Mortgage Lenders and Brokers in New Ulm, 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
New Ulm, Minnesota mortgage lenders include Frandsen Bank & TrustFrandsen Bank & Trust100 N Minnesota St, New Ulm, MN 56073A+5.0 ★Texas Ratio: 5.91%, Citizens Bank MinnesotaCitizens Bank Minnesota105 N Minnesota St, New Ulm, MN 56073A+5.0 ★Texas Ratio: 0.16%, Bank MidwestBank Midwest525 Center St, New Ulm, MN 56073A+5.0 ★Texas Ratio: 3.34%, Alliance BankAlliance Bank322 N Minnesota St, New Ulm, MN 56073A+5.0 ★Texas Ratio: 0.05%, SouthPoint Financial Credit UnionSouthPoint Financial Credit Union706 N German St, New Ulm, MN 56073 1102A+5.0 ★Texas Ratio: 1.13%, Luminate BankLuminate Bank208 W Front St, Claremont, MN 55924A5.0 ★Texas Ratio: 11.06%, Old National BankOld National Bank101 Minnesota Ave N, Aitkin, MN 56431A+5.0 ★Texas Ratio: 4.98%, Affinity Plus Federal Credit UnionAffinity Plus Federal Credit Union1719 W Main St, Albert Lea, MN 56007 4385A+5.0 ★Texas Ratio: 4.41%, HomeTown BankHomeTown Bank1600 Monroe Drive, Carver, MN 55315A+5.0 ★Texas Ratio: 3.53%, and Wells Fargo Bank NAWells Fargo Bank NA122 E Main St, Albert Lea, MN 56007A+5.0 ★Texas Ratio: 5.36%. 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 New Ulm, Minnesota in 2025, as reported under the federal Home Mortgage Disclosure Act. No lender pays for a higher spot. Lenders based in New Ulm 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 New Ulm, Minnesota
Market share is the lender's share of all home loans closed in New Ulm, 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 New Ulm 100 N Minnesota St, New Ulm, MN 56073 A+5.0 ★Texas Ratio: 5.91% |
Conventional | 31 | 12.2% | 96.9% | $117,258 | View |
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105 N Minnesota St, New Ulm, MN 56073 A+5.0 ★Texas Ratio: 0.16% |
Conventional | 30 | 11.8% | 89.7% | $149,333 | View |
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1 office in New Ulm 525 Center St, New Ulm, MN 56073 A+5.0 ★Texas Ratio: 3.34% |
Conventional | 13 | 5.1% | 100% | $168,846 | View |
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1 office in New Ulm 322 N Minnesota St, New Ulm, MN 56073 A+5.0 ★Texas Ratio: 0.05% |
Conventional | 11 | 4.3% | 91.7% | $130,454 | View |
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706 N German St, New Ulm, MN 56073 1102 A+5.0 ★Texas Ratio: 1.13% |
Conventional | 52 | 20.4% | 92.9% | $159,807 | View |
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208 W Front St, Claremont, MN 55924 A5.0 ★Texas Ratio: 11.06% |
Conventional, FHA | 7 | 2.7% | 100% | $192,142 | View |
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101 Minnesota Ave N, Aitkin, MN 56431 A+5.0 ★Texas Ratio: 4.98% |
Conventional, FHA | 4 | 1.6% | 100% | $322,500 | View |
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1719 W Main St, Albert Lea, MN 56007 4385 A+5.0 ★Texas Ratio: 4.41% |
Conventional | 4 | 1.6% | 100% | $162,500 | View |
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1600 Monroe Drive, Carver, MN 55315 A+5.0 ★Texas Ratio: 3.53% |
