Heritage Bank in Minnesota vs the state
7.8%Denial rate-5.79 pts vs state
9.0%Decision denial rate-7.34 pts vs state
75.8%Origination rate+9.41 pts vs state
—Median rate
—Rate spread (pts)
$106kMedian applicant income
97Loans originated
10Denied
Trend in Minnesota
| Year | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| 2023 | 146 | 119 | 6.9% | 6.88% | #144 |
| 2024 | 91 | 77 | 5.5% | — | #200 |
| 2025 | 128 | 97 | 7.8% | — | #178 |
What Heritage Bank lends in Minnesota
By loan purpose
By loan type
Why it denied Minnesota applicants
Where in Minnesota
Counties with the most Heritage Bank applications in 2025.
| County | Applications | Originated | Denied | Denial rate |
|---|---|---|---|---|
| Kandiyohi County | 54 | 43 | 4 | 7.4% |
| Renville County | 6 | 2 | 0 | 0.0% |
| Anoka County | 6 | 5 | 0 | 0.0% |
| Chippewa County | 6 | 4 | 0 | 0.0% |
| Stearns County | 6 | 5 | 1 | 16.7% |
| Washington County | 5 | 4 | 0 | 0.0% |
| Ramsey County | 5 | 3 | 1 | 20.0% |
| Hennepin County | 4 | 3 | 0 | 0.0% |
| Scott County | 3 | 1 | 2 | 66.7% |
| Pope County | 3 | 0 | 2 | 66.7% |
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: 128 applications in 2025, of which 97 were originated and 10 denied.
7.8% of all applications, or 9.0% of the applications it actually decided on. The Minnesota statewide average across all lenders was 13.6%.
This lender did not report interest rates on its originated loans (some institutions are exempt from HMDA pricing fields).
About this data. Figures are Heritage 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