Granite Bank mortgage approval rate & lending review
Granite Bank decided 2,614 mortgage applications and funded 2,442 loans across the 616 counties Fat Boy Data covers, 2023–2025.
These are the decisions Granite Bank reported under the Home Mortgage Disclosure Act, not its advertised interest rates.
Granite Bank at a glance
Approval is 7.5 points above the 86.3% 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 | 95% | 2,098 / 2,209 | 100% | $295K | 2,092 |
| Cash-out refinance | 80% | 61 / 76 | 98% | $275K | 60 |
| Refinance | 91% | 99 / 109 | 99% | $325K | 98 |
| Investment property purchase | 92% | 160 / 174 | 98% | $245K | 157 |
| Investment refinance | 81% | 25 / 31 | 96% | $285K | 24 |
Granite Bank lending by state
| State | Approval | Typical loan | Decided | Loans made |
|---|---|---|---|---|
| Minnesota | 94% | $295K | 1,400 | 1,315 |
| South Dakota | 93% | $295K | 261 | 242 |
| Florida | 88% | $325K | 154 | 134 |
| Texas | 100% | $265K | 146 | 146 |
| Arizona | 94% | $405K | 111 | 104 |
| Wisconsin | 98% | $265K | 109 | 106 |
| Colorado | 97% | $435K | 88 | 85 |
| Alabama | 94% | $355K | 70 | 65 |
| Illinois | 97% | $175K | 36 | 33 |
| Iowa | 82% | $155K | 34 | 27 |
| North Dakota | 93% | $285K | 28 | 26 |
| California | 100% | $735K | 24 | 24 |
| Washington | 91% | $365K | 23 | 21 |
| Wyoming | 95% | $265K | 22 | 21 |
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 Granite Bank lends most
| County | Loan type | Approval | Decided | Loans made |
|---|---|---|---|---|
| Hennepin County, MN | Mortgage lenders | 95% | 349 | 331 |
| Pennington County, SD | Mortgage lenders | 95% | 234 | 222 |
| Dakota County, MN | Mortgage lenders | 98% | 152 | 149 |
| Ramsey County, MN | Mortgage lenders | 97% | 153 | 148 |
| Anoka County, MN | Mortgage lenders | 94% | 142 | 133 |
| McLennan County, TX | Mortgage lenders | 100% | 103 | 103 |
| Wright County, MN | Mortgage lenders | 92% | 93 | 86 |
| Washington County, MN | Mortgage lenders | 95% | 78 | 74 |
| Scott County, MN | Mortgage lenders | 100% | 63 | 63 |
| St. Louis County, MN | Mortgage lenders | 90% | 69 | 62 |
| Stearns County, MN | Mortgage lenders | 93% | 44 | 41 |
| Limestone County, AL | Mortgage lenders | 100% | 37 | 37 |
The county markets where Granite Bank made the most loans. Each link opens that market with every lender ranked.
Questions about Granite Bank
What is Granite Bank's mortgage approval rate?
Granite Bank approved 93.9% of the 2,614 mortgage applications it decided across the 616 counties Fat Boy Data covers, 2023–2025, 7.5 points above the 86.3% national rate for the same mix of loan types.
How often do borrowers take the loan Granite Bank offers?
Borrowers accepted 100% of the loans Granite Bank 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 Granite Bank make?
The typical home purchase mortgage loan Granite Bank made was $295K; across all loan types its typical loan ran from $245K to $325K. HMDA reports amounts in $10,000 brackets, so these are midpoints.
Where does Granite Bank lend?
Granite Bank decided applications in 32 of the states Fat Boy Data covers, most of them in Minnesota, South Dakota and Florida.
Can I apply to Granite Bank directly?
Yes. Granite Bank is a bank or credit union with 2 branches in the FDIC and NCUA registries, and it takes mortgage applications directly.
Does this page show Granite Bank'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 Granite Bank treats applications, then get a rate quote from the lender.