The Best Mortgage Lenders in Arlington, MN
Compare verified mortgage lenders serving Arlington, Minnesota. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Arlington
Featured Mortgage Lenders
Scott Anderson
Anderson Mortgage Services
Anderson Mortgage Services is a highly-rated local mortgage brokerage serving Arlington and surrounding communities for nearly two decades. Scott Anderson and his team are known for their personalized service and expertise in rural housing loans, including USDA programs that benefit many Arlington area homebuyers. They maintain strong relationships with multiple lenders to secure competitive rates and have built an outstanding reputation for guiding first-time homebuyers through the entire mortgage process with exceptional care and attention to detail.
Loan Types:
Mortgage Department
United Minnesota Bank
United Minnesota Bank is a community bank with deep roots in Arlington and the surrounding Sibley County area. Their mortgage department has earned excellent reviews for their local decision-making process and understanding of the unique rural and small-town real estate market. As a locally-owned institution, they offer personalized service with loan officers who know the community intimately. They're particularly strong with agricultural property financing and construction loans, making them a top choice for Arlington residents seeking local banking relationships with competitive mortgage products.
Loan Types:
Mortgage Center
Affinity Plus Federal Credit Union
Affinity Plus Federal Credit Union is a highly-regarded Minnesota-based credit union that actively serves the Arlington area with competitive mortgage rates and exceptional member service. While headquartered in St. Paul, they have a strong presence throughout Minnesota and offer specialized first-time homebuyer programs that are popular in the Arlington market. Their not-for-profit structure allows them to offer lower fees and rates than many traditional banks, and they receive consistently high marks for their educational approach to mortgage lending and transparent process.
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Frequently Asked Questions
Common questions about mortgage lending in Arlington, MN
What are the current average mortgage rates for homebuyers in Arlington, MN?
Mortgage rates in Arlington typically align with national averages but can be slightly lower due to the area's stable, rural housing market. As of recent data, 30-year fixed rates in Carver County generally range from 6.5% to 7%, but it's best to check with local lenders like Arlington State Bank or Carver County-based credit unions for the most accurate, personalized rates based on your financial profile.
Are there any first-time homebuyer programs specifically available in Arlington, MN?
Yes, Arlington homebuyers can access Minnesota Housing's First-Time Home Buyer Program, which offers competitive interest rates and down payment assistance. Additionally, Carver County may have local initiatives or grants, so it's worthwhile to consult with a mortgage advisor familiar with Arlington's specific opportunities to maximize available benefits.
How does Arlington's rural location impact the mortgage appraisal process?
Due to Arlington's rural setting and smaller housing inventory, appraisals can sometimes be challenging as comparable home sales ("comps") may be limited. Lenders often work with appraisers experienced in rural Carver County properties to ensure accurate valuations, but buyers should be prepared for potential variability in appraised values compared to urban areas.
What types of properties in Arlington might qualify for USDA rural housing loans?
Most of Arlington qualifies for USDA loans due to its population under 35,000 and rural designation. Single-family homes, townhomes, and approved condos in Arlington are typically eligible, offering 100% financing options. Buyers should verify specific property eligibility through the USDA eligibility website and work with a lender experienced in these loans.
How do property taxes in Arlington compare to surrounding areas, and how do they affect mortgage payments?
Arlington's property taxes are generally lower than in larger Twin Cities suburbs but slightly higher than some more remote rural areas. Carver County's effective tax rate for Arlington properties typically ranges from 1.0% to 1.3% of home value. These taxes are escrowed into your monthly mortgage payment, so factor in approximately $200-$400 monthly for taxes on a $300,000 home.
Why Choose a Mortgage Lender in Arlington?
Local Market Knowledge
Lenders who understand Arlington's housing market can offer better guidance and competitive rates.
Multiple Loan Options
Access to conventional, FHA, VA, USDA, and jumbo loans tailored to your financial situation.
Proven Track Record
Work with lenders who have years of experience and hundreds of satisfied customers in Minnesota.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Arlington and get competitive rates on your home loan.