Mortgage Lenders and Brokers in Elbow Lake, 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
Elbow Lake, Minnesota mortgage lenders include Star BankStar Bank21 Central Ave N, Elbow Lake, MN 56531B+4.7 ★Texas Ratio: 18.21%, BMO Harris Bank NABMO Harris Bank NA14 Central Ave S, Elbow Lake, MN 56531A+5.0 ★Texas Ratio: 3.54%, Bell BankBell Bank1001 Broadway St, Alexandria, MN 56308A+5.0 ★Texas Ratio: 3.66%, First Western Bank & TrustFirst Western Bank & Trust3313 Highway 29 S, Alexandria, MN 56308A-5.0 ★Texas Ratio: 15.55%, Wings Financial Credit UnionWings Financial Credit Union14985 Glazier Ave, Apple Valley, MN 55124, Alerus Financial NAAlerus Financial NA143 W Clark St, Albert Lea, MN 56007A+5.0 ★Texas Ratio: 3.32%, Old National BankOld National Bank101 Minnesota Ave N, Aitkin, MN 56431A+5.0 ★Texas Ratio: 4.98%, Merchants Bank, National AssociationMerchants Bank, National Association7300 147th St W, Apple Valley, MN 55124A+5.0 ★Texas Ratio: 3.28%, Trustone Financial Credit UnionTrustone Financial Credit Union2772 E 82nd St, Bloomington, MN 55425 1365A+5.0 ★Texas Ratio: 4.56%, and Magnifi Financial Credit UnionMagnifi Financial Credit Union641 Railroad Ave, Albany, MN 56307A+5.0 ★Texas Ratio: 1.40%. 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 Elbow Lake, Minnesota in 2025, as reported under the federal Home Mortgage Disclosure Act. No lender pays for a higher spot. Lenders based in Elbow Lake 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 Elbow Lake, Minnesota
Market share is the lender's share of all home loans closed in Elbow Lake, 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 Elbow Lake 21 Central Ave N, Elbow Lake, MN 56531 B+4.7 ★Texas Ratio: 18.21% |
Conventional | 3 | 5.5% | 100% | $65,000 | View |
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1 office in Elbow Lake 14 Central Ave S, Elbow Lake, MN 56531 A+5.0 ★Texas Ratio: 3.54% |
HELOC | 0 +2 HELOCs |
0% | n/a | View | |
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1001 Broadway St, Alexandria, MN 56308 A+5.0 ★Texas Ratio: 3.66% |
Conventional, FHA | 9 | 16.4% | 100% | $219,444 | View |
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3313 Highway 29 S, Alexandria, MN 56308 A-5.0 ★Texas Ratio: 15.55% |
Conventional, VA | 2 | 3.6% | 100% | $185,000 | View |
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14985 Glazier Ave, Apple Valley, MN 55124 |
Conventional, HELOC | 1 +1 HELOCs |
1.8% | 100% | $155,000 | View |
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143 W Clark St, Albert Lea, MN 56007 A+5.0 ★Texas Ratio: 3.32% |
Conventional | 1 | 1.8% | 100% | $405,000 | View |
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101 Minnesota Ave N, Aitkin, MN 56431 A+5.0 ★Texas Ratio: 4.98% |
Conventional | 1 | 1.8% | 100% | $185,000 | View |
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7300 147th St W, Apple Valley, MN 55124 A+5.0 ★Texas Ratio: 3.28% |
Conventional | 1 | 1.8% | 100% | $255,000 | View |
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2772 E 82nd St, Bloomington, MN 55425 1365 A+5.0 ★Texas Ratio: 4.56% |
Conventional | 1 | 1.8% | 100% | $185,000 | View |
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641 Railroad Ave, Albany, MN 56307 A+5.0 ★Texas Ratio: 1.40% |
Conventional | 1 | 1.8% | 100% | $65,000 | View |
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221 Main St N, Biwabik, MN 55708 A+5.0 ★Texas Ratio: 5.68% |
Conventional | 1 | 1.8% | 50% | $205,000 | View |
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1600 Monroe Drive, Carver, MN 55315 A+5.0 ★Texas Ratio: 3.53% |
Conventional | 1 | 1.8% | 100% | $205,000 | View |
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331 S Broadway Ave, Albert Lea, MN 56007 A+5.0 ★Texas Ratio: 2.85% |
HELOC | 0 +1 HELOCs |
0% | 0% | View | |
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405 E Main St, Anoka, MN 55303 A+5.0 ★Texas Ratio: 3.66% |
HELOC | 0 +1 HELOCs |
0% | 0% | View | |
