Mortgage Lenders and Brokers in Waterville, 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
Waterville, Minnesota mortgage lenders include Frandsen Bank & TrustFrandsen Bank & Trust320 Main St E, Waterville, MN 56096A+5.0 ★Texas Ratio: 5.91%, Affinity Plus Federal Credit UnionAffinity Plus Federal Credit Union1719 W Main St, Albert Lea, MN 56007 4385A+5.0 ★Texas Ratio: 4.41%, MinnStar Bank National AssociationMinnStar Bank National Association202 N Main St, Lake Crystal, MN 56055A+5.0 ★Texas Ratio: 3.00%, First State Bank of Le CenterFirst State Bank of Le Center239 Main St, Henderson, MN 56044A+5.0 ★Texas Ratio: 5.25%, Old National BankOld National Bank101 Minnesota Ave N, Aitkin, MN 56431A+5.0 ★Texas Ratio: 4.98%, Luminate BankLuminate Bank208 W Front St, Claremont, MN 55924A5.0 ★Texas Ratio: 11.06%, Minnwest BankMinnwest Bank113 N Main St, Belview, MN 56214A+5.0 ★Texas Ratio: 5.77%, Minnesota Valley Federal Credit UnionMinnesota Valley Federal Credit Union100 Memorial View Ct, Mankato, MN 56001, Blaze Credit UnionBlaze Credit Union10 Northtown Dr NE, Blaine, MN 55434 1033A5.0 ★Texas Ratio: 6.19%, and Castle Rock BankCastle Rock Bank27925 Danville Avenue, Castle Rock, MN 55010A+5.0 ★Texas Ratio: 0.04%. 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 Waterville, Minnesota in 2025, as reported under the federal Home Mortgage Disclosure Act. No lender pays for a higher spot. Lenders based in Waterville 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 Waterville, Minnesota
Market share is the lender's share of all home loans closed in Waterville, 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 Waterville 320 Main St E, Waterville, MN 56096 A+5.0 ★Texas Ratio: 5.91% |
Conventional | 3 | 4% | 100% | $185,000 | View |
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1719 W Main St, Albert Lea, MN 56007 4385 A+5.0 ★Texas Ratio: 4.41% |
Conventional | 5 | 6.7% | 83.3% | $89,000 | View |
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202 N Main St, Lake Crystal, MN 56055 A+5.0 ★Texas Ratio: 3.00% |
Conventional, Jumbo | 3 | 4% | 100% | $551,666 | View |
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239 Main St, Henderson, MN 56044 A+5.0 ★Texas Ratio: 5.25% |
Conventional | 2 | 2.7% | 100% | $105,000 | View |
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101 Minnesota Ave N, Aitkin, MN 56431 A+5.0 ★Texas Ratio: 4.98% |
Conventional | 2 | 2.7% | 100% | $290,000 | View |
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208 W Front St, Claremont, MN 55924 A5.0 ★Texas Ratio: 11.06% |
Conventional | 2 | 2.7% | 100% | $340,000 | View |
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113 N Main St, Belview, MN 56214 A+5.0 ★Texas Ratio: 5.77% |
Conventional | 2 | 2.7% | 100% | $370,000 | View |
Minnesota Valley Federal Credit Union
100 Memorial View Ct, Mankato, MN 56001 |
Conventional | 2 | 2.7% | 100% | $390,000 | |
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10 Northtown Dr NE, Blaine, MN 55434 1033 A5.0 ★Texas Ratio: 6.19% |
Conventional, HELOC | 1 +1 HELOCs |
1.3% | 100% | $105,000 | View |
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27925 Danville Avenue, Castle Rock, MN 55010 A+5.0 ★Texas Ratio: 0.04% |
Conventional | 1 | 1.3% | 100% | $355,000 | View |
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701 Ash St Ne, Lonsdale, MN 55046 A5.0 ★Texas Ratio: 13.86% |
Conventional | 1 | 1.3% | 100% | $95,000 | View |
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155 1st Ave SW, Rochester, MN 55902 A+5.0 ★Texas Ratio: 0.16% |
Conventional | 1 | 1.3% | 100% | $225,000 | View |
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1600 Monroe Drive, Carver, MN 55315 A+5.0 ★Texas Ratio: 3.53% |
Conventional | 1 | 1.3% | 100% | $135,000 | View |
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2630 Bridge Ave, Albert Lea, MN 56007 A5.0 ★Texas Ratio: 12.61% |
Conventional | 1 | 1.3% | 100% | $115,000 | View |
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411 N Main St, Altura, MN 55910 A-4.7 ★Texas Ratio: 9.93% |
Conventional | 1 | 1.3% | 100% | $105,000 | View |
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331 S Broadway Ave, Albert Lea, MN 56007 A+5.0 ★Texas Ratio: 2.85% |
HELOC | 0 +2 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% | n/a | View | |
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7510 147th St W, Apple Valley, MN 55124 A+5.0 ★Texas Ratio: 4.14% |
HELOC | 0 +1 HELOCs |
0% | n/a | View | |
United Wholesale Mortgage
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Conventional, FHA, VA | 8 | 10.7% | 88.9% | $288,750 | |
Rocket Mortgage
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Conventional | 7 | 9.3% | 77.8% | $166,428 | |
CrossCountry Mortgage, LLC
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Conventional, FHA, USDA | 4 | 5.3% | 100% | $275,000 | |
loanDepot.com LLC
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Conventional | 4 | 5.3% | 100% | $270,000 | |
Prosperity Home Mortgage, LLC
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Conventional, FHA | 3 | 4% | 100% | $145,000 | |
Guaranteed Rate, Inc.
