The Best Mortgage Lenders in Excelsior, MN
Compare verified mortgage lenders serving Excelsior, Minnesota. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Excelsior
Featured Mortgage Lenders
Chris Kuebler
CrossCountry Mortgage, LLC
Chris Kuebler at CrossCountry Mortgage is one of the highest-rated mortgage professionals serving the Excelsior area with over two decades of experience. Located just minutes from Excelsior in Minnetonka, this branch has built an exceptional reputation for personalized service and competitive rates. Specializing in both purchase and refinance loans, they're particularly noted for their expertise with lake property financing, which is highly relevant for the Excelsior market. Their 4.9 rating across multiple review platforms reflects consistent customer satisfaction and reliable closing processes.
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Mike Ryden
Bell Bank Mortgage
Bell Bank Mortgage has deep roots in Minnesota and maintains a strong presence in the western Twin Cities suburbs including Excelsior. Mike Ryden and his team are known for their competitive jumbo loan programs and exceptional customer service, particularly important for the higher-value properties common around Lake Minnetonka. As a community-focused institution with decades of experience, they offer the stability of a bank with the personalized approach of a local lender. Their 4.8 rating demonstrates consistent excellence in handling complex loan scenarios.
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John Stene
Edina Realty Mortgage
Edina Realty Mortgage has been serving Minnesota homebuyers for nearly 30 years and maintains strong relationships with Excelsior-area real estate professionals. John Stene brings two decades of mortgage expertise with particular knowledge of the Lake Minnetonka market. Their seamless integration with Edina Realty's extensive real estate network provides homebuyers with a coordinated experience from house hunting to closing. The company is highly regarded for their responsive communication and ability to navigate complex transactions, earning them a 4.7 rating from satisfied customers.
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Frequently Asked Questions
Common questions about mortgage lending in Excelsior, MN
What are the current mortgage rates like in Excelsior, MN?
Mortgage rates in Excelsior typically align with national averages but can be slightly higher than surrounding areas due to the premium lakefront properties and competitive housing market. As of late 2023, 30-year fixed rates in Excelsior generally range from 6.5% to 7.25%, though lakefront properties may command slightly higher rates due to their higher appraised values and insurance requirements.
Are there any special mortgage programs for first-time homebuyers in Excelsior?
Yes, Minnesota Housing offers several first-time homebuyer programs that are accessible in Excelsior, including down payment assistance and competitive interest rates. Additionally, some local lenders may offer specialized programs for Excelsior's unique market, particularly for buyers looking at historic homes or properties needing preservation in the downtown area.
How does Excelsior's lakefront location affect mortgage requirements?
Lakefront properties in Excelsior often require additional considerations, including higher down payments (sometimes 20% or more) and specialized flood insurance, which can affect your debt-to-income ratio. Lenders may also require more extensive property appraisals and inspections due to the premium nature of waterfront real estate in this desirable community.
What should I know about property taxes when getting a mortgage in Excelsior?
Excelsior has relatively high property taxes compared to national averages, currently around 1.1-1.3% of assessed value, which lenders factor into your monthly payment calculations. The city's desirable school district (Minnetonka Public Schools) and lake community amenities contribute to these tax rates, so be sure to account for this in your overall housing budget.
How competitive is the mortgage pre-approval process in Excelsior's housing market?
Given Excelsior's competitive real estate market with limited inventory, having a strong pre-approval from a reputable local lender is crucial. Many sellers in this market prefer buyers who work with lenders familiar with Excelsior's unique property types and valuation challenges, particularly for historic homes and lakefront properties that require specialized appraisal expertise.
Nearby Cities
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Why Choose a Mortgage Lender in Excelsior?
Local Market Knowledge
Lenders who understand Excelsior'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 Excelsior and get competitive rates on your home loan.