Bank of America in Minnesota vs the state
29.1%Denial rate+15.53 pts vs state
39.6%Decision denial rate+23.27 pts vs state
44.0%Origination rate-22.39 pts vs state
6.00%Median rate-0.63 pts vs state
0.16Rate spread (pts)-0.09 pts vs state
$122kMedian applicant income
533Loans originated
353Denied
Trend in Minnesota
| Year | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| 2023 | 1,305 | 525 | 43.0% | 6.75% | #28 |
| 2024 | 1,089 | 468 | 31.0% | 6.93% | #35 |
| 2025 | 1,212 | 533 | 29.1% | 6.00% | #34 |
What Bank of America lends in Minnesota
By loan purpose
By loan type
Why it denied Minnesota applicants
Where in Minnesota
Counties with the most Bank of America applications in 2025.
| County | Applications | Originated | Denied | Denial rate |
|---|---|---|---|---|
| Hennepin County | 416 | 217 | 103 | 24.8% |
| Ramsey County | 125 | 53 | 41 | 32.8% |
| Dakota County | 123 | 50 | 40 | 32.5% |
| Anoka County | 90 | 33 | 32 | 35.6% |
| Washington County | 78 | 41 | 21 | 26.9% |
| Scott County | 48 | 22 | 12 | 25.0% |
| Carver County | 41 | 20 | 6 | 14.6% |
| Wright County | 32 | 15 | 10 | 31.3% |
| St. Louis County | 30 | 12 | 9 | 30.0% |
| Sherburne County | 24 | 4 | 9 | 37.5% |
Other large lenders in Minnesota
| Lender | Grade | Applications | Denial rate | Median rate |
|---|---|---|---|---|
| United Shore Financial Services | B | 8,694 | 10.6% | 6.38% |
| U.S. Bank | D | 8,624 | 30.4% | 7.88% |
| Bell Bank | A | 7,987 | 5.3% | 6.63% |
| Rocket Mortgage | C | 7,630 | 16.3% | 6.63% |
| Trustone Financial Credit Union | C | 6,066 | 20.0% | 7.25% |
| Affinity Plus | C | 5,438 | 14.6% | 6.63% |
| Blaze Credit Union | B | 4,074 | 12.3% | 6.38% |
| Wings Financial Credit Union | A | 3,960 | 16.4% | 7.25% |
| Crosscountry Mortgage | B | 3,942 | 2.1% | 6.63% |
| Fairway Independent Mortgage | B | 3,327 | 3.2% | 6.75% |
Frequently asked questions
Minnesota: 1,212 applications in 2025, of which 533 were originated and 353 denied.
29.1% of all applications, or 39.6% of the applications it actually decided on. The Minnesota statewide average across all lenders was 13.6%.
The median rate on loans Bank of America originated in Minnesota in 2025 was 6.00%, against a statewide median of 6.63%.
About this data. Figures are Bank of America's own HMDA filing for properties located in Minnesota, 2025. The grade is national; state-level figures are shown for context and are not separately graded. Methodology