Mortgage Lenders and Brokers in Watertown, 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
Watertown, Minnesota mortgage lenders include Old National BankOld National Bank301 Territorial St E, Watertown, MN 55388A+5.0 ★Texas Ratio: 4.98%, Citizens Alliance BankCitizens Alliance Bank200 Lewis Ave S, Watertown, MN 55388A5.0 ★Texas Ratio: 10.53%, Bell BankBell Bank1001 Broadway St, Alexandria, MN 56308A+5.0 ★Texas Ratio: 3.66%, HomeTown BankHomeTown Bank1600 Monroe Drive, Carver, MN 55315A+5.0 ★Texas Ratio: 3.53%, US Bank, N.A.US Bank, N.A.331 S Broadway Ave, Albert Lea, MN 56007A+5.0 ★Texas Ratio: 2.85%, Trustone Financial Credit UnionTrustone Financial Credit Union2772 E 82nd St, Bloomington, MN 55425 1365A+5.0 ★Texas Ratio: 4.56%, Luminate BankLuminate Bank208 W Front St, Claremont, MN 55924A5.0 ★Texas Ratio: 11.06%, Wells Fargo Bank NAWells Fargo Bank NA122 E Main St, Albert Lea, MN 56007A+5.0 ★Texas Ratio: 5.36%, Cortrust BankCortrust Bank2850 Cutters Grove Ave, Anoka, MN 55303A+5.0 ★Texas Ratio: 5.11%, and Blaze Credit UnionBlaze Credit Union10 Northtown Dr NE, Blaine, MN 55434 1033A5.0 ★Texas Ratio: 6.19%. 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 Watertown, Minnesota in 2025, as reported under the federal Home Mortgage Disclosure Act. No lender pays for a higher spot. Lenders based in Watertown 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 Watertown, Minnesota
Market share is the lender's share of all home loans closed in Watertown, 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 Watertown 301 Territorial St E, Watertown, MN 55388 A+5.0 ★Texas Ratio: 4.98% |
Conventional, Jumbo, HELOC | 5 +5 HELOCs |
4% | 100% | $675,000 | View |
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1 office in Watertown 200 Lewis Ave S, Watertown, MN 55388 A5.0 ★Texas Ratio: 10.53% |
Conventional | 1 | 0.8% | 100% | $105,000 | View |
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1001 Broadway St, Alexandria, MN 56308 A+5.0 ★Texas Ratio: 3.66% |
Conventional, FHA, HELOC | 6 +3 HELOCs |
4.8% | 100% | $215,000 | View |
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1600 Monroe Drive, Carver, MN 55315 A+5.0 ★Texas Ratio: 3.53% |
Conventional | 5 | 4% | 100% | $511,000 | View |
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331 S Broadway Ave, Albert Lea, MN 56007 A+5.0 ★Texas Ratio: 2.85% |
Conventional, Jumbo, HELOC | 4 +4 HELOCs |
3.2% | 80% | $347,500 | View |
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2772 E 82nd St, Bloomington, MN 55425 1365 A+5.0 ★Texas Ratio: 4.56% |
Conventional, HELOC | 3 +2 HELOCs |
2.4% | 60% | $198,333 | View |
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208 W Front St, Claremont, MN 55924 A5.0 ★Texas Ratio: 11.06% |
Conventional, FHA | 3 | 2.4% | 100% | $331,666 | View |
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122 E Main St, Albert Lea, MN 56007 A+5.0 ★Texas Ratio: 5.36% |
Conventional | 3 | 2.4% | 75% | $305,000 | View |
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2850 Cutters Grove Ave, Anoka, MN 55303 A+5.0 ★Texas Ratio: 5.11% |
Conventional | 3 | 2.4% | 100% | $101,666 | View |
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10 Northtown Dr NE, Blaine, MN 55434 1033 A5.0 ★Texas Ratio: 6.19% |
Conventional | 3 | 2.4% | 75% | $141,666 | View |
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11660 Theatre Dr N, Champlin, MN 55316 A5.0 ★Texas Ratio: 13.85% |
Conventional, VA | 2 | 1.6% | 100% | $315,000 | View |
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1719 W Main St, Albert Lea, MN 56007 4385 A+5.0 ★Texas Ratio: 4.41% |
Conventional | 2 | 1.6% | 100% | $180,000 | View |
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143 W Clark St, Albert Lea, MN 56007 A+5.0 ★Texas Ratio: 3.32% |
Conventional, HELOC | 1 +1 HELOCs |
0.8% | 100% | $295,000 | View |
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14985 Glazier Ave, Apple Valley, MN 55124 |
Conventional, HELOC | 1 +1 HELOCs |
