Safe Rate Rankings

Best Conventional 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.
Total Lenders236
Total Loans63,948
Median Rate Spread0.25%

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RankLenderOverallPricingProductPull ThroughPlaceAvg FeesRate Spread# of LoansAction
1
IOWA BANKERS MORTGAGE CORPORATIONIndependent Mortgage Company
Exceptional
Exceptional
Exceptional
Exceptional
Strong
$2,324Fees
0.030%Above
159
2
Royal Credit UnionCredit Union
Exceptional
Strong
Exceptional
Exceptional
Exceptional
$3,081Fees
0.268%Above
1,205
3
Old National BankBank
Exceptional
Exceptional
Exceptional
Strong
Strong
$977Fees
0.128%Below
331
4
Associated Bank, National AssociationBank
Exceptional
Exceptional
Exceptional
Strong
Strong
$821Fees
0.198%Below
219
5
U.S. Bank National AssociationBank
Exceptional
Strong
Exceptional
Strong
Exceptional
$873Fees
0.173%Above
1,505
6
Gate City BankBank
Exceptional
Strong
Exceptional
Exceptional
Strong
$2,700Fees
0.206%Below
321
7
NAVY FEDERAL CREDIT UNIONCredit Union
Exceptional
Exceptional
Exceptional
Sound
Strong
$712Fees
0.499%Below
213
8
Wells Fargo Bank, National AssociationBank
Exceptional
Strong
Exceptional
Sound
Exceptional
$2,002Fees
0.060%Above
1,187
9
The Huntington National BankBank
Exceptional
Strong
Exceptional
Strong
Strong
$1,536Fees
0.269%Above
680
10
Merchants Bank, National AssociationBank
Exceptional
Strong
Strong
Strong
Exceptional
$2,010Fees
0.053%Below
538
11
MAGNIFI FINANCIAL CREDIT UNIONCredit Union
Exceptional
Strong
Strong
Strong
Exceptional
$832Fees
0.068%Below
439
12
Bank of America, National AssociationBank
Exceptional
Strong
Exceptional
Strong
Strong
$1,524Fees
0.023%Below
210
13
MEGASTAR FINANCIAL CORP.Independent Mortgage Company
Exceptional
Exceptional
Strong
Sound
Strong
$6,798Credit
0.338%Above
189
14
Liberty Bank MinnesotaBank
Exceptional
Strong
Strong
Exceptional
Strong
$1,085Fees
0.141%Above
187
15
Baxter Credit UnionCredit Union
Exceptional
Exceptional
Strong
Sound
Strong
$924Fees
0.007%Below
173
16
TRUSTONE FINANCIAL CREDIT UNIONCredit Union
Exceptional
Strong
Strong
Sound
Exceptional
$1,571Fees
0.014%Below
1,006
17
Wings Financial Credit UnionCredit Union
Exceptional
Strong
Strong
Sound
Exceptional
$1,424Fees
0.244%Below
677
18
Think Mutual BankBank
Exceptional
Strong
Strong
Strong
Strong
$1,935Fees
0.098%Below
333
19
ALTRA Federal Credit UnionCredit Union
Exceptional
Sound
Exceptional
Exceptional
Strong
$1,721Fees
0.225%Above
246
20
UNITED WHOLESALE MORTGAGE, LLCIndependent Mortgage Company
Strong
Acceptable
Exceptional
Exceptional
Exceptional
$3,056Fees
0.293%Above
4,740
21
ROCKET MORTGAGE, LLCIndependent Mortgage Company
Strong
Acceptable
Exceptional
Exceptional
Exceptional
$3,910Fees
0.325%Above
3,524
22
Alerus Financial, National AssociationBank
Strong
Sound
Strong
Strong
Exceptional
$1,608Fees
0.259%Above
958
23
LOANDEPOT.COM, LLCIndependent Mortgage Company
Strong
Sound
Exceptional
Strong
Strong
$2,963Fees
0.265%Above
948
24
Tradition Mortgage, LLCIndependent Mortgage Company
Strong
Sound
Strong
Strong
Exceptional
