Spring Eq in Minnesota vs the state
54.5%Denial rate+40.88 pts vs state
65.3%Decision denial rate+48.93 pts vs state
27.8%Origination rate-38.62 pts vs state
8.94%Median rate+2.31 pts vs state
3.15Rate spread (pts)+2.89 pts vs state
$114kMedian applicant income
384Loans originated
754Denied
Trend in Minnesota
| Year | Applications | Originated | Denial rate | Median rate | Rank in state |
|---|---|---|---|---|---|
| 2023 | 412 | 61 | 74.5% | 9.88% | #81 |
| 2024 | 787 | 233 | 57.3% | 9.38% | #56 |
| 2025 | 1,384 | 384 | 54.5% | 8.94% | #29 |
What Spring Eq lends in Minnesota
By loan purpose
By loan type
Why it denied Minnesota applicants
Where in Minnesota
Counties with the most Spring Eq applications in 2025.
| County | Applications | Originated | Denied | Denial rate |
|---|---|---|---|---|
| Hennepin County | 284 | 73 | 151 | 53.2% |
| Dakota County | 141 | 44 | 72 | 51.1% |
| Anoka County | 133 | 41 | 76 | 57.1% |
| Washington County | 106 | 34 | 49 | 46.2% |
| Wright County | 72 | 20 | 41 | 56.9% |
| Ramsey County | 63 | 12 | 39 | 61.9% |
| Scott County | 59 | 17 | 30 | 50.8% |
| Carver County | 51 | 18 | 19 | 37.3% |
| Sherburne County | 46 | 20 | 22 | 47.8% |
| St. Louis County | 35 | 8 | 24 | 68.6% |
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: 1,384 applications in 2025, of which 384 were originated and 754 denied.
54.5% of all applications, or 65.3% of the applications it actually decided on. The Minnesota statewide average across all lenders was 13.6%.
The median rate on loans Spring Eq originated in Minnesota in 2025 was 8.94%, against a statewide median of 6.63%.
About this data. Figures are Spring Eq'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