Largest lenders in Otter Tail County
| # | Lender | Grade | Applications | Originated | Denial rate | Median rate |
|---|---|---|---|---|---|---|
| 1 | Bell Bank | A | 197 | 161 | 5.6% | 7.25% |
| 2 | United Shore Financial Services | B | 146 | 111 | 11.0% | 6.46% |
| 3 | Gate City Bank | C | 133 | 101 | 12.0% | 6.50% |
| 4 | Affinity Plus | C | 97 | 75 | 8.3% | 6.74% |
| 5 | Rocket Mortgage | C | 80 | 51 | 28.8% | 6.49% |
| 6 | U.S. Bank | D | 75 | 46 | 20.0% | 7.91% |
| 7 | Old National Bank | B | 51 | 35 | 17.7% | 6.50% |
| 8 | American Federal Bank | C | 45 | 35 | 11.1% | — |
| 9 | Magnifi Financial Credit Union | B | 43 | 32 | 11.6% | 6.31% |
| 10 | Mortgage Research Center | C | 42 | 17 | 31.0% | 6.25% |
| 11 | BMO Bank | F | 42 | 29 | 14.3% | 8.50% |
| 12 | Tradition Mortgage | A | 38 | 38 | 0.0% | 6.63% |
| 13 | Merchants Bank | A | 26 | 18 | 11.5% | 6.21% |
| 14 | Loandepot.Com | D | 25 | 20 | 8.0% | 6.99% |
| 15 | First International Bank & Trust | B | 24 | 23 | 0.0% | 7.38% |
| 16 | Primary Residential Mortgage | C | 23 | 23 | 0.0% | 6.50% |
| 17 | Pennymac Loan Services | C | 22 | 12 | 9.1% | 6.50% |
| 18 | Bremer Bank | B | 22 | 20 | 4.6% | 6.75% |
| 19 | Wells Fargo Bank | B | 21 | 14 | 14.3% | 6.56% |
| 20 | Freedom Mortgage | B | 19 | 11 | 15.8% | 6.25% |
| 21 | Granite Bank | B | 19 | 16 | 0.0% | 6.50% |
| 22 | New Day Financial | F | 17 | 2 | 17.7% | 7.62% |
| 23 | Trustone Financial Credit Union | C | 15 | 13 | 6.7% | 7.13% |
| 24 | Midwest Bank | A | 15 | 15 | 0.0% | — |
| 25 | First Community Credit Union | B | 15 | 13 | 6.7% | 6.63% |
Best approval odds in Otter Tail County
Lowest decision denial rate among lenders that decided at least 50 applications here in 2025.
| # | Lender | Decided | Decision denial rate |
|---|---|---|---|
| 1 | Bell Bank | 176 | 6.3% |
| 2 | Affinity Plus | 86 | 9.3% |
| 3 | United Shore Financial Services | 127 | 12.6% |
| 4 | Gate City Bank | 118 | 13.6% |
| 5 | U.S. Bank | 62 | 24.2% |
| 6 | Rocket Mortgage | 77 | 29.9% |
What Otter Tail County borrowers applied for
By loan purpose
By loan type
Why applications were denied
Otter Tail County by year
| Year | Applications | Originated | Denial rate | Median rate | Median loan |
|---|---|---|---|---|---|
| 2023 | 1,518 | 1,075 | 11.1% | 7.00% | $145,000 |
| 2024 | 1,696 | 1,198 | 12.0% | 6.99% | $165,000 |
| 2025 | 1,791 | 1,242 | 12.2% | 6.68% | $195,000 |
Frequently asked questions
12.2% of applications in Otter Tail County were denied in 2025, against 13.6% statewide in Minnesota.
Bell Bank, with 197 applications in 2025 and a denial rate of 5.6%.
The median mortgage application in Otter Tail County in 2025 was for $195,000; the median property value on originated loans was $325,000.