Alerus Financial, National Association mortgage approval rate & lending review
Alerus Financial, National Association decided 4,199 mortgage applications and funded 3,900 loans across the 616 counties Fat Boy Data covers, 2023–2025.
These are the decisions Alerus Financial, National Association reported under the Home Mortgage Disclosure Act, not its advertised interest rates.
Alerus Financial, National Association at a glance
Approval is 13.7 points above the 81.9% national rate for the same mix of loan types.
Approval rates by loan type
| Loan type | Approval | Approved | Taken up | Typical loan | Loans made |
|---|---|---|---|---|---|
| Mortgage lenders | 99% | 2,573 / 2,612 | 98% | $325K | 2,515 |
| Home improvement loans | 91% | 433 / 474 | 96% | $115K | 416 |
| Cash-out refinance | 90% | 74 / 82 | 99% | $245K | 73 |
| Refinance | 90% | 618 / 688 | 97% | $245K | 598 |
| Investment property purchase | 97% | 168 / 173 | 96% | $245K | 162 |
| Investment refinance | 88% | 99 / 112 | 88% | $135K | 87 |
| Investment home improvement | 83% | 39 / 47 | 97% | $165K | 38 |
Alerus Financial, National Association lending by state
| State | Approval | Typical loan | Decided | Loans made |
|---|---|---|---|---|
| Minnesota | 96% | $325K | 3,328 | 3,104 |
| Arizona | 93% | $465K | 292 | 266 |
| North Dakota | 91% | $105K | 288 | 253 |
| Wisconsin | 96% | $235K | 112 | 105 |
| Florida | 95% | $405K | 42 | 40 |
Fat Boy Data covers 616 counties, 79.6% of the US population, not every county in every state. States with fewer than 20 decisions are not listed.Methodology.
Where Alerus Financial, National Association lends most
| County | Loan type | Approval | Decided | Loans made |
|---|---|---|---|---|
| Hennepin County, MN | Mortgage lenders | 99% | 1,018 | 981 |
| Ramsey County, MN | Mortgage lenders | 100% | 362 | 352 |
| Hennepin County, MN | Refinance | 90% | 252 | 218 |
| Dakota County, MN | Mortgage lenders | 99% | 203 | 195 |
| Olmsted County, MN | Mortgage lenders | 95% | 186 | 176 |
| Washington County, MN | Mortgage lenders | 98% | 133 | 128 |
| Anoka County, MN | Mortgage lenders | 100% | 122 | 120 |
| Hennepin County, MN | Home improvement loans | 91% | 137 | 119 |
| Carver County, MN | Mortgage lenders | 100% | 81 | 79 |
| Maricopa County, AZ | Home improvement loans | 90% | 79 | 70 |
| Scott County, MN | Mortgage lenders | 98% | 57 | 55 |
| Ramsey County, MN | Refinance | 93% | 59 | 52 |
The county markets where Alerus Financial, National Association made the most loans. Each link opens that market with every lender ranked.
Questions about Alerus Financial, National Association
What is Alerus Financial, National Association's mortgage approval rate?
Alerus Financial, National Association approved 95.6% of the 4,199 mortgage applications it decided across the 616 counties Fat Boy Data covers, 2023–2025, 13.7 points above the 81.9% national rate for the same mix of loan types.
How often do borrowers take the loan Alerus Financial, National Association offers?
Borrowers accepted 97% of the loans Alerus Financial, National Association approved, against 96% for all home purchase mortgage lenders nationally. A low take-up usually means the approved terms were not competitive.
What size loans does Alerus Financial, National Association make?
The typical home purchase mortgage loan Alerus Financial, National Association made was $325K; across all loan types its typical loan ran from $115K to $325K. HMDA reports amounts in $10,000 brackets, so these are midpoints.
Where does Alerus Financial, National Association lend?
Alerus Financial, National Association decided applications in 36 of the states Fat Boy Data covers, most of them in Minnesota, Arizona and North Dakota.
Can I apply to Alerus Financial, National Association directly?
Yes. Alerus Financial, National Association is a bank or credit union with 27 branches in the FDIC and NCUA registries, and it takes mortgage applications directly.
Does this page show Alerus Financial, National Association's interest rates?
No. HMDA filings record who applied, who was approved and how much was borrowed, not the rate offered. Use the approval rate and take-up here to judge how Alerus Financial, National Association treats applications, then get a rate quote from the lender.