Largest lenders in Redwood County
| # | Lender | Grade | Applications | Originated | Denial rate | Median rate |
|---|---|---|---|---|---|---|
| 1 | Minnwest Bank | C | 55 | 39 | 12.7% | 7.05% |
| 2 | Old National Bank | B | 35 | 23 | 17.1% | 6.75% |
| 3 | HomeTown Bank | B | 35 | 32 | 2.9% | 6.77% |
| 4 | Southpoint Financial | C | 32 | 19 | 28.1% | — |
| 5 | Mortgage Research Center | C | 16 | 12 | 12.5% | 6.25% |
| 6 | Rocket Mortgage | C | 14 | 10 | 21.4% | 6.69% |
| 7 | U.S. Bank | D | 13 | 6 | 23.1% | 7.60% |
| 8 | Bremer Bank | B | 12 | 11 | 8.3% | 8.80% |
| 9 | Homeowners Financial Group USA | B | 11 | 9 | 9.1% | 6.56% |
| 10 | Plains Commerce Bank | B | 9 | 5 | 33.3% | 6.88% |
| 11 | Fairway Independent Mortgage | B | 7 | 6 | 0.0% | 6.56% |
| 12 | Freedom Mortgage | B | 7 | 2 | 14.3% | 6.56% |
| 13 | United Shore Financial Services | B | 7 | 5 | 0.0% | 6.38% |
| 14 | Pennymac Loan Services | C | 6 | 3 | 50.0% | 5.75% |
| 15 | Broker Solutions | D | 6 | 3 | 0.0% | 5.75% |
| 16 | Plaza Home Mortgage | C | 5 | 3 | 20.0% | 6.13% |
| 17 | Newrez | D | 5 | 1 | 20.0% | 6.88% |
| 18 | Coastal Community Bank | C | 5 | 1 | 0.0% | 13.49% |
What Redwood County borrowers applied for
By loan purpose
By loan type
Why applications were denied
Redwood County by year
| Year | Applications | Originated | Denial rate | Median rate | Median loan |
|---|---|---|---|---|---|
| 2023 | 307 | 211 | 15.3% | 6.88% | $105,000 |
| 2024 | 306 | 219 | 11.8% | 7.00% | $95,000 |
| 2025 | 397 | 244 | 17.9% | 6.75% | $115,000 |
Frequently asked questions
17.9% of applications in Redwood County were denied in 2025, against 13.6% statewide in Minnesota.
Minnwest Bank, with 55 applications in 2025 and a denial rate of 12.7%.
The median mortgage application in Redwood County in 2025 was for $115,000; the median property value on originated loans was $195,000.