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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 FHA Mortgage Bank Lenders in Minnesota
Updated February 6, 2026
Market Overview
18
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 | Gate City Bank | Exceptional | Exceptional | Strong | Exceptional | Strong | $2,700 | -0.206% | 321 | |
2 | Associated Bank, National Association | Exceptional | Exceptional | Strong | Strong | Strong | $821 | -0.198% | 219 | |
3 | U.S. Bank National Association | Exceptional | Strong | Exceptional | Sound | Exceptional | $873 | +0.173% | 1,505 | |
4 | Alerus Financial, National Association | Exceptional | Strong | Strong | Strong | Exceptional | $1,608 | +0.259% | 958 | |
5 | The Huntington National Bank | Exceptional | Strong | Exceptional | Strong | Strong | $1,536 | +0.269% | 680 | |
6 | Old National Bank | Exceptional | Exceptional | Strong | Sound | Strong | $977 | -0.128% | 331 | |
7 | First Western Bank & Trust | Exceptional | Exceptional | Sound | Sound | Strong | $3,078 | -0.108% | 142 | |
8 | Bremer Bank, National Association | Strong | Sound | Strong | Strong | Exceptional | $2,946 | +0.260% | 716 | |
9 | Flagstar Bank, N.A. | Strong | Sound | Exceptional | Strong | Strong | $2,385 | +0.259% | 578 | |
10 | Merchants Bank, National Association | Strong | Strong | Sound | Sound | Exceptional | $2,010 | -0.053% | 538 | |
11 | GRANITE BANK | Strong | Sound | Strong | Strong | Exceptional | $3,195 | +0.318% | 495 | |
12 | Plains Commerce Bank | Strong | Sound | Exceptional | Strong | Strong | $2,432 | +0.366% | 424 | |
13 | Bell Bank | Strong | Acceptable | Exceptional | Strong | Exceptional | $2,925 | +0.253% | 4,389 | |
14 | Wells Fargo Bank, National Association | Strong | Sound | Strong | Sound | Exceptional | $2,002 | +0.060% | 1,187 | |
15 | North Shore Bank of Commerce | Strong | Acceptable | Sound | Exceptional | Exceptional | $3,437 | +0.191% | 477 | |
16 | JPMorgan Chase Bank, National Association | Strong | Sound | Strong | Sound | Strong | $2,267 | +0.142% | 396 | |
17 | Barrington Bank & Trust Company, National Association | Strong | Acceptable | Exceptional | Strong | Strong | $2,720 | +0.403% | 281 | |
18 | Park State Bank | Strong | Sound | Sound | Sound | Strong | $2,499 | -0.036% | 142 |
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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