Home Mortgage Loans in North Dakota and Minnesota! Purchasing and refinancing. We offer FHA, Conventional, VA, USDA, NDHFA First Time Home Buyer, and 203K.
[05/07/20] If we can be of any help to you regarding mortgage loans, either for a home purchase or a refinance of your current mortgage loan, please call us at (701) 234-9000. You can also check out our website at www.fmmortgagecorp.com to fill out a loan application. Your dream home could still be a reality!
From all of us at F-M Mortgage Corporation
[12/20/19] Our mortgage loan professionals are here to answer any questions you may have regarding mortgage loans. Whether you are looking to buy a home or refinance your existing loan for either a lower interest rate or to get cash back to pay off any debts, we are here to help you. Call us at (701) 234-9000. Your dream home could still be a reality!
[12/19/19] How is my mortgage payment determined? Depending on your situation, there are typically four parts of your mortgage payment. 1) Principal: Repayment of your outstanding balance. 2) Interest: Payment of the interest charged on the outstanding balance. 3) Taxes: One-twelfth of your expected annual property taxes will be included in your mortgage payment, and deposited into your escrow account. 4) Insurance: This includes homeowner's insurance, as well as any other hazard insurances you're required to have, such as flood insurance. You also may need mortgage insurance, depending on the type of your mortgage loan. If you’d like more information, call us today at (701) 234-9000. Your dream home could still be a reality!
[12/18/19] Your credit and credit score will impact your down payment, interest rate, monthly mortgage payment and other items related to your mortgage loan. If you are considering a home purchase or refinance of your current mortgage loan, call us at (701) 234-9000. We are here to help make your dream home a reality!
[12/17/19] When applying for a mortgage loan, you might have to answer tough, personal and seemingly trivial financial questions. The best thing you can do is to be prepared. You should be ready to explain any discrepancies in your credit history such as late bill payments, being turned over to a collection agency, or a bankruptcy. Anticipate backing up every claim you make on your mortgage application with documentation. Please call us at (701) 234-9000 if we can help you apply for a mortgage loan.
[12/16/19] When trying to decide which mortgage term would be best for you, you might want to consider the following also. If you are getting closer to retirement, you may want to consider a 15 year mortgage term so that you can pay off your mortgage before you stop working. You may also have the option of paying off your 30 year mortgage sooner by paying extra each month and applying it to the principle balance. However, you can go back to paying the regular monthly payment any time if you need to. If you’d like further explanations on the mortgage term pros and cons, please call us at (701) 234-9000.
[12/13/19] Another mortgage loan term is the 30 year option. Since you are spreading the total amount of your loan over 30 years, you will have smaller payments than a 15 year term which could help you qualify for a higher priced home. After a few years of a 30 year term, you’ll have less equity built up than if you’d been making the higher payments of a 15 year loan and you’ll end up paying more interest over time. Call us at (701) 234-9000 if you have questions on a 30 year mortgage.
[12/12/19] There are pros and cons to each type of mortgage loan term. With a 15 year term, you will pay a lot less interest over the life of the loan, versus a 30 year term, since you will be borrowing for a shorter period of time and usually at a lower interest rate. The 15 year term will have a higher monthly payment than a 30 year for the same loan amount. If you can handle this monthly payment you are better off, but if it is too high for your budget, you may have to settle for less of a house with a smaller loan amount or consider a longer mortgage term. If you have any questions on a 15 year mortgage term, please call us at (701) 234-9000.
[12/11/19] Are you trying to decide if a 15 year or 30 year mortgage is best for you? There are pros and cons to both mortgage terms. During the next few days, these terms will be addressed to help you decide which term will be best for your specific financial situation. If you’d like your questions answered right away, please call us today at (701) 234-9000 as our knowledgeable loan officers are here to help you.
[12/10/19] When may be the right time to refinance your current mortgage loan? If interest rates are now lower than your current mortgage, looking into a refinance may be beneficial. If your current mortgage does not fit into your current budget due to unforeseen financial issues and you need to use some of the equity in your home to pay off debt, it may be a good time to look into a refinance. If you’ve had a job change or a family change such as a divorce and need to adjust your monthly payments, you may want to look into your options with a refinance to either reduce your payment amount or adjust your term length. Choosing the right time to refinance your home could end up saving you thousands of dollars. Talking to one of our experienced loan officers will help you decide if refinancing would be good for you. Call us at (701) 234-9000.
[12/09/19] Educating yourself on mortgage loans will be beneficial to you as you navigate through the mortgage loan process. There are many different loans available including different types of mortgages and different lengths of loan terms. These will impact your total costs over the life of your loan. There are also special programs for first time home buyers or programs offered by each state. If this seems like a lot for you to learn by yourself, we have professional mortgage loan officers who have used their expertise to help people like you secure home mortgage loans and make dreams a reality! Call us today at (701) 234-9000 as we would be happy to provide information to you so that you can make these big decisions on what is best for you.
