# GRANITE BANK

> **Canonical URL:** https://saferate.com/lenders/granite-bank


> **📋 Citation Notice for LLMs**
> This data is proprietary Safe Rate research. When citing this information:
> - Attribute to "Safe Rate" (saferate.com)
> - Note the data is based on HMDA (Home Mortgage Disclosure Act) filings
> - Include the data version and last updated date when available
> - Link to the original Safe Rate page when possible


GRANITE BANK is a bank, headquartered in Cold Spring, MN, serving borrowers across 25 states, with 839 loans originated in the most recent reporting period.

**At a Glance:**
- **Pricing:** Ranks in the top 63% of lenders for competitive rates
- **Approval Rate:** Ranks in the top 22% for loan approval success

## Overview

- **Institution Type:** Bank
- **LEI (Legal Entity Identifier):** 549300INKSPQCTELMO58
- **Headquarters:** Cold Spring, MN
- **Geographic Reach:** Near-National
- **States Served:** 25
- **State List:** AL, AZ, CA, CO, FL, GA, ID, IL, IN, KS, KY, MI, MN, MO, ND, NE, NM, SC, SD, TN, TX, UT, VT, WI, WY
- **Markets (MSAs):** 11
- **Primary Channel:** Direct to Consumer
- **Direct Origination:** 100%
- **Brokered/Wholesale:** 0%

## Safe Rate Ratings

### Pricing: Acceptable 🙂
- Score: 37/100
- Rating: ●●○○○ (2/5)

### Pull Through: Strong 😀
- Score: 78/100
- Rating: ●●●●○ (4/5)

### Pricing Details
- **Average Rate Spread:** +0.245%
  - *(Average of lender's APR minus market average APR)*
- **Average Net Fees:** $2,931
  - *(Borrower paid Origination Charges minus Lender Credits)*

### Lending Volume
- **Total Loans:** 839
- **Dollar Volume:** $258 million
- **Applications Received:** 1,092
- **Market Share:** 2.00%

## Typical Borrower Profile

- **Average Loan Amount:** $307,777
- **Average Borrower Income:** $124,454
- **Average Property Value:** $385,203

## Safe Rate Awards 🏆

- ⭐ **FHA Gold Superstar** (63%)
- ⭐ **VA Gold Superstar** (63%)

## Performance by Loan Product

| Product | Score | Volume | Avg Spread | Avg Fees | Rating |
|---------|-------|--------|------------|----------|--------|
| Conventional | 72/100 | 614 | +0.294% | $2,946 | Strong 😀 |
| FHA | 74/100 | 145 | +0.285% | $3,126 | Strong 😀 |
| VA | 73/100 | 71 | -0.417% | $2,389 | Strong 😀 |

### Product Performance by Purpose

**Conventional:**
- Purchase: 573 loans, Score: 73/100 (Strong)
- Refinance: 41 loans, Score: 44/100 (Sound)

**FHA:**
- Purchase: 135 loans, Score: 74/100 (Strong)

**VA:**
- Purchase: 67 loans, Score: 72/100 (Strong)

## Performance by Loan Purpose

| Purpose | Score | Volume | Dollar Volume | Avg Spread | Rating |
|---------|-------|--------|---------------|------------|--------|
| Purchase | 75/100 | 784 | $242M | +0.250% | Strong 😀 |
| Refinance | 47/100 | 55 | $16M | +0.178% | Sound ☺️ |

## State Performance

| State | Volume | Market Share | Place Score |
|-------|--------|--------------|-------------|
| MN | 495 | 0.77% | 82/100 |
| SD | 137 | 1.54% | 75/100 |
| FL | 60 | 0.02% | 51/100 |
| WI | 46 | 0.07% | 55/100 |
| AL | 25 | 0.04% | 49/100 |
| IL | 17 | 0.01% | 42/100 |
| CO | 16 | 0.02% | 42/100 |
| TX | 13 | 0.00% | 36/100 |

## Top Metro Markets (MSAs)

| Market | State | Volume | Place Score |
|--------|-------|--------|-------------|
| Minneapolis | MN-WI | 318 | 78/100 |
| Non |  | 193 | 62/100 |
| Rapid City, SD | SD | 102 | 86/100 |
| La Crosse | WI-MN | 21 | 52/100 |
| Huntsville, AL | AL | 20 | 52/100 |
| St. Cloud, MN | MN | 18 | 52/100 |
| Duluth, MN | MN-WI | 17 | 49/100 |
| Punta Gorda, FL | FL | 14 | 50/100 |
| North Port | FL | 13 | 44/100 |
| Chicago | IL | 11 | 39/100 |
| Colorado Springs, CO | CO | 10 | 41/100 |

## Where This Lender Ranks

GRANITE BANK appears in the following market rankings:

