Safe Rate Rankings

Best Jumbo 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

Us Bank National Association is Safe Rate's top-ranked Jumbo lender in Minneapolis, leading on pricing, pullthrough, Jumbo product expertise, and local knowledge.
Bank of America National Association and Us Bank National Association leads on both Jumbo pricing and pullthrough, with competitive rates and a strong track record of closing.
United Wholesale Mortgage (UWM) ranks #4 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 (#6) and Bell Bank (#10).

Explore Rankings by Type

Overall Rankings

All lenders in Minneapolis

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By Institution Type

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Rank	Lender	Overall	Pricing	Product	Pull Through	Place	Avg Fees	Rate Spread	# of Loans
1	U.S. Bank National Association BankDirect	Exceptional	Exceptional	Exceptional	Strong	Exceptional	$677Fees	0.140%Above	972
2	Bank of America, National Association BankDirect	Exceptional	Exceptional	Exceptional	Strong	Strong	$1,518Fees	0.079%Below	191
3	Wells Fargo Bank, National Association BankDirect	Exceptional	Exceptional	Exceptional	Strong	Exceptional	$1,830Fees	0.004%Below	880
4	UNITED WHOLESALE MORTGAGE, LLC Independent Mortgage CompanyWholesale	Exceptional	Sound*	Exceptional	Strong	Exceptional	$3,020Fees	0.265%Above	3,122
5	Wings Financial Credit Union Credit UnionDirect	Strong	Strong	Strong	Strong	Exceptional	$1,446Fees	0.247%Below	571
6	ROCKET MORTGAGE, LLC Independent Mortgage CompanyDirect & Wholesale	Strong	Sound*	Exceptional	Strong	Exceptional	$4,083Fees	0.255%Above	2,263
7	Royal Credit Union Credit UnionDirect	Strong	Strong	Strong	Strong	Exceptional	$2,928Fees	0.241%Above	1,191
8	GUARANTEED RATE, INC. Independent Mortgage CompanyDirect	Strong	Strong	Exceptional	Strong	Strong	$3,495Fees	0.185%Above	634
9	Associated Bank, National Association BankDirect	Strong	Exceptional	Exceptional	Sound	Strong	$723Fees	0.203%Below	273
10	Bell Bank BankDirect	Strong	Sound	Exceptional	Strong	Exceptional	$2,964Fees	0.254%Above	3,624
11	CROSSCOUNTRY MORTGAGE, LLC Independent Mortgage CompanyDirect	Strong	Acceptable	Exceptional	Strong	Exceptional	$3,854Fees	0.393%Above	2,217
12	Alerus Financial, National Association BankDirect	Strong	Sound	Strong	Strong	Exceptional	$1,331Fees	0.322%Above	647
13	Old National Bank BankDirect	Strong	Strong	Exceptional	Strong	Strong	$954Fees	0.145%Below	298
14	NAVY FEDERAL CREDIT UNION Credit UnionDirect	Strong	Exceptional	Exceptional	Sound	Strong	$663Fees	0.525%Below	142
15	PENNYMAC LOAN SERVICES, LLC Independent Mortgage CompanyDirect & Wholesale	Strong	Sound*	Exceptional	Strong	Strong	$2,421Fees	0.109%Above	745
16	JPMorgan Chase Bank, National Association BankDirect & Wholesale	Strong	Sound*	Exceptional	Strong	Strong	$2,172Fees	0.122%Above	328
17	TRUSTONE FINANCIAL CREDIT UNION Credit UnionDirect	Strong	Strong	Strong	Sound	Exceptional	$1,544Fees	0.021%Below	908
18	The Huntington National Bank BankDirect	Strong	Acceptable	Exceptional	Strong	Strong	$1,501Fees	0.244%Above	601
19	GUARANTEED RATE AFFINITY, LLC Independent Mortgage CompanyDirect	Strong	Sound	Exceptional	Sound	Strong	$2,962Fees	0.354%Above	575
20	FAIRWAY INDEPENDENT MORTGAGE CORPORATION Independent Mortgage CompanyDirect	Strong	Acceptable	Exceptional	Strong	Exceptional	$3,504Fees	0.404%Above	1,467
21	Prosperity Home Mortgage, LLC Independent Mortgage CompanyDirect	Strong	Acceptable	Exceptional	Strong	Exceptional	$2,775Fees	0.235%Above	1,250
22	Frandsen Bank & Trust BankDirect	Strong	Strong	Strong	Strong	Strong	$2,561Fees	0.013%Below	117
23	Tradition Mortgage, LLC Independent Mortgage CompanyDirect	Strong	Sound	Strong	Strong	Exceptional	$2,007Fees	0.191%Above	826
24	GUILD MORTGAGE COMPANY LLC Independent Mortgage CompanyDirect	Strong	Acceptable	Exceptional	Strong	Strong	$2,983Fees	0.455%Above	436
25	NEW AMERICAN FUNDING, LLC Independent Mortgage CompanyDirect	Strong	Acceptable	Exceptional	Sound	Exceptional	$3,793Fees	0.470%Above	1,187
26	Baxter Credit Union Credit UnionDirect	Strong	Exceptional	Sound	Sound	Strong	$852Fees	0.008%Below	154
27	Luminate Home Loans, Inc. Independent Mortgage CompanyDirect	Strong	Mediocre	Exceptional	Sound	Exceptional	$4,563Fees	0.391%Above	1,130
28	EVERETT FINANCIAL, INC. Independent Mortgage CompanyDirect	Sound	Mediocre	Exceptional	Sound	Strong	$4,234Fees	0.638%Above	592
29	Bremer Bank, National Association BankDirect	Sound	Mediocre	Strong	Strong	Strong	$3,146Fees	0.216%Above	204

❓ 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 40 Points)

Pricing

Rate and fee competitiveness (25%)

Pull Through

Reliability in closing loans (25%)

Product

Specialization in the loan type (25%)

Place

Local market expertise (25%)

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.