Mortgage Approval and Denial Rates in South Dakota (2025 HMDA)
Mortgage denial rates in South Dakota: lenders acted on 25,880 mortgage applications in South Dakota in 2025 and denied 12.7% of them, down from 14.0% in 2024. The national denial rate was 17.7%.
Applications acted on
25,880
Loans originated
17,103
Denial rate
12.7%
Median loan
$225,000
South Dakota against the national picture
Most-reported denial reason in South Dakota: Debt-to-income ratio.
Counties ranked by denial rate
| County | Applications | Denial rate | Median loan |
|---|---|---|---|
| Moody County | 164 | 19.5% | $205,000 |
| Bon Homme County | 131 | 19.1% | $145,000 |
| Fall River County | 334 | 18.9% | $195,000 |
| Clay County | 384 | 17.2% | $165,000 |
| Day County | 116 | 17.2% | $145,000 |
| Custer County | 358 | 17.0% | $240,000 |
| Turner County | 298 | 16.8% | $185,000 |
| Beadle County | 308 | 16.6% | $165,000 |
| Hutchinson County | 175 | 16.0% | $155,000 |
| Kingsbury County | 145 | 15.9% | $155,000 |
| Butte County | 379 | 15.6% | $215,000 |
| Roberts County | 140 | 15.0% | $140,000 |
| McCook County | 192 | 14.6% | $185,000 |
| Charles Mix County | 100 | 14.0% | $155,000 |
| Grant County | 207 | 13.5% | $155,000 |
| Brown County | 702 | 13.4% | $185,000 |
| Yankton County | 526 | 13.3% | $205,000 |
| Pennington County | 4,140 | 13.2% | $265,000 |
| Lake County | 370 | 13.2% | $185,000 |
| Lawrence County | 1,086 | 12.9% | $255,000 |
| Meade County | 1,129 | 12.8% | $295,000 |
| Hughes County | 469 | 12.8% | $195,000 |
| Union County | 520 | 12.5% | $245,000 |
| Codington County | 839 | 11.6% | $185,000 |
| Minnehaha County | 6,874 | 11.2% | $235,000 |
| Davison County | 492 | 11.2% | $195,000 |
| Brookings County | 744 | 10.5% | $225,000 |
| Hamlin County | 200 | 9.5% | $205,000 |
| Lincoln County | 2,796 | 9.0% | $265,000 |
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Reading these numbers
The denial rate counts applications the lender acted on, so withdrawn files do not inflate it. A high rate does not automatically mean strict lenders: counties with many first-time or lower-income applicants tend to show higher denial rates because of debt-to-income and credit-history thresholds, which are the two reasons lenders report most often. Median loan amount and median applicant income are computed from the same application records, so they describe who is applying — not who ends up buying.
Source: Consumer Financial Protection Bureau, HMDA Data Browser (2025 loan application register). Latest observation 2026-08-23.