The Best Mortgage Lenders in Moorhead, MN
Compare verified mortgage lenders serving Moorhead, Minnesota. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Moorhead
Featured Mortgage Lenders
Bell Bank Mortgage
Bell Bank Mortgage
Bell Bank Mortgage is consistently ranked among the top mortgage lenders in the Fargo-Moorhead area, earning exceptional customer satisfaction ratings. As part of the largest independently owned bank in the upper Midwest, they offer personalized service with local decision-making. Their mortgage team has deep expertise in the Moorhead housing market and provides competitive rates across all loan programs. Known for their "Pay It Forward" philosophy and community involvement, they maintain a 4.9-star rating with hundreds of positive reviews highlighting their responsive service, smooth closing processes, and expert guidance for both first-time and experienced homebuyers.
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Gate City Bank
Gate City Bank
Gate City Bank has been serving the Fargo-Moorhead community for over a century and maintains one of the strongest local reputations for mortgage lending. Their experienced loan officers provide exceptional personalized service with a focus on making homeownership accessible. They offer unique local programs including down payment assistance and special first-time homebuyer initiatives. With consistently high customer satisfaction ratings, reviewers frequently praise their knowledgeable staff, competitive rates, and seamless closing experiences. Their deep community roots and commitment to the region make them a trusted choice for Moorhead residents seeking mortgage solutions.
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Wells Fargo Home Mortgage
Wells Fargo Bank, N.A.
Wells Fargo maintains a strong physical presence in the Fargo-Moorhead area with multiple branches and dedicated mortgage specialists serving the community. As one of the nation's largest mortgage lenders, they offer comprehensive loan options and competitive rates while providing local expertise through their Moorhead-area team. Their experienced mortgage consultants have deep knowledge of the local real estate market and can navigate complex financing scenarios. While being a national lender, they maintain local decision-making capabilities and have built strong relationships with Moorhead real estate professionals. Customers appreciate their extensive product selection and the convenience of having both banking and mortgage services in one institution.
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Frequently Asked Questions
Common questions about mortgage lending in Moorhead, MN
What are the current average mortgage rates for homebuyers in Moorhead, MN?
Mortgage rates in Moorhead typically align with national averages but can vary based on local lender competition. As of recent trends, 30-year fixed rates in the Moorhead area generally range from 6.5% to 7.25%, while FHA and VA loans may offer slightly lower rates. It's best to compare offers from local credit unions like Bell Bank or Gate City Bank, which often provide competitive rates for Moorhead residents.
Are there any first-time homebuyer programs specifically available in Moorhead?
Yes, Moorhead homebuyers can access Minnesota Housing's First-Time Homebuyer Program, which offers competitive interest rates and down payment assistance. Additionally, the City of Moorhead occasionally partners with organizations like Lakes & Prairies Community Action Partnership to provide local homebuyer education and assistance programs. These programs are particularly valuable given Moorhead's affordable housing market compared to neighboring Fargo.
How does Moorhead's proximity to Fargo, ND affect mortgage lending options?
Moorhead's location directly across the river from Fargo creates unique lending opportunities, as some lenders operate in both states and can offer cross-border expertise. However, Minnesota's mortgage regulations and property tax structures differ from North Dakota's, so it's crucial to work with lenders familiar with Minnesota-specific requirements. Many Moorhead residents successfully work with lenders who understand both markets.
What special considerations should I know about property taxes when getting a mortgage in Moorhead?
Moorhead property taxes are generally lower than the Minnesota state average, currently around 1.1-1.3% of home value. When calculating your mortgage payment, lenders will include Clay County property taxes in your escrow account. It's important to note that Moorhead has been experiencing modest property value increases, which could affect future tax assessments and your overall housing costs.
Are there any local down payment assistance programs for Moorhead homebuyers?
Yes, Moorhead buyers may qualify for Minnesota Housing's Down Payment Assistance program, which offers up to $17,000 as a deferred, no-interest second mortgage. Additionally, some local employers like Sanford Health and Minnesota State University Moorhead may offer employer-assisted housing programs. First-time buyers should also explore USDA Rural Development loans, as parts of Moorhead qualify for these zero-down-payment options.
Why Choose a Mortgage Lender in Moorhead?
Local Market Knowledge
Lenders who understand Moorhead'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 Moorhead and get competitive rates on your home loan.