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1719 W Main St, Albert Lea, MN 56007 4385 A+5.0 ★Texas Ratio: 4.41% |
HELOC | 0 +1 HELOCs |
0% | 33.3% | View | |
Summit Mortgage Corporation
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FHA, USDA | 2 | 3.6% | 100% | $180,000 | |
Bremer Bank NA
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Conventional | 1 | 1.8% | 100% | $95,000 | |
United Wholesale Mortgage
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Conventional, FHA, VA | 6 | 10.9% | 85.7% | $150,000 | |
Primelending
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Conventional, FHA | 5 | 9.1% | 100% | $83,000 | |
Premier Mortgage Resources, LLC
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Conventional, FHA | 3 | 5.5% | 60% | $208,333 | |
Rocket Mortgage
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Conventional, FHA, VA | 3 | 5.5% | 100% | $131,666 | |
Primary Residential Mortgage, INC.
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Conventional, USDA | 2 | 3.6% | 100% | $245,000 | |
Gate City Bank
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Conventional, FHA | 2 | 3.6% | 100% | $190,000 | |
Consumer Real Estate Finance Co DBA Society Mortgage
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USDA | 1 | 1.8% | 100% | $185,000 | |
Freedom Mortgage Corporation
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Conventional | 1 | 1.8% | 100% | $75,000 | |
Newrez LLC
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FHA | 1 | 1.8% | 100% | $135,000 | |
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D3.3 ★Texas Ratio: 35.11% |
Conventional | 1 | 1.8% | 100% | $305,000 | View |
Pennymac Loan Services LLC
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Conventional | 1 | 1.8% | 100% | $145,000 | |
AgCountry Farm Credit Services, FLCA
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Conventional | 1 | 1.8% | 100% | $25,000 | |
Nationstar Mortgage
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Conventional | 1 | 1.8% | 100% | $505,000 | |
Mortgage Research Center
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VA | 1 | 1.8% | 50% | $205,000 | |
Plaza Home Mortgage, Inc
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Conventional | 1 | 1.8% | 100% | $155,000 |
Elbow Lake 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 Elbow Lake, Minnesota
Looking for mortgage lenders near me or mortgage brokers near me in Elbow Lake? The list below shows the banks, credit unions and mortgage brokers that closed home loans in Elbow Lake in 2025, with lenders based there listed first.
Types of Mortgage Lenders in Elbow Lake, MN
Use these to narrow the list above. Each category shows how many Elbow Lake, MN lenders fit and what that kind of lender is usually best for.
Who Lends in Elbow Lake, MN
Independent mortgage companies closed 43.6 percent of home loans in Elbow Lake, Minnesota in 2025, banks 50.9 percent and credit unions 5.5 percent. Summit Mortgage Corporation was the largest mortgage company, Star Bank the largest bank and Wings Financial Credit Union the largest credit union. Among lenders headquartered in Minnesota, Star Bank led with 3 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 Elbow Lake, MN
By home loans closed in 2025, Star Bank was the largest mortgage lender in Elbow Lake, Minnesota with 3 loans, about 5.5 percent of the market. Source: Home Mortgage Disclosure Act data for 2025, published by the FFIEC and CFPB.
8 lenders closed FHA loans in Elbow Lake, Minnesota in 2025, led by Primelending with 3. 4 lenders closed VA loans, led by First Western Bank & Trust, and 3 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. 15 banks and 4 credit unions closed home loans in Elbow Lake, Minnesota in 2025, alongside 13 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 Elbow Lake, 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 Elbow Lake, 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 Elbow Lake. 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.
