Merchants Mortgage & Trust for South Dakota investors
Merchants Mortgage & Trust is a direct DSCR lender with a 660 minimum credit score, 0.75 minimum DSCR, and maximum 80% LTV. The company does not publish minimum/maximum loan size or state-coverage figures in the sources reviewed.
South Dakota context
South Dakota no state income tax. Strong LLC privacy. Rapid City STR (Mount Rushmore).
How Merchants Mortgage & Trust positions in South Dakota
South Dakota is well covered by national DSCR lenders, with Merchants Mortgage & Trust as one option. Where Merchants Mortgage & Trust differentiates: Direct DSCR lender. Where it competes: rates not publicly published against peer programs.
City-level coverage in South Dakota
Merchants Mortgage & Trust provides DSCR coverage across South Dakota metros including Sioux Falls, Rapid City, and South Dakota. Within each metro, submarket variation drives deal-specific underwriting more than lender selection. Merchants Mortgage & Trust program terms apply uniformly across South Dakota metros; the specific deal characteristics determine final pricing.
Terms and pricing
| Loan type | DSCR non-QM institutional |
|---|---|
| Products | rental DSCR |
| Loan size | — - — |
| Rates | Not publicly published |
| Points | Not publicly published |
| Max LTV | 80% of ARV |
| Term lengths | Not publicly published |
| Typical close time | Not publicly published |
| South Dakota property tax | 1.2% |
| South Dakota state income tax | None |
Merchants Mortgage & Trust strengths in South Dakota
- Direct DSCR lender
- 660 minimum credit score
- 0.75 minimum DSCR
- Maximum 80% LTV
Ideal borrower: Investor with a 660+ credit score and at least 0.75 DSCR seeking a direct lender.
FAQ
Likely; verify direct South Dakota coverage. Merchants Mortgage & Trust is based in an undisclosed location and operates in states not publicly disclosed.
Sioux Falls is the top investor market in South Dakota and is generally within Merchants Mortgage & Trust states not publicly disclosed footprint. Sioux Falls property tax follows the South Dakota state rate of 1.2 percent. Merchants Mortgage & Trust typically underwrites Sioux Falls acquisitions at standard rate sheets.
Yes. Rapid City ranks among the larger South Dakota investor metros and sees consistent DSCR loan volume from Merchants Mortgage & Trust. Submarket variation within Rapid City matters for property selection.
Merchants Mortgage & Trust applies the same rate sheet across South Dakota metros. Pricing variation comes from property-specific factors rather than metro location within the same state. Sioux Falls, Rapid City, and South Dakota all qualify for the same Merchants Mortgage & Trust program.
Merchants Mortgage & Trust does not publish a rate sheet. Pricing is quoted per deal and depends on credit, leverage, coverage ratio and experience.
South Dakota no state income tax. Strong LLC privacy. Rapid City STR (Mount Rushmore). Merchants Mortgage & Trust follows standard business-purpose loan structures.
Merchants Mortgage & Trust funds rental DSCR in South Dakota.
South Dakota allows standard DSCR prepay structures; Merchants Mortgage & Trust typically uses 3-5 year step down.
Merchants Mortgage & Trust typical close: Not publicly published.
Bottom line
Merchants Mortgage & Trust in South Dakota works for the right borrower-deal combination. Match the lender to your deal characteristics.
Independent directory listing. DSCR Loan Program is not affiliated with Merchants Mortgage & Trust.