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| Home > Personal > Mortgage > First Mortgage |
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Choose an expert to guide you through the mortgage process. Dave Madsen of Building Trades Mortgage, LLLP is a mortgage professional who can help get a mortgage that fits your budget. We specialize in first mortgages, refinancing, and new construction loans. Programs are also available for first time homebuyers. Contact Dave at 763-255-2612 or 763-255-2664 or by email with questions or to request a no-obligation rate quote.
Members who have never owned a home or haven’t owned a home in three or more years may be eligible for programs available through the Minnesota Housing Finance Agency and the Homeownership Assistance Fund offering:
First Mortgage
| Program |
Rate |
APR* |
Down Payment |
Loan Amount |
Monthly Payment |
| 30-Year Fixed |
5.875% |
6.115% |
5% |
$237,500 |
$1,405 |
| 30-Year Fixed - Interest Only |
6.125% |
6.365% |
5% |
$237,500 |
$1,212 |
| 15-Year Fixed |
5.125% |
5.365% |
5% |
$237,500 |
$1,894 |
| 40-Year Fixed |
6.500% |
6.740% |
5% |
$237,500 |
$1,391 |
| 5/1 ARM |
6.625% |
6.875% |
5% |
$237,500 |
$1,521 |
| 7/1 ARM |
6.875% |
7.110% |
5% |
$237,500 |
$1,560 |
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Loan Amount and Payments are based on a purchase price of $250,000.00. *APR is the Annual Percentage Rate,effective March 18, 2008. Rates are subject to change without notice. **Property must qualify. The rates published on this page are applicable only to requests received from this site or by calling 763-424-2566. In order to receive a guaranteed rate, you must have submitted an application and received a verbal confirmation from a mortgage consultant that your application has been received and your desired rate locked. Minnesota residents must receive a written confirmation as required by MN Statute 47.206. This statement of current loan terms and conditions is not an offer to enter into an interest rate or discount point agreement. Any such offer may be made only pursuant to subdivision 3 and 4 of Minnesota Statutes Section 47.206.
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