The Best Mortgage Lenders in Rice, MN
Compare verified mortgage lenders serving Rice, Minnesota. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Rice
Featured Mortgage Lenders
Jon B. Kalla
Bell Bank Mortgage
Bell Bank Mortgage is one of Minnesota's most trusted mortgage lenders with a strong presence in central Minnesota. They have exceptional customer satisfaction ratings and are known for their personalized service and competitive rates. As a community-focused bank with deep roots in Minnesota, they serve the Rice area extensively and are praised for their local underwriting expertise and streamlined mortgage process.
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Mike Murphy
Affinity Plus Federal Credit Union
Affinity Plus Federal Credit Union is a highly-rated Minnesota-based credit union that serves members throughout the state, including the Rice area. They are particularly praised for their competitive rates, low fees, and exceptional member service. Their mortgage team provides comprehensive guidance through the entire home buying process and offers special programs for first-time homebuyers.
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Ryan Klinkner
Sterling State Bank
Sterling State Bank is a well-established community bank serving central Minnesota, including the Rice area. They are known for their local decision-making, personalized service, and competitive mortgage products. The bank has built a strong reputation for making the mortgage process straightforward and stress-free, with experienced loan officers who understand the local real estate market.
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Frequently Asked Questions
Common questions about mortgage lending in Rice, MN
What are the current mortgage rates like for homes in Rice, MN?
Mortgage rates in Rice typically align with national averages but can be influenced by local market conditions. Currently, Rice homebuyers can expect competitive rates, with 30-year fixed mortgages often slightly below state averages due to the area's stable housing market. It's best to check with local lenders who understand Rice's specific economic factors.
Are there any first-time homebuyer programs specific to Rice, MN?
Yes, Rice homebuyers can access Minnesota Housing's first-time homebuyer programs, which offer competitive interest rates and down payment assistance. Additionally, some local lenders in the Rice area may offer special programs for first-time buyers purchasing in Stearns County. These programs can be particularly helpful given Rice's growing housing market.
How does Rice's rural location affect mortgage lending requirements?
Rice's rural character can work to your advantage for certain loan programs. USDA loans are particularly popular in Rice since the area qualifies for USDA rural development programs, offering 100% financing with no down payment required. However, some conventional lenders may have stricter appraisal requirements due to the mix of agricultural and residential properties.
What should I know about property taxes when getting a mortgage in Rice?
Rice property taxes are generally lower than in larger Minnesota cities, which can help with overall mortgage affordability. Stearns County property taxes typically range from 1.0% to 1.3% of home value. Your lender will factor these taxes into your debt-to-income ratio calculations, and many Rice homeowners choose to escrow these payments with their mortgage.
Are there any local considerations for jumbo loans in Rice's housing market?
While most Rice homes fall within conventional loan limits, some properties near the Mississippi River or with larger acreage may require jumbo loans. Local lenders familiar with Rice's market can help navigate these situations, as jumbo loans in rural-urban interface areas like Rice may have different underwriting requirements than in metropolitan areas.
Why Choose a Mortgage Lender in Rice?
Local Market Knowledge
Lenders who understand Rice'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 Rice and get competitive rates on your home loan.