From paperwork to porch light-
Home Equity Line of Credit
Use the equity in your home as a loan.
A Home Equity Line of Credit (HELOC) is a revolving line of credit secured by your home, allowing you to borrow funds as needed for major expenses or to consolidate high-interest debt, like credit cards. You can access your variable-rate credit line whenever necessary during your draw period.
- Up to 90% loan to value (restrictions apply)
- 5 year draw followed by 10-year amortization
- No prepayment penalty fees
Common Uses of Equity Loans
Home Improvements and Repairs
Debt Consolidation
Large Purchases
Life Events
Mortgages
Purchase your dream home.
Whether you’re trying to figure out the homebuying process, searching for the right partner, or suddenly need a new lender, we’ve got your back. Our mortgage lending team is here to help you every step of the way.
How it Works
1
Prequalify Your Loan
You can apply to prequalify before you start browsing homes or after when you know what price range you’re looking for.
2
Shop for Your Dream Home
Find the dream home that fits your budget and continue on your home-buying journey.
3
Choose the Best Mortgage
Apply online, give us a call, or stop by a branch and we’ll work with you to choose the best loan option for you.
4
Close and Move In
Complete the home-buying journey with the best step of all – moving into your dream home!
Applying is Easy
Get Started
Apply online to start the approval process. A mortgage loan officer will reach out to complete the application process.
Returning Applicants
Return to an application you’ve already started, securely upload documents, and check the status of your application.
We're Here to Help
You can connect with a mortgage loan expert for questions you have about our home loans.
Connect with a Real Estate Professional
Whether you’re buying your first home, upsizing to accomodate a growing family or refinancing to save money, our Real Estate team is here to make the entire process fast, easy and affordable. Fill out our contact form by providing just a few details about what you’re looking for, and we’ll get in touch with you right away to discuss your options. There’s absolutely no obligation-just friendly, expert advice.
Prefer to talk with someone right now? Give us a call at 507-775-2802 and jumpstart your journey to homeownership.
Pre-approval: what you need to know
Pre-approval is an important first step in applying for a home loan. It gives you an idea of what you’re likely to qualify for. It helps you figure out how much home you can afford and how much you’ll be able to borrow.
Here’s what you’ll need to start the pre-approval process: (full PDF checklist)
Current address
Driver's license and Social Security number
Two months of bank statements
Employment history for the past two years
30 days of pay stubs and the last two years' tax returns
List of current debts
Apply, Ask Questions or Just Have a Cup of Coffee to Explore Options
No matter where you are in the buying process, it’s never too early to talk about financing. Get in touch with us to get started.
Online
It takes less than 10 minutes to apply online. Submit your application and we’ll follow up with you to discuss your situation.
Call
Ready to talk to someone right now? Our Home Loan Guides are ready to talk to you, too! Call 507-775-2802.
Frequently Asked Questions
How does my credit rating influence my home loan interest rate?
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C
Generally, the higher your credit score, the lower your interest rate. Lenders see higher scores as lower-risk, which means you’ll likely get better terms and save thousands over the life of your loan.
What are closing costs and how much should I expect?
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Closing costs are fees paid to complete the mortgage transaction (e.g., appraisal, title, underwriting). They typically range from 2%-5% of the home’s purchase price.
How long does it take to get a home loan?
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On average, 30 to 45 days, but this can vary depending on loan type, property, and how quickly you provide required documents.
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Loan rates and approval subject to credit score and analysis. See credit union for details. Loan rates subject to change without notice. Equal opportunity lender. This credit union is federally insured by the National Credit Union Administration.