Top Mortgage Lenders in the Duluth, MN area

Which mortgage lender in the Duluth, MN area typically has the best rates? To help you narrow down where to shop for a mortgage, we provide a data driven ranking of mortgage lenders in the Duluth, MN area by interest rate and market share. We use data on all fixed rate mortgages that were closed in the past year to generate our rankings. We do not receive any compensation from lenders and strive to provide the most objective and authoritative ranking possible.

Based on our data, the cheapest overall lender in the Duluth, MN area is Affinity Plus Federal Credit Union, with a “Rate Rank” of 1 and an average “Rate Difference” of -0.13%. This means that Affinity Plus Federal Credit Union provided a -0.13% lower interest rate for its customers than other lenders in Duluth, MN for a similar set of borrowers. Affinity Plus Federal Credit Union has a market share of 4.0%. On the other hand, the most popular lender in the market is Us Bank, with a market share of 15.7%. Us Bank is an average rate lender in this area, with a “Rate Difference” of -0.03% relative to those of other lenders.

Our detailed rankings of the mortgage lenders for the Duluth, MN area is shown in the table below. In the table, we also give our assessment of whether they are, on average, a cheap/expensive lender through a star rating system. You can choose to tailor our ranking table to a specific mortgage type (Conventional/Jumbo/FHA/VA) and purpose (purchase/refinance) through the drop-down menu. For example, the cheapest lender for Conventional mortgages in Duluth, MN is Affinity Plus Federal Credit Union. If you want to take out a loan that is above conforming limits (for example, above $510,400 in 2020), the cheapest Jumbo mortgage provider is Wells Fargo Bank. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is North Shore Bank of Commerce. The cheapest VA mortgage provider is North Shore Bank of Commerce. To get the lowest rate for your mortgage, we would suggest shopping and negotiating among several of our top ranked lenders by “Rate Rank” for your desired mortgage type and purpose.

Mortgage Type:
Purchase/Refinance:
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Affinity Plus Federal Credit Union 1, -0.13% 4.00%
Superior Choice Credit Union 2, -0.12% 3.05%
North Shore Bank of Commerce 3, -0.10% 14.69%
Frandsen Bank & Trust 4, -0.04% 3.11%
Us Bank 5, -0.03% 15.67%
Members Cooperative Credit Union 6, -0.01% 4.18%
LoanDepot 7, -0.01% 1.41%
Usaa Federal Savings Bank 8, -0.01% 1.90%
American Mortgage & Equity Consultants Inc 9, -0.01% 1.41%
Towne Mortgage Company 10, -0.00% 1.07%
Guild Mortgage Company 11, 0.00% 1.61%
Servion, Inc 12, 0.00% 5.59%
Merchants Bank 13, 0.00% 1.21%
Flagstar Bank 14, 0.01% 1.15%
Caliber Home Loans Inc 15, 0.01% 1.33%
Miners NB of Eveleth 16, 0.02% 1.82%
Wells Fargo Bank 17, 0.02% 12.04%
New American Funding 18, 0.05% 2.48%
Fairway Independent Mort Corp 19, 0.06% 3.86%
Union Home Mortgage Company 20, 0.12% 0.98%
Results Mortgage 21, 0.12% 3.08%
Lend Smart Mortgage 22, 0.13% 2.54%
Quicken Loans 23, 0.14% 10.75%
Compeer Financial ACA 24, 0.15% 1.07%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
North Shore Bank of Commerce 1, -0.09% 18.59%
Affinity Plus Federal Credit Union 2, -0.08% 2.66%
Superior Choice Credit Union 3, -0.04% 2.75%
Us Bank 4, -0.03% 14.12%
Frandsen Bank & Trust 5, -0.02% 2.84%
Servion, Inc 6, -0.01% 6.06%
Wells Fargo Bank 7, -0.01% 14.17%
