Safe Rate Rankings

Best Mortgage Lenders in Minneapolis

Updated June 4, 2026

Rankings are a starting point, not a verdict. Safe Rate recommends speaking with 2-3 lenders to find the right fit for your home loan!

⚖️ The 4 PsRankings are calculated based on observed lender differences on closed loans across Pricing, Pull-through, Product, and Place.

🛡️ No Pay to PlayLenders cannot buy their way to the top. Rankings are 100% earned.

📊 HMDA 2024Built using publicly available originated loan data from the federal government.

🎯 Peer BenchmarkedPerformance is normalized and benchmarked against peer institutions.

Market

Total Lenders202

Total Loans44,572

Median Rate Spread0.23%

Minneapolis Market Insights

Royal Credit Union is Safe Rate's top-ranked lender in Minneapolis, leading the composite scorecard across pricing, pullthrough, products, and local expertise.
Top-ranked by institution type in Minneapolis: Bank: Associated Bank National Association (#2). Credit union: Royal Credit Union (#1). Mortgage company: United Wholesale Mortgage (#5).
There is often a pricing vs. pullthrough tradeoff in mortgage lending. In Minneapolis, Associated Bank National Association and Megastar Financial scores highest on pricing while United Wholesale Mortgage and Royal Credit Union leads on likelihood to close. That is why we encourage speaking with multiple lenders.
United Wholesale Mortgage (UWM) ranks #5 in Minneapolis, serving as the platform behind many independent local brokers who live and work in the community. A local broker knows the neighborhoods, the local market, and is personally invested in your outcome. Real estate agents often prefer referring local brokers for their accessibility and responsiveness, qualities that matter when a deal is moving fast. Pricing and experience can vary by broker.
Popular names in Minneapolis: Rocket Mortgage (#14) and Bell Bank (#8).

Explore Rankings by Type

By Loan Product

Lenders often score differently for different loan products. Get tailored rankings by selecting your product type.

FHA Loans Conventional Loans VA Loans Jumbo Loans USDA Loans

By Institution Type

Some consumers only want to work with a credit union, bank, or focused mortgage company. See our rankings here!

Banks Credit Unions Mortgage Companies

Shopping for a mortgage? Click the heart icon to save lenders to My Home and make comparison painless.

