Your Mortgage Partner Guiding You Home
The Mortgage Process
5. Get pre-approved Budgeting 1.
• Track past expenses
• Review credit card debt
• Create a budget
• Include regular savings
• Plan for future expenses
2. Meet with your Bell Bank Mortgage Loan Officer
Discuss your financing goals, such as a comfortable payment range, assets you have set aside for the purchase and the type of home you’re considering.
3. Double check your credit report
Report any errors to the credit reporting bureau and your lender.
4. Explore all down payment options
Bell partners with city, county and state programs to help new homebuyers increase buying power and buy in a shorter period of time.
Having an approved loan amount establishes how much house you can buy, and signals to sellers that you are a credit-worthy, serious homebuyer.
6. Hire a real estate agent
We can introduce you to local real estate professionals.
7. Remember, it’s not what you qualify for, it’s what you can afford
Monthly payments should not exceed 1/3 of your monthly gross income – but you may determine the amount you’re willing to commit to is less.
Mortgage Options
Affordable Products from Bell
Bell Moving Forward Advantage
Bell Moving Forward
Down Payment Assistance
BorrowWise
BorrowSmart (Freddie Mac)
Home Ready (Fannie Mae)
Conventional
Conventional 3-5%
Conventional 2nd Home
Conventional Investment
Government Products
Home Possible (Freddie Mac) FHA VA USDA
*Not all products are available in all states.
Homebuyer’s Q&A
Construction Products –Bell Bank Mortgage
One-Time Close
Two-Time Close
Rehab Program
Lot Loans
Bell Bank Portfolio Products
Jumbo
Doctor Loan Program
Let our experience help guide you through the process! Here are some common mortgage questions and answers for homebuyers.
What do I need for a down payment?
Typically, down payments can range from 3% to 5% of the sales price and if you qualify under specific programs you may be eligible for zero down.
Additionally, exclusive to Bell Bank is Bell’s Moving Forward program, offering terms including 1% down to qualified parties with a minimum credit score of 620.
Do I need private mortgage insurance (PMI)?
PMI may be required on conventional loans and may allow you to purchase a home for as little as 3% down. PMI is only required if your loanto-value is above 80 percent Our unique ability
to structure and explain the financial impacts of various solutions sets us apart.
Why should I get pre-approved?
Being pre-approved allows you to make an offer with confidence. Most sellers will not look at a purchase agreement unless it includes a preapproval letter from a reputable lender like Bell.
How does my credit score affect a mortgage?
There are minimum credit score standards for different mortgage programs, and pricing can be affected by your credit score.
How do you know which program is right for you? Call, text or email us!
We can go over your individual financing scenario and customize a plan for you.
Why Work With Us?
Why Work with Bell?
More than anything, we want you to have a positive experience when you finance your new home. We’ll work with you to find the best possible financing options that fit what you need.
We offer you service, not sales. We’ll listen to you, crunch the numbers and present strategic financing options for your situation. Communication is a constant throughout the process via text, email or phone.
We’re local.
Communication virtually is great for a lot of things, but not necessarily for your mortgage. We can meet with you face to face and guide you through your mortgage approval.
We’re experienced.
Our team has more than 80+ years of combined experience helping individuals and families achieve homeownership. Competitive pricing and programs with a mortgage banker.
Contact Us
We’re known for on-time closings with no surprises. Call or text me to review your financial situation and discuss your mortgage options. I can meet with you at the Bell Bank Mortgage office most convenient to you!
About Bell Bank Mortgage
Our roots are deep. In 1880, Bell Bank Mortgage was founded as Bell Mortgage in Minneapolis, Minnesota, by early city leader David C. Bell. Today, while we continue expanding our services in several other states and regions, our company remains the oldest and a trusted mortgage provider in Minnesota.
In 2011, Bell Mortgage became a part of what was then State Bank & Trust, the largest independent bank in the Midwest. One year later, the entire company rebranded as Bell, taking on a more unique name as a known and respected regional brand. One of the country’s largest privately owned banks, Bell embraces a simple yet powerful commitment to employees and customers. Our core values of family, unequaled service and giving back are at the heart of what we do.
An Award-Winning Company
Great Places to Work designation – Fortune magazine
Best-in-State Banks, Minnesota & North Dakota – Forbes magazine
Best Bank to Work For – American Banker magazine
Top 3 in Minnesota Residential Mortgage Lending Companies – Finance & Commerce
Community Impact Awards – Minnesota Business magazine
Integrity Award Finalist – Better Business Bureau of Minnesota & North Dakota
100 Best Companies to Work For – Minnesota Business magazine
Top 150 Workplaces – Minneapolis StarTribune
Giving Back To Our Community
• With each mortgage closed, we give to Spare Key, a non-profit organization that helps families with critically ill or seriously injured children. www.sparekey.org
• Bell Bank’s employees have given more than $22 million for 14 years to those in need through our unique Pay It Forward program. See some of our favorite stories at: www.bell.bank/payitforward
• Chris is a proud sponsor of the Prior Lake boy’s hockey, basketball, fishing & trap shooting teams