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Conventional | 2 | 2.7% | 100% | $260,000 | |
Cardinal Financial Company, Li
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Conventional | 2 | 2.7% | 66.7% | $155,000 | |
Fairway Independent Mort Corp
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Conventional | 2 | 2.7% | 100% | $130,000 | |
Primelending
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USDA | 1 | 1.3% | 100% | $235,000 | |
SWBC Mortgage Corporation
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Conventional | 1 | 1.3% | 100% | $295,000 | |
Everett Financial, Inc.
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VA | 1 | 1.3% | 100% | $265,000 | |
Lakeview Loan Servicing, LLC
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FHA | 1 | 1.3% | 100% | $145,000 | |
Newrez LLC
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USDA | 1 | 1.3% | 50% | $255,000 | |
Quorum Federal Credit Union
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Conventional | 1 | 1.3% | 100% | $175,000 | |
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A+5.0 ★Texas Ratio: 1.10% |
Conventional | 1 | 1.3% | 100% | $315,000 | View |
T2 Financial LLC
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Conventional | 1 | 1.3% | 100% | $375,000 | |
Iowa Bankers Mortgage Corporation
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Conventional | 1 | 1.3% | 100% | $125,000 | |
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C3.9 ★Texas Ratio: 27.97% |
Conventional | 1 | 1.3% | 100% | $275,000 | View |
Mutual of Omaha Mortgage
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Conventional | 1 | 1.3% | 100% | $165,000 | |
Lower, LLC
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Conventional | 1 | 1.3% | 100% | $175,000 | |
Paramount Residential Mortgage
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Conventional | 1 | 1.3% | 100% | $365,000 | |
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A5.0 ★Texas Ratio: 9.09% |
FHA | 1 | 1.3% | 100% | $185,000 | View |
American Neighborhood Mortgage Acceptance Company
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Conventional | 1 | 1.3% | 100% | $205,000 | |
Valon Mortgage
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HELOC | 0 +1 HELOCs |
0% | n/a |
Waterville 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 Waterville, Minnesota
Looking for mortgage lenders near me or mortgage brokers near me in Waterville? The list below shows the banks, credit unions and mortgage brokers that closed home loans in Waterville in 2025, with lenders based there listed first.
Types of Mortgage Lenders in Waterville, MN
Use these to narrow the list above. Each category shows how many Waterville, MN lenders fit and what that kind of lender is usually best for.
Who Lends in Waterville, MN
Independent mortgage companies closed 56 percent of home loans in Waterville, Minnesota in 2025, banks 29.3 percent and credit unions 14.7 percent. United Wholesale Mortgage was the largest mortgage company, Frandsen Bank & Trust the largest bank and Affinity Plus Federal Credit Union the largest credit union. Among lenders headquartered in Minnesota, Frandsen Bank & Trust 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 Waterville, MN
By home loans closed in 2025, Frandsen Bank & Trust was the largest mortgage lender in Waterville, Minnesota with 3 loans, about 4 percent of the market. Source: Home Mortgage Disclosure Act data for 2025, published by the FFIEC and CFPB.
5 lenders closed FHA loans in Waterville, Minnesota in 2025, led by United Wholesale Mortgage with 3. 2 lenders closed VA loans, led by United Wholesale Mortgage, 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. 17 banks and 6 credit unions closed home loans in Waterville, Minnesota in 2025, alongside 19 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 Waterville, 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 Waterville, 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 Waterville. 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.
