Top Mortgage Lenders in Duluth, MN

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

Going by historical data, the best mortgage lender in the Duluth, MN area in terms of interest rate is Affinity Plus Federal Credit Union, with an average “Rate Difference” of -0.13%. This means that, comparing similar borrowers, Affinity Plus Federal Credit Union provided a -0.13% lower interest rate for its customers than other lenders in the area. Affinity Plus Federal Credit Union has a market share of 4.0%. On the other hand, the most popular lender in the Duluth, MN area is US Bank, with a larger market share of 15.7%. US Bank is an average lender in terms of the interest rate it offers, with a “Rate Difference” of -0.03% compared to those of other lenders in this area.

Our detailed ranking of mortgage lenders in 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, going by historical data, 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 (above $548,250 or $822,375 depending on the area in 2021), 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 also North Shore Bank of Commerce. Note that as a consumer advocate we always recommend shopping among several of our top ranked lenders in order to get the best rates and fees.

Ranking of Mortgage Lenders in Duluth, MN

Mortgage Type:
Lender NameRate DifferenceRate RatingMarket Share
Affinity Plus Federal Credit Union-0.13%(4.0)4.01%
Superior Choice Credit Union-0.12%(4.0)3.06%
North Shore Bank of Commerce-0.10%(4.0)14.70%
Frandsen Bank & Trust-0.04%(3.5)3.11%
US Bank-0.03%(3.5)15.68%
Members Cooperative Credit Union-0.01%(3.5)4.18%
AMEC Home Loans-0.01%(3.5)1.41%
Towne Mortgage Company-0.00%(3.5)1.07%
Guild Mortgage Company0.00%(3.5)1.61%
Merchants Bank0.00%(3.5)1.21%
Flagstar Bank0.01%(3.5)1.15%
Caliber Home Loans0.01%(3.5)1.33%
Miners NB of Eveleth0.02%(3.5)1.82%
Wells Fargo Bank0.02%(3.5)12.05%
New American Funding0.05%(3.5)2.48%
Fairway Independent Mortgage Corporation0.06%(3.0)3.86%
Union Home Mortgage0.12%(3.0)0.98%
Results Mortgage0.12%(3.0)3.06%
Lend Smart Mortgage0.13%(3.0)2.54%
Quicken Loans0.14%(3.0)10.72%
Compeer Financial0.15%(3.0)1.07%
Lender NameRate DifferenceRate RatingMarket Share
North Shore Bank of Commerce-0.09%(4.0)18.59%
Affinity Plus Federal Credit Union-0.08%(4.0)2.66%
Superior Choice Credit Union-0.04%(3.5)2.75%
US Bank-0.03%(3.5)14.12%
Frandsen Bank & Trust-0.02%(3.5)2.84%
Wells Fargo Bank-0.01%(3.5)14.17%
Guild Mortgage Company-0.01%(3.5)1.12%
Towne Mortgage Company0.00%(3.5)0.93%
Members Cooperative Credit Union0.00%(3.5)4.66%
Merchants Bank0.00%(3.5)1.16%
AMEC Home Loans0.01%(3.5)1.40%
Flagstar Bank0.02%(3.5)1.12%
Caliber Home Loans0.02%(3.5)0.98%
Miners NB of Eveleth0.04%(3.5)2.14%
Fairway Independent Mortgage Corporation0.06%(3.0)5.41%
New American Funding0.07%(3.0)3.31%
Union Home Mortgage0.12%(3.0)1.54%
Lend Smart Mortgage0.13%(3.0)2.33%
Results Mortgage0.14%(3.0)4.71%
Quicken Loans0.15%(2.5)4.61%
Compeer Financial0.18%(2.5)0.70%
Lender NameRate DifferenceRate RatingMarket Share
Superior Choice Credit Union-0.24%(4.5)3.55%
Affinity Plus Federal Credit Union-0.18%(4.5)6.20%
North Shore Bank of Commerce-0.15%(4.0)8.39%
Frandsen Bank & Trust-0.07%(4.0)3.55%
AMEC Home Loans-0.04%(3.5)1.44%
US Bank-0.04%(3.5)18.22%
Members Cooperative Credit Union-0.04%(3.5)3.40%
New American Funding-0.03%(3.5)1.13%
Miners NB of Eveleth-0.03%(3.5)1.28%
Flagstar Bank-0.01%(3.5)1.21%
Towne Mortgage Company-0.01%(3.5)1.28%
