Top Mortgage Lenders in Brookings, SD

Which mortgage lender in the Brookings, 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 Brookings, 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 Brookings, SD area is First Bank & Trust, with a “Rate Rank” of 1 and an average “Rate Difference” of -0.05%. This means that First Bank & Trust provided a -0.05% lower interest rate for its customers than other lenders in Brookings, SD for a similar set of borrowers. First Bank & Trust has a market share of 39.9%. It is the most popular lender in the area.

Our detailed rankings of the mortgage lenders for the Brookings, 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, First Bank & Trust is the cheapest mortgage provider for Conventional and Jumbo mortgages in Brookings, SD. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is Fairway Independent Mort Corp. 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 Brookings, SD

Mortgage Type:
Purchase/Refinance:
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
First Bank & Trust 1, -0.05% 39.92%
Great Western Bank 2, 0.01% 15.89%
Fairway Independent Mort Corp 3, 0.02% 14.05%
Plains Commerce Bank 4, 0.02% 11.41%
CU Mortgage Direct 5, 0.04% 10.79%
Quicken Loans 6, 0.10% 7.94%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
First Bank & Trust 1, -0.02% 38.85%
Great Western Bank 2, 0.00% 14.19%
Fairway Independent Mort Corp 3, 0.01% 19.93%
CU Mortgage Direct 4, 0.01% 10.81%
Plains Commerce Bank 5, 0.02% 12.50%
Quicken Loans 6, 0.02% 3.72%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
First Bank & Trust 1, -0.09% 41.54%
Plains Commerce Bank 2, 0.01% 9.74%
Great Western Bank 3, 0.02% 18.46%
Fairway Independent Mort Corp 4, 0.03% 5.13%
CU Mortgage Direct 5, 0.09% 10.77%
Quicken Loans 6, 0.14% 14.36%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
First Bank & Trust 1, -0.06% 43.38%
Great Western Bank 2, 0.01% 17.89%
Plains Commerce Bank 3, 0.02% 10.78%
CU Mortgage Direct 4, 0.05% 11.76%
Fairway Independent Mort Corp 5, 0.06% 10.05%
Quicken Loans 6, 0.14% 6.13%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
First Bank & Trust 1, -0.03% 42.86%
Great Western Bank 2, 0.00% 16.88%
Quicken Loans 3, 0.01% 1.73%
CU Mortgage Direct 4, 0.01% 12.99%
Plains Commerce Bank 5, 0.02% 10.82%
Fairway Independent Mort Corp 6, 0.06% 14.72%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
First Bank & Trust 1, -0.09% 44.07%
Plains Commerce Bank 2, 0.02% 10.73%
Great Western Bank 3, 0.02% 19.21%
Fairway Independent Mort Corp 4, 0.03% 3.95%
CU Mortgage Direct 5, 0.11% 10.17%
Quicken Loans 6, 0.18% 11.86%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Fairway Independent Mort Corp 1, -0.04% 41.82%
CU Mortgage Direct 2, 0.02% 3.64%
Great Western Bank 3, 0.02% 5.45%
Plains Commerce Bank 4, 0.03% 20.00%
Quicken Loans 5, 0.04% 16.36%
First Bank & Trust 6, 0.04% 12.73%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Fairway Independent Mort Corp 1, -0.04% 45.83%
CU Mortgage Direct 2, 0.02% 2.08%
Great Western Bank 3, 0.03% 4.17%
Plains Commerce Bank 4, 0.03% 22.92%
First Bank & Trust 5, 0.04% 14.58%
Quicken Loans 6, 0.05% 10.42%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
CU Mortgage Direct 1, -0.01% 14.29%
Great Western Bank 2, -0.00% 14.29%
Fairway Independent Mort Corp 3, 0.00% 14.29%
Quicken Loans 4, 0.00% 57.14%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
First Bank & Trust 1, 0.00% 100.00%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
First Bank & Trust 1, 0.00% 100.00%
Insufficient data available.
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
CU Mortgage Direct 1, -0.02% 11.11%
First Bank & Trust 2, -0.00% 40.74%
Plains Commerce Bank 3, 0.00% 3.70%
Great Western Bank 4, 0.00% 7.41%
Fairway Independent Mort Corp 5, 0.00% 18.52%
Quicken Loans 6, 0.01% 18.52%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
CU Mortgage Direct 1, -0.01% 6.25%
Plains Commerce Bank 2, -0.00% 6.25%
Great Western Bank 3, -0.00% 6.25%
First Bank & Trust 4, -0.00% 50.00%
Fairway Independent Mort Corp 5, -0.00% 18.75%
Quicken Loans 6, 0.02% 12.50%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
CU Mortgage Direct 1, -0.02% 18.18%
First Bank & Trust 2, -0.01% 27.27%
Great Western Bank 3, 0.01% 9.09%
Quicken Loans 4, 0.01% 27.27%
Fairway Independent Mort Corp 5, 0.01% 18.18%

* Data is compiled for the Brookings, SD commuting zone area, which comprises of counties of Brookings County, SD, Kingsbury County, SD, Lake County, SD, Miner County, SD, and Moody County, SD. This includes cities/towns/communities of Brookings, SD as well as Madison, SD, Elkton, SD, Volga, SD, Lake Madison, SD, Colman, SD, Arlington, SD, Ramona, SD, Flandreau, SD, Howard, SD, and De Smet, 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 Brookings, SD area. For mortgage lender rankings of other cities, click here.