Safe Rate Rankings

Best Bank 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.

Market

Total Lenders28

Total Loans17,822

Median Rate Spread0.11%

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Rank	Lender	Overall	Pricing	Pull Through	Place	Avg Fees	Rate Spread	# of Loans
1	Old National BankBank	Exceptional	Exceptional	Strong	Strong	$977Fees	0.128%Below	331
2	Associated Bank, National AssociationBank	Exceptional	Exceptional	Strong	Strong	$821Fees	0.198%Below	219
3	U.S. Bank National AssociationBank	Exceptional	Strong	Strong	Exceptional	$873Fees	0.173%Above	1,505
4	Merchants Bank, National AssociationBank	Exceptional	Strong	Strong	Exceptional	$2,010Fees	0.053%Below	538
5	Gate City BankBank	Exceptional	Strong	Exceptional	Strong	$2,700Fees	0.206%Below	321
6	First Federal BankBank	Exceptional	Exceptional	Sound	Strong	$2,160Fees	0.269%Below	152
7	Wells Fargo Bank, National AssociationBank	Strong	Strong	Sound	Exceptional	$2,002Fees	0.060%Above	1,187
8	The Huntington National BankBank	Strong	Strong	Strong	Strong	$1,536Fees	0.269%Above	680
9	Think Mutual BankBank	Strong	Strong	Strong	Strong	$1,935Fees	0.098%Below	333
10	Bank of America, National AssociationBank	Strong	Strong	Strong	Strong	$1,524Fees	0.023%Below	210
11	Liberty Bank MinnesotaBank	Strong	Strong	Strong	Strong	$1,085Fees	0.141%Above	187
12	Alerus Financial, National AssociationBank	Strong	Sound	Strong	Exceptional	$1,608Fees	0.259%Above	958
13	Bremer Bank, National AssociationBank	Strong	Sound	Strong	Exceptional	$2,946Fees	0.260%Above	716
14	Frandsen Bank & TrustBank	Strong	Sound	Strong	Exceptional	$2,442Fees	0.065%Above	418
15	Minnwest BankBank	Strong	Strong	Sound	Strong	$2,440Fees	0.241%Below	189
16	Bell BankBank	Strong	Acceptable	Exceptional	Exceptional	$2,925Fees	0.253%Above	4,389
17	JPMorgan Chase Bank, National AssociationBank	Strong	Sound	Strong	Strong	$2,267Fees	0.142%Above	396
18	Deerwood BankBank	Strong	Sound	Strong	Strong	$2,656Fees	0.024%Below	247
19	NexBankBank	Strong	Sound	Strong	Strong	$1,536Fees	0.213%Above	222
20	First Western Bank & TrustBank	Strong	Sound	Strong	Strong	$3,078Fees	0.108%Below	142
21	GRANITE BANKBank	Strong	Acceptable	Strong	Exceptional	$3,195Fees	0.318%Above	495
22	North Shore Bank of CommerceBank	Strong	Acceptable	Strong	Exceptional	$3,437Fees	0.191%Above	477
23	USAA Federal Savings BankBank	Strong	Sound	Sound	Strong	$2,016Fees	0.109%Below	194
24	HomeTown BankBank	Strong	Sound	Sound	Strong	$2,530Fees	0.063%Below	149
25	Park State BankBank	Strong	Sound	Sound	Strong	$2,499Fees	0.036%Below	142
26	Flagstar Bank, N.A.Bank	Strong	Acceptable	Strong	Strong	$2,385Fees	0.259%Above	578
27	Plains Commerce BankBank	Strong	Acceptable	Strong	Strong	$2,432Fees	0.366%Above	424
28	Barrington Bank & Trust Company, National AssociationBank	Strong	Acceptable	Strong	Strong	$2,720Fees	0.403%Above	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)

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.