Loan Programs

Loan Programs

If you know what to expect – and you have a trusted team of real estate and a mortgage lending
professional to guide you – finding and financing your first home can be an
exciting and rewarding experience.

Here’s what you need to know:

Obtain A Mortgage Preapproval Decision Before

  • You Begin House Hunting
  • Learn how much financing is available to you and what price you are comfortable with
  • Strengthen your bargaining position with sellers

Choose a Real Estate Agent

  • Select a reputable professional who knows the market and will listen to your needs
  • Ask a mortgage professional for a trusted referral

Find the Right Home

  • Determine the needs of you and your family
  • Create a wish list of desirable features
  • Take notes as you preview homes

Make an Offer

  • Your real estate agent presents your offer to the seller, who will accept, counter or reject it
  • When the price is settled, you and the seller signa Purchase Agreement, defining the terms of the sale

Have the Home Inspected
Hire a professional home inspector after the offer
has been accepted to provide an in-depth look at
the basic systems of the house, to reveal any
safety hazards and give you a chance to reconsider
the deal. Typically, a Realtor will have someone who can be trusted

The Home Will Be Appraised
An appraisal, required by your mortgage lender,
is a formal, written estimate of the home’s
current market value

Obtain Title Insurance (where applicable)

  • This guarantees that the property you are purchasing is free of liens or confusion in rights of ownership
  • The policy insures against any losses to the property that result from defects in the title or deed

Close on the Property

  • Ownership of the property is transferred. This is the easiest part of the process.
  • A closing agent coordinates and distributes all the paperwork and fund And you become the proud owner of your new home!
    Whatever your home financing needs, I’m ready to help with a broad range of programs and personalized service.

Follow North Star Mortgage LLC


North Star Mortgage LLC NMLS #379299
Erik Olson NMLS #379970

Equal Housing Lender

Contact Us

North Star Mortgage LLC
1720 Adams Street
Mankato, MN 56001

(507) 387-6789