Largest lenders in Lake County
| # | Lender | Grade | Applications | Originated | Denial rate | Median rate |
|---|---|---|---|---|---|---|
| 1 | North Shore Federal Credit Union | C | 148 | 79 | 6.8% | 6.25% |
| 2 | Park State Bank | C | 50 | 37 | 8.0% | 6.63% |
| 3 | Two Harbors Federal Credit Union | – | 42 | 40 | 2.4% | 6.29% |
| 4 | Rocket Mortgage | C | 32 | 21 | 25.0% | 6.75% |
| 5 | U.S. Bank | D | 19 | 10 | 42.1% | 8.40% |
| 6 | Bell Bank | A | 17 | 16 | 0.0% | 6.93% |
| 7 | North Shore Bank of Commerce | B | 15 | 13 | 13.3% | 6.50% |
| 8 | United Shore Financial Services | B | 14 | 9 | 21.4% | 6.63% |
| 9 | Newrez | D | 12 | 2 | 16.7% | 6.75% |
| 10 | Coastal Community Bank | C | 11 | 1 | 0.0% | 14.24% |
| 11 | Loandepot.Com | D | 9 | 4 | 44.4% | 6.31% |
| 12 | Pennymac Loan Services | C | 8 | 3 | 0.0% | 6.13% |
| 13 | Frandsen Bank & Trust | B | 7 | 7 | 0.0% | 7.47% |
| 14 | AmeriSave Mortgage | D | 7 | 3 | 42.9% | 7.13% |
| 15 | Affinity Plus | C | 7 | 4 | 0.0% | 6.56% |
| 16 | Members Cooperative Credit Union | D | 7 | 4 | 42.9% | 7.50% |
| 17 | Northview Bank | F | 6 | 2 | 16.7% | — |
| 18 | Freedom Mortgage | B | 6 | 2 | 0.0% | 6.88% |
| 19 | Trustone Financial Credit Union | C | 6 | 6 | 0.0% | 6.56% |
| 20 | Crosscountry Mortgage | B | 5 | 4 | 0.0% | 6.73% |
| 21 | Broker Solutions | D | 5 | 1 | 0.0% | 6.75% |
| 22 | Ely Area Credit Union | – | 5 | 5 | 0.0% | — |
Best approval odds in Lake County
Lowest decision denial rate among lenders that decided at least 50 applications here in 2025.
| # | Lender | Decided | Decision denial rate |
|---|---|---|---|
| 1 | North Shore Federal Credit Union | 89 | 11.2% |
What Lake County borrowers applied for
By loan purpose
By loan type
Why applications were denied
Lake County by year
| Year | Applications | Originated | Denial rate | Median rate | Median loan |
|---|---|---|---|---|---|
| 2023 | 446 | 345 | 8.7% | 6.63% | $135,000 |
| 2024 | 439 | 335 | 12.1% | 7.00% | $155,000 |
| 2025 | 561 | 354 | 11.1% | 6.50% | $175,000 |
Frequently asked questions
11.1% of applications in Lake County were denied in 2025, against 13.6% statewide in Minnesota.
North Shore Federal Credit Union, with 148 applications in 2025 and a denial rate of 6.8%.
The median mortgage application in Lake County in 2025 was for $175,000; the median property value on originated loans was $305,000.