Top Mortgage Lenders in Fergus Falls, MN

Which mortgage lender in the Fergus Falls, 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 Fergus Falls, 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 Fergus Falls, MN area in terms of interest rate is Merchants Bank, with an average “Rate Difference” of -0.14%. This means that, comparing similar borrowers, Merchants Bank provided a -0.14% lower interest rate for its customers than other lenders in the area. Merchants Bank has a market share of 18.2%. It is the most popular lender in the Fergus Falls, MN area.

Our detailed ranking of mortgage lenders in the Fergus Falls, 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 Fergus Falls, MN is Merchants Bank. 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 Bell Bank. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is Tradition Mortgage. The cheapest VA mortgage provider is Gate City Bank. 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 Fergus Falls, MN

Mortgage Type:
Purchase/Refinance:
Lender NameRate DifferenceRate RatingMarket Share
Merchants Bank-0.14%(4.0)18.24%
Affinity Plus Federal Credit Union-0.06%(4.0)5.26%
Bell Bank-0.05%(4.0)12.34%
Gate City Bank-0.04%(3.5)9.12%
Central Minnesota Credit Union0.03%(3.5)11.59%
Tradition Mortgage0.05%(3.5)7.19%
US Bank0.05%(3.0)5.58%
Bremer Bank0.06%(3.0)13.09%
Wells Fargo Bank0.09%(3.0)8.48%
Quicken Loans0.15%(2.5)9.12%
Lender NameRate DifferenceRate RatingMarket Share
Bell Bank-0.08%(4.0)18.54%
Merchants Bank-0.07%(4.0)14.79%
Gate City Bank-0.04%(3.5)11.46%
Affinity Plus Federal Credit Union-0.01%(3.5)2.92%
Tradition Mortgage0.00%(3.5)9.17%
US Bank0.03%(3.5)5.00%
Central Minnesota Credit Union0.04%(3.5)10.42%
Wells Fargo Bank0.05%(3.0)9.79%
Bremer Bank0.10%(3.0)13.33%
Quicken Loans0.11%(3.0)4.58%
Lender NameRate DifferenceRate RatingMarket Share
Merchants Bank-0.19%(4.5)21.90%
Affinity Plus Federal Credit Union-0.08%(4.0)7.74%
Gate City Bank-0.06%(4.0)6.64%
Bremer Bank0.02%(3.5)12.83%
Central Minnesota Credit Union0.02%(3.5)12.83%
Bell Bank0.03%(3.5)5.75%
US Bank0.07%(3.0)6.19%
Tradition Mortgage0.13%(3.0)5.09%
Wells Fargo Bank0.14%(3.0)7.08%
Quicken Loans0.17%(2.5)13.94%
Lender NameRate DifferenceRate RatingMarket Share
Merchants Bank-0.14%(4.0)20.09%
Affinity Plus Federal Credit Union-0.06%(4.0)5.79%
Bell Bank-0.05%(4.0)12.88%
Gate City Bank-0.05%(3.5)8.98%
Central Minnesota Credit Union0.03%(3.5)12.77%
US Bank0.06%(3.0)5.44%
Tradition Mortgage0.06%(3.0)6.50%
Bremer Bank0.07%(3.0)12.17%
Wells Fargo Bank0.10%(3.0)8.63%
Quicken Loans0.20%(2.5)6.74%
Lender NameRate DifferenceRate RatingMarket Share
Bell Bank-0.08%(4.0)19.62%
Merchants Bank-0.07%(4.0)16.78%
Gate City Bank-0.04%(3.5)11.35%
Affinity Plus Federal Credit Union-0.01%(3.5)3.31%
Tradition Mortgage0.00%(3.5)7.57%
US Bank0.04%(3.5)4.96%
Central Minnesota Credit Union0.04%(3.5)11.82%
