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Carver County, Minnesota · 2025

Mortgage lenders in Carver County, MN: denial rates and top lenders (2025)

283 lenders acted on 4,460 mortgage applications for properties in Carver County in 2025. 11.5% were denied (Minnesota: 13.6%). Median rate on closed loans 6.63%; median loan $285,000; median property value $535,000.

4.5kApplications
11.5%Denial ratestate 13.6%
6.63%Median ratestate 6.63%
$285,000Median loan
$535,000Median property value

Largest lenders in Carver County

#LenderGradeApplicationsOriginatedDenial rateMedian rate
1 Bell Bank A 240201 2.9%6.63%
2 U.S. Bank D 235133 27.2%8.50%
3 Old National Bank B 219154 16.0%5.99%
4 Rocket Mortgage C 190148 13.2%6.69%
5 Lennar Mortgage A 177157 2.3%5.99%
6 United Shore Financial Services B 168130 12.5%6.49%
7 Wings Financial Credit Union A 167118 13.2%7.25%
8 Trustone Financial Credit Union C 162118 18.5%7.25%
9 Crosscountry Mortgage B 11392 0.9%6.63%
10 Dhi Mortgage Company B 9772 2.1%5.63%
11 The Huntington National Bank D 9661 24.0%6.88%
12 Pennymac Loan Services C 8761 4.6%6.50%
13 Tradition Mortgage A 8787 0.0%6.62%
14 Fairway Independent Mortgage B 7660 2.6%6.49%
15 Prosperity Home Mortgage A 7565 4.0%6.50%
16 Blaze Credit Union B 7153 8.5%6.50%
17 Broker Solutions D 6137 0.0%6.63%
18 21st Mortgage F 577 68.4%11.29%
19 M/i Financial A 5748 0.0%5.06%
20 Newrez D 5526 7.3%6.38%
21 HomeTown Bank B 5449 0.0%6.83%
22 Wells Fargo Bank B 5230 7.7%6.38%
23 Spring Eq D 5118 37.3%9.29%
24 Luminate Bank B 4537 2.2%6.63%
25 Guaranteed Rate B 4323 11.6%6.38%

Best approval odds in Carver County

Lowest decision denial rate among lenders that decided at least 50 applications here in 2025.

#LenderDecidedDecision denial rate
1M/i Financial520.0%
2Tradition Mortgage870.0%
3Crosscountry Mortgage951.1%
4Lennar Mortgage1612.5%
5Dhi Mortgage Company742.7%
6Fairway Independent Mortgage633.2%
7Bell Bank2093.4%
8Prosperity Home Mortgage684.4%
9Pennymac Loan Services685.9%
10Blaze Credit Union649.4%

What Carver County borrowers applied for

By loan purpose

Home purchase 2,162 48% · 5.5% denied
Refinance 687 15% · 11.1% denied
Cash-out refinance 516 12% · 15.5% denied
Home improvement 503 11% · 17.9% denied
Other / HELOC 592 13% · 25.2% denied

By loan type

Conventional 4,000 90% · 11.5% denied
FHA 277 6% · 14.4% denied
VA 174 4% · 7.5% denied
USDA / RHS 9 0% · 0.0% denied

Why applications were denied

Debt-to-income ratio 180 36%
Credit history 105 21%
Collateral 85 17%
Incomplete application 67 13%
Other 36 7%
Unverifiable information 14 3%
Insufficient cash 13 3%
Employment history 4 1%

Carver County by year

YearApplicationsOriginatedDenial rateMedian rateMedian loan
20233,7672,65210.7%6.85%$255,000
20243,7552,68611.4%6.88%$265,000
20254,4603,09011.5%6.63%$285,000

Frequently asked questions

11.5% of applications in Carver County were denied in 2025, against 13.6% statewide in Minnesota.

Bell Bank, with 240 applications in 2025 and a denial rate of 2.9%.

The median mortgage application in Carver County in 2025 was for $285,000; the median property value on originated loans was $535,000.