Safe Rate Rankings

Best FHA 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
Gate City BankBank
Exceptional
Exceptional
Strong
Exceptional
Strong
$2,700Fees
0.206%Below
321
2
Prosperity Home Mortgage, LLCIndependent Mortgage Company
Exceptional
Strong
Exceptional
Strong
Exceptional
$2,669Fees
0.249%Above
1,495
3
Associated Bank, National AssociationBank
Exceptional
Exceptional
Strong
Strong
Strong
$821Fees
0.198%Below
219
4
MEGASTAR FINANCIAL CORP.Independent Mortgage Company
Exceptional
Exceptional
Strong
Strong
Strong
$6,798Credit
0.338%Above
189
5
UNITED WHOLESALE MORTGAGE, LLCIndependent Mortgage Company
Exceptional
Sound
Exceptional
Exceptional
Exceptional
$3,056Fees
0.293%Above
4,740
6
U.S. Bank National AssociationBank
Exceptional
Strong
Exceptional
Sound
Exceptional
$873Fees
0.173%Above
1,505
7
Alerus Financial, National AssociationBank
Exceptional
Strong
Strong
Strong
Exceptional
$1,608Fees
0.259%Above
958
8
The Huntington National BankBank
Exceptional
Strong
Exceptional
Strong
Strong
$1,536Fees
0.269%Above
680
9
FREEDOM MORTGAGE CORPORATIONIndependent Mortgage Company
Exceptional
Strong
Exceptional
Strong
Strong
$2,696Fees
0.391%Above
433
10
Old National BankBank
Exceptional
Exceptional
Strong
Sound
Strong
$977Fees
0.128%Below
331
11
ARK-LA-TEX FINANCIAL SERVICES, LLC.Independent Mortgage Company
Exceptional
Strong
Exceptional
Strong
Strong
$2,571Fees
0.291%Above
153
12
Royal Credit UnionCredit Union
Exceptional
Sound
Strong
Exceptional
Exceptional
$3,081Fees
0.268%Above
1,205
13
PENNYMAC LOAN SERVICES, LLCIndependent Mortgage Company
Exceptional
Strong
Exceptional
Sound
Strong
$2,482Fees
0.106%Above
936
14
SWBC MORTGAGE CORPORATIONIndependent Mortgage Company
Exceptional
Sound
Exceptional
Exceptional
Strong
$3,681Fees
0.453%Above
379
15
ALTRA Federal Credit UnionCredit Union
Exceptional
Exceptional
Sound
Sound
Strong
$1,721Fees
0.225%Above
246
16
CORTRUST MORTGAGE, INC.Independent Mortgage Company
Exceptional
Strong
Strong
Strong
Strong
$3,033Fees
0.110%Below
171
17
First Western Bank & TrustBank
Exceptional
Exceptional
Sound
Sound
Strong
$3,078Fees
0.108%Below
142
18
ROCKET MORTGAGE, LLCIndependent Mortgage Company
Strong
Acceptable
Exceptional
Exceptional
Exceptional
$3,910Fees
0.325%Above
3,524
19
FAIRWAY INDEPENDENT MORTGAGE CORPORATIONIndependent Mortgage Company
Strong
Acceptable
Exceptional
Exceptional
Exceptional
$3,456Fees
0.465%Above
2,146
20
LOANDEPOT.COM, LLCIndependent Mortgage Company
Strong
Sound
Exceptional
Strong
Strong
$2,963Fees
0.265%Above
948
21
Bremer Bank, National AssociationBank
Strong
Sound
Strong
Strong
Exceptional
$2,946Fees
0.260%Above
716
22
M/I FINANCIAL, LLCIndependent Mortgage Company
Strong
Sound
Exceptional
Strong
Strong
$5,775Fees
0.222%Below
586
23
Flagstar Bank, N.A.Bank
Strong
Sound
Exceptional
Strong
Strong
$2,385Fees
0.259%Above
578
24
Merchants Bank, National AssociationBank
Strong
Strong
Sound
Sound
Exceptional
$2,010Fees
0.053%Below
538
25
GRANITE BANKBank
Strong
Sound
Strong
Strong
Exceptional
$3,195Fees
0.318%Above
495
26
Plains Commerce BankBank
Strong
Sound
Exceptional
Strong
