Mortgage Lenders and Brokers in Watertown, South Dakota
Brian McKay
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iEditorial Disclosure
Editorial DisclosureLender lists come from federal HMDA loan data. Average rates come from our daily monitoring network. Editorial content is independent of any advertiser relationships.
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✓Fact Checked
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Loan Rates Last Updated and Verified: October 7, 2026
Watertown, South Dakota mortgage lenders include First Bank & TrustFirst Bank & Trust1120 9th Ave Se, Watertown, SD 57201A+5.0 ★Texas Ratio: 3.79%, First Premier BankFirst Premier Bank24 5th St Se, Watertown, SD 57201A+5.0 ★Texas Ratio: 0.42%, American Bank & TrustAmerican Bank & Trust1600 4th St Ne, Watertown, SD 57201A+5.0 ★Texas Ratio: 3.70%, Dacotah BankDacotah Bank1310 9th Ave Se, Watertown, SD 57201A5.0 ★Texas Ratio: 12.58%, Plains Commerce BankPlains Commerce Bank109 1st Ave Se, Watertown, SD 57201A5.0 ★Texas Ratio: 9.09%, Reliabank DakotaReliabank Dakota1401 4th St Ne, Watertown, SD 57201A+5.0 ★Texas Ratio: 2.16%, First Interstate BankFirst Interstate Bank35 1st Ave Ne, Watertown, SD 57201A+5.0 ★Texas Ratio: 4.72%, Wells Fargo Bank NAWells Fargo Bank NA1225 9th Ave Se, Watertown, SD 57201A+5.0 ★Texas Ratio: 5.36%, Bankwest, Inc.Bankwest, Inc.703 Main Ave, Armour, SD 57313C+4.1 ★Texas Ratio: 26.29%, and US Bank, N.A.US Bank, N.A.320 S 1st St, Aberdeen, SD 57401A+5.0 ★Texas Ratio: 2.85%. Banks, credit unions and mortgage companies are listed together, with FHA, VA and local options flagged for quick comparison.
Lenders are ranked only by the number of home loans they closed in Watertown, South Dakota in 2025, as reported under the federal Home Mortgage Disclosure Act. No lender pays for a higher spot. Lenders based in Watertown are listed first, then lenders elsewhere in South Dakota, then lenders from other states that closed loans there. Banks and credit unions carry a MonitorBankRates health grade, star rating and Texas Ratio, so you can judge how financially sound they are. Mortgage companies have no deposits to rate, so compare their loan programs, median loan and borrower reviews instead. Compare at least three lenders and ask each for a written loan estimate before you choose.
Mortgage Lenders and Brokers in Watertown, South Dakota
Market share is the lender's share of all home loans closed in Watertown, South Dakota. Approval share is approvals divided by completed applications. Grade is the MonitorBankRates Health and Safety Grade, available for banks and credit unions only. Average loan is the lender's mean loan amount here.
| Lender | Programs | Loans closed | Market share | Approval share | Average loan | View |
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1 office in Watertown 1120 9th Ave Se, Watertown, SD 57201 A+5.0 ★Texas Ratio: 3.79% |
Conventional, FHA, VA, USDA, HELOC | 65 +15 HELOCs |
15.8% | 95.6% | $203,461 | View |
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2 offices in Watertown 24 5th St Se, Watertown, SD 57201 A+5.0 ★Texas Ratio: 0.42% |
Conventional, FHA, VA, HELOC | 59 +19 HELOCs |
14.3% | 93.7% | $197,203 | View |
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1 office in Watertown 1600 4th St Ne, Watertown, SD 57201 A+5.0 ★Texas Ratio: 3.70% |
