Mortgage Lenders and Brokers in Ada, Minnesota
Brian McKay
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iEditorial Disclosure
Editorial DisclosureLender lists come from federal HMDA loan data. Average rates come from our daily monitoring network. Editorial content is independent of any advertiser relationships.
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✓Fact Checked
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Loan Rates Last Updated and Verified: October 7, 2026
Ada, Minnesota mortgage lenders include Frandsen Bank & TrustFrandsen Bank & Trust410 2nd St W, Ada, MN 56510A+5.0 ★Texas Ratio: 5.91%, BMO Harris Bank NABMO Harris Bank NA412 E Main St, Ada, MN 56510A+5.0 ★Texas Ratio: 3.54%, American Federal BankAmerican Federal Bank201 E Main St S, Ada, MN 56510A+5.0 ★Texas Ratio: 0.00%, Granite BankGranite Bank11660 Theatre Dr N, Champlin, MN 55316A5.0 ★Texas Ratio: 13.85%, Bell BankBell Bank1001 Broadway St, Alexandria, MN 56308A+5.0 ★Texas Ratio: 3.66%, Affinity Plus Federal Credit UnionAffinity Plus Federal Credit Union1719 W Main St, Albert Lea, MN 56007 4385A+5.0 ★Texas Ratio: 4.41%, Bravera BankBravera Bank11102 57th St Ne, Albertville, MN 55301A+5.0 ★Texas Ratio: 5.48%, Wells Fargo Bank NAWells Fargo Bank NA122 E Main St, Albert Lea, MN 56007A+5.0 ★Texas Ratio: 5.36%, Wings Financial Credit UnionWings Financial Credit Union14985 Glazier Ave, Apple Valley, MN 55124, and United Wholesale Mortgage. Banks, credit unions and mortgage companies are listed together, with FHA, VA and local options flagged for quick comparison.
Lenders are ranked only by the number of home loans they closed in Ada, Minnesota in 2025, as reported under the federal Home Mortgage Disclosure Act. No lender pays for a higher spot. Lenders based in Ada are listed first, then lenders elsewhere in Minnesota, then lenders from other states that closed loans there. Banks and credit unions carry a MonitorBankRates health grade, star rating and Texas Ratio, so you can judge how financially sound they are. Mortgage companies have no deposits to rate, so compare their loan programs, median loan and borrower reviews instead. Compare at least three lenders and ask each for a written loan estimate before you choose.
Mortgage Lenders and Brokers in Ada, Minnesota
Market share is the lender's share of all home loans closed in Ada, Minnesota. Approval share is approvals divided by completed applications. Grade is the MonitorBankRates Health and Safety Grade, available for banks and credit unions only. Average loan is the lender's mean loan amount here.
| Lender | Programs | Loans closed | Market share | Approval share | Average loan | View |
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1 office in Ada 410 2nd St W, Ada, MN 56510 A+5.0 ★Texas Ratio: 5.91% |
Conventional | 7 | 21.9% | 70% | $126,428 | View |
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1 office in Ada 412 E Main St, Ada, MN 56510 A+5.0 ★Texas Ratio: 3.54% |
Conventional, HELOC | 1 +3 HELOCs |
3.1% | 50% | $335,000 | View |
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1 office in Ada 201 E Main St S, Ada, MN 56510 A+5.0 ★Texas Ratio: 0.00% |
Conventional | 1 | 3.1% | 100% | $635,000 | View |
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11660 Theatre Dr N, Champlin, MN 55316 A5.0 ★Texas Ratio: 13.85% |
Conventional, FHA, USDA | 5 | 15.6% | 100% | $99,000 | View |
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1001 Broadway St, Alexandria, MN 56308 A+5.0 ★Texas Ratio: 3.66% |
Conventional, VA | 2 | 6.2% | 100% | $215,000 | View |
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1719 W Main St, Albert Lea, MN 56007 4385 A+5.0 ★Texas Ratio: 4.41% |
Conventional | 1 | 3.1% | 100% | $35,000 | View |
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11102 57th St Ne, Albertville, MN 55301 A+5.0 ★Texas Ratio: 5.48% |
Conventional | 1 | 3.1% | 100% | $55,000 | View |
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122 E Main St, Albert Lea, MN 56007 A+5.0 ★Texas Ratio: 5.36% |
Conventional | 1 | 3.1% | 100% | $105,000 | View |
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14985 Glazier Ave, Apple Valley, MN 55124 |
Conventional | 1 | 3.1% | 100% | $195,000 | View |
United Wholesale Mortgage
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Conventional, FHA, VA | 3 | 9.4% | 100% | $148,333 | |
Rocket Mortgage
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Conventional | 1 | 3.1% | 50% | $45,000 | |
Freedom Mortgage Corporation
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FHA | 1 | 3.1% | 100% | $95,000 | |
CrossCountry Mortgage, LLC
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Conventional | 1 | 3.1% | 100% | $85,000 | |
loanDepot.com LLC
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FHA | 1 | 3.1% | 100% | $145,000 | |
Town and Country Credit Union
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Conventional | 1 | 3.1% | 100% | $25,000 | |
Gate City Bank
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FHA | 1 | 3.1% | 100% | $125,000 | |
New American Funding, LLC.
