Forward Bank in Minnesota vs the state
7.1%Denial rate-6.46 pts vs state
7.7%Decision denial rate-8.66 pts vs state
71.4%Origination rate+5.06 pts vs state
7.13%Median rate+0.50 pts vs state
0.04Rate spread (pts)-0.21 pts vs state
$131kMedian applicant income
10Loans originated
1Denied
Trend in Minnesota
| Year | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| 2024 | 11 | 5 | 9.1% | 7.00% | #448 |
| 2025 | 14 | 10 | 7.1% | 7.13% | #429 |
What Forward Bank lends in Minnesota
By loan purpose
By loan type
Why it denied Minnesota applicants
Where in Minnesota
Counties with the most Forward Bank applications in 2025.
| County | Applications | Originated | Denied | Denial rate |
|---|---|---|---|---|
| Goodhue County | 5 | 2 | 1 | 20.0% |
| Wabasha County | 5 | 4 | 0 | 0.0% |
| Clearwater County | 1 | 1 | 0 | 0.0% |
| Carver County | 1 | 1 | 0 | 0.0% |
| Fillmore County | 1 | 1 | 0 | 0.0% |
| Hennepin County | 1 | 1 | 0 | 0.0% |
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: 14 applications in 2025, of which 10 were originated and 1 denied.
7.1% of all applications, or 7.7% of the applications it actually decided on. The Minnesota statewide average across all lenders was 13.6%.
The median rate on loans Forward Bank originated in Minnesota in 2025 was 7.13%, against a statewide median of 6.63%.
About this data. Figures are Forward Bank'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