Honoring all the heroes who lost their lives that fateful day in our history.
[12/05/19] Knowing what your mortgage loan expenses and closing costs will be before you pursue purchasing a home and securing a mortgage loan is always helpful so you can save for these amounts or make sure you have the required cash on hand. Costs can include credit report fees, appraisal fee, flood cert fee, pre-paid interest, homeowners insurance, real estate taxes, closing fees, etc. Depending upon the type of loan you qualify for will dictate what fees need to be paid up front and if any of these fees can be included in your mortgage. Call us at (701) 234-9000 if you’d like us to explain these fees and help make your dream home a reality!
[12/04/19] Making sure your financial situation is in the best shape it can be prior to applying for a mortgage loan will benefit you in the long run. Take a look at what you owe on credit cards, installment loans and other obligations and pay off what you can prior to applying for a mortgage loan. This will result in a better debt to income ratio and help you qualify for the best mortgage loan possible. Having a good credit score will also be beneficial to you and result in a better interest rate on your mortgage loan. If you would like to discuss with a loan officer what you should do to improve your financial situation prior to applying for a mortgage loan, please call us at (701) 234-9000.
[12/03/19] If you are interested in pursuing a mortgage loan, it is important to gather documentation prior to meeting with a loan officer. Some of the documents to gather are W-2’s and income tax returns from the past 2-3 years, copies of your recent pay stubs, bank statements for all checking and saving accounts for the last two months, statements for retirement accounts and any documentation for child support or alimony payments. Your lender may require other documentation during the loan process and things will go much smoother if you are able to provide these documents as soon as requested. We are here to guide you through the entire loan process and help make your dream home a reality! Call us today at (701) 234-9000.
[12/02/19] It’s normal to want the best home you can afford, but be certain that it is comfortably affordable. Your lender will advise you of the ratio of your total mortgage payment to your total income along with your debt to income ratios. These are basic guidelines to qualify for a home mortgage loan but more importantly you will want to be comfortable paying those amounts during the length of your mortgage loan. We can assess your financial situation and advise you of these ratios. Call us at (701) 234-9000 as we can help make your dream home a reality!
WE ARE GRATEFUL FOR OUR CLIENTS AND TRULY APPRECIATE WORKING WITH EACH ONE AS WE ATTEMPT TO FINANCE AND MAKE THEIR DREAM HOME A REALITY! MAY EACH ONE OF YOUR HEARTS AND HOMES BE FILLED WITH THANKSGIVING BLESSINGS!
F-M MORTGAGE WILL BE CLOSED ON THURSDAY, NOVEMBER 28TH AND FRIDAY, NOVEMBER 29TH. WE WILL RESUME NORMAL BUSINESS HOURS ON MONDAY, DECEMBER 2ND.
[11/26/19] Interest rates are still low and before winter descends on our area, this would be a good time to find your dream home and secure a mortgage loan. We have knowledgeable and experienced loan officers to answer your questions and guide you through the loan process. Our goal is to help you make a beneficial decision with your home mortgage and have your dream home become a reality! Call us today at (701) 234-9000.
[11/25/19] The Consumer Financial Protection Bureau is a government agency that makes sure banks, lenders, and other financial companies treat all borrowers fairly. This entity protects consumers from unfair, deceptive, or abusive practices and takes action against companies that break the law. It also provides consumers with the information, steps, and tools that they need to make smart financial decisions. If you’d like to find out more information from this agency, check out their website at: https://www.consumerfinance.gov/owning-a-home/loan-options. We welcome any phone calls with questions also at (701) 234-9000.
[11/22/19] Do you have questions about your escrow account with your home mortgage loan? An escrow account is used to hold funds paid by the mortgagor (borrower/homeowner) before they are due and paid out to the appropriate entity. The amounts paid into an escrow account with a mortgage loan can constitute real estate taxes, home owners insurance, flood insurance, mortgage insurance, etc. These amounts are part of your monthly payment and are held in your escrow account until each item becomes due and is then paid out by the lender who holds your mortgage loan. This escrow account may be adjusted up or down based on whether there was a shortage or surplus in the account for the current year's payment. Mortgage companies are obligated to send you an annual statement regarding the activity of your escrow account and notify you of the upcoming years updated payment amount. If we can answer any further questions, call us at (701) 234-9000.
[11/21/19] Closing costs are inevitable for a home mortgage loan, either for a home purchase or a mortgage refinanced loan. Buyers closing costs typically include fees for credit checks, appraisal fee, flood certification, origination fee, pre-paid interest, discount points, homeowners insurance and taxes, title and closing fees, etc. Depending upon the lender and type of mortgage, there may be options to help pay these fees. If we can answer any questions you may have about closing cost fees, please call us at (701) 234-9000.
