Mortgage Lenders and Brokers in Backus, 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
Backus, Minnesota mortgage lenders include US Bank, N.A.US Bank, N.A.331 S Broadway Ave, Albert Lea, MN 56007A+5.0 ★Texas Ratio: 2.85%, Luminate BankLuminate Bank208 W Front St, Claremont, MN 55924A5.0 ★Texas Ratio: 11.06%, Blaze Credit UnionBlaze Credit Union10 Northtown Dr NE, Blaine, MN 55434 1033A5.0 ★Texas Ratio: 6.19%, Granite BankGranite Bank11660 Theatre Dr N, Champlin, MN 55316A5.0 ★Texas Ratio: 13.85%, American National Bank of MinnesotaAmerican National Bank of Minnesota512 30th Ave E, Alexandria, MN 56308A5.0 ★Texas Ratio: 8.08%, Frandsen Bank & TrustFrandsen Bank & Trust410 2nd St W, Ada, MN 56510A+5.0 ★Texas Ratio: 5.91%, Old National BankOld National Bank101 Minnesota Ave N, Aitkin, MN 56431A+5.0 ★Texas Ratio: 4.98%, National Bank of CommerceNational Bank of Commerce22 1st St Ne, Bagley, MN 56621A+5.0 ★Texas Ratio: 5.00%, Merchants Bank, National AssociationMerchants Bank, National Association7300 147th St W, Apple Valley, MN 55124A+5.0 ★Texas Ratio: 3.28%, and BankwestBankwest311 10th Ave S, Buffalo, MN 55313A+5.0 ★Texas Ratio: 3.09%. 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 Backus, Minnesota in 2025, as reported under the federal Home Mortgage Disclosure Act. No lender pays for a higher spot. Lenders based in Backus 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 Backus, Minnesota
Market share is the lender's share of all home loans closed in Backus, 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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331 S Broadway Ave, Albert Lea, MN 56007 A+5.0 ★Texas Ratio: 2.85% |
Conventional, HELOC | 6 +1 HELOCs |
9.2% | 85.7% | $198,333 | View |
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208 W Front St, Claremont, MN 55924 A5.0 ★Texas Ratio: 11.06% |
Conventional | 5 | 7.7% | 100% | $103,000 | View |
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10 Northtown Dr NE, Blaine, MN 55434 1033 A5.0 ★Texas Ratio: 6.19% |
Conventional, HELOC | 2 +1 HELOCs |
3.1% | 100% | $195,000 | View |
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11660 Theatre Dr N, Champlin, MN 55316 A5.0 ★Texas Ratio: 13.85% |
Conventional | 2 | 3.1% | 100% | $80,000 | View |
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512 30th Ave E, Alexandria, MN 56308 A5.0 ★Texas Ratio: 8.08% |
Conventional | 2 | 3.1% | 100% | $190,000 | View |
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410 2nd St W, Ada, MN 56510 A+5.0 ★Texas Ratio: 5.91% |
Conventional | 2 | 3.1% | 100% | $485,000 | View |
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101 Minnesota Ave N, Aitkin, MN 56431 A+5.0 ★Texas Ratio: 4.98% |
Conventional, HELOC | 1 +1 HELOCs |
1.5% | 100% | $345,000 | View |
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22 1st St Ne, Bagley, MN 56621 A+5.0 ★Texas Ratio: 5.00% |
Conventional | 1 | 1.5% | 100% | $375,000 | View |
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7300 147th St W, Apple Valley, MN 55124 A+5.0 ★Texas Ratio: 3.28% |
Conventional | 1 | 1.5% | 100% | $215,000 | View |
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311 10th Ave S, Buffalo, MN 55313 A+5.0 ★Texas Ratio: 3.09% |
Conventional | 1 | 1.5% | 100% | $765,000 | View |
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1001 Broadway St, Alexandria, MN 56308 A+5.0 ★Texas Ratio: 3.66% |
Conventional | 1 | 1.5% | 100% | $375,000 | View |
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2772 E 82nd St, Bloomington, MN 55425 1365 A+5.0 ★Texas Ratio: 4.56% |
Conventional | 1 | 1.5% | 100% | $175,000 | View |
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9741 Lyndale Ave S, Bloomington, MN 55420 A+5.0 ★Texas Ratio: 1.58% |
Conventional | 1 | 1.5% | 100% | $55,000 | View |
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641 Railroad Ave, Albany, MN 56307 A+5.0 ★Texas Ratio: 1.40% |
Conventional | 1 | 1.5% | 100% | $325,000 | View |
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13735 Round Lake Blvd NW, Andover, MN 55304 A+5.0 ★Texas Ratio: 5.40% |
Conventional | 1 | 1.5% | 100% | $245,000 | View |
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700 Paul Bunyan Dr Nw, Bemidji, MN 56601 A5.0 ★Texas Ratio: 6.75% |
Conventional | 1 | 1.5% | 100% | $515,000 | View |
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101 Old Town Rd, Elko New Market, MN 55054 A+5.0 ★Texas Ratio: 0.00% |
Conventional | 1 | 1.5% | 100% | $605,000 | View |
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715 Crossroads Campus Dr NE, Buffalo, MN 55313 5074 A+5.0 ★Texas Ratio: 1.13% |
Conventional | 1 | 1.5% | 100% | $235,000 | View |
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2850 Cutters Grove Ave, Anoka, MN 55303 A+5.0 ★Texas Ratio: 5.11% |
