Largest lenders in Rice County
| # | Lender | Grade | Applications | Originated | Denial rate | Median rate |
|---|---|---|---|---|---|---|
| 1 | Affinity Plus | C | 123 | 89 | 12.2% | 6.49% |
| 2 | United Shore Financial Services | B | 110 | 77 | 14.6% | 6.38% |
| 3 | Rocket Mortgage | C | 90 | 67 | 17.8% | 6.63% |
| 4 | Guaranteed Rate | B | 83 | 68 | 6.0% | 6.63% |
| 5 | Crosscountry Mortgage | B | 74 | 65 | 4.1% | 6.63% |
| 6 | Merchants Bank | A | 63 | 53 | 9.5% | 6.53% |
| 7 | Trustone Financial Credit Union | C | 61 | 41 | 24.6% | 7.25% |
| 8 | Wings Financial Credit Union | A | 53 | 38 | 7.6% | 7.00% |
| 9 | U.S. Bank | D | 51 | 26 | 31.4% | 6.88% |
| 10 | Frandsen Bank & Trust | B | 51 | 37 | 9.8% | 6.75% |
| 11 | Wells Fargo Bank | B | 50 | 34 | 8.0% | 6.38% |
| 12 | Bell Bank | A | 50 | 43 | 4.0% | 6.63% |
| 13 | The State Bank of Faribault | – | 50 | 49 | 2.0% | — |
| 14 | Prosperity Home Mortgage | A | 36 | 27 | 5.6% | 6.56% |
| 15 | Loandepot.Com | D | 31 | 22 | 22.6% | 7.00% |
| 16 | Fairway Independent Mortgage | B | 30 | 23 | 0.0% | 6.63% |
| 17 | Community Resource Bank | – | 28 | 22 | 7.1% | — |
| 18 | Pennymac Loan Services | C | 27 | 17 | 0.0% | 5.99% |
| 19 | Freedom Mortgage | B | 25 | 5 | 16.0% | 6.25% |
| 20 | Compeer Financial, Flca | C | 23 | 17 | 4.4% | 6.75% |
| 21 | Mortgage Research Center | C | 23 | 12 | 13.0% | 6.50% |
| 22 | Spring Eq | D | 21 | 8 | 42.9% | 9.41% |
| 23 | Nationstar Mortgage | C | 21 | 17 | 19.1% | 7.13% |
| 24 | Luminate Bank | B | 20 | 16 | 0.0% | 6.44% |
| 25 | Broker Solutions | D | 18 | 7 | 5.6% | 6.75% |
Best approval odds in Rice County
Lowest decision denial rate among lenders that decided at least 50 applications here in 2025.
| # | Lender | Decided | Decision denial rate |
|---|---|---|---|
| 1 | The State Bank of Faribault | 50 | 2.0% |
| 2 | Crosscountry Mortgage | 69 | 4.4% |
| 3 | Guaranteed Rate | 74 | 6.8% |
| 4 | Wings Financial Credit Union | 50 | 8.0% |
| 5 | Merchants Bank | 59 | 10.2% |
| 6 | Affinity Plus | 107 | 14.0% |
| 7 | United Shore Financial Services | 97 | 16.5% |
| 8 | Rocket Mortgage | 86 | 18.6% |
| 9 | Trustone Financial Credit Union | 57 | 26.3% |
What Rice County borrowers applied for
By loan purpose
By loan type
Why applications were denied
Rice County by year
| Year | Applications | Originated | Denial rate | Median rate | Median loan |
|---|---|---|---|---|---|
| 2023 | 1,489 | 1,047 | 11.9% | 6.75% | $195,000 |
| 2024 | 1,596 | 1,165 | 11.4% | 6.90% | $205,000 |
| 2025 | 1,826 | 1,295 | 12.0% | 6.63% | $205,000 |
Frequently asked questions
12.0% of applications in Rice County were denied in 2025, against 13.6% statewide in Minnesota.
Affinity Plus, with 123 applications in 2025 and a denial rate of 12.2%.
The median mortgage application in Rice County in 2025 was for $205,000; the median property value on originated loans was $355,000.