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Mortgage Products
A Fixed Rate Mortgage is a loan that has an interest rate that does not change over the life of the loan. The fixed rate long-term mortgage appeals to borrowers who plan to remain in their homes for more than seven years and who wish to keep their monthly principal and interest payments stable. This type of mortgage is also well suited for borrowers who are adverse to interest rate risk.  
These mortgages are ideal for homebuyers who plan to sell or refinance their home within a short period of time. A balloon mortgage is a fixed rate mortgage with a short term in which the principal and interest payments are amortized over a longer period. The borrower must pay off the outstanding balance with a lump sum payment at the end of the mortgage term. Options may be available to reset the mortgage for an additional term, with a modification to the rate.  
If you are building, our One Step Construction Loan Program could be just what you're looking for. Bank of Zumbrota combines your construction loan and home loan into one... one application, one loan. It's a great way to avoid many of the fees and hassles associated with construction and home financing. 
Our One Step construction Loan Program has five easy steps: 
  • Application
  • Loan and processing approval
  • Construction loan closing
  • Construction loan phase
  • Permanent financing phase
    BUILDING LOTS:  Check Out for Lots for Sale! 
    Interested in buying a lot today but not ready to build on it? Not a problem.   
  • Down payment options
  • Flexible repayment terms
  • Very competitive rates
  • Low closing costs
    You may qualify for a Minnesota Housing Finance Loan available at Bank of Zumbrota.  The Fix-Up Fund allows you to do general improvements on your home such as new siding, room additions, septic system repairs, accessibility improvements, furnace or water heater replacement, insulation, weatherizing, replacement windows or other repairs and remodeling.  Guidelines will require a maximum household income of $93,100.00 and a maximum loan amount of $35,000.00, with a relatively low fixed annual rate.  Contact Us today to see if you qualify. 
    (The Secure and Fair Enforcement for Mortgage Licensing Act) 
                                   NMLS ID # 
    Bank of Zumbrota  638435 
    Darin Jensen          876441 
    Jennifer Bennett    640598 
    Dan Kingsley          640593 
    Kevin Scanlan        756164 
    Brian Haugen         640588 
    Mark King               640587 
    Sherry Goplen        640589 
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