Largest lenders in Dakota County
| # | Lender | Grade | Applications | Originated | Denial rate | Median rate |
|---|---|---|---|---|---|---|
| 1 | U.S. Bank | D | 836 | 416 | 33.1% | 8.15% |
| 2 | Wings Financial Credit Union | A | 779 | 534 | 13.1% | 7.25% |
| 3 | Trustone Financial Credit Union | C | 691 | 473 | 19.5% | 7.25% |
| 4 | Bell Bank | A | 653 | 526 | 6.4% | 6.63% |
| 5 | United Shore Financial Services | B | 651 | 508 | 11.1% | 6.50% |
| 6 | Rocket Mortgage | C | 605 | 451 | 15.4% | 6.63% |
| 7 | Affinity Plus | C | 495 | 317 | 16.2% | 6.63% |
| 8 | The Huntington National Bank | D | 327 | 182 | 29.7% | 7.64% |
| 9 | Fairway Independent Mortgage | B | 291 | 233 | 4.1% | 6.63% |
| 10 | Lennar Mortgage | A | 290 | 222 | 2.8% | 5.75% |
| 11 | Royal Credit Union | B | 285 | 213 | 12.3% | 6.75% |
| 12 | Crosscountry Mortgage | B | 272 | 234 | 1.1% | 6.63% |
| 13 | Pennymac Loan Services | C | 266 | 166 | 8.3% | 6.38% |
| 14 | Prosperity Home Mortgage | A | 261 | 218 | 2.7% | 6.63% |
| 15 | Blaze Credit Union | B | 257 | 180 | 10.1% | 6.38% |
| 16 | Loandepot.Com | D | 234 | 158 | 11.1% | 6.63% |
| 17 | 21st Mortgage | F | 232 | 38 | 57.8% | 11.23% |
| 18 | Broker Solutions | D | 229 | 116 | 7.4% | 6.63% |
| 19 | Wells Fargo Bank | B | 227 | 142 | 16.7% | 6.38% |
| 20 | Guaranteed Rate | B | 203 | 142 | 2.0% | 6.50% |
| 21 | Dhi Mortgage Company | B | 185 | 145 | 3.8% | 5.50% |
| 22 | Triad Financial Services | D | 172 | 24 | 61.6% | 9.33% |
| 23 | Freedom Mortgage | B | 171 | 79 | 5.3% | 6.25% |
| 24 | Mortgage Research Center | C | 170 | 91 | 14.1% | 6.25% |
| 25 | Old National Bank | B | 170 | 118 | 17.7% | 6.25% |
Best approval odds in Dakota County
Lowest decision denial rate among lenders that decided at least 50 applications here in 2025.
| # | Lender | Decided | Decision denial rate |
|---|---|---|---|
| 1 | Vermillion State Bank | 70 | 0.0% |
| 2 | Guaranteed Rate Affinity | 90 | 0.0% |
| 3 | Guild Mortgage | 89 | 0.0% |
| 4 | Coastal Community Bank | 123 | 0.0% |
| 5 | Tradition Mortgage | 141 | 0.7% |
| 6 | M/i Financial | 84 | 1.2% |
| 7 | Crosscountry Mortgage | 239 | 1.3% |
| 8 | Cambria Financial Group | 74 | 1.4% |
| 9 | Luminate Bank | 139 | 1.4% |
| 10 | Movement Mortgage | 58 | 1.7% |
What Dakota County borrowers applied for
By loan purpose
By loan type
Why applications were denied
Dakota County by year
| Year | Applications | Originated | Denial rate | Median rate | Median loan |
|---|---|---|---|---|---|
| 2023 | 13,556 | 8,920 | 15.1% | 6.88% | $205,000 |
| 2024 | 14,574 | 9,612 | 15.5% | 6.98% | $215,000 |
| 2025 | 15,716 | 10,300 | 14.4% | 6.63% | $235,000 |
Frequently asked questions
14.4% of applications in Dakota County were denied in 2025, against 13.6% statewide in Minnesota.
U.S. Bank, with 836 applications in 2025 and a denial rate of 33.1%.
The median mortgage application in Dakota County in 2025 was for $235,000; the median property value on originated loans was $415,000.