Safe Rate Rankings

Best Conventional Mortgage Bank Lenders in Minneapolis

Updated May 25, 2026
⚖️ 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.
Total Lenders202
Total Loans44,572
Median Rate Spread0.23%

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RankLenderOverallPricingProductPull ThroughPlaceAvg FeesRate Spread# of LoansAction
1
Old National BankBank
Exceptional
Exceptional
Exceptional
Strong
Strong
$954Fees
0.145%Below
298
2
Associated Bank, National AssociationBank
Exceptional
Exceptional
Exceptional
Strong
Strong
$723Fees
0.203%Below
273
3
U.S. Bank National AssociationBank
Exceptional
Strong
Exceptional
Strong
Exceptional
$677Fees
0.140%Above
972
4
Wells Fargo Bank, National AssociationBank
Exceptional
Strong
Exceptional
Sound
Exceptional
$1,830Fees
0.004%Below
880
5
The Huntington National BankBank
Exceptional
Strong
Exceptional
Strong
Strong
$1,501Fees
0.244%Above
601
6
Bank of America, National AssociationBank
Exceptional
Strong
Exceptional
Strong
Strong
$1,518Fees
0.079%Below
191
7
Merchants Bank, National AssociationBank
Exceptional
Strong
Strong
Strong
Strong
$1,923Fees
0.099%Below
94
8
Alerus Financial, National AssociationBank
Strong
Sound
Strong
Strong
Exceptional
$1,331Fees
0.322%Above
647
9
JPMorgan Chase Bank, National AssociationBank
Strong
Sound
Exceptional
Strong
Strong
$2,172Fees
0.122%Above
328
10
Barrington Bank & Trust Company, National AssociationBank
Strong
Sound
Exceptional
Strong
Strong
$2,682Fees
0.362%Above
223
11
Bell BankBank
Strong
Acceptable
Exceptional
Strong
Exceptional
$2,964Fees
0.254%Above
3,624
12
Bremer Bank, National AssociationBank
Strong
Sound
Strong
Strong
Strong
$3,146Fees
0.216%Above
204
13
NexBankBank
Strong
Sound
Strong
Strong
Strong
$1,432Fees
0.192%Above
188
14
Frandsen Bank & TrustBank
Strong
Sound
Strong
Strong
Strong
$2,561Fees
0.013%Below
117
15
Flagstar Bank, N.A.Bank
Strong
Acceptable
Exceptional
Strong
Strong
$2,303Fees
0.304%Above
325
16
Plains Commerce BankBank
Strong
Acceptable
Exceptional
Strong
Strong
$2,553Fees
0.291%Above
221
17
GRANITE BANKBank
Strong
Acceptable
Strong
Strong
Strong
$3,212Fees
0.313%Above
318
18
USAA Federal Savings BankBank
Strong
Sound
Strong
Acceptable
Strong
$2,153Fees
0.164%Below
126
19
Ixonia BankBank
Strong
Mediocre
Exceptional
Strong
Strong
$2,791Fees
0.712%Above
120

How We Rank Lenders

Our rankings use geometric mean scoring across equally-weighted categories. This rewards lenders who perform consistently well across all metrics, not just excel in one area.

Our Point System (Max 40 Points)

10
Pricing
Rate and fee competitiveness (25%)
10
Pull Through
Reliability in closing loans (25%)
10
Product
Specialization in the loan type (25%)
10
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.