0.8% | 100% | $135,000 | View |
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15103 Cedar Ave, Apple Valley, MN 55124 A+5.0 ★Texas Ratio: 3.68% |
Conventional, Jumbo | 1 | 0.8% | 100% | $1,755,000 | View |
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4050 Coon Rapids Blvd NW, Coon Rapids, MN 55433 A+5.0 ★Texas Ratio: 3.27% |
Conventional | 1 | 0.8% | 100% | $85,000 | View |
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104 Avon Ave N, Avon, MN 56310 A+5.0 ★Texas Ratio: 0.00% |
Conventional | 1 | 0.8% | 100% | $655,000 | View |
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7831 E Bush Lake Rd, Edina, MN 55439 A+5.0 ★Texas Ratio: 3.43% |
Conventional | 1 | 0.8% | 100% | $215,000 | View |
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715 Crossroads Campus Dr NE, Buffalo, MN 55313 5074 A+5.0 ★Texas Ratio: 1.13% |
Conventional | 1 | 0.8% | 50% | $345,000 | View |
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2100 Blaisdell Ave, Minneapolis, MN 55404 A5.0 ★Texas Ratio: 9.43% |
Conventional | 1 | 0.8% | 100% | $205,000 | View |
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11800 Aberdeen St Ne, Blaine, MN 55449 C+4.1 ★Texas Ratio: 26.29% |
Conventional | 1 | 0.8% | 100% | $65,000 | View |
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7101 West 78th Street, Bloomington, MN 55420 A+5.0 ★Texas Ratio: 2.36% |
Conventional | 1 | 0.8% | 100% | $355,000 | 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 | |
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900 American Blvd W, Bloomington, MN 55420 A5.0 ★Texas Ratio: 6.54% |
HELOC | 0 +1 HELOCs |
0% | n/a | View | |
Summit Mortgage Corporation
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Conventional | 1 | 0.8% | 33.3% | $285,000 | |
Bremer Bank NA
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HELOC | 0 +2 HELOCs |
0% | n/a | ||
United Wholesale Mortgage
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Conventional, FHA, VA | 11 | 8.7% | 100% | $345,909 | |
Rocket Mortgage
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Conventional, FHA | 8 | 6.3% | 66.7% | $258,750 | |
Newrez LLC
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Conventional, VA | 6 | 4.8% | 85.7% | $245,000 | |
Pennymac Loan Services LLC
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Conventional | 4 | 3.2% | 80% | $322,500 | |
Fairway Independent Mort Corp
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Conventional, FHA | 4 | 3.2% | 100% | $312,500 | |
CrossCountry Mortgage, LLC
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Conventional, FHA | 3 | 2.4% | 100% | $298,333 | |
Lower, LLC
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Conventional, FHA | 3 | 2.4% | 100% | $235,000 | |
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A+5.0 ★Texas Ratio: 4.11% |
Conventional | 2 | 1.6% | 100% | $595,000 | View |
Primelending
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Conventional | 2 | 1.6% | 100% | $115,000 | |
Prosperity Home Mortgage, LLC
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Conventional, FHA | 2 | 1.6% | 100% | $320,000 | |
New American Funding, LLC.
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Conventional, FHA | 2 | 1.6% | 100% | $275,000 | |
21St Mortgage
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Conventional | 2 | 1.6% | 20% | $70,000 | |
Guaranteed Rate, Inc.
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Conventional | 1 | 0.8% | 100% | $255,000 | |
Residential Wholesale Mortgage
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Conventional | 1 | 0.8% | 100% | $225,000 | |
Freedom Mortgage Corporation
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VA | 1 | 0.8% | 100% | $305,000 | |
Equity Prime Mortgage LLC
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FHA | 1 | 0.8% | 100% | $365,000 | |
Triad Financial Services, Inc.
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Conventional | 1 | 0.8% | 25% | $75,000 | |
Synergy One Lending, Inc.