Conventional, FHA, USDA | 39 | 9.5% | 88.6% | $258,846 | View |
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1 office in Watertown 1310 9th Ave Se, Watertown, SD 57201 A5.0 ★Texas Ratio: 12.58% |
Conventional, VA, USDA, Jumbo | 31 | 7.5% | 93.9% | $209,516 | View |
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1 office in Watertown 109 1st Ave Se, Watertown, SD 57201 A5.0 ★Texas Ratio: 9.09% |
Conventional, FHA, VA | 28 | 6.8% | 87.5% | $230,714 | View |
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2 offices in Watertown 1401 4th St Ne, Watertown, SD 57201 A+5.0 ★Texas Ratio: 2.16% |
Conventional, FHA, Jumbo | 12 | 2.9% | 100% | $298,333 | View |
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★ 1 stars, 1 review 2 offices in Watertown 35 1st Ave Ne, Watertown, SD 57201 A+5.0 ★Texas Ratio: 4.72% |
Conventional, FHA, HELOC | 10 +18 HELOCs |
2.4% | 83.3% | $282,000 | View |
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1 office in Watertown 1225 9th Ave Se, Watertown, SD 57201 A+5.0 ★Texas Ratio: 5.36% |
Conventional, VA | 9 | 2.2% | 100% | $207,222 | View |
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703 Main Ave, Armour, SD 57313 C+4.1 ★Texas Ratio: 26.29% |
Conventional | 6 | 1.5% | 100% | $88,333 | View |
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320 S 1st St, Aberdeen, SD 57401 A+5.0 ★Texas Ratio: 2.85% |
Conventional | 2 | 0.5% | 66.7% | $135,000 | View |
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376 Liberty Boulevard, Box Elder, SD 57719 A+5.0 ★Texas Ratio: 0.00% |
Conventional | 1 | 0.2% | 100% | $385,000 | View |
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1808 S Sycamore Ave, Sioux Falls, SD 57110 A+5.0 ★Texas Ratio: 3.68% |
Conventional | 1 | 0.2% | 100% | $65,000 | View |
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600 Main Ave, Brookings, SD 57006 A+5.0 ★Texas Ratio: 2.72% |
Conventional | 1 | 0.2% | 100% | $175,000 | View |
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3400 S Sycamore Ave, Sioux Falls, SD 57110 4412 A+5.0 ★Texas Ratio: 3.06% |
Conventional | 1 | 0.2% | 100% | $85,000 | View |
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2016 6th Ave Se, Aberdeen, SD 57401 A+5.0 ★Texas Ratio: 5.11% |
Conventional | 1 | 0.2% | 100% | $305,000 | View |
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302 E 4th Ave, Milbank, SD 57252 A+5.0 ★Texas Ratio: 5.91% |
Conventional | 1 | 0.2% | 100% | $55,000 | View |
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201 N 3rd St, Beresford, SD 57004 A+5.0 ★Texas Ratio: 3.36% |
Conventional | 1 | 0.2% | 100% | $125,000 | View |
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79 2nd St Sw, Huron, SD 57350 A+5.0 ★Texas Ratio: 4.82% |
Conventional | 1 | 0.2% | 100% | $215,000 | View |
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607 Cornell Ave, Big Stone City, SD 57216 A+5.0 ★Texas Ratio: 5.77% |
HELOC | 0 +1 HELOCs |
0% | n/a | View | |
CU Mortgage Direct, LLC
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Conventional, FHA, VA | 10 | 2.4% | 100% | $337,000 | |
Fairway Independent Mort Corp
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Conventional, FHA, VA, USDA | 29 | 7% | 93.5% | $248,793 | |
Guaranteed Rate, Inc.
