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refinance lenders · HMDA 2023–2025

Refinance lenders in Minnesota

Fat Boy Data analyzed mortgage refinance activity in Minnesota to show which lenders are making these loans, how often they approve, how often borrowers accept the offer, and how much they typically finance. 27,259 applications were decided by 531 lenders between 2023 and 2025.

Minnesota at a glance

531Active lenders144 with 20+ decisions
82.1%Market approval rate22,368 of 27,259 decided
$235KTypical loanmedian lender, $10K brackets
94%Borrower take-up21,054 loans funded

How Minnesota compares

Approval rate compared
Minnesota82.1%All 616 counties76.5%
Typical loan compared
Minnesota$235KAll 616 counties$295K

What the data shows

Trustone Financial Credit Union made the most mortgage refinances in Minnesota, 2,224 of them.

Vermillion State Bank approved the highest share of applications among lenders with at least 20 decisions here, 100% of 119.

Lenders approved 82.1% of mortgage refinance applications in Minnesota, 5.6 percentage points above the the United States rate of 76.5%.

The typical mortgage refinance here is $235K, 20% smaller than the the United States typical of $295K.

Approval rate of all 60 lenders with 20+ decisions here
0%25%50%75%100%Discover Bank: 37% approved of 539Lakeview Loan Servicing, LLC: 46% approved of 466Mortgage Research Center, LLC: 55% approved of 238Citizens Bank, National Association: 60% approved of 91Bank of America, National Association: 64% approved of 198Third Federal Savings And Loan Association Of Cleveland: 65% approved of 137The Huntington National Bank: 67% approved of 610Flagstar Bank, National Association: 69% approved of 83Associated Bank, National Association: 70% approved of 318City & County Credit Union: 71% approved of 95Newrez LLC: 74% approved of 319Royal Credit Union: 75% approved of 88Old National Bank: 75% approved of 594MidWestOne Bank: 76% approved of 140Wells Fargo Bank, National Association: 76% approved of 346Members Cooperative: 79% approved of 108Mayo Employees Federal Credit Union: 82% approved of 121Rocket Mortgage, LLC: 82% approved of 1,198Royal United Mortgage LLC: 82% approved of 85Loandepot.Com, LLC: 83% approved of 207Wings Financial Credit Union: 83% approved of 1,102Trustone Financial Credit Union: 83% approved of 2,769New American Funding, LLC: 84% approved of 182Blaze Credit Union: 84% approved of 294Topline Financial Credit Union: 84% approved of 93U.S. Bank National Association: 84% approved of 1,361Village Capital & Investment LLC: 85% approved of 138Think Mutual Bank: 85% approved of 192Plaza Home Mortgage, Inc.: 85% approved of 117American National Bank: 86% approved of 92Magnifi Financial Credit Union: 86% approved of 326Ideal: 86% approved of 142Nationstar Mortgage LLC: 86% approved of 137Primelending, A Plainscapital Company: 86% approved of 81United Wholesale Mortgage, LLC: 87% approved of 1,906Affinity Plus: 87% approved of 1,058Frandsen Bank & Trust: 87% approved of 86Prosperity Home Mortgage, LLC: 87% approved of 166Veridian Credit Union: 88% approved of 129Finance of America Reverse LLC: 88% approved of 75Pennymac Loan Services, LLC: 88% approved of 625Bell Bank: 89% approved of 1,016Mutual of Omaha Mortgage, Inc.: 89% approved of 161Bremer Bank, National Association: 90% approved of 251Fairway Independent Mortgage Corporation: 90% approved of 279Alerus Financial, National Association: 90% approved of 531Guaranteed Rate, Inc.: 90% approved of 184CorTrust Bank National Association: 92% approved of 96JPMorgan Chase Bank, National Association: 92% approved of 146Sage Home Loans Corporation: 93% approved of 81Freedom Mortgage Corporation: 94% approved of 531Liberty Bank Minnesota: 94% approved of 80Highland Bank: 94% approved of 116Merchants Bank, National Association: 95% approved of 189Cmg Mortgage, Inc.: 95% approved of 97Deerwood Bank: 97% approved of 167Crosscountry Mortgage, LLC: 98% approved of 435Guild Mortgage Company LLC: 98% approved of 115Tradition Mortgage, LLC: 100% approved of 239Vermillion State Bank: 100% approved of 119

Each dot is one lender, placed at its approval rate. Hover for the name and sample size.

Refinance lenders in Minnesota

LenderApprovalApprovedTaken upTypical loanLoans made
1Trustone Financial Credit Union83%2,301 / 2,76997%$125K2,224
2United Wholesale Mortgage, LLCBroker only87%1,651 / 1,90695%$355K1,573
3U.S. Bank National Association84%1,144 / 1,36197%$155K1,110
4Rocket Mortgage, LLC82%983 / 1,19894%$335K922
5Wings Financial Credit Union83%912 / 1,10277%$105K706

Ranked by lending volume. Approval is the share of decided applications a lender approved; taken up is the share of approvals the borrower accepted. Lenders with fewer than 20 decisions are marked as a limited sample and are never used for a “highest approval” claim. How these numbers are built.

Fat Boy found 526 more lenders.

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Other lending data for Minnesota

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Counties in Minnesota

Hennepin CountyCountyRamsey CountyCountyDakota CountyCountyAnoka CountyCountyWashington CountyCountySt. Louis CountyCountyOlmsted CountyCountyStearns CountyCountyScott CountyCountyWright CountyCountyCarver CountyCounty