Conventional | 3 | 1.2% | 100% | $225,000 | View |
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122 E Main St, Albert Lea, MN 56007 A+5.0 ★Texas Ratio: 5.36% |
Conventional, FHA | 2 | 0.8% | 66.7% | $235,000 | View |
Minnesota Valley Federal Credit Union
100 Memorial View Ct, Mankato, MN 56001 |
Conventional | 2 | 0.8% | 66.7% | $95,000 | |
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15751 Emperor Ave, Apple Valley, MN 55124 A+5.0 ★Texas Ratio: 0.90% |
Conventional, HELOC | 1 +1 HELOCs |
0.4% | 100% | $75,000 | View |
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10 Northtown Dr NE, Blaine, MN 55434 1033 A5.0 ★Texas Ratio: 6.19% |
Conventional, HELOC | 1 +1 HELOCs |
0.4% | 100% | $115,000 | View |
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1001 Broadway St, Alexandria, MN 56308 A+5.0 ★Texas Ratio: 3.66% |
Conventional | 1 | 0.4% | 100% | $205,000 | View |
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45 Hassan St SE, Hutchinson, MN 55350 A+5.0 ★Texas Ratio: 4.19% |
Conventional | 1 | 0.4% | 100% | $135,000 | View |
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113 N Main St, Belview, MN 56214 A+5.0 ★Texas Ratio: 5.77% |
Conventional | 1 | 0.4% | 100% | $185,000 | View |
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2630 Bridge Ave, Albert Lea, MN 56007 A5.0 ★Texas Ratio: 12.61% |
Conventional | 1 | 0.4% | 100% | $165,000 | View |
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201 W Main St, Belle Plaine, MN 56011 A5.0 ★Texas Ratio: 8.50% |
Conventional | 1 | 0.4% | 50% | $45,000 | View |
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405 E Main St, Anoka, MN 55303 A+5.0 ★Texas Ratio: 3.66% |
HELOC | 0 +1 HELOCs |
0% | n/a | View | |
Bremer Bank NA
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Conventional | 1 | 0.4% | 100% | $355,000 | |
Servion
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Conventional | 1 | 0.4% | 50% | $255,000 | |
Summit Mortgage Corporation
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Conventional | 1 | 0.4% | 50% | $215,000 | |
United Wholesale Mortgage
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Conventional, FHA | 14 | 5.5% | 78.9% | $202,142 | |
Rocket Mortgage
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Conventional, FHA | 9 | 3.5% | 90% | $146,111 | |
Mortgage Research Center
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Conventional, VA | 8 | 3.1% | 80% | $265,000 | |
Pennymac Loan Services LLC
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Conventional, FHA, VA | 7 | 2.7% | 100% | $269,285 | |
CrossCountry Mortgage, LLC
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Conventional, FHA | 5 | 2% | 100% | $177,000 | |
Compeer Financial
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Conventional, Jumbo | 5 | 2% | 100% | $439,000 | |
Freedom Mortgage Corporation
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VA | 3 | 1.2% | 100% | $231,666 | |
Nationstar Mortgage
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Conventional | 3 | 1.2% | 100% | $55,000 | |
New American Funding, LLC.