Rank	Lender	Overall	Pricing	Pull Through	Place	Avg Fees	Rate Spread	# of Loans
1	Royal Credit Union Credit UnionDirect	Exceptional	Strong	Exceptional	Exceptional	$2,928Fees	0.241%Above	1,191
2	Associated Bank, National Association BankDirect	Strong	Exceptional	Strong	Strong	$723Fees	0.203%Below	273
3	U.S. Bank National Association BankDirect	Strong	Strong	Strong	Exceptional	$677Fees	0.140%Above	972
4	Old National Bank BankDirect	Strong	Exceptional	Strong	Strong	$954Fees	0.145%Below	298
5	UNITED WHOLESALE MORTGAGE, LLC Independent Mortgage CompanyWholesale	Strong	Sound*	Exceptional	Exceptional	$3,020Fees	0.265%Above	3,122
6	Wings Financial Credit Union Credit UnionDirect	Strong	Strong	Strong	Exceptional	$1,446Fees	0.247%Below	571
7	MEGASTAR FINANCIAL CORP. Independent Mortgage CompanyDirect	Strong	Exceptional	Strong	Strong	$6,765Credit	0.340%Above	172
8	Bell Bank BankDirect	Strong	Acceptable	Exceptional	Exceptional	$2,964Fees	0.254%Above	3,624
9	TRUSTONE FINANCIAL CREDIT UNION Credit UnionDirect	Strong	Strong	Sound	Exceptional	$1,544Fees	0.021%Below	908
10	Alerus Financial, National Association BankDirect	Strong	Sound	Strong	Exceptional	$1,331Fees	0.322%Above	647
11	The Huntington National Bank BankDirect	Strong	Strong	Strong	Strong	$1,501Fees	0.244%Above	601
12	Bank of America, National Association BankDirect	Strong	Strong	Strong	Strong	$1,518Fees	0.079%Below	191
13	NAVY FEDERAL CREDIT UNION Credit UnionDirect	Strong	Exceptional	Sound	Strong	$663Fees	0.525%Below	142
14	ROCKET MORTGAGE, LLC Independent Mortgage CompanyDirect & Wholesale	Strong	Acceptable*	Exceptional	Exceptional	$4,083Fees	0.255%Above	2,263
15	Spire Credit Union Credit UnionDirect	Strong	Strong	Sound	Exceptional	$1,102Fees	0.037%Above	424
16	Wells Fargo Bank, National Association BankDirect	Strong	Strong	Sound	Exceptional	$1,830Fees	0.004%Below	880
17	Tradition Mortgage, LLC Independent Mortgage CompanyDirect	Strong	Sound	Strong	Exceptional	$2,007Fees	0.191%Above	826
18	Baxter Credit Union Credit UnionDirect	Strong	Exceptional	Sound	Strong	$852Fees	0.008%Below	154
19	Prosperity Home Mortgage, LLC Independent Mortgage CompanyDirect	Strong	Acceptable	Strong	Exceptional	$2,775Fees	0.235%Above	1,250
20	Merchants Bank, National Association BankDirect & Wholesale	Strong	Strong*	Strong	Strong	$1,923Fees	0.099%Below	94
21	PENNYMAC LOAN SERVICES, LLC Independent Mortgage CompanyDirect & Wholesale	Strong	Sound*	Strong	Strong	$2,421Fees	0.109%Above	745
22	LOANDEPOT.COM, LLC Independent Mortgage CompanyDirect & Wholesale	Strong	Sound*	Strong	Strong	$2,799Fees	0.175%Above	620
23	PROVIDENT FUNDING ASSOCIATES, L.P. Independent Mortgage CompanyWholesale	Strong	Exceptional*	Sound	Strong	$788Fees	0.082%Below	119
24	FAIRWAY INDEPENDENT MORTGAGE CORPORATION Independent Mortgage CompanyDirect	Strong	Acceptable	Exceptional	Exceptional	$3,504Fees	0.404%Above	1,467
25	SWBC MORTGAGE CORPORATION Independent Mortgage CompanyDirect	Strong	Acceptable	Exceptional	Strong	$3,690Fees	0.449%Above	375
26	TOPLINE FINANCIAL CREDIT UNION Credit UnionDirect	Strong	Strong	Sound	Strong	$3,077Fees	0.668%Below	131
27	M/I FINANCIAL, LLC Independent Mortgage CompanyDirect	Strong	Acceptable	Strong	Strong	$5,775Fees	0.222%Below	586
28	GRANITE BANK BankDirect	Strong	Acceptable	Strong	Strong	$3,212Fees	0.313%Above	318
29	Servion, Inc. Independent Mortgage CompanyDirect & Wholesale	Strong	Sound*	Strong	Strong	$2,251Fees	0.158%Above	161
30	MOVEMENT MORTGAGE, LLC Independent Mortgage CompanyDirect	Strong	Acceptable	Exceptional	Strong	$2,711Fees	0.444%Above	440
31	JPMorgan Chase Bank, National Association BankDirect & Wholesale	Strong	Sound*	Strong	Strong	$2,172Fees	0.122%Above	328
32	FREEDOM MORTGAGE CORPORATION Independent Mortgage CompanyDirect & Wholesale	Strong	Sound*	Strong	Strong	$2,879Fees	0.281%Above	274
33	GUARANTEED RATE, INC. Independent Mortgage CompanyDirect	Strong	Sound	Strong	Strong	$3,495Fees	0.185%Above	634
34	CMG MORTGAGE, INC. Independent Mortgage CompanyDirect	Strong	Acceptable	Exceptional	Strong	$3,291Fees	0.272%Above	431
35	Flagstar Bank, N.A. BankDirect & Wholesale	Strong	Acceptable*	Strong	Strong	$2,303Fees	0.304%Above	325
36	CROSSCOUNTRY MORTGAGE, LLC Independent Mortgage CompanyDirect	Strong	Acceptable	Strong	Exceptional	$3,854Fees	0.393%Above	2,217
37	BAY EQUITY LLC Independent Mortgage CompanyDirect	Strong	Sound	Strong	Strong	$3,486Fees	0.301%Above	427
38	CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP Independent Mortgage CompanyDirect & Wholesale	Strong	Acceptable*	Exceptional	Strong	$4,719Fees	0.517%Above	278
39	Frandsen Bank & Trust BankDirect	Strong	Sound	Strong	Strong	$2,561Fees	0.013%Below	117
40	GUILD MORTGAGE COMPANY LLC Independent Mortgage CompanyDirect	Strong	Acceptable	Exceptional	Strong	$2,983Fees	0.455%Above	436
41	AFFINITY PLUS Credit UnionDirect	Strong	Sound	Sound	Strong	$2,556Fees	0.054%Below	300
42	PLAZA HOME MORTGAGE, INC. Independent Mortgage CompanyWholesale	Sound	Acceptable*	Strong	Strong	$2,459Fees	0.156%Above	335
43	Cambria Financial Group, LLC Independent Mortgage CompanyDirect	Sound	Acceptable	Strong	Strong	$2,513Fees	0.213%Above	251
44	Bremer Bank, National Association BankDirect	Sound	Sound	Strong	Strong	$3,146Fees	0.216%Above	204
45	MUTUAL OF OMAHA MORTGAGE, INC. Independent Mortgage CompanyDirect	Sound	Sound	Sound	Strong	$1,539Fees	0.087%Above	167
46	Summit Mortgage Corporation Independent Mortgage CompanyDirect	Sound	Acceptable	Strong	Exceptional	$3,358Fees	0.344%Above	468
47	Mortgage Research Center, LLC Independent Mortgage CompanyDirect	Sound	Acceptable	Strong	Strong	$1,701Fees	0.254%Above	362
48	Barrington Bank & Trust Company, National Association BankDirect	Sound	Acceptable	Strong	Strong	$2,682Fees	0.362%Above	223
49	PRIMELENDING, A PLAINSCAPITAL COMPANY Independent Mortgage CompanyDirect	Sound	Acceptable	Exceptional	Strong	$3,388Fees	0.299%Above	198
50	NexBank BankWholesale	Sound	Sound*	Strong	Strong	$1,432Fees	0.192%Above	188

