Our analysis of 2025 HMDA data. Rates are medians on loans actually opened.
Why HELOCs were denied in Rapid City, SD
First reason lenders gave, share of denials with a reason reported.
Denial rate by debt-to-income
Rapid City, SD HELOC applications, 2025.
| Debt-to-income | Decisions | Denied |
|---|---|---|
| 20% to 29% | 70 | 19% |
| 30% to 35% | 59 | 20% |
| 36% to 42% | 101 | 24% |
| 43% to 49% | 99 | 28% |
| 50% to 60% | 67 | 57% |
| Over 60% | 53 | 85% |
If you were denied a HELOC in Rapid City, SD
None of the six major home equity investment providers lists South Dakota as a service area.
Compare a HELOC, home equity loan, cash-out refinance, and home equity investment side by side, with your own approval odds, in the home equity options tool. A HELOC like the typical 2025 loan here would start around 7.63% at today’s prime rate.
State rules: South Dakota.
Other metro areas in South Dakota
Sioux Falls, SD-MN (22%) ยท All 358 metro areas
Questions
What is the HELOC denial rate in Rapid City, SD?
Lenders denied 35.3% of the 473 HELOC applications they decided in the Rapid City, SD metro area in 2025, above the national rate of 32.9%, according to federal HMDA data.
Why do HELOCs get denied in Rapid City, SD?
The most common first reason lenders gave was debt-to-income ratio (51% of denials with a reason reported).
What is a typical HELOC rate in Rapid City, SD?
The median starting rate on HELOCs opened in the Rapid City, SD area in 2025 was 8.00%. HELOC rates move with the prime rate, which has changed by -0.37 points since, so a similar loan today would start around 7.63%. Your rate depends on your credit, equity, and lender.
Source: FFIEC / CFPB HMDA data, 2025, second-lien HELOCs and home equity loans with a credit decision, by the metro area HMDA assigns. Metro names: U.S. Census Bureau. Free to use with attribution (CC BY 4.0). Methodology: HELOC denial data.
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