Eric Roering - Granite Mortgage
Stig Sandell and Brad Goulet - Bell Bank Home Team
With over 20 years of experience, we are excited to earn your business with excellent service and pricing. The Bell Bank Home Team in Stillwater has worked together for over 15 years, and we know how to make your mortgage experience easy.
We've built a business based on referrals and repeat clients, because we treat you how we would want to be treated. We're motivated to create the best customer experience possible. We enjoy helping you feel comfortable and confident in your home financing.
How I Work
I do my best to make sure you, my client, are fully aware of your most suitable options. I work to make sense of the process and make sure no questions go unanswered.
- Stig Sandell and Brad Goulet
NMLS #700167
Steve Brand - Valor Home Loans
A Father, Husband, Patriot and also a local “mortgage guy”. Growing up on a farm in rural MN I had a strict work ethic burned into my veins by my parents at a young age. The same values are part of how I raised my boys and how I throw myself into my job… helping you.
I have been helping home-buyers in the Twin Cities / Western WI area since 2001… and love what I do. Licensed in 50 states and lots of niche programs… my passion/mission is serving Veterans. I am proud to be honored as one of the top VA lenders in MN.
Just like every person is different, everyone may have different goals for your home purchase. My goal is to help guide you through the process as painlessly as possible. We can review the best program and scenario to help you not just own a home… but have the right mortgage based on your short and long term plans for “wealth creation” if desired.
Direct: 612-386-5306
Team: 651-661-6662
Steve@StevenBrandHomeLoans.com
NMLS: 261849
Kelly Kirk (Tanke) - Luminate Home Loans
Meet Kelly Tanke, a seasoned sales and marketing professional with over 7 years of experience in the industry. In 2017, Kelly made the transition into the mortgage industry and quickly established herself as a Mortgage Advocate. With a passion for education, networking, and connecting individuals, Kelly is an enthusiastic advocate of homeownership and wealth/equity building. As a licensed Loan Originator in three states, Minnesota, Wisconsin, and Florida, Kelly uses her extensive experience to help clients navigate the mortgage process and achieve their homeownership goals.
NMLS #1599804
Words to Know
Home Mortgage:
A loan offered by a bank, mortgage company or other financial institution for the purchase of a primary or investment residence. In a home mortgage, the owner of the property (the borrower) transfers the title to the lender on the condition that the title will be transferred back to the owner once the loan has been fully paid and all other terms of the mortgage have been met.
Borrower:
The person borrowing the mortgage money, who either has or is creating an ownership interest in the property.
Lender:
Any organization lending the mortgage money, but usually a bank or other financial institution (Lenders may also be investors who own an interest in the mortgage through a mortgage-backed security. In such a situation, the initial lender is known as the mortgage originator, which then packages and sells the loan to investors. The payments from the borrower are thereafter collected by a loan servicer.).
Principal:
The original dollar amount of the loan, which may or may not include certain other costs; as any principal is repaid, the principal amount will decrease.
Interest:
A financial charge for use of the lender's money.
Mortgage Loan Types
The two basic types of amortized loans are the fixed rate mortgage (FRM) and adjustable-rate mortgage (ARM) (also known as a floating rate or variable rate mortgage).
In a fixed rate mortgage, the interest rate, remains fixed for the life (or term) of the loan. In case of an annuity repayment scheme, the periodic payment remains the same amount throughout the loan. In case of linear payback, the periodic payment will gradually decrease.
In an adjustable rate mortgage, the interest rate is generally fixed for a period of time, after which it will periodically (for example, annually or monthly) adjust up or down in relation to a market index. Adjustable rates transfer part of the interest rate risk from the lender to the borrower, and thus are widely used where fixed rate funding is difficult to obtain or prohibitively expensive. Since the risk is transferred to the borrower, the initial interest rate may be, for example, 0.5% to 2% lower than the average 30-year fixed rate; the size of the price differential will be related to debt market conditions, including the yield curve.
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