Luminate Bank in Minnesota vs the state
2.3%Denial rate-11.33 pts vs state
2.9%Decision denial rate-13.44 pts vs state
75.0%Origination rate+8.59 pts vs state
6.63%Median rate0.00 pts vs state
0.33Rate spread (pts)+0.07 pts vs state
$115kMedian applicant income
1,356Loans originated
41Denied
Trend in Minnesota
| Year | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| 2023 | 36 | 28 | 0.0% | 9.38% | #320 |
| 2024 | 34 | 28 | 0.0% | 8.63% | #319 |
| 2025 | 1,809 | 1,356 | 2.3% | 6.63% | #24 |
What Luminate Bank lends in Minnesota
By loan purpose
By loan type
Why it denied Minnesota applicants
Where in Minnesota
Counties with the most Luminate Bank applications in 2025.
| County | Applications | Originated | Denied | Denial rate |
|---|---|---|---|---|
| Hennepin County | 575 | 418 | 16 | 2.8% |
| Ramsey County | 173 | 127 | 3 | 1.7% |
| Dakota County | 168 | 135 | 2 | 1.2% |
| Anoka County | 157 | 116 | 4 | 2.5% |
| Washington County | 89 | 63 | 4 | 4.5% |
| Scott County | 68 | 54 | 0 | 0.0% |
| Wright County | 54 | 39 | 2 | 3.7% |
| Carver County | 45 | 37 | 1 | 2.2% |
| Crow Wing County | 45 | 31 | 0 | 0.0% |
| Blue Earth County | 44 | 36 | 1 | 2.3% |
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: 1,809 applications in 2025, of which 1,356 were originated and 41 denied.
2.3% of all applications, or 2.9% of the applications it actually decided on. The Minnesota statewide average across all lenders was 13.6%.
The median rate on loans Luminate Bank originated in Minnesota in 2025 was 6.63%, against a statewide median of 6.63%.
About this data. Figures are Luminate 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