Homebuyer Resource Center
Buying a home is no small decision, but we aim to make it as simple as possible for you. These resources from our homebuying experts will help you start to understand the process. When you're ready, we'll be here to guide you toward your next step.
Unraveling 5 Homebuying Myths
Buying a home can feel overwhelming. This guide breaks each phase of the process into manageable steps to help you find the perfect home — and mortgage — for your current and future goals.
House hunter’s checklist
Chances are, you'll consider a number of homes before finding the perfect one. Use this checklist to keep track of the properties you tour and weigh the pros and cons of each before putting in an offer.
5-Step Mortgage Process
While everyone's journey to homeownership is unique, securing a mortgage typically involves five key steps. Your Bremer Mortgage banker will guide you through each one, but the steps below are a great place to start understanding the process.
Pre-qualification can give you an edge when shopping for a home. Get the process started by gathering the documents outlined in our Mortgage Application Checklist. Once you have these, you can apply in person at your local Bremer branch or online.
Our loan processors will review and double-check your paperwork to ensure everything is accurate before we send it along to a loan underwriter. Your local mortgage banker will keep you informed about your loan's progress throughout this stage.
During this step, a local appraiser who understands your community and your new neighborhood will compare the property to similar homes in the area to ensure the purchase price matches your new home's actual value. We should note, the appraisal reflects the market value of the home—not the reconstruction or tax value. You'll receive a copy of the appraisal at closing.
We'll also obtain a title opinion at this time. This takes up to 30 days and gives us the legal details of the property to confirm current ownership rights. At closing, you'll be required to secure owners coverage for title insurance.
Lastly, you'll also need to obtain homeowner's insurance at this stage.
We're getting closer to closing. During final approval, an underwriter will review the paperwork and details of your loan to determine whether or not they will support the pre-qualified approval (from step one).
- The property: Does the appraisal report verify the value of your home?
- Total debt ratio: Do you have a healthy debt to income ratio?
- Cash reserves: After your loan costs are settled, how much money will you have left in the bank?
- Credit history: Do you have a responsible payment history? How likely are you to repay your loan?
- Employment history: How stable is your current income?
This is where we welcome you to your new home. You'll be signing a lot of documents today. But a closing agent will be there to explain everything. You can also arrange to have your Bremer Mortgage banker with you to answer questions. At this point, you'll take care of any closing costs and the balance of your down payment. Once complete, you'll officially own your new home.
Mortgage Application Checklist
Use this checklist to make sure you have everything you need to complete your mortgage application.
Framework® Online Homebuying Course
This course is designed to help you become a more confident homebuyer. Interactive and engaging, it will take you through steps to improving your credit, choosing a real estate agent, home inspection basics and more.
La Crosse, Wisconsin
Fargo, North Dakota
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801 Market Street
Perham, Minnesota 56573
208 East College Drive
Marshall, Minnesota 56258
424 5th Street Northeast
Devils Lake, North Dakota 58301
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2570 Midwest Drive
Onalaska, Wisconsin 54650
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