Mortgage Lenders and Brokers in Silver Bay, 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
Silver Bay, Minnesota mortgage lenders include North Shore Federal Credit UnionNorth Shore Federal Credit Union85 Outer Dr, Silver Bay, MN 55614 1132A+5.0 ★Texas Ratio: 2.03%, Park State BankPark State Bank88 Outer Dr, Silver Bay, MN 55614A+5.0 ★Texas Ratio: 5.68%, Trustone Financial Credit UnionTrustone Financial Credit Union2772 E 82nd St, Bloomington, MN 55425 1365A+5.0 ★Texas Ratio: 4.56%, Bell BankBell Bank1001 Broadway St, Alexandria, MN 56308A+5.0 ★Texas Ratio: 3.66%, Two Harbors FCUTwo Harbors FCU801 11th St, Two Harbors, MN 55616A+5.0 ★Texas Ratio: 0.32%, Affinity Plus Federal Credit UnionAffinity Plus Federal Credit Union1719 W Main St, Albert Lea, MN 56007 4385A+5.0 ★Texas Ratio: 4.41%, Alerus Financial NAAlerus Financial NA143 W Clark St, Albert Lea, MN 56007A+5.0 ★Texas Ratio: 3.32%, North Shore Bank of CommerceNorth Shore Bank of Commerce4801 E Superior St, Duluth, MN 55804A+5.0 ★Texas Ratio: 1.35%, Granite BankGranite Bank11660 Theatre Dr N, Champlin, MN 55316A5.0 ★Texas Ratio: 13.85%, and Associated Bank NAAssociated Bank NA7760 France Ave S, Bloomington, MN 55435A+5.0 ★Texas Ratio: 3.45%. 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 Silver Bay, Minnesota in 2025, as reported under the federal Home Mortgage Disclosure Act. No lender pays for a higher spot. Lenders based in Silver Bay 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 Silver Bay, Minnesota
Market share is the lender's share of all home loans closed in Silver Bay, 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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85 Outer Dr, Silver Bay, MN 55614 1132 A+5.0 ★Texas Ratio: 2.03% |
Conventional | 22 | 35.5% | 84.6% | $173,636 | View |
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1 office in Silver Bay 88 Outer Dr, Silver Bay, MN 55614 A+5.0 ★Texas Ratio: 5.68% |
Conventional | 2 | 3.2% | 100% | $155,000 | View |
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2772 E 82nd St, Bloomington, MN 55425 1365 A+5.0 ★Texas Ratio: 4.56% |
Conventional | 3 | 4.8% | 100% | $191,666 | View |
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1001 Broadway St, Alexandria, MN 56308 A+5.0 ★Texas Ratio: 3.66% |
Conventional | 2 | 3.2% | 100% | $85,000 | View |
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801 11th St, Two Harbors, MN 55616 A+5.0 ★Texas Ratio: 0.32% |
Conventional | 2 | 3.2% | 100% | $70,000 | View |
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1719 W Main St, Albert Lea, MN 56007 4385 A+5.0 ★Texas Ratio: 4.41% |
Conventional | 2 | 3.2% | 100% | $120,000 | View |
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143 W Clark St, Albert Lea, MN 56007 A+5.0 ★Texas Ratio: 3.32% |
Conventional | 1 | 1.6% | 100% | $155,000 | View |
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4801 E Superior St, Duluth, MN 55804 A+5.0 ★Texas Ratio: 1.35% |
Conventional | 1 | 1.6% | 100% | $115,000 | View |
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11660 Theatre Dr N, Champlin, MN 55316 A5.0 ★Texas Ratio: 13.85% |
VA | 1 | 1.6% | 100% | $255,000 | View |
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7760 France Ave S, Bloomington, MN 55435 A+5.0 ★Texas Ratio: 3.45% |
Conventional | 1 | 1.6% | 100% | $135,000 | View |
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10 Northtown Dr NE, Blaine, MN 55434 1033 A5.0 ★Texas Ratio: 6.19% |
Conventional | 1 | 1.6% | 100% | $265,000 | View |
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108 Minnesota Ave N, Aitkin, MN 56431 1410 A5.0 ★Texas Ratio: 10.43% |
HELOC | 0 +1 HELOCs |
0% | 0% | View | |
Tradition Mortgage, LLC
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Conventional | 1 | 1.6% | 100% | $425,000 | |
Rocket Mortgage
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Conventional, FHA | 6 | 9.7% | 85.7% | $221,666 | |
Premier Mortgage Resources, LLC
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Conventional | 2 | 3.2% | 100% | $60,000 | |
Pennymac Loan Services LLC
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FHA | 2 | 3.2% | 100% | $205,000 | |
Mortgage Research Center
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VA | 2 | 3.2% | 100% | $160,000 | |
Plaza Home Mortgage, Inc
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Conventional, FHA | 2 | 3.2% | 100% | $125,000 | |
United Wholesale Mortgage
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Conventional | 1 | 1.6% | 33.3% | $205,000 | |
Nationstar Mortgage
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FHA | 1 | 1.6% | 100% | $145,000 | |
Megastar Finanacial Corp
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Conventional | 1 | 1.6% | 100% | $805,000 | |
Prosperity Home Mortgage, LLC
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Conventional | 1 | 1.6% | 100% | $195,000 | |
New American Funding, LLC.
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FHA | 1 | 1.6% | 100% | $225,000 | |
Lower, LLC
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VA | 1 | 1.6% | 100% | $225,000 | |
Wescom Central Credit Union
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Conventional | 1 | 1.6% | 100% | $365,000 | |
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A4.8 ★Texas Ratio: 2.45% |
Conventional | 1 | 1.6% | 100% | $315,000 | View |
American Neighborhood Mortgage Acceptance Company
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Conventional | 1 | 1.6% | 100% | $145,000 |
Silver Bay 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 Silver Bay, Minnesota
Looking for mortgage lenders near me or mortgage brokers near me in Silver Bay? The list below shows the banks, credit unions and mortgage brokers that closed home loans in Silver Bay in 2025, with lenders based there listed first.
Types of Mortgage Lenders in Silver Bay, MN
Use these to narrow the list above. Each category shows how many Silver Bay, MN lenders fit and what that kind of lender is usually best for.
Who Lends in Silver Bay, MN
Independent mortgage companies closed 35.5 percent of home loans in Silver Bay, Minnesota in 2025, banks 14.5 percent and credit unions 50 percent. Tradition Mortgage, LLC was the largest mortgage company, Park State Bank the largest bank and North Shore Federal Credit Union the largest credit union. Among lenders headquartered in Minnesota, North Shore Federal Credit Union led with 22 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 Silver Bay, MN
By home loans closed in 2025, North Shore Federal Credit Union was the largest mortgage lender in Silver Bay, Minnesota with 22 loans, about 35.5 percent of the market. Source: Home Mortgage Disclosure Act data for 2025, published by the FFIEC and CFPB.
5 lenders closed FHA loans in Silver Bay, Minnesota in 2025, led by Rocket Mortgage with 2. 3 lenders closed VA loans, led by Mortgage Research Center. 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. 7 banks and 7 credit unions closed home loans in Silver Bay, 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 Silver Bay, 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 Silver Bay, 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 Silver Bay. 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.
