Mortgage Bankers

You may have been in contact with a mortgage banker before you began your house hunting activity – in fact, this is the preferable sequence of events: mortgage pre-approval followed by home tours.  Instead of guessing at your price range and then asking for approval at that level, you may want to turn the approach around just a bit and ask the mortgage banker to approve you for the MAXIMUM MONTHLY PAYMENT for which you qualify, then determine, in the quietness of your own living room, the monthly payment level at which you are comfortable and go from there. By way of definition, monthly payment includes the mortgage principal and interest + 1/12 of your annual property tax assessment and homeowners insurance premium and mortgage insurance premium, if any.  The last item will not be applicable if you have at least 20% down payment.  By taking the mortgage application approach indicated above, you won’t have to submit your file for underwriting approval again if you end up paying a bit more per month than you originally intended.  Believe me, you’ll be glad you took this approach, then let us help you determine the correct price range of your next home from your comfortable payment level.

Here is a list of MORTGAGE BANKERS TO KNOW (Listed alphabetically by affiliation):

Alerus Mortgage

Ofc: 952 417 8474

Cell: 612 669 8727

Fax: 952 847 1332

peggy@rmgmn.com

Bell Mortgage

Special expertise: Bond money, Specialized mortgages

Ofc: 612 374 9911

Bell Mortgage

Ofc: 952 278 8705

Cell: 612 226 8761

Fax: 952 897 1892

US Bank

Cell: 612 978 9900

Wells Fargo Mortgage

NMLSR ID 400462

Cell: 612 316 2095

Work: 952 994 2856

Please note that we do not receive any referral fees if you decide to use the services of  any loan office whom we recommend. The above loan officers have outstanding experience, are people friendly, and very knowledgeable – you will enjoy dealing with them.