DSCR Loans in South Dakota
Reviewed by Dominick Prevete, Founder & CEO, National Loan Provider31+ years in real estate finance
LinkedIn35 closed transactionsNLPI LLC, NJ entity ID 0451062247 (verify on the NJ business search)
Dominick Prevete arranges DSCR loans across 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. In 2025 HMDA data, 123 lenders made 1,108 investment-property loans in South Dakota; the most active are in the table below, and 2 counties have their own page.
South Dakota investor market at a glance
| Statistic | South Dakota | National | State rank |
|---|---|---|---|
| Investor loans | 1,108 | 553,332 | 46th of 51 |
| Reporting lenders | 123 | 4,120 | 48th of 51 |
| Loan volume | $260.4M | $190.57B | 48th of 51 |
| Average loan | $235K | $344K | 37th of 51 |
| Median loan | $175K | — | 33rd of 51 |
| Purchases | 67.1% | 59.2% | 6th of 51 |
| Cash-out refinances | 6.9% | 18.8% | 48th of 51 |
| 2–4 unit properties | 20.9% | 17.3% | 18th of 51 |
| Top five lenders' share | 31.3% | 21.9% | 7th of 51 |
| Reported business-purpose | 63.2% | 70.8% | 40th of 51 |
South Dakota: closed-end loans on 1–4 unit investment properties. Rank is highest first among the 50 states and DC. The national figures are totals for loans and volume, distinct filers for lenders, and loan-weighted averages for every share; a median does not combine across states.
What stands out in South Dakota
6.9% of South Dakota's investor loans were cash-out refinances, the 4th-lowest share of the 50 states and DC (national figure: 18.8%).
When investors here do take cash out, the DSCR cash-out refinances Dominick arranges require no seasoning.
67.1% of South Dakota's investor loans were purchases, the 6th-highest share of the 50 states and DC (national figure: 59.2%).
Most investor loans here are purchases. A DSCR purchase qualifies on the property's rent, so you can get written terms before you make an offer with the Instant Term Sheet.
The five most active lenders wrote 31.3% of South Dakota's investor loans, the 7th-highest share of the 50 states and DC (national figure: 21.9%).
Five lenders write 31.3% of the loans here, so comparing written term sheets matters more.
Who are the DSCR and investment-property lenders in South Dakota?
The most active investment-property lenders in South Dakota in 2025 HMDA data were American Bank & Trust, First Bank & Trust and First PREMIER Bank, out of 123 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 two that reported in South Dakota, and matches each file to the one most likely to fund it.
Every year, lenders report their originations under the Home Mortgage Disclosure Act. We filtered South Dakota's 2025 filings to closed-end loans on 1–4 unit investment properties: 1,108 loans totaling $0.26B across 123 lenders. These were the most active.
| Lender | Loans | Volume | Avg loan | Purchase share |
|---|---|---|---|---|
| American Bank & Trust | 82 | $15.8M | $192K | 78.0% |
| First Bank & Trust | 69 | $14.1M | $204K | 75.4% |
| First PREMIER Bank | 67 | $11.5M | $172K | 67.2% |
| Plains Commerce Bank | 65 | $11.4M | $175K | 80.0% |
| First Dakota National Bank | 64 | $21.6M | $337K | 71.9% |
| BANKWEST, INC. | 39 | $8.6M | $221K | 74.4% |
| Dacotah Bank | 35 | $8.3M | $238K | 65.7% |
| First National Bank | 31 | $6.8M | $219K | 67.7% |
| The First National Bank in Sioux Falls | 30 | $6.5M | $216K | 60.0% |
| Frontier Bank | 27 | $3.6M | $134K | 88.9% |
| CMG MORTGAGE, INC. | 26 | $6.9M | $266K | 80.8% |
| Quoin Financial Bank | 25 | $7.1M | $285K | 52.0% |
| CorTrust Bank National Association | 23 | $9.5M | $415K | 26.1% |
| Pioneer Bank & Trust | 23 | $7.1M | $308K | 87.0% |
| First International Bank & Trust | 23 | $5.0M | $216K | 78.3% |
| United Wholesale Mortgage | 22 | $4.7M | $213K | 45.5% |
| Security Savings Bank | 20 | $4.3M | $216K | 50.0% |
| Reliabank Dakota | 19 | $4.8M | $251K | 73.7% |
| Central Bank | 19 | $3.9M | $205K | 78.9% |
| BLACK HILLS FEDERAL CREDIT UNION | 19 | $3.3M | $173K | 57.9% |
| First Interstate Bank | 16 | $2.4M | $151K | 87.5% |
| Sentinel Federal Credit Union | 15 | $4.8M | $318K | 33.3% |
| Rivers Edge Bank | 13 | $2.2M | $168K | 46.2% |
| U.S. Bank National Association | 12 | $2.9M | $242K | 75.0% |
| Fairway Independent Mortgage Corporation | 12 | $2.5M | $206K | 41.7% |
Source: 2025 HMDA loan-level data (CFPB/FFIEC Data Browser), retrieved November 11, 2026. Updated annually. See how this data is built or download the full dataset (CSV) — all 123 reporting lenders with every underlying figure. Researching the market rather than financing a property? The South Dakota lending data page covers this table on its own.
