Lender in Minnesota · HMDA 2025
Rate mortgages in Minnesota
Rate's 2025 home-purchase and refinance lending in Minnesota, compared with all lenders in the state.
Rate originated 1,292 owner-occupied single-family loans in Minnesota from 1,386 completed applications, making it the state's #11 lender by volume.
Its median conventional purchase loan costs were $5,150 versus $5,100 for all Minnesota lenders, at a median 30-year fixed rate of 6.60% (Minnesota: 6.625%).
Loans in MN
1,292
of 1,386 applications
Denial rate
4.0%
Purchase · MN 5.2%
Rate spread
+0.25 pts
Conv. · MN +0.15 pts
Loan amount
$295,000
Purchase · MN $305,000
By loan purpose
| Purpose | Applications | Loans | Denial rate | 30-yr rate* | Rate spread* | Loan costs* | Median loan |
|---|---|---|---|---|---|---|---|
| Home purchase | 1,143 | 1,090 | 4.0% | 6.600% | +0.25 pts | $5,150 | $295,000 |
| Refinance | 161 | 140 | 10.6% | 6.125% | +0.03 pts | $4,780 | $345,000 |
| Cash-out refinance | 82 | 62 | 21.9% | 6.750% | +0.25 pts | $5,240 | $265,000 |
*Conventional loans only; medians with at least 20 loans.
Minnesota counties where Rate ranks in the top 25
Showing the 30 counties where it ranks highest, of 38.
| County | Rank | Loans | Market share |
|---|---|---|---|
| Norman County | 2 | 5 | 7.1% |
| Lac qui Parle County | 2 | 4 | 7.8% |
| Rice County | 3 | 56 | 7.0% |
| Wabasha County | 3 | 16 | 5.8% |
| Goodhue County | 4 | 38 | 5.8% |
| Steele County | 4 | 23 | 4.8% |
| Chisago County | 5 | 40 | 4.3% |
| Dodge County | 5 | 15 | 4.8% |
| Big Stone County | 5 | 3 | 6.8% |
| Isanti County | 6 | 23 | 3.2% |
| Pine County | 6 | 12 | 3.3% |
| Waseca County | 6 | 9 | 4.2% |
| Lincoln County | 7 | 3 | 4.1% |
| Kittson County | 7 | 2 | 5.7% |
| Koochiching County | 8 | 3 | 2.4% |
| Anoka County | 9 | 132 | 2.4% |
| Fillmore County | 9 | 8 | 3.1% |
| Olmsted County | 10 | 62 | 2.8% |
| Itasca County | 10 | 19 | 3.7% |
| Mille Lacs County | 10 | 10 | 2.3% |
| Le Sueur County | 10 | 8 | 2.0% |
| Washington County | 12 | 91 | 1.9% |
| Mower County | 12 | 9 | 1.8% |
| Freeborn County | 12 | 7 | 2.0% |
| Dakota County | 15 | 121 | 1.9% |
| Kanabec County | 15 | 4 | 1.9% |
| Cottonwood County | 15 | 2 | 1.7% |
| Ramsey County | 16 | 101 | 1.7% |
| McLeod County | 16 | 7 | 1.4% |
| Wadena County | 18 | 2 | 1.5% |
Source: FFIEC/CFPB HMDA 2025 public LAR. Statistical profile, not a review or offer. Methodology