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Conventional, FHA, VA | 3 | 1.2% | 100% | $205,000 | |
Primelending
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Conventional, FHA | 2 | 0.8% | 100% | $225,000 | |
Kind Lending, LLC
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Conventional | 2 | 0.8% | 100% | $255,000 | |
loanDepot.com LLC
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Conventional, FHA | 2 | 0.8% | 66.7% | $195,000 | |
Loanunited.Com, LLC
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Conventional, FHA | 2 | 0.8% | 100% | $210,000 | |
Iowa Bankers Mortgage Corporation
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Conventional, VA | 2 | 0.8% | 100% | $245,000 | |
Lower, LLC
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Conventional, HELOC | 1 +1 HELOCs |
0.4% | 100% | $125,000 | |
Consumer Real Estate Finance Co DBA Society Mortgage
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Conventional | 1 | 0.4% | 100% | $135,000 | |
Royal United Mortgage LLC
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Conventional | 1 | 0.4% | 100% | $55,000 | |
Equity Prime Mortgage LLC
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VA | 1 | 0.4% | 100% | $145,000 | |
Resicentral LLC
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VA | 1 | 0.4% | 100% | $225,000 | |
Guild Mortgage Company
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Conventional | 1 | 0.4% | 100% | $185,000 | |
Sun West Mortgage Company, Inc
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FHA | 1 | 0.4% | 100% | $225,000 | |
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B-3.5 ★Texas Ratio: 6.80% |
VA | 1 | 0.4% | 100% | $95,000 | View |
Planet Home Lending, LLC
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FHA | 1 | 0.4% | 100% | $195,000 | |
American Pacific Mortgage Corporation
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USDA | 1 | 0.4% | 100% | $195,000 | |
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A+5.0 ★Texas Ratio: 5.11% |
FHA | 1 | 0.4% | 100% | $295,000 | View |
Zillow Home Loans, LLC
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Conventional | 1 | 0.4% | 100% | $165,000 | |
Mutual of Omaha Mortgage
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FHA | 1 | 0.4% | 100% | $205,000 | |
Fairway Independent Mort Corp
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FHA | 1 | 0.4% | 100% | $265,000 | |
Thrivent Bank
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Conventional | 1 | 0.4% | 100% | $55,000 | |
21St Mortgage
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Conventional | 1 | 0.4% | 25% | $45,000 | |
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A5.0 ★Texas Ratio: 9.09% |
Conventional | 1 | 0.4% | 100% | $395,000 | View |
Spring Eq, LLC
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Conventional | 1 | 0.4% | 50% | $55,000 | |
Plaza Home Mortgage, Inc
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Conventional | 1 | 0.4% | 100% | $245,000 | |
Figure Lending LLC
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HELOC | 0 +1 HELOCs |
0% | n/a | ||
First International Bank & Trust
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HELOC | 0 +1 HELOCs |
0% | n/a | ||
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C3.9 ★Texas Ratio: 27.97% |
HELOC | 0 +1 HELOCs |
0% | n/a | View |
New Ulm 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 New Ulm, Minnesota
Looking for mortgage lenders near me or mortgage brokers near me in New Ulm? The list below shows the banks, credit unions and mortgage brokers that closed home loans in New Ulm in 2025, with lenders based there listed first.
Types of Mortgage Lenders in New Ulm, MN
Use these to narrow the list above. Each category shows how many New Ulm, MN lenders fit and what that kind of lender is usually best for.
Who Lends in New Ulm, MN
Independent mortgage companies closed 32.2 percent of home loans in New Ulm, Minnesota in 2025, banks 44.3 percent and credit unions 23.5 percent. Servion was the largest mortgage company, Frandsen Bank & Trust the largest bank and SouthPoint Financial Credit Union the largest credit union. Among lenders headquartered in Minnesota, Frandsen Bank & Trust led with 31 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 New Ulm, MN
By home loans closed in 2025, Frandsen Bank & Trust was the largest mortgage lender in New Ulm, Minnesota with 31 loans, about 12.2 percent of the market. Source: Home Mortgage Disclosure Act data for 2025, published by the FFIEC and CFPB.
Among lenders with meaningful volume in New Ulm, Minnesota, SouthPoint Financial Credit Union approved the highest share of completed applications in 2025 at 92.9 percent, against a 90.6 percent average for all lenders. Approval share reflects the applicants a lender attracts as much as its underwriting, so compare it alongside loan programs and median loan size. Source: Home Mortgage Disclosure Act data for 2025, published by the FFIEC and CFPB.
16 lenders closed FHA loans in New Ulm, Minnesota in 2025, led by United Wholesale Mortgage with 5. 8 lenders closed VA loans, led by Mortgage Research Center, 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. 21 banks and 6 credit unions closed home loans in New Ulm, Minnesota in 2025, alongside 31 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 New Ulm, 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 New Ulm, 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 New Ulm. 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.
