The Best Mortgage Lenders in Savage, MN
Compare verified mortgage lenders serving Savage, Minnesota. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Savage
Featured Mortgage Lenders
Chris Kukowski
Bell Bank Mortgage
Bell Bank Mortgage is consistently ranked among Minnesota's top mortgage lenders with exceptional customer satisfaction ratings. As a locally-based financial institution with deep roots in the Twin Cities metro area, they offer personalized service and competitive rates. Their Savage-area office in nearby Burnsville provides convenient access for local homebuyers. Bell Bank is particularly praised for their responsive communication, smooth closing processes, and expertise with both conventional and government-backed loans. They have maintained an A+ BBB rating and are known for their "Pay It Forward" philosophy that extends to community involvement throughout the Savage and south metro region.
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Mike Ryden
Affinity Plus Federal Credit Union
Affinity Plus Federal Credit Union is one of Minnesota's most trusted mortgage lenders with a strong presence throughout the Twin Cities metro area, including Savage. As a member-owned cooperative, they consistently offer competitive rates and lower fees than many traditional banks. Their mortgage team receives outstanding reviews for their educational approach, helping members understand all options and making the home buying process transparent. They excel with first-time homebuyer programs and offer special discounts for members. With multiple branches throughout the region and robust digital services, they provide excellent accessibility for Savage residents seeking personalized mortgage solutions.
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John Stamos
CrossCountry Mortgage
CrossCountry Mortgage has established a strong reputation in the Savage and south metro area through their local Eden Prairie office. They are particularly noted for their extensive loan product portfolio and flexibility in working with diverse financial situations. The local team receives consistent praise for their attention to detail, proactive communication, and ability to handle complex mortgage scenarios. As a direct lender, they can offer competitive rates and faster processing times. Their expertise spans from first-time homebuyer programs to jumbo loans and investment properties, making them a versatile choice for Savage residents across different financial profiles and home buying needs.
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Frequently Asked Questions
Common questions about mortgage lending in Savage, MN
What are the current mortgage rates like for homebuyers in Savage, MN?
Mortgage rates in Savage are competitive with the broader Twin Cities metro area, typically ranging from the mid-6% to low-7% for 30-year fixed-rate loans as of late 2023. However, rates can vary based on your credit score, loan type, and specific lender. It's wise to compare offers from local credit unions, regional banks, and national lenders operating in Scott County to secure the best rate.
Are there any first-time homebuyer programs specifically available in Savage?
Yes, Savage homebuyers can access Minnesota Housing's first-time homebuyer programs, which offer competitive interest rates, down payment assistance, and closing cost help. Additionally, Scott County offers a Deferred Payment Loan program that can provide up to $10,000 in down payment assistance for eligible buyers purchasing in Savage, which can be particularly helpful given the city's growing home values.
How does Savage's location in the Twin Cities metro affect mortgage lending considerations?
Savage's prime location in the thriving Twin Cities metro means lenders are generally comfortable financing properties here due to strong property values and market stability. However, you'll want to consider flood insurance requirements if purchasing near the Minnesota River, as some areas of Savage are in flood zones, which can add to your monthly housing costs and affect loan eligibility.
What types of properties do lenders typically finance in Savage, and are there any special considerations?
Lenders in Savage commonly finance single-family homes, townhomes, and condos, with particular experience in the newer developments in the southern parts of the city. If you're considering an older property in established neighborhoods like McColl Pond or Savage Fen, pay attention to potential foundation issues or needed updates that might affect appraisal values and loan approval.
How competitive is the mortgage pre-approval process in Savage's housing market?
Given Savage's desirable schools and amenities, the housing market remains competitive, making a strong pre-approval essential. Local lenders familiar with Savage's market trends can provide pre-approval letters that carry more weight with sellers. Having your financial documentation ready and working with a lender who can offer quick underwriting turnaround can give you an edge in multiple-offer situations common in Savage.
Why Choose a Mortgage Lender in Savage?
Local Market Knowledge
Lenders who understand Savage'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 Savage and get competitive rates on your home loan.