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home improvement loan lenders · HMDA 2023–2025

Home improvement loan lenders in Minnesota

Fat Boy Data analyzed home improvement loan activity in Minnesota to show which lenders are making these loans, how often they approve, how often borrowers accept the offer, and how much they typically finance. 37,244 applications were decided by 276 lenders between 2023 and 2025.

Minnesota at a glance

276Active lenders83 with 20+ decisions
75.1%Market approval rate27,963 of 37,244 decided
$65KTypical loanmedian lender, $10K brackets
93%Borrower take-up25,902 loans funded

How Minnesota compares

Approval rate compared
Minnesota75.1%All 616 counties62.7%
Typical loan compared
Minnesota$65KAll 616 counties$75K

What the data shows

Trustone Financial Credit Union made the most home improvement loans in Minnesota, 3,392 of them.

Novation Credit Union approved the highest share of applications among lenders with at least 20 decisions here, 98% of 59.

Lenders approved 75.1% of home improvement loan applications in Minnesota, 12.4 percentage points above the the United States rate of 62.7%.

The typical home improvement loan here is $65K, 13% smaller than the the United States typical of $75K.

No lender with a meaningful sample here has a typical home improvement loan at or below $35K, so small jobs are poorly served by the banks in this market.

Approval rate of all 60 lenders with 20+ decisions here
0%25%50%75%100%Spring Eq, LLC: 31% approved of 407Discover Bank: 32% approved of 696Alliant Credit Union: 45% approved of 78Bank of America, National Association: 45% approved of 828Fourleaf: 51% approved of 90U.S. Bank National Association: 54% approved of 4,771The Huntington National Bank: 55% approved of 2,324BMO Bank National Association: 56% approved of 465Associated Bank, National Association: 58% approved of 421Pentagon Federal Credit Union: 59% approved of 103Third Federal Savings And Loan Association Of Cleveland: 61% approved of 121Navy Federal Credit Union: 65% approved of 300PNC Bank, National Association: 68% approved of 168Citizens Bank, National Association: 69% approved of 166Wells Fargo Bank, National Association: 69% approved of 98Figure Lending LLC: 73% approved of 588Old National Bank: 73% approved of 638MidWestOne Bank: 75% approved of 105City & County Credit Union: 76% approved of 232Trustone Financial Credit Union: 78% approved of 4,539Royal Credit Union: 78% approved of 816Guaranteed Rate, Inc.: 78% approved of 60Minnwest Bank: 80% approved of 55Minnco Credit Union: 80% approved of 92Nationstar Mortgage LLC: 81% approved of 127Connexus Credit Union: 81% approved of 122Think Mutual Bank: 81% approved of 680Topline Financial Credit Union: 82% approved of 791Frandsen Bank & Trust: 83% approved of 192Rocket Mortgage, LLC: 83% approved of 72Veridian Credit Union: 83% approved of 236Highland Bank: 84% approved of 444Ideal: 84% approved of 737Wings Financial Credit Union: 84% approved of 2,916Members Cooperative: 84% approved of 160Magnifi Financial Credit Union: 85% approved of 171Bell Bank: 87% approved of 1,321First Bank & Trust: 87% approved of 62Expedition Credit Union: 87% approved of 79Genisys Credit Union: 87% approved of 127Sherburne State Bank: 88% approved of 57Blaze Credit Union: 88% approved of 2,281CorTrust Bank National Association: 89% approved of 96Bremer Bank, National Association: 90% approved of 92ALTRA Federal Credit Union: 90% approved of 103Sharepoint Credit Union: 90% approved of 84Heartland Credit Union: 91% approved of 103Baxter Credit Union: 92% approved of 551Alerus Financial, National Association: 92% approved of 306Affinity Plus: 92% approved of 3,055Building Trades Federal Credit Union: 93% approved of 69Mayo Employees Federal Credit Union: 93% approved of 263Hiway Credit Union: 93% approved of 461Anoka Hennepin Credit Union: 93% approved of 173Merchants Bank, National Association: 93% approved of 149Deerwood Bank: 94% approved of 409Centricity Credit Union: 94% approved of 145Associated Healthcare Credit Union: 98% approved of 80Novation Credit Union: 98% approved of 59Coastal Community Bank: 99% approved of 588

Each dot is one lender, placed at its approval rate. Hover for the name and sample size.

Home improvement loan lenders in Minnesota

LenderApprovalApprovedTaken upTypical loanLoans made
1U.S. Bank National Association54%2,554 / 4,77197%$85K2,474
2Trustone Financial Credit Union78%3,519 / 4,53996%$65K3,392
3Affinity Plus92%2,825 / 3,05597%$55K2,743
4Wings Financial Credit Union84%2,458 / 2,91679%$75K1,938
5The Huntington National Bank55%1,271 / 2,32494%$85K1,198

Ranked by lending volume. Approval is the share of decided applications a lender approved; taken up is the share of approvals the borrower accepted. Lenders with fewer than 20 decisions are marked as a limited sample and are never used for a “highest approval” claim. How these numbers are built.

Fat Boy found 271 more lenders.

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Other lending data for Minnesota

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Counties in Minnesota

Hennepin CountyCountyRamsey CountyCountyDakota CountyCountyAnoka CountyCountyWashington CountyCountySt. Louis CountyCountyOlmsted CountyCountyStearns CountyCountyScott CountyCountyWright CountyCountyCarver CountyCounty