Which mortgage lender in the Brainerd, MN area typically has the best rates? To help you narrow down where to shop for a mortgage, MortgageWaldo.com provides an objective and data driven ranking of mortgage lenders operating in the Brainerd, 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 Brainerd, MN area in terms of interest rate is Affinity Plus Federal Credit Union, with an average “Rate Difference” of -0.14%. This means that, comparing similar borrowers, Affinity Plus Federal Credit Union provided a -0.14% lower interest rate for its customers than other lenders in the area. Affinity Plus Federal Credit Union has a market share of 14.0%. On the other hand, the most popular lender in the Brainerd, MN area is US Bank, with a larger market share of 15.4%. US Bank is an average lender in terms of the interest rate it offers, with a “Rate Difference” of -0.01% compared to those of other lenders in this area.
Our detailed ranking of mortgage lenders in the Brainerd, 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 Brainerd, 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 Flagstar Bank. The cheapest VA mortgage provider is BlackRidgeBANK. 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 Brainerd, MN
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Affinity Plus Federal Credit Union | -0.14% | 13.95% | |
| Merchants Bank | -0.07% | 2.11% | |
| Tradition Mortgage | -0.06% | 4.08% | |
| Prosperity Home Mortgage LLC | -0.04% | 2.65% | |
| Bell Bank | -0.01% | 2.47% | |
| Bremer Bank | -0.01% | 5.47% | |
| Frandsen Bank & Trust | -0.01% | 3.01% | |
| US Bank | -0.01% | 15.39% | |
| USAA | 0.01% | 1.53% | |
| BlackRidgeBANK | 0.01% | 7.81% | |
| Members Cooperative Credit Union | 0.01% | 3.01% | |
| Servion | 0.03% | 2.78% | |
| Wells Fargo Bank | 0.03% | 8.66% | |
| AMEC Home Loans | 0.04% | 7.85% | |
| TruStone Financial Federal Credit Union | 0.04% | 1.44% | |
| Flagstar Bank | 0.04% | 5.65% | |
| New American Funding | 0.05% | 1.70% | |
| Quicken Loans | 0.14% | 10.45% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Affinity Plus Federal Credit Union | -0.13% | 7.00% | |
| Tradition Mortgage | -0.08% | 5.15% | |
| Merchants Bank | -0.06% | 2.11% | |
| US Bank | -0.05% | 13.92% | |
| Prosperity Home Mortgage LLC | -0.04% | 4.64% | |
| Wells Fargo Bank | -0.01% | 10.04% | |
| Bell Bank | -0.01% | 3.29% | |
| USAA | 0.00% | 2.11% | |
| Servion | 0.01% | 2.87% | |
| Frandsen Bank & Trust | 0.02% | 2.62% | |
| Bremer Bank | 0.03% | 4.56% | |
| Members Cooperative Credit Union | 0.03% | 3.97% | |
| BlackRidgeBANK | 0.03% | 10.55% | |
| Flagstar Bank | 0.04% | 5.65% | |
| AMEC Home Loans | 0.05% | 10.97% | |
| TruStone Financial Federal Credit Union | 0.05% | 2.03% | |
| New American Funding | 0.06% | 2.03% | |
| Quicken Loans | 0.12% | 6.50% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Affinity Plus Federal Credit Union | -0.14% | 21.84% | |
| Merchants Bank | -0.08% | 2.11% | |
| BlackRidgeBANK | -0.06% | 4.69% | |
| Bremer Bank | -0.04% | 6.51% | |
| Frandsen Bank & Trust | -0.03% | 3.45% | |
| Members Cooperative Credit Union | -0.03% | 1.92% | |
| Tradition Mortgage | -0.01% | 2.87% | |
| Bell Bank | -0.01% | 1.53% | |
| AMEC Home Loans | -0.00% | 4.31% | |
| Prosperity Home Mortgage LLC | 0.00% | 0.38% | |
| USAA | 0.01% | 0.86% | |
| TruStone Financial Federal Credit Union | 0.01% | 0.77% | |
| US Bank | 0.03% | 17.05% | |
| New American Funding | 0.03% | 1.34% | |
| Servion | 0.05% | 2.68% | |
| Flagstar Bank | 0.05% | 5.65% | |
| Wells Fargo Bank | 0.10% | 7.09% | |