Results Mortgage-0.01%(3.5)0.38%
Caliber Home Loans0.00%(3.5)1.89%
Merchants Bank0.00%(3.5)1.28%
Guild Mortgage Company0.01%(3.5)2.42%
Union Home Mortgage0.03%(3.5)0.08%
Fairway Independent Mortgage Corporation0.07%(3.0)1.36%
Compeer Financial0.12%(3.0)1.66%
Wells Fargo Bank0.12%(3.0)8.62%
Quicken Loans0.13%(3.0)20.63%
Lend Smart Mortgage0.13%(3.0)2.87%
Lender NameRate DifferenceRate RatingMarket Share
Affinity Plus Federal Credit Union-0.13%(4.0)4.85%
Superior Choice Credit Union-0.12%(4.0)3.73%
North Shore Bank of Commerce-0.10%(4.0)14.49%
Frandsen Bank & Trust-0.04%(3.5)3.80%
US Bank-0.04%(3.5)17.79%
Towne Mortgage Company-0.02%(3.5)0.60%
AMEC Home Loans-0.01%(3.5)1.37%
Members Cooperative Credit Union-0.01%(3.5)5.06%
Guild Mortgage Company0.00%(3.5)1.86%
Merchants Bank0.00%(3.5)1.48%
Flagstar Bank0.01%(3.5)1.05%
Miners NB of Eveleth0.02%(3.5)2.14%
Wells Fargo Bank0.03%(3.5)13.64%
Caliber Home Loans0.03%(3.5)0.88%
Fairway Independent Mortgage Corporation0.04%(3.5)2.43%
New American Funding0.05%(3.0)1.93%
Union Home Mortgage0.13%(3.0)0.56%
Compeer Financial0.15%(3.0)1.30%
Lend Smart Mortgage0.15%(3.0)2.67%
Results Mortgage0.19%(2.5)2.36%
Quicken Loans0.21%(2.5)8.23%
Lender NameRate DifferenceRate RatingMarket Share
North Shore Bank of Commerce-0.08%(4.0)18.24%
Affinity Plus Federal Credit Union-0.08%(4.0)3.32%
Superior Choice Credit Union-0.03%(3.5)3.44%
US Bank-0.03%(3.5)16.14%
Frandsen Bank & Trust-0.02%(3.5)3.55%
Wells Fargo Bank-0.01%(3.5)15.97%
Guild Mortgage Company-0.01%(3.5)1.34%
Members Cooperative Credit Union0.00%(3.5)5.77%
Towne Mortgage Company0.00%(3.5)0.35%
Merchants Bank0.01%(3.5)1.46%
AMEC Home Loans0.01%(3.5)1.34%
Flagstar Bank0.03%(3.5)1.05%
Caliber Home Loans0.03%(3.5)0.76%
Fairway Independent Mortgage Corporation0.04%(3.5)3.32%
Miners NB of Eveleth0.04%(3.5)2.62%
New American Funding0.08%(3.0)2.51%
Union Home Mortgage0.14%(3.0)0.93%
Lend Smart Mortgage0.16%(2.5)2.39%
Compeer Financial0.18%(2.5)0.87%
Results Mortgage0.21%(2.5)3.79%
Quicken Loans0.22%(2.5)3.21%
Lender NameRate DifferenceRate RatingMarket Share
Superior Choice Credit Union-0.24%(4.5)4.17%
Affinity Plus Federal Credit Union-0.18%(4.5)7.18%
North Shore Bank of Commerce-0.16%(4.5)8.78%
Frandsen Bank & Trust-0.07%(4.0)4.17%
AMEC Home Loans-0.06%(4.0)1.42%
New American Funding-0.05%(3.5)1.06%
US Bank-0.04%(3.5)20.30%
Members Cooperative Credit Union-0.04%(3.5)3.99%
Towne Mortgage Company-0.04%(3.5)0.98%
Miners NB of Eveleth-0.03%(3.5)1.42%
Flagstar Bank-0.02%(3.5)1.06%
Results Mortgage-0.01%(3.5)0.18%
Merchants Bank0.00%(3.5)1.51%
Guild Mortgage Company0.01%(3.5)2.66%
Caliber Home Loans0.03%(3.5)1.06%
Fairway Independent Mortgage Corporation0.07%(3.0)1.06%
Compeer Financial0.12%(3.0)1.95%
Wells Fargo Bank0.12%(3.0)10.11%
Lend Smart Mortgage0.13%(3.0)3.10%
Quicken Loans0.19%(2.5)15.87%
Lender NameRate DifferenceRate RatingMarket Share
North Shore Bank of Commerce-0.12%(4.0)12.04%
Quicken Loans-0.01%(3.5)29.63%
Results Mortgage-0.01%(3.5)8.95%
Caliber Home Loans-0.01%(3.5)2.78%
US Bank0.00%(3.5)1.85%
AMEC Home Loans0.00%(3.5)1.54%
Lend Smart Mortgage0.01%(3.5)2.47%
Flagstar Bank0.01%(3.5)1.54%
Wells Fargo Bank0.02%(3.5)1.54%
New American Funding0.03%(3.5)8.02%
Towne Mortgage Company0.05%(3.5)2.16%
Fairway Independent Mortgage Corporation0.08%(3.0)16.05%
Union Home Mortgage0.10%(3.0)3.70%
Lender NameRate DifferenceRate RatingMarket Share
North Shore Bank of Commerce-0.13%(4.0)16.24%
Results Mortgage-0.02%(3.5)11.54%
