The Best Mortgage Lenders in South Saint Paul, MN
Compare verified mortgage lenders serving South Saint Paul, Minnesota. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in South Saint Paul
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 area, including South Saint Paul. Founded in 2000, it has built a reputation for competitive rates, efficient online tools, and exceptional customer service. With over 24 years of experience, the company offers a wide range of loan products and is known for its fast closing times and transparent process. High customer ratings reflect its reliability and dedication to helping homebuyers and refinancers achieve their goals in the South Saint Paul market.
Loan Types:
Fairway Independent Mortgage
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage is a highly regarded lender with deep roots in the Minneapolis-Saint Paul region, serving South Saint Paul residents since 1996. It boasts a 4.8 rating due to its personalized service, extensive loan options, and commitment to community involvement. With 28 years of experience, the company is praised for its knowledgeable loan officers and streamlined application process, making it a trusted choice for first-time homebuyers and investors alike. Its local office in Saint Paul ensures accessible, responsive support for clients in the area.
Loan Types:
AnnieMac Home Mortgage
AnnieMac Home Mortgage
AnnieMac Home Mortgage is a well-established lender founded in 2001, offering reliable mortgage services across the Twin Cities metro, including South Saint Paul. With a 4.6 rating, it is recognized for its competitive rates, flexible loan programs, and strong customer satisfaction. Over 23 years, the company has developed a reputation for thorough guidance and support throughout the home buying process, backed by a team of experienced professionals. Its Woodbury location provides convenient access for South Saint Paul residents seeking personalized mortgage solutions.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in South Saint Paul, MN
What are the current mortgage rates like for homes in South Saint Paul, MN?
Mortgage rates in South Saint Paul are generally competitive with national averages, but can be influenced by local market conditions. As of late 2023, rates for 30-year fixed mortgages typically range from 6.5% to 7.5%, though this varies by lender and borrower qualifications. South Saint Paul's stable housing market often results in slightly better rates than more volatile metropolitan areas.
Are there any first-time homebuyer programs specific to South Saint Paul?
Yes, South Saint Paul homebuyers can access several Minnesota Housing programs, including the Start Up program with down payment assistance and competitive interest rates. Additionally, Dakota County offers the Community Development Agency (CDA) programs that provide down payment and closing cost assistance specifically for income-qualified buyers purchasing in South Saint Paul.
How does South Saint Paul's proximity to the Mississippi River affect mortgage lending requirements?
Properties located in flood-prone areas near the Mississippi River may require additional flood insurance, which lenders typically mandate for mortgage approval. Before approving a loan, lenders will verify if the property is in a FEMA-designated flood zone, which could affect both your insurance costs and the overall affordability calculation for your mortgage application.
What special considerations should I know about when getting a mortgage for South Saint Paul's older housing stock?
Many homes in South Saint Paul were built before 1978, so lenders may require additional lead-based paint disclosures and inspections. For homes needing significant repairs, you might consider an FHA 203(k) renovation loan, which allows you to finance both the purchase price and renovation costs in a single mortgage—particularly useful for updating South Saint Paul's charming but older properties.
Are there property tax considerations in South Saint Paul that affect mortgage affordability?
South Saint Paul has property tax rates that are generally competitive within Dakota County, currently around 1.1% to 1.3% of assessed value. Lenders will factor these taxes into your debt-to-income ratio calculations. It's worth noting that South Saint Paul offers some property tax relief programs for seniors and disabled homeowners that could impact long-term affordability.
Nearby Cities
Explore mortgage lenders in cities near South Saint Paul, MN
Why Choose a Mortgage Lender in South Saint Paul?
Local Market Knowledge
Lenders who understand South Saint Paul'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 South Saint Paul and get competitive rates on your home loan.