Wells Fargo Bank0.06%(3.0)9.93%
Bremer Bank0.13%(3.0)11.35%
Quicken Loans0.14%(3.0)3.31%
Lender NameRate DifferenceRate RatingMarket Share
Merchants Bank-0.19%(4.5)23.40%
Affinity Plus Federal Credit Union-0.07%(4.0)8.27%
Gate City Bank-0.07%(4.0)6.62%
Bremer Bank0.02%(3.5)13.00%
Central Minnesota Credit Union0.03%(3.5)13.71%
Bell Bank0.03%(3.5)6.15%
US Bank0.08%(3.0)5.91%
Tradition Mortgage0.13%(3.0)5.44%
Wells Fargo Bank0.15%(3.0)7.33%
Quicken Loans0.23%(2.5)10.17%
Lender NameRate DifferenceRate RatingMarket Share
Tradition Mortgage-0.03%(3.5)23.26%
Bremer Bank-0.01%(3.5)25.58%
Gate City Bank-0.01%(3.5)6.98%
Bell Bank-0.00%(3.5)9.30%
US Bank-0.00%(3.5)2.33%
Quicken Loans0.04%(3.5)32.56%
Lender NameRate DifferenceRate RatingMarket Share
Tradition Mortgage-0.02%(3.5)28.57%
Bremer Bank-0.01%(3.5)31.43%
Gate City Bank-0.00%(3.5)8.57%
Bell Bank0.00%(3.5)11.43%
US Bank0.00%(3.5)2.86%
Quicken Loans0.05%(3.0)17.14%
Lender NameRate DifferenceRate RatingMarket Share
Quicken Loans0.00%(3.5)100.00%
Lender NameRate DifferenceRate RatingMarket Share
Bell Bank-0.00%(3.5)11.76%
Gate City Bank-0.00%(3.5)17.65%
US Bank-0.00%(3.5)17.65%
Wells Fargo Bank0.00%(3.5)23.53%
Bremer Bank0.00%(3.5)29.41%
Lender NameRate DifferenceRate RatingMarket Share
Bell Bank-0.00%(3.5)18.18%
US Bank-0.00%(3.5)9.09%
Gate City Bank-0.00%(3.5)9.09%
Wells Fargo Bank-0.00%(3.5)36.36%
Bremer Bank0.01%(3.5)27.27%
Lender NameRate DifferenceRate RatingMarket Share
Bremer Bank-0.00%(3.5)33.33%
Gate City Bank-0.00%(3.5)33.33%
US Bank0.00%(3.5)33.33%
Lender NameRate DifferenceRate RatingMarket Share
Gate City Bank-0.02%(3.5)11.54%
Bremer Bank-0.01%(3.5)11.54%
US Bank-0.01%(3.5)7.69%
Tradition Mortgage-0.01%(3.5)7.69%
Wells Fargo Bank-0.01%(3.5)7.69%
Quicken Loans0.01%(3.5)53.85%
Lender NameRate DifferenceRate RatingMarket Share
Gate City Bank-0.01%(3.5)27.27%
Wells Fargo Bank-0.00%(3.5)9.09%
Bremer Bank0.00%(3.5)18.18%
Tradition Mortgage0.00%(3.5)18.18%
US Bank0.01%(3.5)9.09%
Quicken Loans0.01%(3.5)18.18%
Lender NameRate DifferenceRate RatingMarket Share
Bremer Bank-0.03%(3.5)6.67%
US Bank-0.02%(3.5)6.67%
Wells Fargo Bank-0.00%(3.5)6.67%
Quicken Loans0.00%(3.5)80.00%

* Data is compiled for the Fergus Falls, MN commuting zone area, which comprises of counties of Otter Tail County, MN, Todd County, MN, and Wadena County, MN. This includes cities/towns/communities of Fergus Falls, MN as well as Vergas, MN, Long Prairie, MN, Perham, MN, Dent, MN, Elizabeth, MN, Richville, MN, Osakis, MN, Ottertail, MN, Vining, MN, Battle Lake, MN, Henning, MN, Rothsay, MN, Staples, MN, Staples, MN, Urbank, MN, Browerville, MN, Wadena, MN, Nimrod, MN, Grey Eagle, MN, Pelican Rapids, MN, Clarissa, MN, and Bertha, 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.

Mortgage Lender Rankings in Other Cities

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