| Quicken Loans | 0.15% | 14.94% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Affinity Plus Federal Credit Union | -0.14% | 16.77% | |
| Merchants Bank | -0.07% | 2.54% | |
| Tradition Mortgage | -0.06% | 4.22% | |
| Prosperity Home Mortgage LLC | -0.05% | 2.44% | |
| Bell Bank | -0.01% | 2.60% | |
| Bremer Bank | -0.01% | 5.63% | |
| US Bank | -0.01% | 16.67% | |
| Frandsen Bank & Trust | -0.00% | 3.63% | |
| Members Cooperative Credit Union | 0.01% | 3.63% | |
| USAA | 0.01% | 0.76% | |
| BlackRidgeBANK | 0.02% | 5.74% | |
| Servion | 0.03% | 2.71% | |
| Wells Fargo Bank | 0.03% | 9.42% | |
| AMEC Home Loans | 0.04% | 6.39% | |
| TruStone Financial Federal Credit Union | 0.05% | 1.62% | |
| New American Funding | 0.05% | 1.52% | |
| Flagstar Bank | 0.06% | 5.41% | |
| Quicken Loans | 0.20% | 8.33% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Affinity Plus Federal Credit Union | -0.12% | 8.78% | |
| Tradition Mortgage | -0.09% | 5.46% | |
| Merchants Bank | -0.06% | 2.68% | |
| US Bank | -0.05% | 15.52% | |
| Prosperity Home Mortgage LLC | -0.05% | 4.50% | |
| Bell Bank | -0.02% | 3.53% | |
| Wells Fargo Bank | -0.01% | 11.03% | |
| Servion | 0.01% | 2.68% | |
| USAA | 0.01% | 1.07% | |
| Frandsen Bank & Trust | 0.03% | 3.32% | |
| Bremer Bank | 0.03% | 4.82% | |
| Members Cooperative Credit Union | 0.03% | 5.03% | |
| Flagstar Bank | 0.06% | 5.57% | |
| AMEC Home Loans | 0.06% | 8.99% | |
| TruStone Financial Federal Credit Union | 0.06% | 2.36% | |
| New American Funding | 0.06% | 1.82% | |
| BlackRidgeBANK | 0.07% | 6.96% | |
| Quicken Loans | 0.16% | 5.89% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Affinity Plus Federal Credit Union | -0.14% | 24.95% | |
| Merchants Bank | -0.08% | 2.41% | |
| BlackRidgeBANK | -0.07% | 4.49% | |
| Bremer Bank | -0.04% | 6.46% | |
| Frandsen Bank & Trust | -0.03% | 3.94% | |
| Members Cooperative Credit Union | -0.03% | 2.19% | |
| Tradition Mortgage | -0.01% | 2.95% | |
| Bell Bank | -0.01% | 1.64% | |
| AMEC Home Loans | 0.00% | 3.72% | |
| Prosperity Home Mortgage LLC | 0.00% | 0.33% | |
| USAA | 0.01% | 0.44% | |
| TruStone Financial Federal Credit Union | 0.02% | 0.88% | |
| US Bank | 0.03% | 17.83% | |
| New American Funding | 0.04% | 1.20% | |
| Servion | 0.06% | 2.74% | |
| Flagstar Bank | 0.07% | 5.25% | |
| Wells Fargo Bank | 0.10% | 7.77% | |
| Quicken Loans | 0.23% | 10.83% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Flagstar Bank | -0.04% | 2.72% | |
| Tradition Mortgage | -0.04% | 4.35% | |
| US Bank | -0.03% | 2.17% | |
| BlackRidgeBANK | -0.02% | 27.72% | |
| Servion | -0.01% | 2.17% | |
| Prosperity Home Mortgage LLC | -0.01% | 3.26% | |
| AMEC Home Loans | 0.01% | 23.91% | |
| Wells Fargo Bank | 0.01% | 1.09% | |
| Bell Bank | 0.01% | 0.54% | |
| Bremer Bank | 0.01% | 2.17% | |
| TruStone Financial Federal Credit Union | 0.01% | 1.09% | |
| Quicken Loans | 0.03% | 24.46% | |
| New American Funding | 0.06% | 4.35% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Tradition Mortgage | -0.04% | 4.41% | |
| Flagstar Bank | -0.04% | 2.94% | |
| US Bank | -0.03% | 2.94% | |
| BlackRidgeBANK | -0.02% | 34.56% | |
| Servion | -0.01% | 2.21% | |
| Prosperity Home Mortgage LLC | -0.00% | 4.41% | |
| Bell Bank | 0.01% | 0.74% | |
| AMEC Home Loans | 0.01% | 26.47% | |
| Bremer Bank | 0.01% | 2.94% | |
| TruStone Financial Federal Credit Union | 0.02% | 1.47% | |
| Wells Fargo Bank | 0.02% | 0.74% | |
| Quicken Loans | 0.03% | 11.76% | |
| New American Funding | 0.08% | 4.41% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| AMEC Home Loans | -0.03% | 16.67% | |
| Flagstar Bank | -0.03% | 2.08% | |