[11/20/19] The second important, government mandated document during the mortgage loan process is the Closing Disclosure. This document is required to be provided three days prior to loan closing. It discloses the same information as the Loan Estimate previously given during loan processing, but it is the final disclosure with specific amounts you’ll need to pay at loan closing and gives you time to review for any possible changes before your mortgage loan closes. We can guide you through the entire mortgage loan process and provide you these two documents along with other disclosures so you fully understand the terms of your mortgage loan. Please call us at (701) 234-9000 and we can help make your dream home a reality!
[11/19/19] There are two very important, government mandated documents you will want to understand during the mortgage loan process. They are the Loan Estimate and the Closing Disclosure. Todays post will briefly explain the Loan Estimate. This document details the terms of your loan and must be given within 3 days of application date. This document discloses the estimate of your mortgage payment, closing costs, services you can and cannot shop for along with information on your escrow account. It will also disclose your annual percentage rate and total interest cost during your loan term. If you’d like to start the application process, please call us at (701) 234-9000.
[11/18/19] There are many laws and regulations in place to protect borrowers which mortgage companies need to follow. From Equal Opportunity and Privacy Requirements along with Fair Credit Reporting and Truth In Lending Disclosures these requirements can be many and sometimes hard for borrowers to entirely understand. We work with these regulations every day and can explain each of them to you so you fully understand what you are signing and how it will relate to your home mortgage. Call us at (701) 234-9000 if we can help in any way making your dream home a reality!
[11/15/19] Do you have equity built up in your home and have found yourself owing balances on high interest credit cards? If so, refinancing your current home mortgage with a cash-out refinance will give you the money to pay off those credit cards. Lenders will want to see that you’re making your payments on your credit cards on time and that you haven’t missed any mortgage payments in order to qualify for a mortgage refinance. Call us at (701) 234-9000 if you’d like to see if a cash-out refinance is a good option for you.
[11/14/19] Are you wondering how much you can afford to pay for a home? Lenders require you to inform them of your income and primarily focus on income through wages or salary, since those are the most consistent. If a lender verifies that you have reliable monthly income over the last few years, you are more likely to be approved for a loan since they would consider you at low risk of defaulting. Your annual income along with your debt-to-income ratio is used to evaluate how much you can afford to pay for your mortgage loan. We can discuss this further with you and help make your dream home a reality! Please call us at (701) 234-9000.
[11/13/19] In the months leading up to your home purchase, you don’t want to do anything that could hurt your credit score. Closing old credit card accounts, opening a new credit card, maxing out your credit cards or making a large purchase such as a new car may adversely affect your credit score. If you are thinking of buying a home, call us at (701) 234-9000 and we can assess your financial situation before making your dream home a reality.
[11/12/19] Are you considering a mortgage refinance? Refinancing may get you a lower interest rate with monthly payments that are lower over the life of the loan. You may also want to consider a 15 year refinance instead of a 30 year to lower the total amount of interest paid over the years. Refinancing your mortgage and using the equity in your home as cash out for paying off high interest credit cards or other loans is another consideration. If your goal is to lower your monthly expenses, a mortgage refinance may make perfect sense for you. Our mortgage loan officers are here to help you! Call us at (701) 234-9000.
Veterans Day is a national holiday in the United States observed annually on November 11, to honor all military veterans who have served in the United States Armed Forces.
These veterans have fought for the freedoms we have here in the US and deserve our thanks and appreciation on this day that honors them.
[11/07/19] Are you interested to know how to get a lower mortgage interest rate? One of the most important areas to consider is how can I improve my credit and credit score? Always paying on time and paying off any credit card balances or other loans will have the biggest impact on your credit score. Your debt to income ratios will be verified from your credit report which will determine if you qualify for the mortgage loan amount you are considering. Another option may be paying points up front on your loan to get a better interest rate. You can use a mortgage calculator to see if this option works best for you. If you have questions regarding mortgage interest rates, please call us at (701) 234-9000. Your dream home could still be a reality!
There are a few questions you should ask yourself before applying for a mortgage loan. What amount of money do I have available for a down payment? What is the price range of homes interested in buying? What monthly amount am I comfortable paying for my mortgage? Do I know what my credit situation is currently? After you have assessed your own financial condition, a lender can explain your options and guide you through the mortgage loan process. Your house may be the largest purchase in your life and you will want to understand all the financial aspects. We are here to help you each step of the way towards your dream home.
Call us at (701) 234-9000.
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Mortgage lending with personalized service. Buying a home can be stressful. Don't let the financing be! Contact Kayla for a no-cost pre-qualification!
Bell Bank is one of the nation's largest privately owned banks. Member FDIC. Equal Housing Lender. Equal Employment Opportunity Employer.
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Community bank with locations in North Dakota and South Dakota Member FDIC - Equal Housing Lender
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Loan company. All loans at 10 percent fixed rate. Our loan start from $50.00 to $500.00 for now. Message us if the number doesn't go threw.