” of -0.07%. This means that CorTrust Bank National Association provided a -0.07% lower interest rate for its customers than other lenders in Mitchell, SD for a similar set of borrowers. CorTrust Bank National Association has a market share of 22.2%. It is the most popular lender in the area.

Our detailed rankings of the mortgage lenders for the Mitchell, 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 Mitchell, SD is CorTrust Bank National Association. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is Plains Commerce Bank. The cheapest VA mortgage provider is CorTrust Bank National Association. 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 Mitchell, SD

Mortgage Type:
Purchase/Refinance:
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
CorTrust Bank National Association 1, -0.07% 22.18%
BankWest Inc 2, -0.02% 17.82%
Plains Commerce Bank 3, 0.01% 21.45%
First Dakota National Bank 4, 0.02% 14.91%
Wells Fargo Bank 5, 0.04% 11.64%
Quicken Loans 6, 0.07% 12.00%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
BankWest Inc 1, -0.03% 24.03%
CorTrust Bank National Association 2, -0.02% 18.18%
Plains Commerce Bank 3, 0.00% 20.13%
First Dakota National Bank 4, 0.02% 16.88%
Wells Fargo Bank 5, 0.03% 12.99%
Quicken Loans 6, 0.05% 7.79%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
CorTrust Bank National Association 1, -0.12% 27.27%
BankWest Inc 2, 0.02% 9.92%
First Dakota National Bank 3, 0.02% 12.40%
Plains Commerce Bank 4, 0.03% 23.14%
Wells Fargo Bank 5, 0.06% 9.92%
Quicken Loans 6, 0.09% 17.36%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
CorTrust Bank National Association 1, -0.07% 27.31%
BankWest Inc 2, -0.02% 17.13%
First Dakota National Bank 3, 0.02% 14.81%
Plains Commerce Bank 4, 0.03% 18.52%
Wells Fargo Bank 5, 0.05% 13.89%
Quicken Loans 6, 0.10% 8.33%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
BankWest Inc 1, -0.05% 24.30%
CorTrust Bank National Association 2, -0.02% 24.30%
First Dakota National Bank 3, 0.02% 15.89%
Wells Fargo Bank 4, 0.03% 17.76%
Quicken Loans 5, 0.03% 1.87%
Plains Commerce Bank 6, 0.04% 15.89%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
CorTrust Bank National Association 1, -0.11% 30.28%
BankWest Inc 2, 0.02% 10.09%
First Dakota National Bank 3, 0.03% 13.76%
Plains Commerce Bank 4, 0.03% 21.10%
Wells Fargo Bank 5, 0.07% 10.09%
Quicken Loans 6, 0.11% 14.68%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Plains Commerce Bank 1, -0.04% 35.71%
First Dakota National Bank 2, 0.01% 19.05%
BankWest Inc 3, 0.01% 21.43%
Quicken Loans 4, 0.05% 23.81%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Plains Commerce Bank 1, -0.05% 34.21%
First Dakota National Bank 2, 0.01% 21.05%
BankWest Inc 3, 0.01% 23.68%
Quicken Loans 4, 0.06% 21.05%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Quicken Loans 1, -0.00% 50.00%
Plains Commerce Bank 2, 0.00% 50.00%
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Lender Name Rate Rank, Rate Difference Rate Rating Market Share
CorTrust Bank National Association 1, -0.01% 11.76%
First Dakota National Bank 2, -0.01% 5.88%
Wells Fargo Bank 3, -0.01% 11.76%
Plains Commerce Bank 4, -0.00% 23.53%
BankWest Inc 5, 0.00% 17.65%
Quicken Loans 6, 0.01% 29.41%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Wells Fargo Bank 1, -0.01% 11.11%
Quicken Loans 2, -0.00% 22.22%
CorTrust Bank National Association 3, -0.00% 22.22%
First Dakota National Bank 4, -0.00% 11.11%
BankWest Inc 5, 0.00% 22.22%
Plains Commerce Bank 6, 0.02% 11.11%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Plains Commerce Bank 1, -0.02% 37.50%
Wells Fargo Bank 2, -0.01% 12.50%
BankWest Inc 3, 0.01% 12.50%
Quicken Loans 4, 0.01% 37.50%

* Data is compiled for the Mitchell, SD commuting zone area, which comprises of counties of Aurora County, SD, Beadle County, SD, Davison County, SD, Hanson County, SD, Jerauld County, SD, and Sanborn County, SD. This includes cities/towns/communities of Mitchell, SD as well as Huron, SD, Alexandria, SD, Mount Vernon, SD, Plankinton, SD, Woonsocket, SD, Cavour, SD, Wolsey, SD, and Wessington Springs, SD. 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 Mitchell, SD area. For mortgage lender rankings of other cities, click here.