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FHA | 1 | 3.1% | 100% | $225,000 | |
Fairway Independent Mort Corp
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Conventional | 1 | 3.1% | 100% | $215,000 | |
First Community Credit Union
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Conventional | 1 | 3.1% | 100% | $195,000 | |
Figure Lending LLC
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HELOC | 0 +1 HELOCs |
0% | n/a |
Ada Mortgage Rate Trends
Daily average mortgage rates for Minnesota compared with the national average, updated every evening.
Mortgage Lenders and Mortgage Brokers Near Me in Ada, Minnesota
Looking for mortgage lenders near me or mortgage brokers near me in Ada? The list below shows the banks, credit unions and mortgage brokers that closed home loans in Ada in 2025, with lenders based there listed first.
Types of Mortgage Lenders in Ada, MN
Use these to narrow the list above. Each category shows how many Ada, MN lenders fit and what that kind of lender is usually best for.
Who Lends in Ada, MN
Independent mortgage companies closed 28.1 percent of home loans in Ada, Minnesota in 2025, banks 59.4 percent and credit unions 12.5 percent. United Wholesale Mortgage was the largest mortgage company, Frandsen Bank & Trust the largest bank and Affinity Plus Federal Credit Union the largest credit union. Among lenders headquartered in Minnesota, Frandsen Bank & Trust led with 7 loans.
How to Read This List
A high approval share with a small median loan usually points to a lender comfortable with first time and FHA borrowers. A large median loan with conventional and jumbo programs points to a move up and jumbo specialist. The health grade says whether a bank or credit union is financially sound; it says nothing about service, which is what the reviews below are for.
Title or escrow companies usually handle closings in Minnesota. State deed tax of 0.33 percent of the price (seller pays) and a mortgage registry tax of 0.23 percent of the mortgage amount (borrower pays); Hennepin and Ramsey counties add 0.01 percent to each through 2027.
More Minnesota Mortgage Lender Pages
Frequently Asked Questions About Mortgage Lenders in Ada, MN
By home loans closed in 2025, Frandsen Bank & Trust was the largest mortgage lender in Ada, Minnesota with 7 loans, about 21.9 percent of the market. Source: Home Mortgage Disclosure Act data for 2025, published by the FFIEC and CFPB.
6 lenders closed FHA loans in Ada, Minnesota in 2025, led by Granite Bank with 1. 2 lenders closed VA loans, led by Bell Bank, and 1 closed USDA rural loans. Use the FHA and VA filters above the table to see only those lenders; FHA loans allow 3.5 percent down and lower credit scores, VA loans need no down payment for eligible veterans. Source: Home Mortgage Disclosure Act data for 2025, published by the FFIEC and CFPB.
Yes. 8 banks and 4 credit unions closed home loans in Ada, Minnesota in 2025, alongside 8 independent mortgage companies and brokers. Banks and credit unions carry a MonitorBankRates health grade. Mortgage companies are not deposit institutions, so they have no health grade; their HMDA figures and borrower reviews stand in. Source: Home Mortgage Disclosure Act data for 2025, published by the FFIEC and CFPB.
Lenders are ranked only by the number of home loans they closed in Ada, Minnesota during 2025 as reported under the federal Home Mortgage Disclosure Act. No lender pays to be listed or to rank higher, and reviews do not change the order. Counts cover first and second lien loans on one to four unit homes for purchase, refinance and home improvement; home equity lines are counted separately.
Methodology and Sources
Lender rankings use the loan level records that lenders file under the Home Mortgage Disclosure Act, published by the FFIEC and the Consumer Financial Protection Bureau for the 2025 reporting year. Counts include originated first and subordinate lien loans on one to four unit homes in Ada, Minnesota for purchase, refinance and other purposes; home equity lines of credit are counted separately and reverse mortgages and business purpose loans are excluded. Approval share is originations plus approved but not accepted applications divided by all completed applications (withdrawn and incomplete files are excluded). Lender type comes from the lender's federal regulator and the FFIEC National Information Center. City figures use the Census tracts that make up Ada. Health grades are MonitorBankRates data and are current as of the date shown. Lenders below the HMDA reporting thresholds do not appear. MonitorBankRates receives no payment for placement on this page. Last updated October 8, 2026.
