The Home Loan Division of MMCDC provides a variety of mortgage, refinance and first-time homebuyer options. We can help provide loans to people at various income levels for purchasing, repairing or refinancing a home.
MMCDC offers competitive rates and a variety of mortgage options, including:
- Fixed-rate loans for predictable payments
- USDA loans with low down-payment options
- Home improvement loans
- Down-payment assistance loans
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 three 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.
30 yr: 4.625%
15 yr: 4.125%
USDA – Rural Development
30 yr: 4.250%
MMCDC Home Improvement Loan
20 yr: 6.000%
502 Participation: 3.000%
DATE: July 16, 2018
Rates, points and programs are subject to change at any time and are not disclosed to extend as defined by Regulation Z.