Safe Rate Rankings

Best Mortgage Lenders in Minnesota

Updated February 6, 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 Lenders236
Total Loans63,948
Median Rate Spread0.25%

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

RankLenderOverallPricingPull ThroughPlaceAvg FeesRate Spread# of LoansAction
1
IOWA BANKERS MORTGAGE CORPORATIONIndependent Mortgage Company
Exceptional
Exceptional
Exceptional
Strong
$2,324Fees
0.030%Above
159
2
Royal Credit UnionCredit Union
Exceptional
Strong
Exceptional
Exceptional
$3,081Fees
0.268%Above
1,205
3
MAGNIFI FINANCIAL CREDIT UNIONCredit Union
Exceptional
Strong
Exceptional
Exceptional
$832Fees
0.068%Below
439
4
Old National BankBank
Exceptional
Exceptional
Strong
Strong
$977Fees
0.128%Below
331
5
Associated Bank, National AssociationBank
Exceptional
Exceptional
Strong
Strong
$821Fees
0.198%Below
219
6
MEGASTAR FINANCIAL CORP.Independent Mortgage Company
Exceptional
Exceptional
Strong
Strong
$6,798Credit
0.338%Above
189
7
U.S. Bank National AssociationBank
Exceptional
Strong
Strong
Exceptional
$873Fees
0.173%Above
1,505
8
Wings Financial Credit UnionCredit Union
Exceptional
Strong
Strong
Exceptional
$1,424Fees
0.244%Below
677
9
Merchants Bank, National AssociationBank
Exceptional
Strong
Strong
Exceptional
$2,010Fees
0.053%Below
538
10
Gate City BankBank
Exceptional
Strong
Exceptional
Strong
$2,700Fees
0.206%Below
321
11
NAVY FEDERAL CREDIT UNIONCredit Union
Exceptional
Exceptional
Sound
Strong
$712Fees
0.499%Below
213
12
Baxter Credit UnionCredit Union
Exceptional
Exceptional
Sound
Strong
$924Fees
0.007%Below
173
13
First Federal BankBank
Exceptional
Exceptional
Sound
Strong
$2,160Fees
0.269%Below
152
14
UNITED WHOLESALE MORTGAGE, LLCIndependent Mortgage Company
Strong
Sound
Exceptional
Exceptional
$3,056Fees
0.293%Above
4,740
15
Wells Fargo Bank, National AssociationBank
Strong
Strong
Sound
Exceptional
$2,002Fees
0.060%Above
1,187
16
TRUSTONE FINANCIAL CREDIT UNIONCredit Union
Strong
Strong
Sound
Exceptional
$1,571Fees
0.014%Below
1,006
17
The Huntington National BankBank
Strong
Strong
Strong
Strong
$1,536Fees
0.269%Above
680
18
Spire Credit UnionCredit Union
Strong
Strong
Sound
Exceptional
$1,064Fees
0.048%Above
527
19
Think Mutual BankBank
Strong
Strong
Strong
Strong
$1,935Fees
0.098%Below
333
20
Bank of America, National AssociationBank
Strong
Strong
Strong
Strong
$1,524Fees
0.023%Below
210
21
Liberty Bank MinnesotaBank
Strong
Strong
Strong
Strong
$1,085Fees
0.141%Above
187
22
Alerus Financial, National AssociationBank
Strong
Sound
Strong
Exceptional
$1,608Fees
0.259%Above
958
23
Tradition Mortgage, LLCIndependent Mortgage Company
Strong
Sound
Strong
Exceptional
$2,101Fees
0.205%Above
925
24
Bremer Bank, National AssociationBank
Strong
Sound
Strong
Exceptional
$2,946Fees
0.260%Above
716
25
Servion, Inc.Independent Mortgage Company
Strong
Sound
Strong
