Lender in Minnesota · HMDA 2025
Merchants Bank, N.A. mortgages in Minnesota
Merchants Bank, N.A.'s 2025 home-purchase and refinance lending in Minnesota, compared with all lenders in the state.
Merchants Bank, N.A. originated 621 owner-occupied single-family loans in Minnesota from 657 completed applications.
Its median conventional purchase loan costs were $3,960 versus $5,100 for all Minnesota lenders, at a median 30-year fixed rate of 6.525% (Minnesota: 6.625%).
Loans in MN
621
of 657 applications
Denial rate
3.1%
Purchase · MN 5.2%
Rate spread
+0.02 pts
Conv. · MN +0.15 pts
Loan amount
$255,000
Purchase · MN $305,000
By loan purpose
| Purpose | Applications | Loans | Denial rate | 30-yr rate* | Rate spread* | Loan costs* | Median loan |
|---|---|---|---|---|---|---|---|
| Home purchase | 553 | 531 | 3.1% | 6.525% | +0.02 pts | $3,960 | $255,000 |
| Refinance | 55 | 47 | 14.5% | 6.400% | −0.10 pts | $3,430 | $275,000 |
| Cash-out refinance | 49 | 43 | 12.2% | 6.525% | +0.00 pts | $4,010 | $195,000 |
*Conventional loans only; medians with at least 20 loans.
Minnesota counties where Merchants Bank, N.A. ranks in the top 25
| County | Rank | Loans | Market share |
|---|---|---|---|
| Winona County | 1 | 147 | 30.3% |
| Goodhue County | 2 | 48 | 7.3% |
| Fillmore County | 2 | 26 | 10.2% |
| Houston County | 2 | 26 | 10.9% |
| Lincoln County | 2 | 6 | 8.2% |
| Hubbard County | 4 | 15 | 7.1% |
| Traverse County | 4 | 2 | 6.1% |
| Lyon County | 5 | 13 | 5.0% |
| Kittson County | 6 | 2 | 5.7% |
| Olmsted County | 7 | 70 | 3.1% |
| Rice County | 8 | 26 | 3.3% |
| Wabasha County | 8 | 8 | 2.9% |
| Otter Tail County | 9 | 16 | 2.6% |
| Marshall County | 14 | 2 | 2.5% |
| Douglas County | 15 | 8 | 1.8% |
| Mille Lacs County | 15 | 8 | 1.8% |
| Mahnomen County | 16 | 1 | 1.9% |
| Wadena County | 17 | 2 | 1.5% |
| Polk County | 18 | 6 | 1.8% |
| Becker County | 18 | 4 | 1.0% |
| Dodge County | 19 | 5 | 1.6% |
| Cass County | 20 | 6 | 1.7% |
| Mower County | 20 | 6 | 1.2% |
| Todd County | 25 | 3 | 1.1% |
| Stevens County | 25 | 1 | 1.3% |
Source: FFIEC/CFPB HMDA 2025 public LAR. Statistical profile, not a review or offer. Methodology