Largest lenders in Carlton County
| # | Lender | Grade | Applications | Originated | Denial rate | Median rate |
|---|---|---|---|---|---|---|
| 1 | Members Cooperative Credit Union | D | 166 | 115 | 15.1% | 7.75% |
| 2 | Northwoods | D | 120 | 83 | 17.5% | 7.75% |
| 3 | Rocket Mortgage | C | 69 | 42 | 30.4% | 6.99% |
| 4 | North Shore Bank of Commerce | B | 56 | 45 | 1.8% | 6.63% |
| 5 | U.S. Bank | D | 53 | 29 | 24.5% | 6.63% |
| 6 | Northview Bank | F | 53 | 34 | 17.0% | — |
| 7 | Frandsen Bank & Trust | B | 47 | 36 | 10.6% | 6.81% |
| 8 | Affinity Plus | C | 39 | 28 | 10.3% | 6.56% |
| 9 | Mortgage Research Center | C | 39 | 24 | 7.7% | 6.13% |
| 10 | Servion | B | 35 | 29 | 0.0% | 6.50% |
| 11 | CENTRICITY Credit Union | C | 33 | 32 | 0.0% | 6.49% |
| 12 | Compeer Financial, Flca | C | 28 | 16 | 21.4% | 7.25% |
| 13 | United Shore Financial Services | B | 26 | 18 | 3.9% | 6.19% |
| 14 | Broker Solutions | D | 26 | 13 | 3.9% | 6.88% |
| 15 | Bell Bank | A | 25 | 19 | 4.0% | 6.69% |
| 16 | Harbor Pointe Credit Union | A | 21 | 20 | 4.8% | — |
| 17 | American Pacific Mortgage | C | 19 | 15 | 15.8% | 6.88% |
| 18 | North Shore Federal Credit Union | C | 19 | 9 | 5.3% | 6.38% |
| 19 | Wells Fargo Bank | B | 18 | 10 | 22.2% | 6.06% |
| 20 | The First National Bank of Moose Lake | – | 17 | 15 | 11.8% | — |
| 21 | Newrez | D | 17 | 4 | 17.7% | 6.37% |
| 22 | Loandepot.Com | D | 16 | 12 | 18.8% | 6.68% |
| 23 | Pennymac Loan Services | C | 14 | 9 | 0.0% | 6.00% |
| 24 | Everett Financial | C | 14 | 13 | 0.0% | 6.88% |
| 25 | New Day Financial | F | 13 | 1 | 7.7% | 5.99% |
Best approval odds in Carlton County
Lowest decision denial rate among lenders that decided at least 50 applications here in 2025.
| # | Lender | Decided | Decision denial rate |
|---|---|---|---|
| 1 | North Shore Bank of Commerce | 54 | 1.9% |
| 2 | Members Cooperative Credit Union | 141 | 17.7% |
| 3 | Northwoods | 116 | 18.1% |
| 4 | Rocket Mortgage | 65 | 32.3% |
What Carlton County borrowers applied for
By loan purpose
By loan type
Why applications were denied
Carlton County by year
| Year | Applications | Originated | Denial rate | Median rate | Median loan |
|---|---|---|---|---|---|
| 2023 | 1,002 | 700 | 12.9% | 6.88% | $145,000 |
| 2024 | 1,204 | 787 | 14.5% | 7.05% | $155,000 |
| 2025 | 1,369 | 912 | 13.6% | 6.75% | $175,000 |
Frequently asked questions
13.6% of applications in Carlton County were denied in 2025, against 13.6% statewide in Minnesota.
Members Cooperative Credit Union, with 166 applications in 2025 and a denial rate of 15.1%.
The median mortgage application in Carlton County in 2025 was for $175,000; the median property value on originated loans was $315,000.