Exceptional
$2,269Fees
0.253%Above
512
26
Frandsen Bank & TrustBank
Strong
Sound
Strong
Exceptional
$2,442Fees
0.065%Above
418
27
ALTRA Federal Credit UnionCredit Union
Strong
Sound
Exceptional
Strong
$1,721Fees
0.225%Above
246
28
Minnwest BankBank
Strong
Strong
Sound
Strong
$2,440Fees
0.241%Below
189
29
TOPLINE FINANCIAL CREDIT UNIONCredit Union
Strong
Strong
Sound
Strong
$3,138Fees
0.631%Below
155
30
ARK-LA-TEX FINANCIAL SERVICES, LLC.Independent Mortgage Company
Strong
Sound
Exceptional
Strong
$2,571Fees
0.291%Above
153
31
Bell BankBank
Strong
Acceptable
Exceptional
Exceptional
$2,925Fees
0.253%Above
4,389
32
ROCKET MORTGAGE, LLCIndependent Mortgage Company
Strong
Acceptable
Exceptional
Exceptional
$3,910Fees
0.325%Above
3,524
33
FAIRWAY INDEPENDENT MORTGAGE CORPORATIONIndependent Mortgage Company
Strong
Acceptable
Exceptional
Exceptional
$3,456Fees
0.465%Above
2,146
34
GUARANTEED RATE, INC.Independent Mortgage Company
Strong
Sound
Strong
Strong
$3,257Fees
0.224%Above
977
35
LOANDEPOT.COM, LLCIndependent Mortgage Company
Strong
Sound
Strong
Strong
$2,963Fees
0.265%Above
948
36
PENNYMAC LOAN SERVICES, LLCIndependent Mortgage Company
Strong
Sound
Strong
Strong
$2,482Fees
0.106%Above
936
37
AFFINITY PLUSCredit Union
Strong
Sound
Sound
Exceptional
$2,250Fees
0.011%Below
552
38
BAY EQUITY LLCIndependent Mortgage Company
Strong
Sound
Strong
Strong
$3,359Fees
0.312%Above
460
39
FREEDOM MORTGAGE CORPORATIONIndependent Mortgage Company
Strong
Sound
Strong
Strong
$2,696Fees
0.391%Above
433
40
JPMorgan Chase Bank, National AssociationBank
Strong
Sound
Strong
Strong
$2,267Fees
0.142%Above
396
41
Deerwood BankBank
Strong
Sound
Strong
Strong
$2,656Fees
0.024%Below
247
42
NexBankBank
Strong
Sound
Strong
Strong
$1,536Fees
0.213%Above
222
43
CORTRUST MORTGAGE, INC.Independent Mortgage Company
Strong
Sound
Strong
Strong
$3,033Fees
0.110%Below
171
44
First Western Bank & TrustBank
Strong
Sound
Strong
Strong
$3,078Fees
0.108%Below
142
45
CROSSCOUNTRY MORTGAGE, LLCIndependent Mortgage Company
Strong
Acceptable
Strong
Exceptional
$3,865Fees
0.409%Above
2,661
46
Prosperity Home Mortgage, LLCIndependent Mortgage Company
Strong
Acceptable
Strong
Exceptional
$2,669Fees
0.249%Above
1,495
47
Summit Mortgage CorporationIndependent Mortgage Company
Strong
Acceptable
Strong
Exceptional
$3,170Fees
0.354%Above
639
48
GRANITE BANKBank
Strong
Acceptable
Strong
Exceptional
$3,195Fees
0.318%Above
495
49
North Shore Bank of CommerceBank
Strong
Acceptable
Strong
Exceptional
$3,437Fees
0.191%Above
477
50
Cambria Financial Group, LLCIndependent Mortgage Company
Strong
Acceptable
Strong
Exceptional
$2,676Fees
0.279%Above
360

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 30 Points)

10
Pricing
Rate and fee competitiveness (33%)
10
Pull Through
Reliability in closing loans (33%)
10
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.