The Best Mortgage Lenders in Elizabeth, MN
Compare verified mortgage lenders serving Elizabeth, Minnesota. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Elizabeth
Featured Mortgage Lenders
Jason Hovde
Bell Bank Mortgage
Bell Bank Mortgage is one of Minnesota's most trusted mortgage lenders with a strong presence in the Alexandria area serving Elizabeth and surrounding communities. With exceptional 4.9-star ratings across multiple platforms, they're renowned for their personalized service, competitive rates, and deep understanding of rural Minnesota real estate. Their experienced loan officers specialize in both conventional and government-backed loans, making them an excellent choice for the diverse housing needs of Douglas County residents.
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Brent R. Berscheid
Bremer Bank
Bremer Bank has been serving the Alexandria region and Elizabeth area for decades with a reputation for exceptional customer service and community commitment. Their mortgage team consistently earns high marks for responsiveness, local market knowledge, and helping clients navigate the entire home financing process. As a regional bank deeply embedded in Minnesota communities, they offer the stability of an established financial institution with the personal touch of local decision-making and relationship-based lending.
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Member Services
Affinity Plus Federal Credit Union
Affinity Plus Federal Credit Union serves members throughout Minnesota, including the Elizabeth area, with highly competitive mortgage rates and exceptional member service. As a not-for-profit financial cooperative, they consistently rank among Minnesota's top mortgage lenders for customer satisfaction. Their digital mortgage application process combined with personalized guidance from experienced loan officers makes them a popular choice for borrowers seeking both convenience and human support throughout the home financing journey.
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Frequently Asked Questions
Common questions about mortgage lending in Elizabeth, MN
What are the current mortgage rates like for homes in Elizabeth, MN?
Mortgage rates in Elizabeth are generally competitive with national averages, but local lenders may offer slightly different terms based on property types common in the area, such as rural homes or acreages. It's wise to compare rates from both local community banks and larger regional lenders serving the Northwest Minnesota area. Current rates typically range from the mid-6% to low-7% for 30-year fixed mortgages, depending on credit qualifications.
Are there any special mortgage programs for first-time homebuyers in Elizabeth?
Yes, Elizabeth homebuyers can access Minnesota Housing's first-time homebuyer programs, which offer competitive interest rates and down payment assistance. These programs are particularly valuable in Elizabeth where household incomes may be lower than metro areas. Additionally, some local lenders may offer portfolio loan products specifically designed for rural properties common in the area.
How does Elizabeth's rural location affect the mortgage process?
Elizabeth's rural setting can impact appraisals, as comparable properties may be farther apart and less recent, potentially requiring more time. Some lenders may have specific requirements for properties with wells and septic systems, which are common in the area. It's advisable to work with lenders experienced in rural Minnesota properties to navigate these considerations smoothly.
What types of properties typically qualify for USDA loans in Elizabeth?
Most of Elizabeth and surrounding Polk County qualifies for USDA Rural Development loans, which offer 100% financing. These loans are ideal for the area's single-family homes, including properties on larger lots. Eligibility depends on the property meeting USDA standards and the buyer's income falling within program limits, which are generous for this region.
Are there any local property tax considerations I should know about for mortgages in Elizabeth?
Elizabeth homeowners benefit from Minnesota's homestead classification, which can significantly reduce property taxes on primary residences. Property taxes in Polk County are generally lower than urban areas, but it's important to factor in potential special assessments for rural road maintenance. Your lender can help estimate property taxes during the mortgage pre-approval process.
Why Choose a Mortgage Lender in Elizabeth?
Local Market Knowledge
Lenders who understand Elizabeth'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 Elizabeth and get competitive rates on your home loan.