Largest lenders in Winona County
| # | Lender | Grade | Applications | Originated | Denial rate | Median rate |
|---|---|---|---|---|---|---|
| 1 | Merchants Bank | A | 421 | 383 | 2.9% | 5.99% |
| 2 | ALTRA Federal Credit Union | B | 239 | 208 | 2.1% | 6.60% |
| 3 | Affinity Plus | C | 53 | 37 | 17.0% | 6.75% |
| 4 | Wnb Financial | B | 45 | 38 | 2.2% | 7.09% |
| 5 | 21st Mortgage | F | 38 | 13 | 60.5% | 11.38% |
| 6 | Bell Bank | A | 38 | 32 | 7.9% | 7.00% |
| 7 | Triad Financial Services | D | 32 | 7 | 37.5% | 8.00% |
| 8 | United Shore Financial Services | B | 29 | 23 | 13.8% | 6.30% |
| 9 | Old National Bank | B | 25 | 16 | 20.0% | 6.36% |
| 10 | Marine Credit Union | F | 24 | 12 | 29.2% | 8.24% |
| 11 | Alerus Financial | B | 23 | 20 | 0.0% | 7.26% |
| 12 | U.S. Bank | D | 22 | 11 | 27.3% | 7.00% |
| 13 | Rocket Mortgage | C | 20 | 16 | 15.0% | 6.93% |
| 14 | Broker Solutions | D | 15 | 6 | 0.0% | 6.88% |
| 15 | Peoples State Bank of Plainview | A | 15 | 14 | 0.0% | — |
| 16 | Minnwest Bank | C | 14 | 11 | 14.3% | 7.00% |
| 17 | Wells Fargo Bank | B | 12 | 2 | 25.0% | 6.00% |
| 18 | Bremer Bank | B | 12 | 10 | 8.3% | 7.00% |
| 19 | Mayo Employees Federal Credit Union | C | 11 | 7 | 27.3% | 6.59% |
| 20 | Freedom Mortgage | B | 10 | 2 | 0.0% | 6.44% |
| 21 | CMG Mortgage | A | 9 | 6 | 0.0% | 6.25% |
| 22 | Compeer Financial, Flca | C | 9 | 7 | 11.1% | 7.00% |
| 23 | ESB Bank | – | 9 | 9 | 0.0% | — |
| 24 | Pennymac Loan Services | C | 8 | 5 | 12.5% | 6.25% |
| 25 | Spring Eq | D | 8 | 0 | 87.5% | — |
Best approval odds in Winona County
Lowest decision denial rate among lenders that decided at least 50 applications here in 2025.
| # | Lender | Decided | Decision denial rate |
|---|---|---|---|
| 1 | ALTRA Federal Credit Union | 221 | 2.3% |
| 2 | Merchants Bank | 399 | 3.0% |
What Winona County borrowers applied for
By loan purpose
By loan type
Why applications were denied
Winona County by year
| Year | Applications | Originated | Denial rate | Median rate | Median loan |
|---|---|---|---|---|---|
| 2023 | 1,259 | 973 | 8.7% | 6.53% | $115,000 |
| 2024 | 1,241 | 964 | 9.4% | 6.50% | $135,000 |
| 2025 | 1,393 | 1,051 | 10.8% | 6.53% | $135,000 |
Frequently asked questions
10.8% of applications in Winona County were denied in 2025, against 13.6% statewide in Minnesota.
Merchants Bank, with 421 applications in 2025 and a denial rate of 2.9%.
The median mortgage application in Winona County in 2025 was for $135,000; the median property value on originated loans was $255,000.