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Conventional, FHA, VA, USDA | 17 | 4.1% | 94.4% | $279,705 | |
Rocket Mortgage
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Conventional, FHA, VA | 17 | 4.1% | 79.2% | $163,823 | |
Mortgage Research Center
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Conventional, FHA, VA | 8 | 1.9% | 75% | $316,250 | |
Pennymac Loan Services LLC
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Conventional, VA | 6 | 1.5% | 85.7% | $130,000 | |
Farm Credit Mid-America, Aca
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Conventional, Jumbo | 6 | 1.5% | 100% | $475,000 | |
First International Bank & Trust
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Conventional, HELOC | 4 +1 HELOCs |
1% | 100% | $487,500 | |
CrossCountry Mortgage, LLC
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Conventional, FHA | 3 | 0.7% | 100% | $241,666 | |
Nationstar Mortgage
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Conventional, VA | 3 | 0.7% | 100% | $218,333 | |
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A+5.0 ★Texas Ratio: 4.11% |
Conventional | 2 | 0.5% | 100% | $305,000 | View |
United Wholesale Mortgage
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VA | 2 | 0.5% | 100% | $350,000 | |
Lakeview Loan Servicing, LLC
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Conventional | 2 | 0.5% | 60% | $60,000 | |
Freedom Mortgage Corporation
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VA | 2 | 0.5% | 66.7% | $310,000 | |
Amerisave Mortgage Company
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Conventional, FHA | 2 | 0.5% | 28.6% | $165,000 | |
Gate City Bank
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Conventional | 2 | 0.5% | 100% | $300,000 | |
Navy Federal Credit Union
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Conventional, VA | 2 | 0.5% | 100% | $375,000 | |
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A+5.0 ★Texas Ratio: 0.51% |
Conventional | 2 | 0.5% | 100% | $100,000 | View |
American Financial Resources LLC
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Conventional | 1 | 0.2% | 100% | $115,000 | |
Servion
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VA | 1 | 0.2% | 100% | $315,000 | |
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A+5.0 ★Texas Ratio: 3.28% |
Conventional | 1 | 0.2% | 100% | $395,000 | View |
Newrez LLC
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VA | 1 | 0.2% | 20% | $145,000 | |
Sage Home Loans Corporation
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Conventional | 1 | 0.2% | 100% | $475,000 | |
Kind Lending, LLC
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Conventional | 1 | 0.2% | 100% | $335,000 | |
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D3.3 ★Texas Ratio: 35.11% |
Conventional | 1 | 0.2% | 100% | $365,000 | View |
loanDepot.com LLC
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FHA | 1 | 0.2% | 33.3% | $225,000 | |
AmeriHome Mortgage Company, LLC
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VA | 1 | 0.2% | 100% | $245,000 | |
PHH Mortgage Corporation
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Conventional | 1 | 0.2% | 100% | $565,000 | |
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A5.0 ★Texas Ratio: 13.21% |
Conventional | 1 | 0.2% | 100% | $525,000 | View |
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A+5.0 ★Texas Ratio: 3.66% |
Conventional | 1 | 0.2% | 100% | $315,000 | View |
American Financing Corporation
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FHA | 1 | 0.2% | 50% | $165,000 | |
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A+5.0 ★Texas Ratio: 3.53% |
Conventional | 1 | 0.2% | 100% | $295,000 | View |
Churchill Mortgage Corporation
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VA | 1 | 0.2% | 100% | $285,000 | |
Planet Home Lending, LLC
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Conventional | 1 | 0.2% | 100% | $185,000 | |
Baxter Credit Union
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Conventional | 1 | 0.2% | 100% | $415,000 | |
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A+5.0 ★Texas Ratio: 2.20% |
Conventional | 1 | 0.2% | 50% | $315,000 | View |
SouthPoint Financial Credit Union
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Conventional | 1 | 0.2% | 100% | $65,000 | |
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A5.0 ★Texas Ratio: 10.53% |
Conventional | 1 | 0.2% | 100% | $295,000 | View |
Zillow Home Loans, LLC
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Conventional | 1 | 0.2% | 100% | $275,000 | |
Mutual of Omaha Mortgage
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FHA | 1 | 0.2% | 33.3% | $145,000 | |
Lower, LLC
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FHA | 1 | 0.2% | 100% | $255,000 | |
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B+4.8 ★Texas Ratio: 16.98% |
VA | 1 | 0.2% | 100% | $175,000 | View |
Figure Lending LLC
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HELOC | 0 +3 HELOCs |
0% | n/a | ||
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A+5.0 ★Texas Ratio: 5.44% |
HELOC | 0 +1 HELOCs |
0% | n/a | View | |
Valon Mortgage
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HELOC | 0 +1 HELOCs |
0% | n/a | ||
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A+5.0 ★Texas Ratio: 4.14% |
HELOC | 0 +1 HELOCs |
0% | n/a | View | |
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A+5.0 ★Texas Ratio: 1.05% |
HELOC | 0 +1 HELOCs |
0% | n/a | View | |
Mission Loans, LLC
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HELOC | 0 +1 HELOCs |
0% | n/a | ||
Better Mortgage Corporation
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HELOC | 0 +1 HELOCs |
0% | 0% | ||
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B4.5 ★Texas Ratio: 20.96% |
HELOC | 0 +1 HELOCs |
0% | n/a | View | |
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A+5.0 ★Texas Ratio: 4.01% |
HELOC | 0 +1 HELOCs |
0% | n/a | View |
Watertown Mortgage Rate Trends
Daily average mortgage rates for South Dakota compared with the national average, updated every evening.