Strong
$2,432Fees
0.366%Above
424
27
Cambria Financial Group, LLCIndependent Mortgage Company
Strong
Sound
Strong
Strong
Exceptional
$2,676Fees
0.279%Above
360
28
Bell BankBank
Strong
Acceptable
Exceptional
Strong
Exceptional
$2,925Fees
0.253%Above
4,389
29
Wells Fargo Bank, National AssociationBank
Strong
Sound
Strong
Sound
Exceptional
$2,002Fees
0.060%Above
1,187
30
TRUSTONE FINANCIAL CREDIT UNIONCredit Union
Strong
Sound
Strong
Sound
Exceptional
$1,571Fees
0.014%Below
1,006
31
Tradition Mortgage, LLCIndependent Mortgage Company
Strong
Sound
Sound
Strong
Exceptional
$2,101Fees
0.205%Above
925
32
NEWREZ LLCIndependent Mortgage Company
Strong
Sound
Exceptional
Sound
Strong
$2,483Fees
0.329%Above
605
33
Servion, Inc.Independent Mortgage Company
Strong
Sound
Strong
Sound
Exceptional
$2,269Fees
0.253%Above
512
34
PRIMELENDING, A PLAINSCAPITAL COMPANYIndependent Mortgage Company
Strong
Acceptable
Exceptional
Exceptional
Strong
$3,266Fees
0.337%Above
335
35
UNION HOME MORTGAGE CORP.Independent Mortgage Company
Strong
Acceptable
Exceptional
Exceptional
Strong
$3,351Fees
0.461%Above
305
36
Nations Lending CorporationIndependent Mortgage Company
Strong
Acceptable
Exceptional
Exceptional
Strong
$3,959Fees
0.494%Above
169
37
GUARANTEED RATE, INC.Independent Mortgage Company
Strong
Acceptable
Exceptional
Strong
Strong
$3,257Fees
0.224%Above
977
38
GUARANTEED RATE AFFINITY, LLCIndependent Mortgage Company
Strong
Acceptable
Exceptional
Strong
Strong
$2,937Fees
0.358%Above
718
39
Summit Mortgage CorporationIndependent Mortgage Company
Strong
Acceptable
Strong
Strong
Exceptional
$3,170Fees
0.354%Above
639
40
PLAZA HOME MORTGAGE, INC.Independent Mortgage Company
Strong
Acceptable
Exceptional
Strong
Strong
$2,423Fees
0.155%Above
595
41
MOVEMENT MORTGAGE, LLCIndependent Mortgage Company
Strong
Acceptable
Exceptional
Strong
Strong
$2,714Fees
0.448%Above
507
42
North Shore Bank of CommerceBank
Strong
Acceptable
Sound
Exceptional
Exceptional
$3,437Fees
0.191%Above
477
43
GUILD MORTGAGE COMPANY LLCIndependent Mortgage Company
Strong
Acceptable
Exceptional
Strong
Strong
$2,959Fees
0.416%Above
467
44
BAY EQUITY LLCIndependent Mortgage Company
Strong
Acceptable
Exceptional
Strong
Strong
$3,359Fees
0.312%Above
460
45
CMG MORTGAGE, INC.Independent Mortgage Company
Strong
Acceptable
Exceptional
Strong
Strong
$3,320Fees
0.283%Above
458
46
CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIPIndependent Mortgage Company
Strong
Acceptable
Exceptional
Strong
Strong
$4,660Fees
0.566%Above
347
47
HOMEOWNERS FINANCIAL GROUP USA, LLCIndependent Mortgage Company
Strong
Acceptable
Exceptional
Strong
Strong
$3,979Fees
0.455%Above
307
48
Barrington Bank & Trust Company, National AssociationBank
Strong
Acceptable
Exceptional
Strong
Strong
$2,720Fees
0.403%Above
281
49
Paramount Residential Mortgage Group, Inc.Independent Mortgage Company
Strong
Acceptable
Exceptional
Strong
Strong
$4,935Fees
0.619%Above
150
50
ZILLOW HOME LOANS, LLCIndependent Mortgage Company
Strong
Acceptable
Exceptional
Strong
Strong
$3,140Fees
0.462%Above
131

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.