Metro area · MN
Lenders in Mankato, MN
17 lenders made 75 multifamily loans in the Mankato, MN metro area in 2024 and 2025, $229M in all. Community Bank Mankato made the most, with 26. The typical loan was about $1.2M.
- Evidence
- Multifamily loans placed in the metro area, HMDA
- Data as of
- HMDA 2025
- Page last changed
- November 11, 2026
- Lenders on record
- 17
- HMDA,
- Multifamily loans, 2024-25
- 75
- HMDA,
- Manufactured-home parks excluded
- Dollars
- $229M
- HMDA,
- Typical loan
- $1.2M
- HMDA,
Cite this
Source: The Lender Report, Lenders in Mankato, MN, https://lender.report/lenders-in/mankato-mn/, data as of December 31, 2025.
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This page lists who has made multifamily loans here. Loan Comps shows who has made a loan like yours, with the loans to prove it.
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| Lender | Kind | Based in | Loans | Dollars | 2025 loans | 2024 loans |
|---|---|---|---|---|---|---|
| Community Bank Mankato multifamily record | Bank | Vernon Center, MN | 26 | $65.0M | 7 | 19 |
| Pioneer Bank multifamily record | Bank | Mapleton, MN | 17 | $44.1M | 8 | 9 |
| Frandsen Bank & Trust multifamily record | Bank | Lonsdale, MN | 6 | $6.39M | 4 | 2 |
| Minnstar Bank National Association multifamily record | Bank | Lake Crystal, MN | 5 | $3.64M | 3 | 2 |
| Old National Bank multifamily record | Bank | Evansville, IN | 4 | $2.68M | 1 | 3 |
| BankVista multifamily record | Bank | Sartell, MN | 3 | $4.30M | 2 | 1 |
| Minnwest Bank multifamily record | Bank | Redwood Falls, MN | 2 | $27.8M | 2 | 0 |
| U.S. Bank National Association multifamily record | Bank | Cincinnati, OH | 2 | $16.1M | 1 | 1 |
| First National Bank Minnesota | Bank | Saint Peter, MN | 2 | $1.34M | 2 | 0 |
| Colliers Mortgage LLC multifamily record | Non-bank | Minneapolis, MN | 1 | $24.0M | 1 | 0 |
| Bellwether Enterprise Real Estate Capital, LLC multifamily record | Non-bank | Cleveland, OH | 1 | $15.0M | 0 | 1 |
| Merchants Bank, National Association multifamily record | Bank | Winona, MN | 1 | $9.50M | 1 | 0 |
| CCFBank National Association multifamily record | Bank | Altoona, WI | 1 | $4.00M | 1 | 0 |
| Bridgewater Bank multifamily record | Bank | Saint Louis Park, MN | 1 | $1.90M | 1 | 0 |
| Bank Midwest multifamily record | Bank | Spirit Lake, IA | 1 | $1.40M | 1 | 0 |
| County | Loans | Dollars | Lenders |
|---|---|---|---|
| Blue Earth County, MN | 50 | $161M | 14 |
| Nicollet County, MN | 25 | $68.3M | 10 |
A county is listed for a year only when the public file holds 5 or more multifamily loans there that year.
| Loan size | Loans |
|---|---|
| Under $1M | 31 |
| $1M to $2.5M | 19 |
| $2.5M to $5M | 12 |
| $5M to $10M | 9 |
| $10M or more | 4 |
- Lenders made 75 multifamily loans totaling $229M in Mankato, MN in 2024 and 2025. HMDA,
- 36 of the loans were made in 2025 and 39 in 2024. HMDA,
- The typical loan in Mankato, MN was about $1.2M, with the middle half between $380K and $4.3M. HMDA,
- 31 of the loans were under $1M, and 13 were $5M or more. HMDA,
- Lenders reported a median rate of 6.59% on 16 loans in Mankato, MN, with the middle half between 6.25% and 7.00%. HMDA,
- The median term was 5 years. HMDA,
- The median loan to value was 70%. HMDA,
- 33% of the loans were refinancings and 57% were purchases. HMDA,
- Banks and savings institutions made 73 of the loans, credit unions 0, and non-banks 2. HMDA,
- The five most active lenders made 77.3% of the loans. HMDA,
- The three most active lenders were Community Bank Mankato with 26, Pioneer Bank with 17, and Frandsen Bank & Trust with 6. HMDA,
- 11 of the 17 lenders are based in Minnesota. The rest are based elsewhere, most often in Ohio, Iowa and Indiana. HMDA,
- The most common property size was 5 to 24 units, with 40 loans. HMDA,
- 2 counties in the metro area have loans on record, and Blue Earth County, MN has the most, with 50. HMDA,
How this list is defined
- Measure
- Multifamily loans made in the Mankato, MN metro area
- Period
- 2024 and 2025
- Formula
- Count, by lender, of HMDA records for multifamily dwellings of 5 or more units placed in the metro area, manufactured-home parks excluded, for each year in which the public file holds 5 or more such loans there.
- Order
- Largest first by loans recorded in the place, then dollars, then name. Payment is not part of the order.
- As of
- 2025
- Source
- HMDA
- Changelog
- : First published, with the data built on this date.
What we don't know
- Whether any of these lenders is taking new loans today.
- What they charge or require beyond the rate and term that HMDA reports.
- Loans on office, retail, industrial or hotel property. HMDA covers dwelling-secured loans only.
A metro area or county is named for a year only when the public file holds 5 or more multifamily loans there that year, so a small place is never exposed by a count.
HMDA covers dwelling-secured loans. Amounts are the midpoints of $10,000 bands, and each loan has a year, never a date.
Lenders that merged or stopped filing are left out.
Source and date appear beside each figure. Banks report balances, not loans made. Loans made come only from HMDA and SBA files. We do not audit filings and can make errors joining them. Report a problem
Figures come from public records and show the source and date beside them. Public records can be late, incomplete or wrong. A past loan does not mean a lender will make the same kind of loan today. Confirm anything important with the lender.