The Best Mortgage Lenders in Long Lake, MN
Compare verified mortgage lenders serving Long Lake, Minnesota. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Long Lake
Featured Mortgage Lenders
Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a top-rated national mortgage lender with a strong local presence in the Twin Cities metro area, including Long Lake. Known for its competitive rates and digital mortgage process, the company has earned high customer satisfaction scores for its efficient service and wide range of loan products. With over two decades of experience, they specialize in quick closings and personalized service, making them a preferred choice for homebuyers in Minnesota seeking reliability and innovation in mortgage lending.
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Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is a highly reputable lender with deep roots in the Midwest, serving Long Lake and surrounding communities. They are praised for exceptional customer service, local expertise, and a commitment to finding the best loan options for each client. With nearly three decades in business, they offer a full suite of mortgage products and are known for their community involvement and transparent, hassle-free processes, consistently receiving high marks from borrowers for reliability and support.
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Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is a nationally recognized lender with a strong regional presence in Minnesota, including service to Long Lake. They are acclaimed for their fast processing times, competitive rates, and dedication to customer satisfaction. Founded in 2008, they combine modern technology with personalized service, offering a variety of loan programs tailored to diverse needs. Their local loan officers provide expert guidance, and the company has built a solid reputation for integrity and community focus, making them a trusted option for mortgages in the area.
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Frequently Asked Questions
Common questions about mortgage lending in Long Lake, MN
What are current mortgage rates like for homes in Long Lake, MN?
Mortgage rates in Long Lake typically align with national averages but can vary based on property type and loan amount. Given Long Lake's desirable lakefront properties, jumbo loans for higher-value homes may carry slightly higher rates. It's best to consult with local lenders who understand the specific market dynamics of this western Minneapolis suburb.
Are there any first-time homebuyer programs specific to Long Lake?
While Long Lake doesn't have city-specific programs, Hennepin County offers several first-time homebuyer programs accessible to Long Lake residents. These include down payment assistance and favorable loan terms. Additionally, Minnesota's Housing Finance Agency programs are available, which can be particularly helpful given Long Lake's above-average home prices.
How does owning lakefront property in Long Lake affect my mortgage options?
Lakefront properties in Long Lake often require specialized lending considerations. Lenders may require additional appraisals and higher down payments (sometimes 20% or more) for waterfront homes. You'll also want to ensure your lender has experience with lake property financing, as these homes typically have higher insurance requirements and different valuation approaches.
What should I know about property taxes when getting a mortgage in Long Lake?
Long Lake property taxes are relatively high compared to national averages, typically ranging from 1.1% to 1.3% of home value. Your mortgage lender will factor these into your debt-to-income ratio calculations. It's important to budget for both Hennepin County taxes and any potential special assessments common in lakeside communities for infrastructure maintenance.
Are there any special considerations for condominium mortgages in Long Lake?
Yes, condominium financing in Long Lake requires careful review of the association's financial health and reserves, particularly for older buildings near the lake. Lenders will scrutinize the percentage of owner-occupied units and any pending special assessments. Given Long Lake's limited condo inventory, working with a lender familiar with local condo developments is advisable.
Nearby Cities
Explore mortgage lenders in cities near Long Lake, MN
Why Choose a Mortgage Lender in Long Lake?
Local Market Knowledge
Lenders who understand Long Lake'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 Long Lake and get competitive rates on your home loan.