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Mortgage Lender & Refinancer in Minnesota and South Dakota

Mortgage Loans

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Homeownership should be an option for everyone. The mortgage lenders at Sunrise Banks offer a variety of loan solutions to meet your specific needs that make buying a home possible. Our home lending options include lender credits to help with closing costs and down payment assistance. It’s our goal to make purchase and refinance mortgages accessible and affordable for Minnesota and South Dakota residents.1

Explore Low Mortgage Rates

Each homebuyer’s journey is different, but everyone strives to find the lowest mortgage rates when buying a new home. Our mortgage lenders near you work to understand your specific needs to find a loan option that best aligns with your path to homeownership.

The Sunrise Banks Pathway2Home® program is an ITIN loan program. Down payment assistance and grant programs can be used to help offset costs.

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Benefits Include:

  • Seller can pay your closing costs

  • Compatible with a gift from a family member

  • ITIN eligible

  • Lender credits1 may be available

Things to Consider:

  • 10% down payment is required

  • Homebuyer education is required for the Pathway2Home ITIN Mortgage Program

The Sunrise Banks Pathway2Home® 10/1 ARM is an ITIN product. With a 10/1 ARM, the homebuyer will have a fixed interest rate for the first ten years or 120 payments . On month 121, the rate will be adjusted and annually thereafter. Down payment and grant programs can be used to help offset costs.

To learn more about a 10/1 ARM, contact a Sunrise Banks Loan Officer for a consultation:

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Benefits Include:

  • Lower starting rate for qualifying

  • Seller can pay your closing costs

  • Compatible with a gift from a family member

  • ITIN eligible

  • Allowed to buy down rate by paying points

  • Lender credits1 may be available

Things to Consider:

  • 10% down payment is required

  • ITIN Mortgage loans in MN require homebuyer education

  • 10/1 ARM is annually adjusted after the first ten years of fixed

With the HomeReady™ option, you have a lower down payment requirement and can receive down payment assistance. Grant programs can also be used to help offset costs.

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Benefits Include:

  • 3% down payment

  • Seller can pay your closing costs

  • Compatible with a gift from a family member

  • Grants and lender credits1 may be available

Things to Consider:

  • Homebuyer education is required

With the fixed-rate mortgage option, your interest rates and monthly payments remain the same throughout the lifespan of your loan.

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Benefits Include:

  • Predictable monthly principal and interest payments

  • Protection from rising interest rates

Things to Consider:

  • Overall interest payments will be higher on longer-term loans than on shorter-term loans

  • Principal payments on shorter-term loans are usually higher than on longer-term loans

  • With fixed-rate Minnesota and South Dakota mortgage loans, your interest rates and monthly payments remain the same throughout the lifespan of your loan.

Minnesota Housing Finance Agency (MHFA) Mortgage loans offer low down payment options and down payment assistance opportunities. Contact us to learn how our Minnesota mortgage lenders can help you apply for an MHFA loan.

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Benefits:

  • 3% down payment

  • Sellers can pay a portion of closing costs (minimum $1,000 investment)

  • Compatible with a gift from a family member

  • MHFA down payment options are available

  • Lender credits1 may be available

Government-backed FHA Mortgage loan opportunities to help individuals with lower incomes and cash savings make homebuying a reality.

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Benefits Include:

  • As little as 3.5% down payment

  • Lower credit score qualification

  • FHA mortgage insurance is required

  • Grants and lender credits1 may be available

Things to Consider:

  • FHA mortgage insurance is required

With the Adjustable-Rate Mortgage (ARM) option, monthly payments are structured to remain the same for an initial, predetermined period of five or seven years. After this period, the rates adjust semiannually. These ARM loans include an interest rate cap.

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Benefits Include:

  • Typically have a lower initial interest rate than fixed mortgages

  • The interest rate cap limits the maximum amount your payments can increase during the lifespan of the loan

  • Provide flexibility for those expecting future income growth or borrowers who are likely to move or refinance within a few years of their purchase

  • Up to $1.2 million

Things to Consider:

  • Monthly payments can increase when the interest rate adjusts

  • Monthly payments can change every six months after the initial fixed payment period

The Sunrise Banks team is happy to help arrange government-backed VA Mortgage loan opportunities for veterans and service members. Thank you for serving our country. Sunrise Banks is honored to help you with your next steps.

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Benefits Include:

  • Up to 100% financing

  • No down payment options

  • Lower credit score qualifications

Things to Consider:

  • Homebuyer education is required

Get financing for an investment property with up to four units.

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Benefits Include:

  • Predictable monthly principal and interest payments

  • Protection from rising interest rates

  • Available for investment properties with up to four units

Things to Consider:

  • Lower loan-to-value than a traditional mortgage2 may be available

  • These Minnesota and South Dakota mortgage loans are designed for investment properties only and are not available for owner-occupied properties

Meet Sunrise Banks’ Mortgage Lenders

Chuck Meier

SVP, Director Mortgage Sales

Chuck Meier

Andrea Altamirano

VP - Mortgage Program Loan Manager

Andrea Altamirano

Rocio Gomez

Mortgage Loan Officer

Rocio Gomez Headshot

Jillian Rothenberger

Mortgage Lender

Headshot of Jill Rothenberger.

Rick Vazquez

Mortgage Loan Officer

A headshot of Rick Vazquez

Roland Henning

Mortgage Loan Officer

A headshot of Rollie

Resources

Are you looking for more information on our mortgages in Minnesota and South Dakota? Check out the resources to learn more about the homebuying process.

Down Payment Assistance

Looking for down payment assistance? Check out our blogs and videos to learn more about what goes into a down payment and how you can get help with down payments:

Not sure where to start?

Fill out the form below and we can help guide you through the mortgage process.

  1. Contact your mortgage loan officer for more information, restrictions apply.

  2. Maximum available loan-to-value (LTV) is based on number of units in the investment property. 1 unit properties have up to 80% LTV, 2-4 unit properties have up to 75% LTV. Qualifications apply, contact us for more information.

  3. $500 off Closing Costs offer is valid for applications submitted for Conventional first lien purchase money transactions. This offer excludes FHA and VA loans and Home Equity Lines of Credit transactions. The $500 off Closing Costs will be applied at the time of loan closing as a Lender Credit. Loan applications must be submitted by August 31, 2024. Loan must close within 120 days of application date. All loans and lines of credit are subject to credit approval and compliance with underwriting standards.