DSCR Loans in Pennington 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, 46 lenders made 157 investment-property loans in Pennington County, 14.2% of South Dakota's total. Dominick Prevete arranges DSCR loans across Pennington 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 $270,000.
Pennington County investor market at a glance
| Statistic | Pennington County | South Dakota | County rank |
|---|---|---|---|
| Investor loans | 157 | 1,108 | 2nd of 2 |
| Reporting lenders | 46 | 123 | 2nd of 2 |
| Loan volume | $39.0M | $260.4M | 2nd of 2 |
| Average loan | $249K | $235K | 1st of 2 |
| Median loan | $205K | $175K | 1st of 2 |
| Purchases | 58.0% | 67.1% | 2nd of 2 |
| Cash-out refinances | 17.2% | 6.9% | 1st of 2 |
| 2–4 unit properties | 19.1% | 20.9% | 2nd of 2 |
| Top five lenders' share | 37.6% | 31.3% | 2nd of 2 |
| Reported business-purpose | 60.5% | 63.2% | 2nd of 2 |
Pennington County: closed-end loans on 1–4 unit investment properties. Pennington County's rank is highest first, among South Dakota's counties with at least 100 investor loans and 25 reporting lenders. Shares are of Pennington County's investor loans.
What stands out in Pennington County
19.1% of Pennington County's investor loans financed a 2–4 unit property, the lowest share of South Dakota's 2 counties with published data (statewide: 20.9%).
Single-family rentals dominate here. A DSCR loan qualifies a single-family rental on its market rent, not your income.
60.5% of Pennington County's investor loans were reported as business-purpose, the lowest share of South Dakota's 2 counties with published data (statewide: 63.2%).
Fewer investor loans here were reported as business-purpose than in most of South Dakota. Dominick arranges business-purpose financing only, on investment property, never a primary residence.
The median investor loan in Pennington County was $205K, the highest median of South Dakota's 2 counties with published data (statewide: $175K).
Loans here run large. Dominick arranges DSCR loans from $75,000 up through jumbo balances.
Does a DSCR loan pencil in Pennington County?
At HUD's fair market rent of $1,833 for a 3-bedroom in Pennington County, South Dakota, a rental covers its full DSCR payment up to a purchase price of about $270,000, with 20% down at the 7.25% starting rate (November 2026). Pennington County's median home value is $302,200; at that price the payment is $2,047 a month, so the property would need $2,050 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) | $1,430 / $1,833 / $2,390 |
|---|---|
| Median home value (2020–2024 ACS 5-year) | $302,200 |
| Median property taxes and effective rate | $3,265 (1.08% of value) |
| Monthly payment on the median-value home: P&I, taxes, insurance | $2,047 |
| Rent needed to cover that payment | $2,050 |
| Coverage of a 3-bedroom at fair market rent | 0.90 |
| Highest price a 3-bedroom at fair market rent covers | about $270,000 |
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 Pennington County's numbers in the calculator below →
Who are the DSCR and investment-property lenders in Pennington County?
The most active investment-property lenders in Pennington County in 2025 HMDA data were CMG MORTGAGE, INC.; Pioneer Bank & Trust; and First National Bank, out of 46 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, including one that reported in Pennington County, and matches each file to the one most likely to fund it.
Pennington County's 2025 HMDA filings, closed-end loans on 1–4 unit investment properties only: 157 loans and $39.0M from 46 lenders. CMG MORTGAGE, INC. led Pennington County with 15 loans, 9.6% of the county's total, and the average Pennington County loan of $249K compares with $235K across South Dakota.
| Lender | Loans | Volume | Avg loan | Purchase share |
|---|---|---|---|---|
| CMG MORTGAGE, INC. | 15 | $3.3M | $219K | 86.7% |
| Pioneer Bank & Trust | 13 | $3.6M | $274K | 92.3% |
| First National Bank | 12 | $3.0M | $252K | 58.3% |
| United Wholesale Mortgage | 10 | $2.2M | $217K | 30.0% |
| Sentinel Federal Credit Union | 9 | $1.7M | $184K | 22.2% |
| Aspen | 8 | $3.3M | $418K | 62.5% |
| BLACK HILLS FEDERAL CREDIT UNION | 8 | $1.5M | $185K | 50.0% |
| Granite Bank | 7 | $1.5M | $221K | 42.9% |
| BANKWEST, INC. | 6 | $1.9M | $310K | 66.7% |
| Dacotah Bank | 6 | $1.1M | $185K | 33.3% |
| KIND LENDING, LLC | 5 | $1.3M | $261K | 20.0% |
| Security First Bank | 4 | $2.2M | $543K | 0.0% |
| AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC | 4 | $1.2M | $300K | 50.0% |
| Plains Commerce Bank | 4 | $0.9M | $220K | 50.0% |
| 21st Mortgage Corporation | 4 | $0.3M | $70K | 100.0% |
| PENNYMAC LOAN SERVICES, LLC | 3 | $0.9M | $308K | 100.0% |
| NEWREZ LLC | 3 | $0.7M | $228K | 66.7% |
| Kiavi Funding, Inc. | 3 | $0.6M | $188K | 100.0% |
| FREEDOM MORTGAGE CORPORATION | 2 | $0.6M | $275K | 50.0% |
| U.S. Bank National Association | 2 | $0.4M | $220K | 100.0% |
| Black Hills Community Bank, N.A. | 2 | $0.4M | $205K | 0.0% |
| PLAZA HOME MORTGAGE, INC. | 2 | $0.4M | $185K | 0.0% |
| Rocket Mortgage, LLC | 2 | $0.3M | $150K | 0.0% |
| American State Bank | 1 | $0.7M | $695K | 100.0% |
| BETTER MORTGAGE CORPORATION | 1 | $0.7M | $695K | 0.0% |
1 South Dakota loans (0.1%) carry no county code in HMDA, so county figures sum to less than the state total.
Source for Pennington County: 2025 HMDA loan-level data from the CFPB/FFIEC Data Browser, retrieved November 11, 2026. How this data is built · Pennington County CSV, all 25 lenders
What Pennington County's table can't show you: fit. Short-term financing is exempt from HMDA, so Pennington County's fix-and-flip and bridge lenders barely appear among its 46 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 — including some on this list — 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 Pennington County with published lender data
| County | Investor loans, 2025 | Lenders | Where it is from Pennington County |
|---|---|---|---|
| Laramie County, WY | 191 | 58 | About 210 miles away |
| Natrona County, WY | 155 | 29 | About 210 miles away |
| Burleigh County, ND | 147 | 30 | About 235 miles away |
Run the coverage test on your Pennington County, South Dakota deal
Rent divided by the full monthly payment is the number a DSCR loan qualifies on. Enter a Pennington 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 — Pennington County's at-a-glance figures, its observations, its 25-lender table and the Quick Read's 46 lenders and 157 loans: 2025 HMDA loan-level data rolled up to Pennington County.
- Pennington County investor-lender dataset (CSV) — All 25 lenders in the Pennington County, South Dakota table, ranked by loan count, with volume, average loan and purchase share for each.
- HUD FY2027 Fair Market Rents — Pennington 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 Rapid City, SD HUD Metro FMR Area.
- Census ACS 2020–2024 5-year, tables B25077 and B25103 — Pennington 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.