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Lake County, Minnesota
Mortgage lending record for properties in the county, calendar year 2024.
HMDA data alone cannot be used to determine whether a lender is complying with fair lending laws. The data do not include some legitimate credit risk considerations for loan approval and loan pricing decisions. Cells under 25 applications are withheld.
Lake County, Minnesota, saw 439 HMDA-reported applications and 335 originations ($68m) in 2024.
That is 67.8 originations per 1,000 households, against 48.8 for Minnesota and 48.0 nationally.
The county's denial rate was 13.6%, below the state rate of 16.9%. The median rate spread on originated loans was 0.4 percentage points and 7.8% of originations were 1.5 points or more above the average prime offer rate.
4 lenders reached 25 applications in the county; the most active by originations were North Shore Federal Credit Union (59), Two Harbors FCU (56) and Park State Bank (27).
Originations were about level with 2023.
Most active lenders
| # | Lender | Applications | Originations | Amount | Denial rate | Median spread |
|---|---|---|---|---|---|---|
| 1 | North Shore Federal Credit Union | 78 | 59 | $8.7m | 14.5% | — |
| 2 | Two Harbors FCU | 58 | 56 | $3.5m | 3.4% | — |
| 3 | Park State Bank | 37 | 27 | $6.6m | 10.0% | — |
| 4 | North Shore Bank of Commerce | 27 | 24 | $6.6m | 3.8% | — |
Lenders with at least 25 applications in the county, by originations; up to 40 shown of 4. Denial rate is denials over decided applications in this county.
Compared with Minnesota and the nation
| Measure | This county | Minnesota | United States |
|---|---|---|---|
| Denial rate | 13.6% | 16.9% | 24.3% |
| Median rate spread, pp | 0.4 | 0.4 | 0.3 |
| Originations with spread of 1.5 pp or more | 7.8% | 13.2% | 15.6% |
| Average originated loan | $203k | $269k | $329k |
| Originations per 1,000 households | 67.8 | 48.8 | 48.0 |
| Home purchase share of originations | 50.4% | 60.9% | 57.0% |
| FHA-insured share | 5.4% | 7.9% | 13.4% |
| VA-guaranteed share | 2.7% | 4.6% | 7.9% |
Rate spread distribution
Share of 245 originated loans with a reported rate spread, by spread over the average prime offer rate (outlined bar: Minnesota). Loans at 1.5 points or more on a first lien are what Regulation C calls higher-priced.
Loan purpose and loan type
By purpose
Home purchase 50% (169)Home improvement 6% (21)Refinancing 7% (22)Cash-out refinancing 24% (81)Other purpose 13% (42)
By type
Conventional 92% (307)FHA 5% (18)VA 3% (9)USDA 0% (1)
Trend by year
ApplicationsOriginations
This countyMinnesota
Questions and answers
Which lenders are most active in Lake County, MN?
By 2024 originations: North Shore Federal Credit Union (59), Two Harbors FCU (56), Park State Bank (27), North Shore Bank of Commerce (24). 4 lenders had at least 25 applications in the county.
What is the mortgage denial rate in Lake County?
13.6% of decided applications were denied in 2024, against 16.9% across Minnesota and 24.3% nationally.
How many mortgages were originated in Lake County in 2024?
335 loans totalling $68m, from 439 applications; 67.8 originations per 1,000 households.
Where does this data come from?
From the 2024 public HMDA loan/application register (FFIEC and CFPB), by property county; households from the Census Bureau American Community Survey 2024 five-year estimates.
Provenance
Source: HMDA public loan/application register 2022, 2023, 2024 (FFIEC and CFPB, public domain), records with a property in county FIPS 27075; households and population from the U.S. Census Bureau (ACS 2024 five-year estimates; Vintage 2024 population estimates). Built 30 Sep 2026; data through 1 Aug 2026. See methodology and corrections.