Conventional | 1 | 1.5% | 100% | $175,000 | View |
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730 Humboldt Dr, Big Lake, MN 55309 A+5.0 ★Texas Ratio: 0.00% |
Conventional | 1 | 1.5% | 100% | $165,000 | View |
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3313 Highway 29 S, Alexandria, MN 56308 A-5.0 ★Texas Ratio: 15.55% |
Conventional | 1 | 1.5% | 100% | $225,000 | View |
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1719 W Main St, Albert Lea, MN 56007 4385 A+5.0 ★Texas Ratio: 4.41% |
HELOC | 0 +2 HELOCs |
0% | n/a | View | |
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14986 Lynwood Dr, Baxter, MN 56425 A+5.0 ★Texas Ratio: 4.01% |
HELOC | 0 +2 HELOCs |
0% | n/a | View | |
Servion
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Conventional | 1 | 1.5% | 100% | $405,000 | |
Rocket Mortgage
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Conventional, FHA | 6 | 9.2% | 85.7% | $150,000 | |
Plaza Home Mortgage, Inc
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Conventional, USDA | 3 | 4.6% | 75% | $145,000 | |
Everett Financial, Inc.
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Conventional, FHA | 2 | 3.1% | 100% | $170,000 | |
Newrez LLC
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Conventional | 2 | 3.1% | 100% | $280,000 | |
loanDepot.com LLC
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Conventional, FHA | 2 | 3.1% | 66.7% | $335,000 | |
United Trust Bank
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VA | 2 | 3.1% | 100% | $425,000 | |
Paramount Residential Mortgage
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FHA, VA | 2 | 3.1% | 100% | $245,000 | |
Guaranteed Rate Affinity, LLC
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Conventional | 1 | 1.5% | 100% | $155,000 | |
Guaranteed Rate, Inc.
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FHA | 1 | 1.5% | 100% | $345,000 | |
Goodleap, LLC
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FHA | 1 | 1.5% | 50% | $125,000 | |
CrossCountry Mortgage, LLC
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FHA | 1 | 1.5% | 100% | $245,000 | |
Compeer Financial
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Conventional | 1 | 1.5% | 100% | $525,000 | |
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D3.3 ★Texas Ratio: 35.11% |
Conventional | 1 | 1.5% | 100% | $355,000 | View |
New Day Financial, LLC.
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VA | 1 | 1.5% | 100% | $505,000 | |
American Pacific Mortgage Corporation
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FHA | 1 | 1.5% | 100% | $375,000 | |
Prosperity Home Mortgage, LLC
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Conventional | 1 | 1.5% | 50% | $365,000 | |
Fairway Independent Mort Corp
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Conventional | 1 | 1.5% | 100% | $105,000 | |
21St Mortgage
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Conventional | 1 | 1.5% | 100% | $175,000 | |
Navy Federal Credit Union
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HELOC | 0 +1 HELOCs |
0% | 0% |
Backus 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 Backus, Minnesota
Looking for mortgage lenders near me or mortgage brokers near me in Backus? The list below shows the banks, credit unions and mortgage brokers that closed home loans in Backus in 2025, with lenders based there listed first.
Types of Mortgage Lenders in Backus, MN
Use these to narrow the list above. Each category shows how many Backus, MN lenders fit and what that kind of lender is usually best for.
Who Lends in Backus, MN
Independent mortgage companies closed 43.1 percent of home loans in Backus, Minnesota in 2025, banks 46.2 percent and credit unions 10.8 percent. Servion was the largest mortgage company, US Bank, N.A. the largest bank and Blaze Credit Union the largest credit union. Among lenders headquartered in Minnesota, Luminate Bank led with 5 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 Backus, MN
By home loans closed in 2025, US Bank, N.A. was the largest mortgage lender in Backus, Minnesota with 6 loans, about 9.2 percent of the market. The largest lender headquartered in Minnesota was Luminate Bank with 5 loans. Source: Home Mortgage Disclosure Act data for 2025, published by the FFIEC and CFPB.
8 lenders closed FHA loans in Backus, Minnesota in 2025, led by Rocket Mortgage with 1. 3 lenders closed VA loans, led by United Trust 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. 18 banks and 8 credit unions closed home loans in Backus, Minnesota in 2025, alongside 17 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 Backus, 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 Backus, 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 Backus. 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.
