The Best Mortgage Lenders in Ellsworth, MN
Compare verified mortgage lenders serving Ellsworth, Minnesota. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Ellsworth
Featured Mortgage Lenders
Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a highly-rated national mortgage lender known for its competitive rates, efficient online platform, and exceptional customer service. With over two decades of experience, they offer a wide range of loan products and have local loan officers serving Minnesota, including Ellsworth. Their strong reputation is built on transparency, quick processing times, and high customer satisfaction, making them a top choice for homebuyers in rural areas.
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Caliber Home Loans
Caliber Home Loans, Inc.
Caliber Home Loans is a reputable mortgage lender with a strong focus on personalized service and community engagement. They excel in serving both urban and rural markets, including Ellsworth, Minnesota, with a variety of loan options tailored to first-time homebuyers and refinancers. Their dedication to customer care, combined with competitive rates and a streamlined application process, has earned them high ratings and trust among borrowers in the region.
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loanDepot
loanDepot, LLC
loanDepot offers a modern, digital mortgage experience with a commitment to affordability and convenience. As a national lender, they serve Ellsworth and surrounding areas in Minnesota, providing competitive rates and a broad array of loan products. Their innovative technology, coupled with dedicated support teams, ensures a smooth borrowing process, backed by numerous positive reviews for reliability and customer satisfaction.
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Frequently Asked Questions
Common questions about mortgage lending in Ellsworth, MN
What are the current mortgage rates like for homes in Ellsworth, MN?
Mortgage rates in Ellsworth are generally competitive with national averages, but can be slightly influenced by the rural nature of Nobles County. As of late 2023, rates for a 30-year fixed mortgage typically range from 6.5% to 7.5%, but it's best to check with local lenders like United Prairie Bank or First State Bank Southwest for the most current Ellsworth-specific rates.
Are there any first-time homebuyer programs specifically available in Ellsworth?
Yes, Ellsworth homebuyers can access Minnesota Housing's First-Time Homebuyer Program, which offers competitive interest rates and down payment assistance. Additionally, some local lenders may offer special programs for first-time buyers in the Ellsworth area, so it's worth asking about locally-specific incentives when you apply.
How does Ellsworth's rural location affect the mortgage process?
Ellsworth's rural setting can sometimes mean fewer local lender options, but nearby Worthington lenders serve the area well. The appraisal process may require specialists familiar with rural property valuations, and some USDA Rural Development loans are particularly advantageous here since Ellsworth qualifies for these zero-down-payment programs.
What special mortgage considerations should I know about for buying a farm property near Ellsworth?
For farm properties in the Ellsworth area, you'll typically need an agricultural mortgage rather than a standard residential loan. These require different qualification criteria, including farm operation experience and business plans. Local lenders like Profinium Bank who understand the agricultural economy of Nobles County are best equipped to handle these specialized loans.
Are property taxes in Ellsworth typically higher or lower than surrounding areas?
Ellsworth property taxes are generally reasonable compared to larger Minnesota cities, with Nobles County's agricultural tax base helping keep rates manageable. Current effective property tax rates in the Ellsworth area range from 1.0% to 1.3% of home value, but exact amounts depend on the specific property's classification and improvements.
Why Choose a Mortgage Lender in Ellsworth?
Local Market Knowledge
Lenders who understand Ellsworth'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 Ellsworth and get competitive rates on your home loan.