Guild Mortgage Company 8, -0.01% 1.12%
Usaa Federal Savings Bank 9, -0.00% 2.47%
Towne Mortgage Company 10, 0.00% 0.93%
Members Cooperative Credit Union 11, 0.00% 4.66%
Merchants Bank 12, 0.00% 1.16%
American Mortgage & Equity Consultants Inc 13, 0.01% 1.40%
Flagstar Bank 14, 0.02% 1.12%
Caliber Home Loans Inc 15, 0.02% 0.98%
Miners NB of Eveleth 16, 0.04% 2.14%
LoanDepot 17, 0.04% 0.23%
Fairway Independent Mort Corp 18, 0.06% 5.41%
New American Funding 19, 0.07% 3.31%
Union Home Mortgage Company 20, 0.12% 1.54%
Lend Smart Mortgage 21, 0.13% 2.33%
Results Mortgage 22, 0.14% 4.71%
Quicken Loans 23, 0.15% 4.61%
Compeer Financial ACA 24, 0.18% 0.70%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Superior Choice Credit Union 1, -0.23% 3.55%
Affinity Plus Federal Credit Union 2, -0.18% 6.19%
North Shore Bank of Commerce 3, -0.15% 8.38%
Frandsen Bank & Trust 4, -0.07% 3.55%
American Mortgage & Equity Consultants Inc 5, -0.04% 1.43%
Us Bank 6, -0.04% 18.19%
Members Cooperative Credit Union 7, -0.04% 3.40%
New American Funding 8, -0.03% 1.13%
Usaa Federal Savings Bank 9, -0.03% 0.98%
Miners NB of Eveleth 10, -0.02% 1.28%
LoanDepot 11, -0.02% 3.32%
Flagstar Bank 12, -0.01% 1.21%
Towne Mortgage Company 13, -0.01% 1.28%
Caliber Home Loans Inc 14, 0.00% 1.89%
Merchants Bank 15, 0.00% 1.28%
Results Mortgage 16, 0.01% 0.45%
Guild Mortgage Company 17, 0.01% 2.42%
Union Home Mortgage Company 18, 0.04% 0.08%
Servion, Inc 19, 0.04% 4.83%
Fairway Independent Mort Corp 20, 0.07% 1.36%
Compeer Financial ACA 21, 0.12% 1.66%
Wells Fargo Bank 22, 0.13% 8.60%
Quicken Loans 23, 0.13% 20.68%
Lend Smart Mortgage 24, 0.13% 2.87%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Affinity Plus Federal Credit Union 1, -0.13% 4.85%
Superior Choice Credit Union 2, -0.12% 3.73%
North Shore Bank of Commerce 3, -0.10% 14.48%
Frandsen Bank & Trust 4, -0.04% 3.80%
Us Bank 5, -0.04% 17.79%
Towne Mortgage Company 6, -0.02% 0.60%
American Mortgage & Equity Consultants Inc 7, -0.01% 1.37%
Members Cooperative Credit Union 8, -0.01% 5.06%
LoanDepot 9, -0.01% 1.02%
Guild Mortgage Company 10, 0.00% 1.86%
Merchants Bank 11, 0.00% 1.48%
Servion, Inc 12, 0.01% 5.94%
Flagstar Bank 13, 0.01% 1.05%
Miners NB of Eveleth 14, 0.02% 2.14%
Wells Fargo Bank 15, 0.03% 13.64%
Caliber Home Loans Inc 16, 0.03% 0.88%
Usaa Federal Savings Bank 17, 0.04% 0.81%
Fairway Independent Mort Corp 18, 0.04% 2.43%
New American Funding 19, 0.05% 1.93%
Union Home Mortgage Company 20, 0.13% 0.56%
Compeer Financial ACA 21, 0.15% 1.30%
Lend Smart Mortgage 22, 0.15% 2.67%
Results Mortgage 23, 0.19% 2.39%
Quicken Loans 24, 0.20% 8.22%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
North Shore Bank of Commerce 1, -0.08% 18.24%
Affinity Plus Federal Credit Union 2, -0.08% 3.32%
Superior Choice Credit Union 3, -0.03% 3.44%
Us Bank 4, -0.03% 16.14%
Frandsen Bank & Trust 5, -0.02% 3.55%
Wells Fargo Bank 6, -0.01% 15.97%
Guild Mortgage Company 7, -0.01% 1.34%
Servion, Inc 8, -0.01% 6.35%
Members Cooperative Credit Union 9, 0.00% 5.77%
Towne Mortgage Company 10, 0.00% 0.35%
Merchants Bank 11, 0.01% 1.46%
American Mortgage & Equity Consultants Inc 12, 0.01% 1.34%
LoanDepot 13, 0.01% 0.12%
Flagstar Bank 14, 0.03% 1.05%
Caliber Home Loans Inc 15, 0.03% 0.76%
Fairway Independent Mort Corp 16, 0.04% 3.32%
Miners NB of Eveleth 17, 0.04% 2.62%
Usaa Federal Savings Bank 18, 0.05% 1.17%
New American Funding 19, 0.08% 2.51%
Union Home Mortgage Company 20, 0.14% 0.93%
Lend Smart Mortgage 21, 0.16% 2.39%
Compeer Financial ACA 22, 0.18% 0.87%