What this table can't show you: fit. HMDA exempts short-term financing, so fix-and-flip and bridge lenders barely appear here — and no federal dataset knows which lender's 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.
DSCR loans by county in South Dakota
Each county page compares the county's 2025 HMDA investor-lending figures with South Dakota's and names its most active lenders. Counties are listed by investor loan count.
2 South Dakota counties have their own page so far.
- Minnehaha County316 loans
- Pennington County157 loans
- Lincoln County (fewer than 100 investor loans in 2025)98 loans
- Lawrence County (fewer than 100 investor loans in 2025)63 loans
- Codington County (fewer than 100 investor loans in 2025)52 loans
- Brown County (fewer than 100 investor loans in 2025)47 loans
- Davison County (fewer than 100 investor loans in 2025)44 loans
- Clay County (fewer than 100 investor loans in 2025)30 loans
- Lake County (fewer than 100 investor loans in 2025)29 loans
- Meade County (fewer than 100 investor loans in 2025)29 loans
- Brookings County (fewer than 100 investor loans in 2025)24 loans
- Hughes County (fewer than 100 investor loans in 2025)23 loans
- Union County (fewer than 100 investor loans in 2025)23 loans
- Turner County (fewer than 100 investor loans in 2025)14 loans
- Custer County (fewer than 100 investor loans in 2025)12 loans
- Yankton County (fewer than 100 investor loans in 2025)11 loans
- Butte County (fewer than 100 investor loans in 2025)10 loans
- Grant County (fewer than 100 investor loans in 2025)10 loans
- Hamlin County (fewer than 100 investor loans in 2025)10 loans
- Beadle County (fewer than 100 investor loans in 2025)8 loans
- Fall River County (fewer than 100 investor loans in 2025)8 loans
- Brule County (fewer than 100 investor loans in 2025)7 loans
- Charles Mix County (fewer than 100 investor loans in 2025)7 loans
- Kingsbury County (fewer than 100 investor loans in 2025)7 loans
- Day County (fewer than 100 investor loans in 2025)6 loans
- McCook County (fewer than 100 investor loans in 2025)6 loans
- Walworth County (fewer than 100 investor loans in 2025)6 loans
- Hutchinson County (fewer than 100 investor loans in 2025)5 loans
- Roberts County (fewer than 100 investor loans in 2025)5 loans
- Moody County (fewer than 100 investor loans in 2025)4 loans
- Spink County (fewer than 100 investor loans in 2025)4 loans
- Tripp County (fewer than 100 investor loans in 2025)4 loans
- Clark County (fewer than 100 investor loans in 2025)3 loans
- Hand County (fewer than 100 investor loans in 2025)3 loans
- Deuel County (fewer than 100 investor loans in 2025)2 loans
- Douglas County (fewer than 100 investor loans in 2025)2 loans
- Edmunds County (fewer than 100 investor loans in 2025)2 loans
- Faulk County (fewer than 100 investor loans in 2025)2 loans
- Gregory County (fewer than 100 investor loans in 2025)2 loans
- Perkins County (fewer than 100 investor loans in 2025)2 loans
- Stanley County (fewer than 100 investor loans in 2025)2 loans
- Aurora County (fewer than 100 investor loans in 2025)1 loans
- Bon Homme County (fewer than 100 investor loans in 2025)1 loans
- Harding County (fewer than 100 investor loans in 2025)1 loans
- Jerauld County (fewer than 100 investor loans in 2025)1 loans
- Lyman County (fewer than 100 investor loans in 2025)1 loans
- McPherson County (fewer than 100 investor loans in 2025)1 loans
- Miner County (fewer than 100 investor loans in 2025)1 loans
- Sully County (fewer than 100 investor loans in 2025)1 loans
Run the coverage test on your South Dakota deal
Rent divided by the full monthly payment is the number a DSCR loan qualifies on. Enter a 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 — South Dakota's at-a-glance figures, its rank among the 50 states and DC, its observations and the Quick Read's 123 lenders and 1,108 loans: 2025 HMDA loan-level data.
- South Dakota investor-lender dataset (CSV) — Every South Dakota lender behind the table above, with volume, average loan and purchase share for each.
- South Dakota investor lending data, Dominick Prevete — The South Dakota table on its own, with the state's concentration figures and the method behind them.
- 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.