Safe Rate Rankings

Best VA Mortgage Bank 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 Lenders16

Total Loans63,948

Median Rate Spread0.25%

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Rank	Lender	Overall	Pricing	Product	Pull Through	Place	Avg Fees	Rate Spread	# of Loans
1	Gate City BankBank	Exceptional	Exceptional	Strong	Exceptional	Strong	$2,700Fees	0.206%Below	321
2	U.S. Bank National AssociationBank	Exceptional	Strong	Exceptional	Strong	Exceptional	$873Fees	0.173%Above	1,505
3	Old National BankBank	Exceptional	Exceptional	Strong	Strong	Strong	$977Fees	0.128%Below	331
4	First Federal BankBank	Exceptional	Exceptional	Exceptional	Sound	Strong	$2,160Fees	0.269%Below	152
5	Bell BankBank	Exceptional	Sound	Exceptional	Exceptional	Exceptional	$2,925Fees	0.253%Above	4,389
6	Merchants Bank, National AssociationBank	Exceptional	Strong	—	Strong	Exceptional	$2,010Fees	0.053%Below	538
7	JPMorgan Chase Bank, National AssociationBank	Exceptional	Strong	Exceptional	Sound	Strong	$2,267Fees	0.142%Above	396
8	USAA Federal Savings BankBank	Exceptional	Strong	Exceptional	Sound	Strong	$2,016Fees	0.109%Below	194
9	Wells Fargo Bank, National AssociationBank	Strong	Sound	Exceptional	Sound	Exceptional	$2,002Fees	0.060%Above	1,187
10	Alerus Financial, National AssociationBank	Strong	Sound	Strong	Strong	Exceptional	$1,608Fees	0.259%Above	958
11	Flagstar Bank, N.A.Bank	Strong	Sound	Exceptional	Strong	Strong	$2,385Fees	0.259%Above	578
12	GRANITE BANKBank	Strong	Sound	Strong	Strong	Exceptional	$3,195Fees	0.318%Above	495
13	Plains Commerce BankBank	Strong	Sound	Exceptional	Strong	Strong	$2,432Fees	0.366%Above	424
14	North Shore Bank of CommerceBank	Strong	Acceptable	Strong	Exceptional	Exceptional	$3,437Fees	0.191%Above	477
15	Bremer Bank, National AssociationBank	Strong	Sound	Acceptable	Strong	Exceptional	$2,946Fees	0.260%Above	716
16	Barrington Bank & Trust Company, National AssociationBank	Strong	Mediocre	Exceptional	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 40 Points)

Pricing

Rate and fee competitiveness (25%)

Pull Through

Reliability in closing loans (25%)

Product

Specialization in the loan type (25%)

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.