RCN Capital in Minnesota vs the state
80.0%Denial rate+66.40 pts vs state
80.0%Decision denial rate+63.65 pts vs state
20.0%Origination rate-46.37 pts vs state
7.31%Median rate+0.68 pts vs state
—Rate spread (pts)
—Median applicant income
4Loans originated
16Denied
Trend in Minnesota
| Year | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| 2023 | 39 | 8 | 25.6% | 8.32% | #301 |
| 2024 | 53 | 16 | 26.4% | 7.91% | #262 |
| 2025 | 20 | 4 | 80.0% | 7.31% | #391 |
What RCN Capital lends in Minnesota
By loan purpose
By loan type
Why it denied Minnesota applicants
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: 20 applications in 2025, of which 4 were originated and 16 denied.
80.0% of all applications, or 80.0% of the applications it actually decided on. The Minnesota statewide average across all lenders was 13.6%.
The median rate on loans RCN Capital originated in Minnesota in 2025 was 7.31%, against a statewide median of 6.63%.
About this data. Figures are RCN Capital'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