Finding the right mortgage!

Figuring out the best type of mortgage can be hard! There are many types of mortgages and different programs that are available to you. At United Community Bank, our goal is t make the home buying process as simple and easy for you as possible! We have options that fit your budget, needs, and preference!

Loans Options

USDA rural development mortgage

One of the most common utilized mortgage program in northern and central MN They are a great first-time home buyer mortgage.

Key Factors

• • No down payment required
  • One-time guarantee fee paid at closing or can be rolled into the loan
  • Seller-paid closing costs are allowed
  • No reserve requirement
  • Primary homes only
  • Income restrictions apply

An FHA loan is a mortgage loan

This type of loan is insured by the Federal Housing Administration (FHA), allowing banks to offer a more favorable rate to consumers.

Key Factors

• • Low down payments
  • Low closing costs
  • Seller-paid closing costs allowed
  • Flexible credit standards
  • Available to all income levels
  • Manufactured homes eligible (certain restrictions apply)
  • Allows a co-applicant to help you qualify even if the person doesn’t live in the home
  • Requires upfront and monthly FHA mortgage insurance premiums

Conventional Mortgage Loan

We offer long-term options with fixed rates for the lowest monthly payments possible. Low down payment options available with certain income restrictions. Manufactured homes eligible (certain restrictions apply).

Whether its your first, second, third, or last home, UCB can help! Our lenders can help set up a budget and help you move this year. If interested in seeing what your options are for a mortgage, you can get preapproved here!

Lori Mattfeld is a Mortgage Lender at UCB with 16 years of experience. Contact her today for all your mortgage needs.