Mortgages

Minnesota Housing is a trusted state agency that works with Border Bank to provide an array of loan products to buy a new home, or improve your current home. For most of the loans, borrowers must meet certain eligibility requirements, income limits, minimum credit score and owner-occupancy requirements. Contact your Real Estate Lender at your local Border Bank branch to learn more.

Affordable Homebuyer Loan Programs: Minnesota Housing offers the Start Up Loan Program, which are loans for first-time homebuyers; and offers the Step Up Loan Program for purchase or refinance loans for existing homeowners and repeat homebuyers.

Minnesota Fix Up Program: The Fix Up program offers flexible financing options, with loan amounts ranging from $2,00 to $75,000. Borrowers must meet certain eligibility requirements, income limits, minimum credit score and owner-occupancy requirement. 

Secured and unsecured loans are available with no income limits for select energy efficiency projects. 

Rehabilitation Loan Program | Emergency & Accessibility Loan Program: This program helps low-income homeowners finance important home repair project that directly affect the safety, habitability, energy efficiency or accessibility of their homes, and also provides financing towards the replacement of manufactured homes.
for a Fix Up Loan.

You may be able to save thousands of dollars and lower your monthly payments by refinancing your home. Several factors determine when it makes sense to refinance. Lower rates, unexpected expenses, debt consolidation and tax consequences can all pay a part in the decision. Contact a Border Bank Residential Lending Officer to help you determine when the right time is for you.

If building a new home is in your future, look to the mortgage experts at Border Bank to provide the construction financing you need. Border offers a convenient construction to permanent financing option that will save you time and money. So go ahead and build the dream home you've always wanted and we'll be there to back you up!

Unlock the equity in your home to fund home improvements, college tuition, travel, or debt consolidation. As you borrow against your Home Equity Credit Line, and then repay it, the funds become immediately available for you to use again. Best of all, the interest may be tax deductible. Consult your tax advisor and talk with your Border Bank Lending Officer to see if a HELOC is right for you.

Programs that are available for qualified individuals that are living in qualified geographic locations (normally rural communities). These types of loans require little out of pocket money and zero down payment for those that qualify.

Government back program that requires minimal down payment (as low as 3.5%) and allows for customers with less than perfect credit.

This program is for qualified active/retired veterans or their spouses and requires zero down payment with the additional benefit of no Monthly Mortgage Insurance.