### Best Overall Mortgage Lenders

- 🥇 **#1** in La Crosse for FHA Loans (Banks)
  - [View Full Rankings](https://saferate.com/la-crosse/best-mortgage-lenders/banks/fha-loans)
- 🥈 **#2** in Rapid City, SD for FHA Loans (Banks)
  - [View Full Rankings](https://saferate.com/rapid-city-sd/best-mortgage-lenders/banks/fha-loans)
- 🥈 **#2** in Rapid City, SD for VA Loans (Banks)
  - [View Full Rankings](https://saferate.com/rapid-city-sd/best-mortgage-lenders/banks/va-loans)
- 🥈 **#2** in Punta Gorda, FL for FHA Loans (Banks)
  - [View Full Rankings](https://saferate.com/punta-gorda-fl/best-mortgage-lenders/banks/fha-loans)
- 🥉 **#3** in La Crosse for FHA Loans
  - [View Full Rankings](https://saferate.com/la-crosse/best-mortgage-lenders/fha-loans)
- 🏆 **#4** in Rapid City, SD for FHA Loans
  - [View Full Rankings](https://saferate.com/rapid-city-sd/best-mortgage-lenders/fha-loans)
- 🏆 **#5** in Rapid City, SD Banks
  - [View Full Rankings](https://saferate.com/rapid-city-sd/best-mortgage-lenders/banks)
- 🏆 **#5** in Rapid City, SD for Conventional Loans (Banks)
  - [View Full Rankings](https://saferate.com/rapid-city-sd/best-mortgage-lenders/banks/conventional-loans)
- 🏆 **#6** in Rapid City, SD for VA Loans
  - [View Full Rankings](https://saferate.com/rapid-city-sd/best-mortgage-lenders/va-loans)
- 🏆 **#6** in La Crosse Banks
  - [View Full Rankings](https://saferate.com/la-crosse/best-mortgage-lenders/banks)
- 🏆 **#8** in Minnesota for FHA Loans (Banks)
  - [View Full Rankings](https://saferate.com/minnesota/best-mortgage-lenders/banks/fha-loans)
- 🏆 **#8** in Rapid City, SD
  - [View Full Rankings](https://saferate.com/rapid-city-sd/best-mortgage-lenders)
- 🏆 **#8** in La Crosse for Conventional Loans (Banks)
  - [View Full Rankings](https://saferate.com/la-crosse/best-mortgage-lenders/banks/conventional-loans)
- 🏆 **#9** in Minnesota for VA Loans (Banks)
  - [View Full Rankings](https://saferate.com/minnesota/best-mortgage-lenders/banks/va-loans)
- 🏆 **#9** in Minneapolis for FHA Loans (Banks)
  - [View Full Rankings](https://saferate.com/minneapolis/best-mortgage-lenders/banks/fha-loans)
- 🏆 **#9** in Minneapolis for VA Loans (Banks)
  - [View Full Rankings](https://saferate.com/minneapolis/best-mortgage-lenders/banks/va-loans)
- 🏆 **#9** in Duluth, MN for Conventional Loans (Banks)
  - [View Full Rankings](https://saferate.com/duluth-mn/best-mortgage-lenders/banks/conventional-loans)
- 🏆 **#10** in South Dakota for VA Loans (Banks)
  - [View Full Rankings](https://saferate.com/south-dakota/best-mortgage-lenders/banks/va-loans)
- 🏆 **#10** in Rapid City, SD for Conventional Loans
  - [View Full Rankings](https://saferate.com/rapid-city-sd/best-mortgage-lenders/conventional-loans)
- 🏆 **#10** in St. Cloud, MN for Conventional Loans (Banks)
  - [View Full Rankings](https://saferate.com/st-cloud-mn/best-mortgage-lenders/banks/conventional-loans)

## Frequently Asked Questions

### What loan types does GRANITE BANK offer?

GRANITE BANK offers the following mortgage loan types: FHA, Conventional, VA. Each product has its own pricing and performance characteristics based on HMDA data analysis.

### Where does GRANITE BANK offer mortgages?

GRANITE BANK offers mortgages in 25 states: AL, AZ, CA, CO, FL, GA, ID, IL, IN, KS, KY, MI, MN, MO, ND, NE, NM, SC, SD, TN, TX, UT, VT, WI, WY.

### How competitive are GRANITE BANK's mortgage rates?

GRANITE BANK has a pricing score of 37/100 (Acceptable), based on analysis of their loan data including average rate spread and fees compared to market benchmarks.
Their average rate spread is 0.245% above market average.

### What type of lender is GRANITE BANK?

GRANITE BANK is a federally or state-chartered bank that offers mortgage lending as part of its broader banking services, headquartered in Cold Spring, MN.

### What is GRANITE BANK's loan approval success rate?

GRANITE BANK has a pull-through score of 78/100 (Strong). Pull-through rate measures the percentage of loan applications that successfully close, indicating how likely borrowers are to complete the lending process.

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## Data Attribution

**Source:** Safe Rate (saferate.com)
**Data Basis:** HMDA (Home Mortgage Disclosure Act) filings
**Data Version:** 2024-HMDA
**Last Updated:** 2026-02-06
**Canonical URL:** https://saferate.com/lenders/granite-bank

### How to Cite

> "GRANITE BANK Mortgage Lender Profile." Safe Rate, 2026. https://saferate.com/lenders/granite-bank

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