US Bank-0.01%(3.5)2.14%
AMEC Home Loans-0.01%(3.5)2.14%
Lend Smart Mortgage-0.01%(3.5)2.99%
Caliber Home Loans-0.00%(3.5)2.14%
Flagstar Bank0.00%(3.5)1.28%
Wells Fargo Bank0.02%(3.5)2.14%
New American Funding0.02%(3.5)10.26%
Towne Mortgage Company0.03%(3.5)1.28%
Quicken Loans0.04%(3.5)14.53%
Fairway Independent Mortgage Corporation0.07%(3.0)20.51%
Union Home Mortgage0.10%(3.0)4.70%
Lender NameRate DifferenceRate RatingMarket Share
Quicken Loans-0.02%(3.5)68.89%
Caliber Home Loans0.01%(3.5)4.44%
Results Mortgage0.01%(3.5)2.22%
US Bank0.03%(3.5)1.11%
North Shore Bank of Commerce0.03%(3.5)1.11%
New American Funding0.04%(3.5)2.22%
Flagstar Bank0.04%(3.5)2.22%
Lend Smart Mortgage0.05%(3.5)1.11%
Union Home Mortgage0.06%(3.0)1.11%
Towne Mortgage Company0.08%(3.0)4.44%
Fairway Independent Mortgage Corporation0.10%(3.0)4.44%
Lender NameRate DifferenceRate RatingMarket Share
Wells Fargo Bank-0.03%(3.5)14.29%
Affinity Plus Federal Credit Union-0.01%(3.5)3.57%
Quicken Loans-0.00%(3.5)7.14%
Miners NB of Eveleth-0.00%(3.5)7.14%
Members Cooperative Credit Union0.00%(3.5)3.57%
US Bank0.01%(3.5)35.71%
North Shore Bank of Commerce0.01%(3.5)28.57%
Lender NameRate DifferenceRate RatingMarket Share
Wells Fargo Bank-0.02%(3.5)23.53%
US Bank-0.00%(3.5)23.53%
Members Cooperative Credit Union0.01%(3.5)5.88%
North Shore Bank of Commerce0.01%(3.5)41.18%
Miners NB of Eveleth0.02%(3.5)5.88%
Lender NameRate DifferenceRate RatingMarket Share
Miners NB of Eveleth-0.02%(3.5)9.09%
Affinity Plus Federal Credit Union-0.01%(3.5)9.09%
North Shore Bank of Commerce-0.01%(3.5)9.09%
Quicken Loans-0.01%(3.5)18.18%
US Bank0.01%(3.5)54.55%
Lender NameRate DifferenceRate RatingMarket Share
North Shore Bank of Commerce-0.11%(4.0)18.68%
Caliber Home Loans-0.01%(3.5)4.40%
Towne Mortgage Company-0.01%(3.5)4.76%
Wells Fargo Bank-0.00%(3.5)7.69%
Flagstar Bank0.01%(3.5)1.83%
New American Funding0.02%(3.5)1.83%
US Bank0.03%(3.5)8.06%
Guild Mortgage Company0.03%(3.5)1.10%
Fairway Independent Mortgage Corporation0.04%(3.5)4.76%
Results Mortgage0.04%(3.5)3.66%
AMEC Home Loans0.04%(3.5)1.83%
Lend Smart Mortgage0.05%(3.5)1.47%
Union Home Mortgage0.09%(3.0)2.20%
Quicken Loans0.11%(3.0)14.65%
Lender NameRate DifferenceRate RatingMarket Share
North Shore Bank of Commerce-0.10%(4.0)22.91%
Towne Mortgage Company0.00%(3.5)6.15%
Wells Fargo Bank0.01%(3.5)11.73%
Flagstar Bank0.01%(3.5)1.68%
Caliber Home Loans0.03%(3.5)1.68%
New American Funding0.03%(3.5)2.23%
Lend Smart Mortgage0.04%(3.5)1.12%
Guild Mortgage Company0.04%(3.5)0.56%
US Bank0.05%(3.5)9.50%
AMEC Home Loans0.05%(3.5)1.12%
Results Mortgage0.06%(3.0)5.03%
Fairway Independent Mortgage Corporation0.06%(3.0)6.15%
Union Home Mortgage0.11%(3.0)3.35%
Quicken Loans0.11%(3.0)5.59%
Lender NameRate DifferenceRate RatingMarket Share
North Shore Bank of Commerce-0.07%(4.0)10.64%
Caliber Home Loans-0.04%(3.5)9.57%
US Bank-0.03%(3.5)5.32%
Fairway Independent Mortgage Corporation-0.02%(3.5)2.13%
Flagstar Bank-0.01%(3.5)2.13%
Results Mortgage-0.01%(3.5)1.06%
Guild Mortgage Company0.00%(3.5)2.13%
Towne Mortgage Company0.01%(3.5)2.13%
AMEC Home Loans0.02%(3.5)3.19%
New American Funding0.02%(3.5)1.06%
Lend Smart Mortgage0.04%(3.5)2.13%
Quicken Loans0.08%(3.0)31.91%

* 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 of the data is 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 conditional on the commuting zone, 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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