| Tradition Mortgage | -0.02% | 4.17% | |
| BlackRidgeBANK | -0.02% | 8.33% | |
| Wells Fargo Bank | -0.02% | 2.08% | |
| New American Funding | -0.01% | 4.17% | |
| Servion | -0.01% | 2.08% | |
| Quicken Loans | 0.02% | 60.42% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Wells Fargo Bank | -0.01% | 17.24% | |
| Affinity Plus Federal Credit Union | -0.01% | 1.72% | |
| Bremer Bank | -0.01% | 22.41% | |
| Bell Bank | -0.01% | 5.17% | |
| Tradition Mortgage | -0.01% | 1.72% | |
| AMEC Home Loans | -0.01% | 5.17% | |
| Quicken Loans | -0.00% | 1.72% | |
| Prosperity Home Mortgage LLC | -0.00% | 1.72% | |
| New American Funding | 0.00% | 1.72% | |
| BlackRidgeBANK | 0.01% | 3.45% | |
| US Bank | 0.01% | 37.93% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Wells Fargo Bank | -0.01% | 25.81% | |
| Affinity Plus Federal Credit Union | -0.01% | 3.23% | |
| US Bank | -0.00% | 29.03% | |
| Bell Bank | -0.00% | 9.68% | |
| Quicken Loans | -0.00% | 3.23% | |
| AMEC Home Loans | 0.00% | 3.23% | |
| Prosperity Home Mortgage LLC | 0.00% | 3.23% | |
| New American Funding | 0.00% | 3.23% | |
| BlackRidgeBANK | 0.02% | 6.45% | |
| Bremer Bank | 0.02% | 12.90% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Bremer Bank | -0.03% | 33.33% | |
| Wells Fargo Bank | -0.02% | 7.41% | |
| AMEC Home Loans | -0.01% | 7.41% | |
| Tradition Mortgage | -0.01% | 3.70% | |
| US Bank | 0.02% | 48.15% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| BlackRidgeBANK | -0.03% | 10.79% | |
| Flagstar Bank | -0.02% | 15.11% | |
| USAA | -0.01% | 14.39% | |
| Prosperity Home Mortgage LLC | -0.01% | 5.04% | |
| US Bank | -0.01% | 6.47% | |
| Servion | 0.00% | 5.76% | |
| Wells Fargo Bank | 0.01% | 5.04% | |
| Bremer Bank | 0.01% | 0.72% | |
| Tradition Mortgage | 0.01% | 2.88% | |
| Quicken Loans | 0.01% | 23.74% | |
| Bell Bank | 0.02% | 2.16% | |
| New American Funding | 0.02% | 0.72% | |
| AMEC Home Loans | 0.07% | 7.19% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| BlackRidgeBANK | -0.03% | 13.10% | |
| Flagstar Bank | -0.03% | 13.10% | |
| USAA | -0.01% | 17.86% | |
| Prosperity Home Mortgage LLC | -0.01% | 7.14% | |
| US Bank | -0.01% | 8.33% | |
| Servion | 0.00% | 7.14% | |
| Wells Fargo Bank | 0.00% | 8.33% | |
| Bremer Bank | 0.00% | 1.19% | |
| Tradition Mortgage | 0.01% | 4.76% | |
| Bell Bank | 0.02% | 2.38% | |
| Quicken Loans | 0.04% | 5.95% | |
| AMEC Home Loans | 0.07% | 10.71% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| BlackRidgeBANK | -0.04% | 7.27% | |
| Flagstar Bank | -0.02% | 18.18% | |
| USAA | -0.00% | 9.09% | |
| US Bank | -0.00% | 3.64% | |
| AMEC Home Loans | 0.00% | 1.82% | |
| Servion | 0.01% | 3.64% | |
| Prosperity Home Mortgage LLC | 0.01% | 1.82% | |
| Quicken Loans | 0.01% | 50.91% | |
| Bell Bank | 0.02% | 1.82% | |
| New American Funding | 0.03% | 1.82% |
* Data is compiled for the Brainerd, MN commuting zone area, which comprises of counties of Aitkin County, MN, Cass County, MN, Crow Wing County, MN, and Itasca County, MN. This includes cities/towns/communities of Brainerd, MN as well as Crosslake, MN, Merrifield, MN, Jenkins, MN, Longville, MN, Pine River, MN, La Prairie, MN, Grand Rapids, MN, Pequot Lakes, MN, Lake Shore, MN, East Gull Lake, MN, Fort Ripley, MN, Walker, MN, Bovey, MN, Coleraine, MN, Trommald, MN, Zemple, MN, Tamarack, MN, Garrison, MN, Emily, MN, Aitkin, MN, Hill City, MN, Federal Dam, MN, Warba, MN, McGrath, MN, Nashwauk, MN, Bigfork, MN, Deer River, MN, and Cass Lake, 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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