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Dayton, MN

The Best Mortgage Lenders in Dayton, MN

Compare verified mortgage lenders serving Dayton, Minnesota. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.

3
Top Lenders
4.8
Avg Rating
400+
Reviews
9
Loan Types

Available Loan Programs in Dayton

Conventional
FHA
VA
USDA
Jumbo
Refinance
First-time Homebuyer
Construction
Renovation

Featured Mortgage Lenders

1

Scott Anderson

CrossCountry Mortgage, LLC - Maple Grove

★★★★☆
4.9/5

CrossCountry Mortgage's Maple Grove office is one of the highest-rated mortgage lenders serving the Dayton area, with Scott Anderson and his team maintaining exceptional customer satisfaction ratings. They specialize in personalized service for both purchase and refinance transactions, offering competitive rates across all loan programs. Their local expertise in the northwest Twin Cities metro, including Dayton, combined with national lending capabilities makes them a top choice for homebuyers seeking comprehensive mortgage solutions with outstanding customer service.

Experience:22 years
Reviews:184 customer reviews
7767 Elm Creek Blvd #140, Maple Grove, MN 55369

Loan Types:

ConventionalFHAVAUSDAJumboRefinanceFirst-time Homebuyer
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2

Mark Sterling

Sterling Mortgage

★★★★☆
4.8/5

Sterling Mortgage has built an outstanding reputation serving the entire northwest Twin Cities metro area, including Dayton residents. As a locally-owned and operated mortgage company, they provide personalized attention and competitive rates with a focus on construction and renovation lending. Their team of experienced loan officers understands the specific needs of Dayton homebuyers, offering flexible underwriting and streamlined processes. With hundreds of satisfied customers and strong community ties, they consistently deliver exceptional mortgage experiences.

Experience:18 years
Reviews:127 customer reviews
16244 County Road 30, Plymouth, MN 55447

Loan Types:

ConventionalFHAVAUSDAConstructionRenovationRefinance
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3

Mike Rantala

Bell Bank Mortgage

★★★★☆
4.7/5

Bell Bank Mortgage has been a trusted regional lender serving Minnesota communities for decades, with their Plymouth location conveniently serving Dayton residents. They offer competitive rates and a wide range of mortgage products, backed by the stability of one of Minnesota's largest independently-owned banks. Their local loan officers provide personalized service with quick turnaround times, and their "Pay It Forward" program demonstrates strong community commitment. Bell Bank's combination of local decision-making and comprehensive lending options makes them a top choice for Dayton homebuyers.

Experience:15 years
Reviews:89 customer reviews
15700 37th Ave N, Plymouth, MN 55446

Loan Types:

ConventionalFHAVAJumboFirst-time HomebuyerRefinanceConstruction
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Frequently Asked Questions

Common questions about mortgage lending in Dayton, MN

What are the current mortgage rates like for homebuyers in Dayton, MN?

Mortgage rates in Dayton typically align with national averages but can be influenced by local market competition. Currently, rates for 30-year fixed mortgages in the Twin Cities metro area, including Dayton, range from the mid-6% to low-7% range. It's wise to compare offers from both local Minnesota lenders and national institutions, as local lenders often have better insight into Dayton's specific market conditions.

Are there any first-time homebuyer programs specifically available in Dayton, MN?

Yes, Dayton homebuyers can access Minnesota Housing's First-Time Homebuyer Program, which offers competitive interest rates and down payment assistance. Additionally, the City of Dayton doesn't currently offer its own local program, but neighboring cities in Hennepin County sometimes have initiatives that Dayton residents may qualify for. Working with a mortgage lender familiar with Minnesota Housing programs is crucial for accessing these benefits.

How does Dayton's location in the Twin Cities metro affect mortgage lending requirements?

Dayton's position in the Minneapolis-St. Paul metropolitan area means lenders consider it part of a stable, diversified housing market. This can sometimes result in more favorable lending terms compared to rural areas. However, lenders also account for the competitive Twin Cities market, which may require stronger financial profiles and potentially larger down payments to compete effectively in Dayton's housing inventory.

What special considerations should I know about property taxes when getting a mortgage in Dayton?

Dayton has property tax rates that are generally competitive within Hennepin County, currently around 1.1-1.3% of assessed value. Your mortgage lender will factor these taxes into your monthly payment through an escrow account. It's important to note that Dayton's proximity to major employment centers and quality school districts can influence property values and subsequent tax assessments.

Are there any unique closing costs or fees specific to mortgage loans in Dayton, MN?

While most closing costs are standard across Minnesota, Dayton homebuyers should be aware of specific Hennepin County recording fees and transfer taxes. Additionally, some Dayton properties may require specific inspections or certifications due to local ordinances. Working with a local real estate attorney or title company familiar with Dayton's requirements can help identify any municipality-specific fees early in the process.

Mortgage Insights

Finding Your First Home Loan: A Dayton, MN Homebuyer's Guide to Top Lenders

Stepping into the Dayton, Minnesota housing market as a first-time buyer is an exciting journey. You're looking at communities with a blend of scenic riverside living and convenient access to the Twin Cities, but before you fall in love with a property, you need to secure the right financing. Searching for the "best mortgage lenders for first-time buyers near me" is more than just comparing rates; it's about finding a partner who understands your unique position and the local landscape.

In Dayton's competitive market, where well-priced homes can move quickly, having a responsive and knowledgeable lender is crucial. The best lenders for first-timers here aren't just the biggest national banks; they are often local credit unions and regional banks that have deep roots in Minnesota and offer personalized guidance. Institutions like Affinity Plus Federal Credit Union or Wings Financial Credit Union are consistently praised for their first-time homebuyer education and competitive loan products. Similarly, local mortgage brokers with strong ties to the Twin Cities metro can be invaluable, as they have access to a wide array of loan programs and can often navigate the process more flexibly.

Your search should heavily consider lenders who are experts in Minnesota-specific assistance programs. The Minnesota Housing Finance Agency (MHFA) offers fantastic programs like Start Up, which provides affordable fixed-rate mortgages and down payment assistance for eligible first-time buyers. Not every lender is approved to offer these state-backed loans, so prioritizing a MHFA Participating Lender is a smart first filter. These lenders are trained to help you leverage these programs, which can significantly lower your upfront costs—a major hurdle in today's market.

As a Dayton buyer, here is your actionable plan:

1. Get Pre-Approved, Not Just Pre-Qualified: Before you seriously shop, get a full pre-approval from a local lender. This shows sellers you're a serious and vetted buyer, giving you an edge in multiple-offer situations common in the Dayton area.

2. Ask the Right Local Questions: When interviewing lenders, ask: "How many MHFA loans did you close last year?" and "Can you walk me through the specifics of the Dayton city and Wright County property tax process?" Their answers will reveal their local expertise.

3. Explore All Your Options: Compare offers from at least one local credit union, one regional bank, and one mortgage broker. Pay close attention to customer service, communication style, and their ability to explain the "why" behind their recommendations.

4. Factor in All Costs: Remember, your mortgage payment will include property taxes and homeowners insurance. Wright County taxes and the potential for private mortgage insurance (PMI) if your down payment is under 20% are key parts of your monthly budget.

The right lender will do more than fund your loan; they will be a calm, guiding voice through the process. By focusing on local expertise and Minnesota's unique homebuyer programs, you'll find a partner to help you confidently unlock the door to your first home in Dayton.

Nearby Cities

Explore mortgage lenders in cities near Dayton, MN

Why Choose a Mortgage Lender in Dayton?

Local Market Knowledge

Lenders who understand Dayton'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 Dayton and get competitive rates on your home loan.