The Home Loan Division of MMCDC provides a variety of mortgage, refinance and first-time homebuyer options to disadvantaged populations and underserved communities. We can help provide loans to people for purchasing, repairing or refinancing a home.

We have a special focus on households with incomes at or below the Federal Guidelines for Low-Income in Minnesota, by County or Metropolitan Statistical Area and Family Size.

We also serve Minnesota Investment Areas, as defined by the Community Development Financial Institutions Fund. Eligible areas can be found by mortgage lending staff. 

MMCDC offers competitive rates and a variety of mortgage options, including:


Prequalifying is the first step to homeownership! To make this process easier, it is a good idea to compile the following required financial information:

  • Monthly payments and monthly income
  • Most recent pay stubs covering the last 30 days
  • Complete tax returns for the past two years
  • Bank statements of all checking, savings and asset accounts from the last two months

A fee of $20 will also be required for the lender to access your credit report.

To obtain information on an existing loan from MMCDC, use the View Loan Balance tool at the bottom of this page. Information including a loan payoff amount also may be obtained by sending a request by email to Amber Langerud or Nicole Kirchner, or by mail to Mortgage Loan Servicer, MMCDC, 119 Graystone Plaza Suite 100, Detroit Lakes, MN 56501. This address also should be used for sending payments by mail.

Start preparing for homeownership with Framework, an online homebuyer education program. When you educate yourself for smart homeownership with Framework, you’ll navigate every step of the process with confidence. The Framework course is affordable too: just $75. Click here for a video preview.

Current Rates:

30 yr: 2.875%
15 yr: 2.500%

USDA – Rural Development
30 yr: 2.750%

MMCDC Home Improvement Loan
20 yr: 6.000%

MMCDC In-House:
502 Participation: 3.000%

DATE: July 19, 2021

Run the numbers with our loan calculator

Rates, points and programs are subject to change at any time and are not disclosed to extend as defined by Regulation Z.

The Experts

Karen Larson
Vice President, Mortgage Lending
Angie Schute
Mortgage Loan Processor
Casey Grossman
Mortgage Loan Processor