Important: Listings are compiled from publicly available sources and have not been independently verified by BeforeMortgageUSA.com. We do not endorse any broker or guarantee outcomes. Verify licensing and disciplinary status with the Minnesota before hiring.
Showing 2 mortgage lenders in Owatonna, MN
Listings are displayed in no particular order and are not ranked by BeforeMortgageUSA. Order does not constitute a recommendation or endorsement of any broker.
Brenda Bednar at CrossCountry Mortgage
214 S Oak Ave, Owatonna, MN 55060
5074551858
Cambria Mortgage
319 N Cedar Ave Suite B, Owatonna, MN 55060
5073631307
What Does a Mortgage Lender in Owatonna Cost?
Typical costs for a mortgage lender in Minnesota include an origination fee of 0.5 to 1 percent of the loan amount, appraisal fees of $400 to $700, and title insurance costs of $1,000 to $2,500. Closing costs in Minnesota generally range from 2 to 5 percent of the purchase price. These are general estimates and actual costs vary by lender, loan type, and property. This information is for general purposes and is not mortgage or financial advice.
* Cost estimates are general ranges based on publicly available data and compiled using automated research tools. Actual fees vary by agent and case complexity. This is not mortgage or financial advice — consult directly with an agent for fee specifics.
Frequently Asked Questions
What documents do I need to apply for a mortgage in Owatonna?
You typically need recent pay stubs, tax returns, bank statements, and government issued identification. Minnesota lenders also require proof of homeowners insurance before closing.
How long does the mortgage process take in Minnesota?
The average mortgage process in Minnesota takes 30 to 45 days from application to closing. Minnesota law requires a three business day waiting period after you receive your Closing Disclosure before you can sign final documents.
What is the minimum down payment for a mortgage in Owatonna?
Down payment requirements vary by loan type. FHA loans allow as little as 3.5 percent down, while conventional loans may require 3 to 5 percent. Minnesota Housing offers down payment assistance programs for eligible buyers.