The Best Mortgage Lenders in Mound, MN
Compare verified mortgage lenders serving Mound, Minnesota. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Mound
Featured Mortgage Lenders
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage is a top-rated lender known for its exceptional customer service and competitive rates, with a strong local presence in the Twin Cities metro area serving Mound. Founded in 1996, it has built a reputation for reliability, offering a wide range of loan products and personalized guidance. Highly rated for its efficient processing and community involvement, it consistently receives praise for making the mortgage process smooth and transparent for homebuyers in Minnesota.
Loan Types:
Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a highly reputable national mortgage lender with a robust local office in Minneapolis, serving Mound and surrounding areas. Founded in 2000, it excels in providing competitive rates and a digital-friendly experience, backed by strong customer satisfaction ratings. Known for its innovation and swift closings, it offers a comprehensive suite of loan options and has a track record of integrity and professionalism in the Minnesota market.
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Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is a well-regarded lender with a strong regional presence in the Twin Cities, including service to Mound. Founded in 2008, it is praised for its fast and reliable loan processing, community focus, and excellent customer support. With a emphasis on simplifying the mortgage journey, it offers diverse loan products and has earned high marks for its responsive service and commitment to homebuyer education in Minnesota.
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Frequently Asked Questions
Common questions about mortgage lending in Mound, MN
What are the current mortgage rates like for homes in Mound, MN?
Mortgage rates in Mound typically align with national averages but can be influenced by local market conditions. Currently, rates for 30-year fixed mortgages in the Lake Minnetonka area range from 6.5% to 7.25%, depending on credit score and loan type. It's best to compare rates from multiple local lenders as waterfront properties may have different rate considerations.
Are there any special mortgage considerations for buying a waterfront property in Mound?
Yes, waterfront properties on Lake Minnetonka often require additional considerations. Lenders may require higher down payments (sometimes 20% or more) and additional inspections for docks, seawalls, and shoreline conditions. You should also factor in higher insurance costs and potential flood insurance requirements for properties close to the water.
What first-time homebuyer programs are available specifically for Mound residents?
Mound homebuyers can access Minnesota Housing's first-time homebuyer programs, which offer competitive interest rates and down payment assistance. Additionally, the City of Mound participates in Hennepin County's HOME Program, providing down payment assistance loans up to $10,000 for income-qualified buyers purchasing within the city limits.
How does Mound's seasonal housing market affect mortgage timing and approval?
Mound's housing market is highly seasonal, with peak activity from April through September. During these busy months, mortgage pre-approval becomes crucial to compete effectively. In winter months, you may find more negotiating power but fewer available properties. Local lenders familiar with this seasonal pattern can help time your application optimally.
Are there any local property tax considerations I should know about when getting a mortgage in Mound?
Mound property taxes are generally higher than surrounding areas due to premium lake community services and school district funding. When calculating your mortgage payment, expect property taxes to range from 1.1% to 1.4% of the home's value annually. Your lender should help you estimate these costs accurately during the pre-approval process.
Nearby Cities
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Why Choose a Mortgage Lender in Mound?
Local Market Knowledge
Lenders who understand Mound'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 Mound and get competitive rates on your home loan.