South Dakota · Q1 2026
What South Dakota borrowers paid in mortgage closing costs in 2025, drawn from FFIEC HMDA filings across 232 lenders.
Published 2026-04-29.
South Dakota · headline
The gap between South Dakota's lowest- and highest-cost ranked lenders in 2025 was $6,795 on a typical loan — borrowers using CMG Financial paid roughly 906% more than borrowers using Levo Federal Credit Union on similar loans.
Source: FFIEC HMDA 2025 (n=11,356)
In 2025, 232 mortgage lenders originated 11,356 reportable loans in South Dakota according to FFIEC HMDA data. The median borrower paid $4,938 in total loan costs. That is 16.4% above the national median across all 50 states and DC.
South Dakota's median total loan cost was $4,938, 16.4% above the national median of $4,242. On a typical loan, that translates to roughly $696 more than borrowers paid in the average state.
Levo Federal Credit Union posted the lowest median total loan costs at $750, 84.8% below the South Dakota median. Across the ranked lenders, 9 earned an A grade against peer averages and 2 fell to D or F.
Lower bars = lower median total loan costs. Hover (or tap) bars for sample size and grade. Bar color groups lenders into cost quartiles.
Lenders below 30 records in South Dakota are excluded from this ranking. See full methodology.
Same 10 lenders as the chart above, ranked here by 2025 HMDA loan count.
| # | Lender | Median total cost | Median origination | Reports | Grade |
|---|---|---|---|---|---|
| 1 | Plains Commerce Bank | $6,476 | $4,247 | 886 | C |
| 2 | Rocket Mortgage | $5,573 | $3,813 | 753 | B |
| 3 | First Bank & Trust | $4,962 | $2,270 | 616 | A |
| 4 | First PREMIER Bank | $4,475 | $575 | 592 | A |
| 5 | Levo Federal Credit Union | $750 | $595 | 526 | A |
| 6 | CMG Financial | $7,544 | $3,910 | 499 | F |
| 7 | First Dakota National Bank | $2,711 | $494 | 482 | A |
| 8 | United Wholesale Mortgage | $6,817 | $3,799 | 397 | D |
| 9 | Dacotah Bank | $4,175 | $1,830 | 378 | A |
| 10 | Black Hills Federal Credit Union | $6,030 | $3,330 | 365 | C |
South Dakota median total loan cost
South Dakota borrowers paid a median $4,938 in total loan costs in 2025, based on 11,356 HMDA-reported loans across 232 lenders.
FFIEC HMDA 2025
Lender spread in South Dakota
In South Dakota, the gap between Levo Federal Credit Union ($750 median) and CMG Financial ($7,544 median) was $6,795 on a typical 2025 loan.
FFIEC HMDA 2025
South Dakota vs. national
South Dakota closing costs ran 16.4% above the national median ($4,242) in 2025.
FFIEC HMDA 2025
The median origination charge in South Dakota was $2,380, with the typical lender clustering tightly around that figure. Discount points appeared on 42% of loans, with a median paid amount of $2,194 when present — meaningful enough that shoppers should ask whether quoted points actually buy down their rate cost-effectively. Lender credits offsetting closing costs were issued on 34% of loans, with a median credit of $250.
Avg $3,510
Median $2,194 when present
Median $250 when issued
HMDA itemizes origination, discount points, and lender credits. Title insurance, recording fees, and transfer tax (relevant in South Dakota) are not separately reported in HMDA — see our state benchmark page for those. See full methodology.
Related pages for South Dakota
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