Northwoods in Minnesota vs the state
16.3%Denial rate+2.70 pts vs state
16.8%Decision denial rate+0.41 pts vs state
71.2%Origination rate+4.83 pts vs state
7.75%Median rate+1.13 pts vs state
1.82Rate spread (pts)+1.57 pts vs state
$79kMedian applicant income
131Loans originated
30Denied
Trend in Minnesota
| Year | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| 2023 | 145 | 88 | 20.7% | 8.50% | #146 |
| 2024 | 147 | 86 | 20.4% | 9.00% | #151 |
| 2025 | 184 | 131 | 16.3% | 7.75% | #141 |
What Northwoods lends in Minnesota
By loan purpose
By loan type
Why it denied Minnesota applicants
Where in Minnesota
Counties with the most Northwoods applications in 2025.
| County | Applications | Originated | Denied | Denial rate |
|---|---|---|---|---|
| Carlton County | 120 | 83 | 21 | 17.5% |
| St. Louis County | 42 | 31 | 5 | 11.9% |
| Pine County | 15 | 13 | 2 | 13.3% |
| Aitkin County | 2 | 1 | 0 | 0.0% |
| Kanabec County | 1 | 1 | 0 | 0.0% |
| Crow Wing County | 1 | 0 | 1 | 100.0% |
| Cass County | 1 | 1 | 0 | 0.0% |
| Wadena 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: 184 applications in 2025, of which 131 were originated and 30 denied.
16.3% of all applications, or 16.8% of the applications it actually decided on. The Minnesota statewide average across all lenders was 13.6%.
The median rate on loans Northwoods originated in Minnesota in 2025 was 7.75%, against a statewide median of 6.63%.
About this data. Figures are Northwoods'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