Search Contact Locate

Locations

Mortgage Loan Options

Bremer offers a variety of mortgage loan options to suit your needs, purpose and goals. We listen to your objectives, answer your questions and work closely with you to provide the right solution.

Your Bremer mortgage loan officer will work with you and help you understand what may be your best option.

Description: A fixed-rate, fixed-term loan option with predictable monthly payments.
Loan can be used for:

  • Buying your first home (first-time homebuyer)
  • Buying your next home (move-up or repeat homebuyer)
  • Second, investment or vacation home purchase
  • Refinance
  • Investment property

Pluses: Predictable monthly payments are friendly on the budget.
Minuses: In the early years of the loan, your payments largely go to interest.

Description: Generally offers lower monthly payments in the early years of the loan with rates adjusting in later years.
Loan can be used for:

  • Buying your first home 
  • Buying your next or last home (move-up or repeat homebuyer)
  • Second home or vacation home purchase
  • Refinance
  • Investment property

Pluses: You may have a lower interest rate or payment initially.
Minuses: The rate may re-set to a higher rate, resulting in higher payments after the initial period.

Description: Federal loan programs for veteran, military, low down payment and less-than-perfect credit customers.
Loan can be used for:

  • Buying your first home (first-time homebuyer)
  • Buying your next home (move-up or repeat homebuyer)
  • Refinance

Pluses: Usually offer lower down payments, reduced closing costs or other discounts.
Minuses: May require additional guidelines and documentation during the loan process.

Learn More

Loan amounts greater than $417,000 are considered Jumbo or Non-Conforming Loans. Depending on the size of the loan amount, additional pieces may factor into the process such as:

  • Need for multiple appraisals
  • Stricter underwriting
  • Larger down payments
  • Higher interest rates

Your mortgage loan officer can guide you through the Jumbo loan process and how to manage the loan to best suit your needs and financial goals.

States, counties, communities and nonprofit agencies have additional home buying programs that may be an option for you. A Bremer mortgage loan officer is well versed in the local market details and can discuss your options.

Learn More

© 2016 Bremer Financial Corporation. All rights reserved.

Deposit products offered by Bremer Bank. Member FDIC.

Equal Housing Lender