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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 Conventional Mortgage Bank Lenders in Minnesota
Updated February 6, 2026
Market Overview
28
Total Lenders
63,948
Total Loans
0.25%
Median Rate Spread
| Rank | Lender | Overall | Pricing | Product | Pull Through | Place | Avg Fees | Spread | Volume | Action |
|---|---|---|---|---|---|---|---|---|---|---|
1 | Old National Bank | Exceptional | Exceptional | Exceptional | Strong | Strong | $977 | -0.128% | 331 | |
2 | Associated Bank, National Association | Exceptional | Exceptional | Exceptional | Strong | Strong | $821 | -0.198% | 219 | |
3 | U.S. Bank National Association | Exceptional | Strong | Exceptional | Strong | Exceptional | $873 | +0.173% | 1,505 | |
4 | Gate City Bank | Exceptional | Strong | Exceptional | Exceptional | Strong | $2,700 | -0.206% | 321 | |
5 | Wells Fargo Bank, National Association | Exceptional | Strong | Exceptional | Sound | Exceptional | $2,002 | +0.060% | 1,187 | |
6 | The Huntington National Bank | Exceptional | Strong | Exceptional | Strong | Strong | $1,536 | +0.269% | 680 | |
7 | Merchants Bank, National Association | Exceptional | Strong | Strong | Strong | Exceptional | $2,010 | -0.053% | 538 | |
8 | Bank of America, National Association | Exceptional | Strong | Exceptional | Strong | Strong | $1,524 | -0.023% | 210 | |
9 | Liberty Bank Minnesota | Exceptional | Strong | Strong | Exceptional | Strong | $1,085 | +0.141% | 187 | |
10 | Think Mutual Bank | Exceptional | Strong | Strong | Strong | Strong | $1,935 | -0.098% | 333 | |
11 | Alerus Financial, National Association | Strong | Sound | Strong | Strong | Exceptional | $1,608 | +0.259% | 958 | |
12 | Bremer Bank, National Association | Strong | Sound | Strong | Strong | Exceptional | $2,946 | +0.260% | 716 | |
13 | Frandsen Bank & Trust | Strong | Sound | Strong | Strong | Exceptional | $2,442 | +0.065% | 418 | |
14 | JPMorgan Chase Bank, National Association | Strong | Sound | Exceptional | Strong | Strong | $2,267 | +0.142% | 396 | |
15 | Barrington Bank & Trust Company, National Association | Strong | Sound | Exceptional | Strong | Strong | $2,720 | +0.403% | 281 | |
16 | First Federal Bank | Strong | Strong | Strong | Sound | Strong | $2,160 | -0.269% | 152 | |
17 | Bell Bank | Strong | Acceptable | Exceptional | Strong | Exceptional | $2,925 | +0.253% | 4,389 | |
18 | North Shore Bank of Commerce | Strong | Acceptable | Strong | Exceptional | Exceptional | $3,437 | +0.191% | 477 | |
19 | NexBank | Strong | Sound | Strong | Strong | Strong | $1,536 | +0.213% | 222 | |
20 | Minnwest Bank | Strong | Strong | Sound | Sound | Strong | $2,440 | -0.241% | 189 | |
21 | First Western Bank & Trust | Strong | Sound | Strong | Strong | Strong | $3,078 | -0.108% | 142 | |
22 | Flagstar Bank, N.A. | Strong | Acceptable | Exceptional | Strong | Strong | $2,385 | +0.259% | 578 | |
23 | GRANITE BANK | Strong | Acceptable | Strong | Strong | Exceptional | $3,195 | +0.318% | 495 | |
24 | Plains Commerce Bank | Strong | Acceptable | Exceptional | Strong | Strong | $2,432 | +0.366% | 424 | |
25 | Deerwood Bank | Strong | Sound | Sound | Strong | Strong | $2,656 | -0.024% | 247 | |
26 | USAA Federal Savings Bank | Strong | Sound | Strong | Acceptable | Strong | $2,016 | -0.109% | 194 | |
27 | Park State Bank | Strong | Sound | Sound | Sound | Strong | $2,499 | -0.036% | 142 | |
28 | HomeTown Bank | Strong | Sound | Acceptable | Sound | Strong | $2,530 | -0.063% | 149 |
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.
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