DSCR Loans in Minnehaha County, South Dakota
Reviewed by Dominick Prevete, Founder & CEO, National Loan Provider31+ years in real estate finance
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In 2025 HMDA data, 55 lenders made 316 investment-property loans in Minnehaha County, 28.5% of South Dakota's total. Dominick Prevete arranges DSCR loans across Minnehaha County, South Dakota, qualified on the property's rent, not your tax returns. DSCR rental loans start from 7.25% (November 2026), and most close in 14 days. At HUD's fair market rent, a three-bedroom rental there covers its full payment up to a price of about $245,000.
Minnehaha County investor market at a glance
| Statistic | Minnehaha County | South Dakota | County rank |
|---|---|---|---|
| Investor loans | 316 | 1,108 | 1st of 2 |
| Reporting lenders | 55 | 123 | 1st of 2 |
| Loan volume | $71.4M | $260.4M | 1st of 2 |
| Average loan | $226K | $235K | 2nd of 2 |
| Median loan | $180K | $175K | 2nd of 2 |
| Purchases | 68.4% | 67.1% | 1st of 2 |
| Cash-out refinances | 4.7% | 6.9% | 2nd of 2 |
| 2–4 unit properties | 19.3% | 20.9% | 1st of 2 |
| Top five lenders' share | 40.5% | 31.3% | 1st of 2 |
| Reported business-purpose | 62.0% | 63.2% | 1st of 2 |
Minnehaha County: closed-end loans on 1–4 unit investment properties. Minnehaha County's rank is highest first, among South Dakota's counties with at least 100 investor loans and 25 reporting lenders. Shares are of Minnehaha County's investor loans.
What stands out in Minnehaha County
19.3% of Minnehaha County's investor loans financed a 2–4 unit property, the highest share of South Dakota's 2 counties with published data (statewide: 20.9%).
2–4 unit properties are a larger share here than in most of South Dakota. A DSCR loan on a 2–4 unit property qualifies on the rent from all of its units.
By share of investor loans reported as business-purpose, Minnehaha County ranks highest of South Dakota's 2 counties with published data (statewide: 63.2%).
62.0% of investor loans here were reported as business-purpose, the only kind of financing Dominick arranges.
The average investor loan in Minnehaha County was $226K, the lowest average of South Dakota's 2 counties with published data (statewide: $235K).
Loans here run small. DSCR loans Dominick arranges start at $75,000.
Does a DSCR loan pencil in Minnehaha County?
At HUD's fair market rent of $1,694 for a 3-bedroom in Minnehaha County, South Dakota, a rental covers its full DSCR payment up to a purchase price of about $245,000, with 20% down at the 7.25% starting rate (November 2026). Minnehaha County's median home value is $287,600; at that price the payment is $1,963 a month, so the property would need $1,975 in rent to cover it.
Coverage under 1.00 doesn't end the deal: the DSCR programs Dominick arranges go down to no-ratio, priced for the lower coverage, and a lower price or a larger down payment raises the ratio.
| HUD fair market rent, 2 / 3 / 4 bedroom (FY2027) | $1,228 / $1,694 / $2,053 |
|---|---|
| Median home value (2020–2024 ACS 5-year) | $287,600 |
| Median property taxes and effective rate | $3,281 (1.14% of value) |
| Monthly payment on the median-value home: P&I, taxes, insurance | $1,963 |
| Rent needed to cover that payment | $1,975 |
| Coverage of a 3-bedroom at fair market rent | 0.86 |
| Highest price a 3-bedroom at fair market rent covers | about $245,000 |
Fair market rent is HUD's 40th-percentile gross rent, including utilities; a property's appraised market rent can be higher or lower. Payment uses 20% down, a 30-year amortization at the published DSCR starting rate, the county's median effective property-tax rate and insurance at 0.50% of value. Purchase leverage goes up to 85% on qualifying files. This is an illustration, not a term sheet or an offer of credit.
Price your actual deal →Run Minnehaha County's numbers in the calculator below →
Who are the DSCR and investment-property lenders in Minnehaha County?
The most active investment-property lenders in Minnehaha County in 2025 HMDA data were First PREMIER Bank, First Bank & Trust and Frontier Bank, out of 55 lenders that reported. HMDA doesn't flag which loans were DSCR loans, so this list mixes DSCR and conventional investment-property lenders. Dominick Prevete places DSCR loans across 100+ lenders and matches each file to the one most likely to fund it.