❓ Frequently Asked Questions

How are mortgage lenders ranked in Minneapolis?+

Safe Rate ranks lenders using the 4 Ps framework, derived entirely from HMDA (Home Mortgage Disclosure Act) data: Pricing (how competitively a lender prices loans vs. the market benchmark), Pullthrough (how effectively a lender closes applications), Place (the lender's depth of expertise in Minneapolis), and Product (performance on specific loan types). Each lender receives a composite Safe Rate Score from 0–100. No lender pays to appear in the rankings.

What is the Safe Rate Score?+

The Safe Rate Score is a 0–100 composite index measuring a lender's performance across Pricing, Pullthrough, Place, and Product. Scores of 80 or above earn Champion status; scores of 60–79 earn Superstar status. All scores are calculated from verified HMDA data — no lender can pay to improve their position.

How many mortgage lenders are active in Minneapolis?+

Based on 2024 HMDA data, 202 lenders originated a combined 44,572 loans in Minneapolis. Safe Rate's rankings evaluate all of them — not just a curated shortlist.

What does the rate spread tell me about a lender in Minneapolis?+

Rate spread measures how much above the Average Prime Offer Rate (APOR) a lender charges. The median rate spread in Minneapolis is 0.23%. Lenders in Safe Rate's top rankings consistently price below this median, meaning borrowers typically pay less interest over the life of their loan.

What is HMDA data and why does Safe Rate use it?+

HMDA (Home Mortgage Disclosure Act) is a federal law requiring every mortgage lender to disclose every loan application annually — including rates, amounts, approvals, and denials. Safe Rate uses HMDA because it is government-verified, covers all lenders equally, and cannot be gamed. It is the most objective foundation available for lender rankings.

Does Safe Rate accept payment from lenders to appear in rankings?+

No. Safe Rate rankings are strictly data-driven. No lender can pay to appear in or improve their position in Safe Rate's rankings. The only factor that determines a lender's rank is their verified HMDA performance data.

What is the difference between a bank, credit union, and independent mortgage company?+

Banks and credit unions offer mortgages alongside checking, savings, and other products. Independent Mortgage Companies (IMCs) focus exclusively on originating loans and often offer more product variety and speed. In Minneapolis's rankings, all three institution types are evaluated on the same HMDA performance metrics.

How We Rank Lenders

Our rankings use a weighted average of scores across equally-weighted categories to evaluate lenders on a linear, raw performance scale.

Our Point System (Max 30 Points)

Pricing

Rate and fee competitiveness (33%)

Pull Through

Reliability in closing loans (33%)

Place

Local market expertise (33%)

Data Integrity & Updates

Data is updated quarterly based on the latest HMDA filings and proprietary SafeRate analysis. All metrics are calculated using standardized methodologies to ensure fair comparison across lenders.

⚖️ Licensing & Disclosures

Lender rankings and market statistics are created by Dylan Hall, licensed mortgage loan officer (NMLS #1658740). Safe Rate is a mortgage technology platform; mortgage lending services are provided by PartnerOwn LLC dba Safe Rate Mortgage, a licensed mortgage broker and lender (NMLS #1590949). Safe Rate Mortgage is a lending partner of some of the lenders ranked on this page, and Safe Rate Inc. has software or service customers on this list; however, all rankings are calculated using objective, public Home Mortgage Disclosure Act (HMDA) datasets, completely independent of any corporate partnerships, client relationships, or compensation.