The Best Mortgage Lenders in Clearwater, MN
Compare verified mortgage lenders serving Clearwater, Minnesota. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Clearwater
Featured Mortgage Lenders
Affinity Plus Federal Credit Union
Affinity Plus Federal Credit Union
Affinity Plus Federal Credit Union stands out as one of Minnesota's most trusted mortgage lenders with over 90 years of service. While headquartered in St. Paul, they serve the entire state including Clearwater through their extensive branch network and digital services. They consistently receive exceptional ratings for personalized service, competitive rates, and their member-first approach. Their mortgage specialists provide comprehensive guidance through the entire home buying process, offering specialized programs for first-time homebuyers and various loan options to meet different financial situations.
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Bell Bank Mortgage
Bell Bank Mortgage
Bell Bank Mortgage has built an outstanding reputation across Minnesota with exceptional customer satisfaction ratings and decades of mortgage lending expertise. They serve Clearwater and surrounding communities with a focus on personalized service and competitive loan products. Known for their "Pay It Forward" philosophy and community involvement, Bell Bank offers a full range of mortgage options with local decision-making and dedicated loan officers who provide hands-on guidance throughout the entire mortgage process.
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CrossCountry Mortgage
CrossCountry Mortgage, LLC
CrossCountry Mortgage has established a strong presence in the Minnesota market with local offices serving the Clearwater area. They combine national lending power with local expertise, offering a comprehensive suite of mortgage products and highly competitive rates. Their team of experienced loan officers provides personalized service and guidance, particularly valued for their responsiveness and ability to handle complex lending scenarios. They receive consistently high marks for their streamlined application process and commitment to closing loans on time.
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Frequently Asked Questions
Common questions about mortgage lending in Clearwater, MN
What are typical mortgage rates for homebuyers in Clearwater, MN?
Mortgage rates in Clearwater typically align with national averages but can vary based on property type and location within the area. For conventional 30-year fixed loans, rates generally range from 6.5% to 7.5% as of 2024, though rural properties may have slightly different rates. Working with a local lender familiar with Wright County's market can help secure the most competitive rates for your specific situation.
Are there any first-time homebuyer programs specific to Clearwater, MN?
Yes, Clearwater homebuyers can access Minnesota Housing's First-Time Home Buyer Program, which offers competitive interest rates and down payment assistance. Additionally, the USDA Rural Development loan program is particularly relevant for properties in and around Clearwater, offering 100% financing with no down payment requirement for eligible borrowers in this designated rural area.
How does Clearwater's rural location affect mortgage lending options?
Clearwater's rural designation opens up specialized lending programs not available in urban areas. USDA loans are particularly advantageous here, offering zero down payment options for qualified buyers. However, some lenders may have stricter requirements for rural property types common in the area, such as homes with wells and septic systems, so it's important to work with lenders experienced with Wright County properties.
What should I know about property taxes when getting a mortgage in Clearwater?
Clearwater property taxes in Wright County are generally competitive, averaging around 1.0-1.2% of home value annually. When calculating your mortgage payment, lenders will include these taxes in your escrow account. It's important to note that property taxes can vary between Clearwater Township and the city proper, so verify the exact tax rate for your specific property location.
Are there any local down payment assistance programs for Clearwater homebuyers?
While Clearwater itself doesn't offer city-specific programs, homebuyers can access Wright County's Community Action Partnership programs and Minnesota's statewide down payment assistance options. The Start Up program from Minnesota Housing provides up to $15,000 in down payment assistance as a second mortgage with 0% interest, which is particularly helpful given Clearwater's median home prices.
Why Choose a Mortgage Lender in Clearwater?
Local Market Knowledge
Lenders who understand Clearwater'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 Clearwater and get competitive rates on your home loan.