Results Mortgage 23, 0.21% 3.79%
Quicken Loans 24, 0.22% 3.21%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Superior Choice Credit Union 1, -0.24% 4.16%
Affinity Plus Federal Credit Union 2, -0.18% 7.17%
North Shore Bank of Commerce 3, -0.16% 8.77%
Frandsen Bank & Trust 4, -0.07% 4.16%
American Mortgage & Equity Consultants Inc 5, -0.06% 1.42%
New American Funding 6, -0.05% 1.06%
Us Bank 7, -0.04% 20.28%
Members Cooperative Credit Union 8, -0.04% 3.99%
Towne Mortgage Company 9, -0.04% 0.97%
Miners NB of Eveleth 10, -0.03% 1.42%
LoanDepot 11, -0.02% 2.39%
Flagstar Bank 12, -0.01% 1.06%
Merchants Bank 13, 0.00% 1.51%
Guild Mortgage Company 14, 0.01% 2.66%
Usaa Federal Savings Bank 15, 0.01% 0.27%
Results Mortgage 16, 0.02% 0.27%
Caliber Home Loans Inc 17, 0.03% 1.06%
Servion, Inc 18, 0.04% 5.31%
Fairway Independent Mort Corp 19, 0.08% 1.06%
Compeer Financial ACA 20, 0.12% 1.95%
Wells Fargo Bank 21, 0.12% 10.10%
Lend Smart Mortgage 22, 0.13% 3.10%
Quicken Loans 23, 0.19% 15.85%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
North Shore Bank of Commerce 1, -0.12% 12.04%
Servion, Inc 2, -0.05% 6.17%
Quicken Loans 3, -0.01% 29.63%
Results Mortgage 4, -0.01% 8.95%
Caliber Home Loans Inc 5, -0.01% 2.78%
Us Bank 6, 0.00% 1.85%
American Mortgage & Equity Consultants Inc 7, 0.00% 1.54%
Lend Smart Mortgage 8, 0.01% 2.47%
Flagstar Bank 9, 0.01% 1.54%
LoanDepot 10, 0.01% 1.54%
Wells Fargo Bank 11, 0.02% 1.54%
New American Funding 12, 0.03% 8.02%
Towne Mortgage Company 13, 0.05% 2.16%
Fairway Independent Mort Corp 14, 0.08% 16.05%
Union Home Mortgage Company 15, 0.10% 3.70%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
North Shore Bank of Commerce 1, -0.13% 16.24%
Servion, Inc 2, -0.06% 7.69%
Results Mortgage 3, -0.02% 11.54%
Us Bank 4, -0.01% 2.14%
American Mortgage & Equity Consultants Inc 5, -0.01% 2.14%
Lend Smart Mortgage 6, -0.01% 2.99%
Caliber Home Loans Inc 7, -0.00% 2.14%
Flagstar Bank 8, 0.00% 1.28%
Wells Fargo Bank 9, 0.02% 2.14%
New American Funding 10, 0.02% 10.26%
Towne Mortgage Company 11, 0.03% 1.28%
LoanDepot 12, 0.04% 0.43%
Quicken Loans 13, 0.04% 14.53%
Fairway Independent Mort Corp 14, 0.07% 20.51%
Union Home Mortgage Company 15, 0.10% 4.70%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Quicken Loans 1, -0.02% 68.89%
Caliber Home Loans Inc 2, 0.01% 4.44%
Results Mortgage 3, 0.01% 2.22%
Us Bank 4, 0.03% 1.11%
LoanDepot 5, 0.03% 4.44%
North Shore Bank of Commerce 6, 0.03% 1.11%
New American Funding 7, 0.04% 2.22%
Flagstar Bank 8, 0.04% 2.22%
Servion, Inc 9, 0.04% 2.22%
Lend Smart Mortgage 10, 0.05% 1.11%
Union Home Mortgage Company 11, 0.06% 1.11%
Towne Mortgage Company 12, 0.08% 4.44%
Fairway Independent Mort Corp 13, 0.10% 4.44%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Wells Fargo Bank 1, -0.03% 14.29%
Affinity Plus Federal Credit Union 2, -0.01% 3.57%
Quicken Loans 3, -0.00% 7.14%
Miners NB of Eveleth 4, -0.00% 7.14%
Members Cooperative Credit Union 5, 0.00% 3.57%
Us Bank 6, 0.01% 35.71%
North Shore Bank of Commerce 7, 0.01% 28.57%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Wells Fargo Bank 1, -0.02% 23.53%
Us Bank 2, -0.00% 23.53%
Members Cooperative Credit Union 3, 0.01% 5.88%
North Shore Bank of Commerce 4, 0.01% 41.18%
Miners NB of Eveleth 5, 0.02% 5.88%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Miners NB of Eveleth 1, -0.02% 9.09%
Affinity Plus Federal Credit Union 2, -0.01% 9.09%
North Shore Bank of Commerce 3, -0.01% 9.09%
