Whether you're buying an existing or building a new home, KleinBank has a wide range of mortgage financing options for you.

We can provide a no-obligation, no-cost consultation to help you determine the type of mortgage that is best for you. We'll pre-approve you for your loan so you can move quickly and with confidence when the perfect property becomes available.

KleinBank offers a variety of loan programs to meet your needs. We work with the leading lenders in the industry to provide:

Conventional Fixed-Rate and Adjustable-Rate Mortgages


With a fixed-rate mortgage, the interest rate stays the same during the life of the loan. With an adjustable-rate mortgage (ARM), the interest changes periodically, typically in relation to an index. While the monthly payments that you make with a fixed-rate mortgage are relatively stable, payments on an ARM loan will likely change. There are advantages and disadvantages to each type of mortgage, and the best way to select a loan product is by talking to us.

Conforming Conventional Fixed Rate
Term: 30 years
Maximum Amount: $417,000
Other amortization terms may be available.


First Time Homebuyer Program


Available through the Minnesota Housing Finance Agency (MHFA). Mortgage loans to purchase or refinance a home for qualified low- and moderate-income borrowers in Minnesota. 

  • 30-year loans with affordable, low, fixed interest rates for the life of the loan. 
  • Interest-free and low-interest loans to help with down payment and closing costs for eligible borrowers. 
Please visit for eligibility requirements. 

FHA Loans


As a FHA-approved lender, KleinBank offers Federal Housing Administration (FHA) mortgages. FHA mortgages are insured by the FHA and have historically allowed lower-income Americans to borrow money for the purchase of a home.

The U. S. Department of Housing and Urban Development website provides details about different homebuying programs including FHA loan programs and other special programs.

FHA Fixed-Rate Loan
Term: 30 years
Maximum Amount: $365,000
Maximum Loan Amount of $365,000 is for the 11-county Twin Cities metro area (one-unit properties). Other Minnesota counties will have a reduced Maximum Loan Amount.
Other amortization terms may be available.


VA Loans


KleinBank offers Veterans Affairs (VA)-guaranteed loans to eligible veterans and their spouses. If you are thinking of buying a home, the VA can guarantee up to $417,000 of the total.

Visit the Department of Veterans Affairs to find out if you are eligible for VA home loan benefits.

VA Fixed-Rate Loan
Term: 30 years
Maximum Amount: $417,000
Other amortization terms may be available.


Rural Housing Development


KleinBank partners with the USDA Rural Development Loan Program to extend 100% financing opportunities to eligible rural individuals and families for the purchase of homes.

In order to be eligible for many USDA loans, household income must meet certain guidelines. Also, the home to be purchased must be located in an eligible rural area as defined by USDA. Please visit the USDA website to determine eligibility.

Rural Housing Development Loan
Term: 30 years
Other amortization terms may be available.


Unless otherwise indicated, these APR calculations are based on the following: Conforming loans (whose maximum loan amount is below $417,000 for the contiguous states, District of Columbia and Puerto Rico or below $625,500 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $417,000 with closing costs of $12,510. Jumbo Loans (whose maximum loan amount exceed $417,000 for the contiguous states, District of Columbia and Puerto Rico or exceed $625,500 for Alaska, Guam, Hawaii and the Virgin Islands) are calculated based on a loan amount of $900,000 with closing costs of $27,000. Your actual APR may be different depending upon these factors.

Additional Homebuying Guidelines

Generally speaking, you can purchase a home with a value of two or three times your annual household income. However, the amount that you can borrow will also depend upon your employment history, credit history, current savings and debts, and the amount of down payment you are willing to make. You may also be able to take advantage of special loan programs for first time buyers to purchase a home with a higher value.

The amount of cash needed to purchase a home depends on a number of items. Most home purchasers will need to supply:

  • Earnest money: The deposit that is supplied when you make an offer on the house.
  • Down payment: A percentage of the cost of the home that is due at settlement.
  • Closing costs: Costs associated with processing paperwork to purchase or refinance a house.

For most homeowners, the monthly mortgage payments include three separate parts:

  • Principal: Repayment on the amount borrowed.
  • Interest: Payment to the lender for the amount borrowed.
  • Taxes and insurance: Monthly payments are normally made into a special escrow account for items like hazard insurance and property taxes. This feature is sometimes optional, in which case the fees will be paid by you directly to the County Tax Assessor and property insurance company.

Mortgage applications will now receive new disclosures. The new disclosures will make it easier to understand the terms and costs of consumer mortgage loan transactions. To learn about these new disclosures, and to review important information to consider before taking out a mortgage, view “Your Home Loan Toolkit” Click Here.

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