Our analysis of 2025 HMDA data. Rates are medians on loans actually opened.
Why HELOCs were denied in Duluth, MN-WI
First reason lenders gave, share of denials with a reason reported.
Denial rate by debt-to-income
Duluth, MN-WI HELOC applications, 2025.
| Debt-to-income | Decisions | Denied |
|---|---|---|
| Under 20% | 60 | 27% |
| 20% to 29% | 169 | 15% |
| 30% to 35% | 117 | 14% |
| 36% to 42% | 174 | 19% |
| 43% to 49% | 146 | 20% |
| 50% to 60% | 50 | 58% |
If you were denied a HELOC in Duluth, MN-WI
5 of the six major home equity investment providers list Minnesota, Wisconsin as a service area: CHEIFS, Hometap, Point, Unison, Unlock. See which could fit you.
Compare a HELOC, home equity loan, cash-out refinance, and home equity investment side by side, with your own approval odds, in the home equity options tool. A HELOC like the typical 2025 loan here would start around 7.13% at today’s prime rate.
Other metro areas in Minnesota
Minneapolis, MN-WI (28%) · Rochester, MN (22%) · St. Cloud, MN (27%) · All 358 metro areas
Questions
What is the HELOC denial rate in Duluth, MN-WI?
Lenders denied 25.2% of the 758 HELOC applications they decided in the Duluth, MN-WI metro area in 2025, below the national rate of 32.9%, according to federal HMDA data.
Why do HELOCs get denied in Duluth, MN-WI?
The most common first reason lenders gave was debt-to-income ratio (37% of denials with a reason reported).
What is a typical HELOC rate in Duluth, MN-WI?
The median starting rate on HELOCs opened in the Duluth, MN-WI area in 2025 was 7.50%. HELOC rates move with the prime rate, which has changed by -0.37 points since, so a similar loan today would start around 7.13%. Your rate depends on your credit, equity, and lender.
Source: FFIEC / CFPB HMDA data, 2025, second-lien HELOCs and home equity loans with a credit decision, by the metro area HMDA assigns. Metro names: U.S. Census Bureau. Free to use with attribution (CC BY 4.0). Methodology: HELOC denial data.
HEI Calculator
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HEI Compare
Point, Hometap, Unlock, Unison, Splitero and CHEIFS side by side, with reviews and head-to-heads.
HEI Offers
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