Quicken Loans 4, -0.01% 18.18%
Us Bank 5, 0.01% 54.55%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
North Shore Bank of Commerce 1, -0.10% 18.61%
Usaa Federal Savings Bank 2, -0.03% 15.69%
LoanDepot 3, -0.02% 5.47%
Caliber Home Loans Inc 4, -0.01% 4.38%
Towne Mortgage Company 5, -0.00% 4.74%
Wells Fargo Bank 6, -0.00% 7.66%
Flagstar Bank 7, 0.01% 1.82%
New American Funding 8, 0.02% 1.82%
Us Bank 9, 0.03% 8.03%
Guild Mortgage Company 10, 0.03% 1.09%
Servion, Inc 11, 0.03% 1.82%
Fairway Independent Mort Corp 12, 0.04% 4.74%
Results Mortgage 13, 0.04% 3.65%
American Mortgage & Equity Consultants Inc 14, 0.04% 1.82%
Lend Smart Mortgage 15, 0.05% 1.46%
Union Home Mortgage Company 16, 0.09% 2.19%
Quicken Loans 17, 0.10% 14.96%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
North Shore Bank of Commerce 1, -0.10% 22.91%
Usaa Federal Savings Bank 2, -0.01% 18.44%
Towne Mortgage Company 3, 0.00% 6.15%
Wells Fargo Bank 4, 0.01% 11.73%
Flagstar Bank 5, 0.01% 1.68%
Caliber Home Loans Inc 6, 0.03% 1.68%
New American Funding 7, 0.03% 2.23%
Lend Smart Mortgage 8, 0.04% 1.12%
Guild Mortgage Company 9, 0.04% 0.56%
Us Bank 10, 0.05% 9.50%
American Mortgage & Equity Consultants Inc 11, 0.05% 1.12%
Servion, Inc 12, 0.05% 1.68%
Results Mortgage 13, 0.06% 5.03%
Fairway Independent Mort Corp 14, 0.06% 6.15%
LoanDepot 15, 0.08% 1.12%
Union Home Mortgage Company 16, 0.11% 3.35%
Quicken Loans 17, 0.11% 5.59%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
North Shore Bank of Commerce 1, -0.07% 10.53%
LoanDepot 2, -0.06% 13.68%
Usaa Federal Savings Bank 3, -0.05% 10.53%
Caliber Home Loans Inc 4, -0.04% 9.47%
Us Bank 5, -0.03% 5.26%
Fairway Independent Mort Corp 6, -0.02% 2.11%
Flagstar Bank 7, -0.01% 2.11%
Results Mortgage 8, -0.00% 1.05%
Servion, Inc 9, 0.00% 2.11%
Guild Mortgage Company 10, 0.00% 2.11%
Towne Mortgage Company 11, 0.01% 2.11%
American Mortgage & Equity Consultants Inc 12, 0.02% 3.16%
New American Funding 13, 0.02% 1.05%
Lend Smart Mortgage 14, 0.04% 2.11%
Quicken Loans 15, 0.08% 32.63%

* Data is compiled for the Duluth, MN commuting zone area, which comprises of counties of Carlton County, MN, Cook County, MN, Lake County, MN, St. Louis County, MN, and Douglas County, WI. This includes cities/towns/communities of Duluth, MN as well as Superior, WI, Cloquet, MN, Hibbing, MN, Hermantown, MN, Arnold, MN, Two Harbors, MN, Carlton, MN, Solon Springs, WI, Lake Nebagamon, WI, Barnum, MN, Virginia, MN, Tower, MN, Scanlon, MN, Orr, MN, Lutsen, MN, Chisholm, MN, Biwabik, MN, Cromwell, MN, Ely, MN, Iron Junction, MN, Mountain Iron, MN, Floodwood, MN, Eveleth, MN, Kinney, MN, Leonidas, MN, Silver Bay, MN, Grand Marais, MN, Babbitt, MN, Big Lake, MN, Hoyt Lakes, MN, Gilbert, MN, Meadowlands, MN, and Aurora, MN. Lenders must have made at least 30 loans in the area to be included. Source for the data comes from Federal Financial Institutions Examination Council (FFIEC). Rate Difference (the average difference of interest rates relative to those of other lenders) were computed by subtracting the rate at origination from the average predicted rate based on the MSA, borrower LTV, DTI, Loan Amount, Loan Type, and Loan Purpose, and then regularized based on a Bayesian approach to account for smaller sample sizes. Above-average mortgage closing costs were then added to the rate difference at a rate of +0.15/point. Star ratings were determined in intervals of 0.10% in rate difference per half star.

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