NexBank in Minnesota vs the state
11.3%Denial rate-2.29 pts vs state
12.8%Decision denial rate-3.51 pts vs state
75.6%Origination rate+9.23 pts vs state
6.50%Median rate-0.13 pts vs state
0.18Rate spread (pts)-0.07 pts vs state
$94kMedian applicant income
127Loans originated
19Denied
Trend in Minnesota
| Year | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| 2023 | 56 | 47 | 10.7% | 7.25% | #257 |
| 2024 | 267 | 228 | 7.5% | 6.63% | #105 |
| 2025 | 168 | 127 | 11.3% | 6.50% | #150 |
What NexBank lends in Minnesota
By loan purpose
By loan type
Why it denied Minnesota applicants
Where in Minnesota
Counties with the most NexBank applications in 2025.
| County | Applications | Originated | Denied | Denial rate |
|---|---|---|---|---|
| Hennepin County | 55 | 42 | 9 | 16.4% |
| Dakota County | 18 | 16 | 1 | 5.6% |
| Anoka County | 16 | 10 | 3 | 18.8% |
| Ramsey County | 11 | 8 | 1 | 9.1% |
| Washington County | 10 | 8 | 0 | 0.0% |
| Wright County | 8 | 5 | 1 | 12.5% |
| Olmsted County | 6 | 4 | 1 | 16.7% |
| Isanti County | 5 | 4 | 1 | 20.0% |
| Carver County | 5 | 4 | 0 | 0.0% |
| Scott County | 4 | 4 | 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: 168 applications in 2025, of which 127 were originated and 19 denied.
11.3% of all applications, or 12.8% of the applications it actually decided on. The Minnesota statewide average across all lenders was 13.6%.
The median rate on loans NexBank originated in Minnesota in 2025 was 6.50%, against a statewide median of 6.63%.
About this data. Figures are NexBank'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