Lower in Minnesota vs the state
5.3%Denial rate-8.32 pts vs state
6.6%Decision denial rate-9.73 pts vs state
73.8%Origination rate+7.41 pts vs state
6.50%Median rate-0.13 pts vs state
0.29Rate spread (pts)+0.03 pts vs state
$95kMedian applicant income
377Loans originated
27Denied
Trend in Minnesota
| Year | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| 2023 | 53 | 27 | 15.1% | 7.25% | #264 |
| 2024 | 208 | 123 | 5.3% | 6.63% | #122 |
| 2025 | 511 | 377 | 5.3% | 6.50% | #81 |
What Lower lends in Minnesota
By loan purpose
By loan type
Why it denied Minnesota applicants
Where in Minnesota
Counties with the most Lower applications in 2025.
| County | Applications | Originated | Denied | Denial rate |
|---|---|---|---|---|
| Hennepin County | 85 | 60 | 5 | 5.9% |
| Anoka County | 67 | 52 | 7 | 10.4% |
| Ramsey County | 47 | 35 | 1 | 2.1% |
| St. Louis County | 38 | 28 | 1 | 2.6% |
| Wright County | 33 | 27 | 0 | 0.0% |
| Dakota County | 33 | 22 | 4 | 12.1% |
| Washington County | 31 | 25 | 1 | 3.2% |
| Sherburne County | 23 | 20 | 1 | 4.3% |
| Stearns County | 18 | 11 | 2 | 11.1% |
| Scott County | 16 | 8 | 1 | 6.3% |
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: 511 applications in 2025, of which 377 were originated and 27 denied.
5.3% of all applications, or 6.6% of the applications it actually decided on. The Minnesota statewide average across all lenders was 13.6%.
The median rate on loans Lower originated in Minnesota in 2025 was 6.50%, against a statewide median of 6.63%.
About this data. Figures are Lower'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