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Safe Rate's TrueRank Guarantee
Our rankings are earned, not bought. We analyze 2,347 lenders using federal HMDA data—no pay-to-play, no cherry-picking. You see the best options based on performance metrics, not advertising dollars.
Best Bank Mortgage Lenders in Minnesota
Updated February 6, 2026
Market Overview
28
Total Lenders
17,822
Total Loans
0.11%
Median Rate Spread
| Rank | Lender | Overall | Pricing | Pull Through | Place | Avg Fees | Spread | Volume | Action |
|---|---|---|---|---|---|---|---|---|---|
1 | Old National Bank | Exceptional | Exceptional | Strong | Strong | $977 | -0.128% | 331 | |
2 | Associated Bank, National Association | Exceptional | Exceptional | Strong | Strong | $821 | -0.198% | 219 | |
3 | U.S. Bank National Association | Exceptional | Strong | Strong | Exceptional | $873 | +0.173% | 1,505 | |
4 | Merchants Bank, National Association | Exceptional | Strong | Strong | Exceptional | $2,010 | -0.053% | 538 | |
5 | Gate City Bank | Exceptional | Strong | Exceptional | Strong | $2,700 | -0.206% | 321 | |
6 | First Federal Bank | Exceptional | Exceptional | Sound | Strong | $2,160 | -0.269% | 152 | |
7 | Wells Fargo Bank, National Association | Strong | Strong | Sound | Exceptional | $2,002 | +0.060% | 1,187 | |
8 | The Huntington National Bank | Strong | Strong | Strong | Strong | $1,536 | +0.269% | 680 | |
9 | Think Mutual Bank | Strong | Strong | Strong | Strong | $1,935 | -0.098% | 333 | |
10 | Bank of America, National Association | Strong | Strong | Strong | Strong | $1,524 | -0.023% | 210 | |
11 | Liberty Bank Minnesota | Strong | Strong | Strong | Strong | $1,085 | +0.141% | 187 | |
12 | Alerus Financial, National Association | Strong | Sound | Strong | Exceptional | $1,608 | +0.259% | 958 | |
13 | Bremer Bank, National Association | Strong | Sound | Strong | Exceptional | $2,946 | +0.260% | 716 | |
14 | Frandsen Bank & Trust | Strong | Sound | Strong | Exceptional | $2,442 | +0.065% | 418 | |
15 | Minnwest Bank | Strong | Strong | Sound | Strong | $2,440 | -0.241% | 189 | |
16 | Bell Bank | Strong | Acceptable | Exceptional | Exceptional | $2,925 | +0.253% | 4,389 | |
17 | JPMorgan Chase Bank, National Association | Strong | Sound | Strong | Strong | $2,267 | +0.142% | 396 | |
18 | Deerwood Bank | Strong | Sound | Strong | Strong | $2,656 | -0.024% | 247 | |
19 | NexBank | Strong | Sound | Strong | Strong | $1,536 | +0.213% | 222 | |
20 | First Western Bank & Trust | Strong | Sound | Strong | Strong | $3,078 | -0.108% | 142 | |
21 | GRANITE BANK | Strong | Acceptable | Strong | Exceptional | $3,195 | +0.318% | 495 | |
22 | North Shore Bank of Commerce | Strong | Acceptable | Strong | Exceptional | $3,437 | +0.191% | 477 | |
23 | USAA Federal Savings Bank | Strong | Sound | Sound | Strong | $2,016 | -0.109% | 194 | |
24 | HomeTown Bank | Strong | Sound | Sound | Strong | $2,530 | -0.063% | 149 | |
25 | Park State Bank | Strong | Sound | Sound | Strong | $2,499 | -0.036% | 142 | |
26 | Flagstar Bank, N.A. | Strong | Acceptable | Strong | Strong | $2,385 | +0.259% | 578 | |
27 | Plains Commerce Bank | Strong | Acceptable | Strong | Strong | $2,432 | +0.366% | 424 | |
28 | Barrington Bank & Trust Company, National Association | Strong | Acceptable | Strong | Strong | $2,720 | +0.403% | 281 |
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.
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