$2,101Fees
0.205%Above
925
25
Bremer Bank, National AssociationBank
Strong
Sound
Strong
Strong
Exceptional
$2,946Fees
0.260%Above
716
26
PLAZA HOME MORTGAGE, INC.Independent Mortgage Company
Strong
Sound
Exceptional
Strong
Strong
$2,423Fees
0.155%Above
595
27
Spire Credit UnionCredit Union
Strong
Strong
Sound
Sound
Exceptional
$1,064Fees
0.048%Above
527
28
Servion, Inc.Independent Mortgage Company
Strong
Sound
Strong
Strong
Exceptional
$2,269Fees
0.253%Above
512
29
BAY EQUITY LLCIndependent Mortgage Company
Strong
Sound
Exceptional
Strong
Strong
$3,359Fees
0.312%Above
460
30
Frandsen Bank & TrustBank
Strong
Sound
Strong
Strong
Exceptional
$2,442Fees
0.065%Above
418
31
JPMorgan Chase Bank, National AssociationBank
Strong
Sound
Exceptional
Strong
Strong
$2,267Fees
0.142%Above
396
32
Barrington Bank & Trust Company, National AssociationBank
Strong
Sound
Exceptional
Strong
Strong
$2,720Fees
0.403%Above
281
33
MUTUAL OF OMAHA MORTGAGE, INC.Independent Mortgage Company
Strong
Strong
Strong
Sound
Strong
$1,735Fees
0.092%Above
204
34
ARK-LA-TEX FINANCIAL SERVICES, LLC.Independent Mortgage Company
Strong
Sound
Exceptional
Strong
Strong
$2,571Fees
0.291%Above
153
35
First Federal BankBank
Strong
Strong
Strong
Sound
Strong
$2,160Fees
0.269%Below
152
36
Bell BankBank
Strong
Acceptable
Exceptional
Strong
Exceptional
$2,925Fees
0.253%Above
4,389
37
CROSSCOUNTRY MORTGAGE, LLCIndependent Mortgage Company
Strong
Acceptable
Exceptional
Strong
Exceptional
$3,865Fees
0.409%Above
2,661
38
FAIRWAY INDEPENDENT MORTGAGE CORPORATIONIndependent Mortgage Company
Strong
Acceptable
Exceptional
Strong
Exceptional
$3,456Fees
0.465%Above
2,146
39
Prosperity Home Mortgage, LLCIndependent Mortgage Company
Strong
Acceptable
Exceptional
Strong
Exceptional
$2,669Fees
0.249%Above
1,495
40
PENNYMAC LOAN SERVICES, LLCIndependent Mortgage Company
Strong
Sound
Exceptional
Sound
Strong
$2,482Fees
0.106%Above
936
41
AFFINITY PLUSCredit Union
Strong
Sound
Strong
Sound
Exceptional
$2,250Fees
0.011%Below
552
42
North Shore Bank of CommerceBank
Strong
Acceptable
Strong
Exceptional
Exceptional
$3,437Fees
0.191%Above
477
43
NexBankBank
Strong
Sound
Strong
Strong
Strong
$1,536Fees
0.213%Above
222
44
CORTRUST MORTGAGE, INC.Independent Mortgage Company
Strong
Sound
Strong
Strong
Strong
$3,033Fees
0.110%Below
171
45
Nations Lending CorporationIndependent Mortgage Company
Strong
Acceptable
Exceptional
Exceptional
Strong
$3,959Fees
0.494%Above
169
46
First Western Bank & TrustBank
Strong
Sound
Strong
Strong
Strong
$3,078Fees
0.108%Below
142
47
GUARANTEED RATE, INC.Independent Mortgage Company
Strong
Acceptable
Exceptional
Strong
Strong
$3,257Fees
0.224%Above
977
48
Summit Mortgage CorporationIndependent Mortgage Company
Strong
Acceptable
Strong
Strong
Exceptional
$3,170Fees
0.354%Above
639
49
Flagstar Bank, N.A.Bank
Strong
Acceptable
Exceptional
Strong
Strong
$2,385Fees
0.259%Above
578
50
MOVEMENT MORTGAGE, LLCIndependent Mortgage Company
Strong
Acceptable
Exceptional
Strong
Strong
$2,714Fees
0.448%Above
507

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.