The Best Mortgage Lenders in Tyler, MN
Compare verified mortgage lenders serving Tyler, Minnesota. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Tyler
Featured Mortgage Lenders
Movement Mortgage
Movement Mortgage, LLC
Movement Mortgage is highly rated for its exceptional customer service, competitive rates, and efficient loan processing. With a strong local presence in Minnesota, they specialize in a wide range of loan products and are known for their personalized approach, making them a top choice for homebuyers in Tyler and surrounding areas. Their digital tools and dedicated support team ensure a smooth mortgage experience.
Loan Types:
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is renowned for its extensive loan options, competitive rates, and strong community focus in the Midwest. With decades of experience, they offer personalized service and have a reputation for high customer satisfaction, making them a reliable choice for Tyler residents. Their expertise in rural and suburban markets ensures tailored solutions for various home financing needs.
Loan Types:
Guaranteed Rate
Guaranteed Rate, Inc.
Guaranteed Rate is a top-rated lender known for its innovative digital platforms, competitive rates, and streamlined mortgage process. With a significant presence in Minnesota, they provide expert guidance and a wide array of loan products, earning high marks for reliability and customer service. Their commitment to transparency and efficiency makes them a preferred option for homebuyers in Tyler and the broader region.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Tyler, MN
What are the current average mortgage rates for homebuyers in Tyler, MN?
Mortgage rates in Tyler typically align with national averages but can vary based on local lenders and property types. As of recent data, Tyler homebuyers might see rates around 6.5-7% for 30-year fixed mortgages, though rural properties may have slightly different terms. It's best to check with local banks like First State Bank of Tyler or Minnwest Bank for the most current rates.
Are there any first-time homebuyer programs specifically available in Tyler, MN?
Yes, Tyler homebuyers can access Minnesota Housing's First-Time Homebuyer Program, which offers competitive interest rates and down payment assistance. Additionally, local lenders may offer special programs for Tyler residents, particularly given the city's rural designation. These programs can be particularly helpful given Tyler's median home prices around $150,000-$200,000.
How does Tyler's rural location affect mortgage lending options?
Tyler's rural designation opens up USDA loan opportunities, which offer 100% financing with no down payment required for eligible borrowers. Many properties in and around Tyler qualify for USDA rural housing loans, making homeownership more accessible. However, some conventional lenders might have stricter requirements for rural appraisals and property inspections.
What special considerations should I know about when getting a mortgage for an older home in Tyler?
Many Tyler homes were built in the early to mid-20th century, so lenders may require additional inspections for structural integrity, electrical systems, and plumbing. You might need to budget for potential repairs that could affect loan approval. Local lenders familiar with Tyler's housing stock can better navigate these older property considerations.
Are there local property tax considerations that affect mortgage payments in Tyler?
Tyler has relatively low property tax rates compared to larger Minnesota cities, currently around 1.1-1.3% of assessed value. However, Lincoln County reassesses properties periodically, so your escrow payments might adjust. Your lender will calculate these taxes into your monthly payment, but it's wise to understand local assessment practices.
Why Choose a Mortgage Lender in Tyler?
Local Market Knowledge
Lenders who understand Tyler'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 Tyler and get competitive rates on your home loan.