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
  • Other specialized loan programs

Prequalification

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.


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Current Rates:

Conventional/Fixed:
30 yr: 3.950%
15 yr: 3.250%

USDA – Rural Development
30 yr: 3.625%

MMCDC Home Improvement Loan
20 yr: 5.750%

MMCDC In-House:
502 Participation: 3.000%

DATE: November 13, 2017

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

Kathy Misson
Vice President, Mortgage Lending
218-844-7015
Karen Larson
Mortgage Underwriter
218-844-7013
Angie Schute
Mortgage Loan Processor
218-844-7023
Casey Sandberg
Mortgage Loan Processor
218-844-7024