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Conventional | 1 | 0.8% | 100% | $365,000 | |
AdvantageFirst Lending Inc
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Conventional | 1 | 0.8% | 100% | $315,000 | |
American Financial Network, Inc.
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FHA | 1 | 0.8% | 100% | $275,000 | |
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A+5.0 ★Texas Ratio: 5.05% |
Conventional | 1 | 0.8% | 100% | $295,000 | View |
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A5.0 ★Texas Ratio: 8.47% |
Conventional | 1 | 0.8% | 100% | $635,000 | View |
Discover Bank
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Conventional | 1 | 0.8% | 33.3% | $55,000 | |
Gate City Bank
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Conventional | 1 | 0.8% | 100% | $305,000 | |
Bay Equity LLC
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Conventional | 1 | 0.8% | 100% | $325,000 | |
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A+5.0 ★Texas Ratio: 1.10% |
Conventional | 1 | 0.8% | 100% | $245,000 | View |
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A+5.0 ★Texas Ratio: 2.20% |
Conventional | 1 | 0.8% | 100% | $325,000 | View |
Nations Direct Mortgage, LLC
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Conventional | 1 | 0.8% | 100% | $305,000 | |
Mutual of Omaha Mortgage
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Conventional | 1 | 0.8% | 100% | $335,000 | |
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A+5.0 ★Texas Ratio: 2.14% |
Conventional | 1 | 0.8% | 100% | $265,000 | View |
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A4.8 ★Texas Ratio: 2.45% |
Conventional | 1 | 0.8% | 100% | $705,000 | View |
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C+4.1 ★Texas Ratio: 26.29% |
Conventional | 1 | 0.8% | 100% | $85,000 | View |
Carrington Mortgage Services LLC
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FHA | 1 | 0.8% | 50% | $265,000 | |
Mason-McDuffie Mortgage Corporation
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USDA | 1 | 0.8% | 100% | $255,000 | |
Spring Eq, LLC
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Conventional | 1 | 0.8% | 50% | $85,000 | |
Plaza Home Mortgage, Inc
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Conventional | 1 | 0.8% | 100% | $305,000 | |
Ark-La-Tex Financial Services LLC
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Conventional | 1 | 0.8% | 100% | $275,000 | |
Village Capital & Investment
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VA, Jumbo | 1 | 0.8% | 100% | $845,000 | |
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A+5.0 ★Texas Ratio: 5.44% |
HELOC | 0 +1 HELOCs |
0% | n/a | View | |
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C3.9 ★Texas Ratio: 27.97% |
HELOC | 0 +1 HELOCs |
0% | 0% | View | |
Navy Federal Credit Union
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HELOC | 0 +1 HELOCs |
0% | n/a |
Watertown 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 Watertown, Minnesota
Looking for mortgage lenders near me or mortgage brokers near me in Watertown? The list below shows the banks, credit unions and mortgage brokers that closed home loans in Watertown in 2025, with lenders based there listed first.
Types of Mortgage Lenders in Watertown, MN
Use these to narrow the list above. Each category shows how many Watertown, MN lenders fit and what that kind of lender is usually best for.
Who Lends in Watertown, MN
Independent mortgage companies closed 52.4 percent of home loans in Watertown, Minnesota in 2025, banks 38.9 percent and credit unions 8.7 percent. Summit Mortgage Corporation was the largest mortgage company, Old National Bank the largest bank and Trustone Financial Credit Union the largest credit union. Among lenders headquartered in Minnesota, Citizens Alliance Bank led with 1 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 Watertown, MN
By home loans closed in 2025, Old National Bank was the largest mortgage lender in Watertown, Minnesota with 5 loans, about 4 percent of the market. The largest lender headquartered in Minnesota was Citizens Alliance Bank with 1 loans. Source: Home Mortgage Disclosure Act data for 2025, published by the FFIEC and CFPB.
12 lenders closed FHA loans in Watertown, Minnesota in 2025, led by Luminate Bank with 2. 5 lenders closed VA loans, led by United Wholesale Mortgage, 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. 28 banks and 9 credit unions closed home loans in Watertown, Minnesota in 2025, alongside 30 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 Watertown, 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 Watertown, 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 Watertown. 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.
