Largest lenders in Polk County
| # | Lender | Grade | Applications | Originated | Denial rate | Median rate |
|---|---|---|---|---|---|---|
| 1 | Gate City Bank | C | 68 | 48 | 20.6% | 7.30% |
| 2 | Old National Bank | B | 54 | 45 | 11.1% | 6.50% |
| 3 | United Shore Financial Services | B | 50 | 42 | 8.0% | 6.43% |
| 4 | Rocket Mortgage | C | 45 | 38 | 15.6% | 6.81% |
| 5 | Frandsen Bank & Trust | B | 39 | 35 | 0.0% | 6.75% |
| 6 | First Holding Company of Cavalier | – | 36 | 35 | 2.8% | — |
| 7 | First Community Credit Union | B | 30 | 22 | 6.7% | 6.50% |
| 8 | American Federal Bank | C | 29 | 21 | 13.8% | — |
| 9 | First International Bank & Trust | B | 28 | 20 | 7.1% | 6.81% |
| 10 | Ultima Bank Minnesota | – | 28 | 27 | 3.6% | — |
| 11 | Alerus Financial | B | 23 | 19 | 4.4% | 6.87% |
| 12 | U.S. Bank | D | 21 | 8 | 52.4% | 8.63% |
| 13 | Mortgage Research Center | C | 18 | 13 | 22.2% | 6.25% |
| 14 | Granite Bank | B | 16 | 14 | 6.3% | 6.88% |
| 15 | Bremer Bank | B | 16 | 15 | 6.3% | 8.80% |
| 16 | Freedom Mortgage | B | 15 | 6 | 20.0% | 6.31% |
| 17 | Barrington Bank & Trust Company | C | 13 | 10 | 0.0% | 6.25% |
| 18 | The First National Bank of Bagley | – | 13 | 11 | 7.7% | — |
| 19 | Ark-La-Tex Financial Services, LLC. | A | 12 | 10 | 16.7% | 7.00% |
| 20 | Nations Lending | B | 11 | 11 | 0.0% | 6.75% |
| 21 | Dakota Heritage Bank | – | 11 | 10 | 9.1% | — |
| 22 | Coastal Community Bank | C | 9 | 4 | 0.0% | 10.74% |
| 23 | Wells Fargo Bank | B | 8 | 5 | 12.5% | 6.13% |
| 24 | Affinity Plus | C | 8 | 7 | 12.5% | 6.49% |
| 25 | Merchants Bank | A | 7 | 6 | 14.3% | 6.53% |
Best approval odds in Polk County
Lowest decision denial rate among lenders that decided at least 50 applications here in 2025.
| # | Lender | Decided | Decision denial rate |
|---|---|---|---|
| 1 | Old National Bank | 51 | 11.8% |
| 2 | Gate City Bank | 62 | 22.6% |
What Polk County borrowers applied for
By loan purpose
By loan type
Why applications were denied
Polk County by year
| Year | Applications | Originated | Denial rate | Median rate | Median loan |
|---|---|---|---|---|---|
| 2023 | 702 | 505 | 12.4% | 6.88% | $125,000 |
| 2024 | 709 | 517 | 13.3% | 6.88% | $155,000 |
| 2025 | 797 | 583 | 12.6% | 6.63% | $155,000 |
Frequently asked questions
12.6% of applications in Polk County were denied in 2025, against 13.6% statewide in Minnesota.
Gate City Bank, with 68 applications in 2025 and a denial rate of 20.6%.
The median mortgage application in Polk County in 2025 was for $155,000; the median property value on originated loans was $255,000.