Minnehaha County's 2025 HMDA filings, closed-end loans on 1–4 unit investment properties only: 316 loans and $71.4M from 55 lenders. First PREMIER Bank led Minnehaha County with 34 loans, 10.8% of the county's total, and the average Minnehaha County loan of $226K compares with $235K across South Dakota.
| Lender | Loans | Volume | Avg loan | Purchase share |
|---|---|---|---|---|
| First PREMIER Bank | 34 | $6.3M | $184K | 70.6% |
| First Bank & Trust | 31 | $6.7M | $216K | 64.5% |
| Frontier Bank | 22 | $2.9M | $131K | 90.9% |
| First Dakota National Bank | 21 | $5.7M | $270K | 85.7% |
| Plains Commerce Bank | 20 | $4.0M | $201K | 100.0% |
| American Bank & Trust | 17 | $5.7M | $333K | 58.8% |
| The First National Bank in Sioux Falls | 16 | $3.1M | $193K | 50.0% |
| First International Bank & Trust | 16 | $2.9M | $183K | 87.5% |
| Security Savings Bank | 14 | $3.2M | $228K | 42.9% |
| Quoin Financial Bank | 13 | $4.6M | $351K | 76.9% |
| Central Bank | 12 | $2.7M | $225K | 83.3% |
| Reliabank Dakota | 10 | $2.5M | $254K | 70.0% |
| CorTrust Bank National Association | 9 | $5.3M | $592K | 0.0% |
| BLACK HILLS FEDERAL CREDIT UNION | 5 | $1.1M | $219K | 60.0% |
| United Wholesale Mortgage | 5 | $0.7M | $149K | 40.0% |
| CROSSCOUNTRY MORTGAGE, INC. | 4 | $0.9M | $235K | 100.0% |
| American State Bank | 4 | $0.8M | $208K | 100.0% |
| Fairway Independent Mortgage Corporation | 4 | $0.7M | $168K | 75.0% |
| Premier Bank | 4 | $0.6M | $158K | 0.0% |
| Security National Bank of South Dakota | 4 | $0.6M | $138K | 25.0% |
| Peoples Bank | 3 | $0.7M | $232K | 66.7% |
| First Savings Bank | 3 | $0.7M | $225K | 100.0% |
| SERVICE FIRST FEDERAL CREDIT UNION | 3 | $0.5M | $175K | 0.0% |
| U.S. Bank National Association | 3 | $0.5M | $165K | 100.0% |
| CORTRUST MORTGAGE, INC. | 3 | $0.5M | $155K | 66.7% |
1 South Dakota loans (0.1%) carry no county code in HMDA, so county figures sum to less than the state total.
Source for Minnehaha County: 2025 HMDA loan-level data from the CFPB/FFIEC Data Browser, retrieved November 11, 2026. How this data is built · Minnehaha County CSV, all 25 lenders
What Minnehaha County's table can't show you: fit. Short-term financing is exempt from HMDA, so Minnehaha County's fix-and-flip and bridge lenders barely appear among its 55 filers, and none of the 25 names above tells you whose guidelines match your deal, your entity, or your timeline. That's the job. Dominick Prevete structures your file and places it across 100+ lenders so it lands with the one most likely to fund it.
Price your loan →Dominick Prevete places loans with some of the lenders listed here through wholesale relationships, and is paid when a loan he arranges closes. Appearing in this table is not an endorsement or a recommendation.
Counties near Minnehaha County with published lender data
| County | Investor loans, 2025 | Lenders | Where it is from Minnehaha County |
|---|---|---|---|
| Woodbury County, IA | 299 | 36 | About 95 miles away |
| Blue Earth County, MN | 107 | 37 | About 140 miles away |
| Douglas County, NE | 1,310 | 154 | About 165 miles away |
| Stearns County, MN | 156 | 57 | About 170 miles away |
Run the coverage test on your Minnehaha County, South Dakota deal
Rent divided by the full monthly payment is the number a DSCR loan qualifies on. Enter a Minnehaha County, South Dakota property's rent, loan, taxes and insurance to see where it lands.
Principal and interest on a thirty-year amortization, plus taxes, insurance and HOA.
Enter the rent, loan amount, rate, taxes and insurance to see the coverage ratio.
Sources
- CFPB / FFIEC HMDA Data Browser — Minnehaha County's at-a-glance figures, its observations, its 25-lender table and the Quick Read's 55 lenders and 316 loans: 2025 HMDA loan-level data rolled up to Minnehaha County.
- Minnehaha County investor-lender dataset (CSV) — All 25 lenders in the Minnehaha County, South Dakota table, ranked by loan count, with volume, average loan and purchase share for each.
- HUD FY2027 Fair Market Rents — Minnehaha County's 2-, 3- and 4-bedroom fair market rents in the rent math, and the 3-bedroom rent its highest-price figure uses: HUD's FY2027 figures for the Sioux Falls, SD HUD Metro FMR Area.
- Census ACS 2020–2024 5-year, tables B25077 and B25103 — Minnehaha County's median home value (B25077) and median property taxes paid (B25103) in the rent math, from the Census 2020–2024 ACS 5-year summary files.
- DSCR loan rates, Dominick Prevete — DSCR rental loans start from 7.25%, as of November 2026: the Instant Term Sheet's best-case scenario on the current rate sheets.