Mortgage Lenders and Mortgage Brokers Near Me in Watertown, South Dakota
Looking for mortgage lenders near me or mortgage brokers near me in Watertown? The list below shows the banks, credit unions and mortgage brokers that closed home loans in Watertown in 2025, with lenders based there listed first.
Types of Mortgage Lenders in Watertown, SD
Use these to narrow the list above. Each category shows how many Watertown, SD lenders fit and what that kind of lender is usually best for.
Who Lends in Watertown, SD
Independent mortgage companies closed 27.4 percent of home loans in Watertown, South Dakota in 2025, banks 68.7 percent and credit unions 3.9 percent. Fairway Independent Mort Corp was the largest mortgage company, First Bank & Trust the largest bank and Black Hills Federal Credit Union the largest credit union. Among lenders headquartered in South Dakota, First Bank & Trust led with 65 loans.
How to Read This List
A high approval share with a small median loan usually points to a lender comfortable with first time and FHA borrowers. A large median loan with conventional and jumbo programs points to a move up and jumbo specialist. The health grade says whether a bank or credit union is financially sound; it says nothing about service, which is what the reviews below are for.
Title or escrow companies usually handle closings in South Dakota. State real estate transfer fee of $0.50 per $500 of value (0.1 percent), paid by the seller (SDCL 43-4-21); no mortgage recording tax.
More South Dakota Mortgage Lender Pages
Frequently Asked Questions About Mortgage Lenders in Watertown, SD
By home loans closed in 2025, First Bank & Trust was the largest mortgage lender in Watertown, South Dakota with 65 loans, about 15.8 percent of the market. Source: Home Mortgage Disclosure Act data for 2025, published by the FFIEC and CFPB.
Among lenders with meaningful volume in Watertown, South Dakota, First Bank & Trust approved the highest share of completed applications in 2025 at 95.6 percent, against a 89 percent average for all lenders. Approval share reflects the applicants a lender attracts as much as its underwriting, so compare it alongside loan programs and median loan size. Source: Home Mortgage Disclosure Act data for 2025, published by the FFIEC and CFPB.
17 lenders closed FHA loans in Watertown, South Dakota in 2025, led by First Bank & Trust with 12. 20 lenders closed VA loans, led by Mortgage Research Center, and 5 closed USDA rural loans. Use the FHA and VA filters above the table to see only those lenders; FHA loans allow 3.5 percent down and lower credit scores, VA loans need no down payment for eligible veterans. Source: Home Mortgage Disclosure Act data for 2025, published by the FFIEC and CFPB.
Yes. 33 banks and 6 credit unions closed home loans in Watertown, South Dakota in 2025, alongside 31 independent mortgage companies and brokers. Banks and credit unions carry a MonitorBankRates health grade. Mortgage companies are not deposit institutions, so they have no health grade; their HMDA figures and borrower reviews stand in. Source: Home Mortgage Disclosure Act data for 2025, published by the FFIEC and CFPB.
Lenders are ranked only by the number of home loans they closed in Watertown, South Dakota during 2025 as reported under the federal Home Mortgage Disclosure Act. No lender pays to be listed or to rank higher, and reviews do not change the order. Counts cover first and second lien loans on one to four unit homes for purchase, refinance and home improvement; home equity lines are counted separately.
Methodology and Sources
Lender rankings use the loan level records that lenders file under the Home Mortgage Disclosure Act, published by the FFIEC and the Consumer Financial Protection Bureau for the 2025 reporting year. Counts include originated first and subordinate lien loans on one to four unit homes in Watertown, South Dakota for purchase, refinance and other purposes; home equity lines of credit are counted separately and reverse mortgages and business purpose loans are excluded. Approval share is originations plus approved but not accepted applications divided by all completed applications (withdrawn and incomplete files are excluded). Lender type comes from the lender's federal regulator and the FFIEC National Information Center. City figures use the Census tracts that make up Watertown. Health grades are MonitorBankRates data and are current as of the date shown. Lenders below the HMDA reporting thresholds do not appear. MonitorBankRates receives no payment for placement on this page. Last updated October 8, 2026.
