Top Mortgage Lenders in the Aberdeen, SD area

Which mortgage lender in the Aberdeen, 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 Aberdeen, 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 Aberdeen, 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 Aberdeen, SD for a similar set of borrowers. CorTrust Bank National Association has a market share of 15.4%. On the other hand, the most popular lender in the market is Dacotah Bank, with a market share of 21.2%. Dacotah Bank is also a relatively cheap lender, with a “Rate Difference” of -0.05% relative to those of other lenders.

Our detailed rankings of the mortgage lenders for the Aberdeen, 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. CorTrust Bank National Association is the cheapest mortgage provider for Conventional, Jumbo, FHA, and VA mortgages in Aberdeen, SD.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.

Mortgage Type:
Purchase/Refinance:
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
CorTrust Bank National Association 1, -0.07% 15.43%
Dacotah Bank 2, -0.05% 21.19%
Great Western Bank 3, 0.01% 11.11%
Us Bank 4, 0.01% 7.41%
Wells Fargo Bank 5, 0.03% 13.79%
Plains Commerce Bank 6, 0.03% 16.05%
Quicken Loans 7, 0.07% 6.79%
American Mortgage & Equity Consultants Inc 8, 0.07% 8.23%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
CorTrust Bank National Association 1, -0.07% 15.69%
Great Western Bank 2, -0.04% 10.58%
Dacotah Bank 3, -0.02% 20.07%
Us Bank 4, -0.02% 6.57%
Quicken Loans 5, 0.03% 4.01%
Wells Fargo Bank 6, 0.03% 13.50%
Plains Commerce Bank 7, 0.04% 17.52%
American Mortgage & Equity Consultants Inc 8, 0.07% 12.04%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Dacotah Bank 1, -0.08% 22.64%
CorTrust Bank National Association 2, -0.08% 15.09%
Plains Commerce Bank 3, 0.02% 14.15%
Wells Fargo Bank 4, 0.04% 14.15%
American Mortgage & Equity Consultants Inc 5, 0.04% 3.30%
Us Bank 6, 0.05% 8.49%
Great Western Bank 7, 0.06% 11.79%
Quicken Loans 8, 0.10% 10.38%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
CorTrust Bank National Association 1, -0.08% 15.36%
Dacotah Bank 2, -0.05% 25.78%
Great Western Bank 3, 0.02% 11.72%
Us Bank 4, 0.02% 7.55%
Wells Fargo Bank 5, 0.04% 16.15%
Plains Commerce Bank 6, 0.05% 13.54%
American Mortgage & Equity Consultants Inc 7, 0.07% 4.43%
Quicken Loans 8, 0.10% 5.47%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
CorTrust Bank National Association 1, -0.07% 15.20%
Great Western Bank 2, -0.04% 11.27%
Dacotah Bank 3, -0.02% 25.00%
Us Bank 4, -0.02% 6.86%
Wells Fargo Bank 5, 0.04% 15.69%
Quicken Loans 6, 0.04% 2.94%
Plains Commerce Bank 7, 0.07% 15.69%
American Mortgage & Equity Consultants Inc 8, 0.07% 7.35%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
CorTrust Bank National Association 1, -0.09% 15.56%
Dacotah Bank 2, -0.08% 26.67%
Plains Commerce Bank 3, 0.03% 11.11%
Wells Fargo Bank 4, 0.04% 16.67%
American Mortgage & Equity Consultants Inc 5, 0.04% 1.11%
Us Bank 6, 0.06% 8.33%
Great Western Bank 7, 0.08% 12.22%
Quicken Loans 8, 0.13% 8.33%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
CorTrust Bank National Association 1, -0.07% 13.43%
Great Western Bank 2, -0.04% 7.46%
Us Bank 3, -0.03% 4.48%
Plains Commerce Bank 4, -0.02% 32.84%
Wells Fargo Bank 5, -0.00% 1.49%
Quicken Loans 6, 0.02% 11.94%
American Mortgage & Equity Consultants Inc 7, 0.06% 28.36%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
CorTrust Bank National Association 1, -0.08% 17.39%
Great Western Bank 2, -0.05% 6.52%
Us Bank 3, -0.03% 6.52%
Plains Commerce Bank 4, -0.02% 28.26%
Wells Fargo Bank 5, -0.01% 2.17%
Quicken Loans 6, 0.01% 6.52%
American Mortgage & Equity Consultants Inc 7, 0.08% 32.61%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Great Western Bank 1, -0.04% 9.52%
Plains Commerce Bank 2, -0.01% 42.86%
CorTrust Bank National Association 3, -0.01% 4.76%
American Mortgage & Equity Consultants Inc 4, 0.01% 19.05%
Quicken Loans 5, 0.03% 23.81%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
CorTrust Bank National Association 1, 0.00% 16.67%
Us Bank 2, 0.00% 50.00%
Great Western Bank 3, 0.00% 16.67%
Wells Fargo Bank 4, 0.00% 16.67%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
CorTrust Bank National Association 1, 0.00% 33.33%
Great Western Bank 2, 0.00% 33.33%
Wells Fargo Bank 3, 0.00% 33.33%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Us Bank 1, 0.00% 100.00%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
CorTrust Bank National Association 1, -0.03% 20.69%
Wells Fargo Bank 2, -0.01% 10.34%
Dacotah Bank 3, 0.00% 13.79%
Plains Commerce Bank 4, 0.01% 13.79%
Us Bank 5, 0.01% 3.45%
Great Western Bank 6, 0.01% 10.34%
Quicken Loans 7, 0.01% 13.79%
American Mortgage & Equity Consultants Inc 8, 0.02% 13.79%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
CorTrust Bank National Association 1, -0.03% 14.29%
Wells Fargo Bank 2, -0.01% 14.29%
Dacotah Bank 3, 0.00% 19.05%
Us Bank 4, 0.00% 4.76%
Plains Commerce Bank 5, 0.01% 14.29%
Quicken Loans 6, 0.01% 9.52%
Great Western Bank 7, 0.01% 9.52%
American Mortgage & Equity Consultants Inc 8, 0.02% 14.29%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
CorTrust Bank National Association 1, -0.02% 37.50%
Great Western Bank 2, 0.00% 12.50%
Plains Commerce Bank 3, 0.00% 12.50%
American Mortgage & Equity Consultants Inc 4, 0.01% 12.50%
Quicken Loans 5, 0.02% 25.00%

* Data is compiled for the Aberdeen, SD commuting zone area, which comprises of counties of Brown County, SD, Edmunds County, SD, Faulk County, SD, McPherson County, SD, and Spink County, SD. This includes cities/towns/communities of Aberdeen, SD as well as Hecla, SD, Groton, SD, Ipswich, SD, Redfield, SD, Faulkton, SD, Mellette, SD, Eureka, SD, Bowdle, SD, and Doland, 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.

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