If you’re searching for homes for sale in Cloquet, MN, Floodwood, MN, or Moose Lake, MN, and beyond, Northwoods Credit Union is here to help you navigate the home-buying journey. Our experienced local mortgage team offers many types of loan options designed to make your dream of homeownership a reality. Whether you’re a first-time buyer or looking to upgrade, we’re your local mortgage lender near you.

Home Loan Options Designed for Your Needs*

At Northwoods Credit Union, we understand the unique housing market in Northern Minnesota. Our loan programs are tailored to meet a variety of financial situations:

• Conventional Loans: Fixed interest rates with terms and down payments as low as 5%. Perfect for stable, predictable payments.
• HomeReady Mortgage Loans: Ideal for those with limited down payments—start as low as 3%.
• FHA Loans: A great option for home buyers needing more flexible qualification guidelines, with down payments starting at 3.5%.
• VA Loans: For veterans, active military, and eligible surviving spouses, offering 0% down and no private mortgage insurance (PMI).
• USDA Rural Development Loans: Designed for rural buyers with 0% down payment options for homes in qualifying areas, including most of Carlton County.
• Bare Land/Recreational Land Loans: Finance the purchase of undeveloped land or recreational properties with a 10% minimum down payment.

Why Choose Northwoods Credit Union?

When buying a home in Northern Minnesota, working with a local mortgage lender near you ensures personalized service and community insights. Here’s what sets us apart:

• Local Expertise: Our mortgage team knows the Cloquet, Moose Lake, and Floodwood housing markets inside and out. We’re from the area!
• Personalized Guidance: We work with you to match the best loan product to your budget and goals.
• Community Commitment: As a credit union, we prioritize your financial well-being over profits.

FAQs About Mortgages in Northern Minnesota

• What are the benefits of working with a local mortgage lender?

  • Local lenders like us at Northwoods Credit Union offer personalized service, a better understanding of the regional market, and faster response times tailored to you. We understand that you are more than your credit score.

• How can I buy a home with a low down payment?

  • Programs like FHA (3.5%), HomeReady (3%), VA (0%), and USDA (0%) loans make homeownership accessible. Learn more about these programs now.

• What areas qualify for USDA Rural Development Loans?

  • Most homes in our area of Minnesota can qualify for this program. Cloquet, Moose Lake, and Floodwood, MN home owners fall into this category, as well as many others.

Start Your Home-Buying Journey Today

If you’re searching for homes for sale in Cloquet Moose Lake, or Flooodwood, Minnesota, let Northwoods Credit Union be your trusted partner. Our local mortgage team is dedicated to helping you find the best home loan options for your dream house or piece of land.

Visit our Home Loans page to learn more, or contact us to get started on your mortgage pre-approval. Let’s make your Northern Minnesota homeownership dreams come true!

 

 

*Not all applicants will qualify. Membership eligibility required. NCU is insured by NCUA. NCU is an Equal Housing Opportunity Lender.