FDIC-Insured - Backed by the full faith and credit of the U.S. Government
First-time Homebuyer
Build Your Future
Every homeowner starts somewhere. With local expertise and personal guidance, we’ll help you take the first step toward building financial confidence, understanding your options, and turning your first home into the foundation of your future.
Traditional Mortgage
Discover competitive rates and personalized plans that fit your budget. Our experienced lenders will help you find the financing that best fits your needs.
A variety of terms available
Veterans Affairs and other government-backed financing
New construction
Financing available in Minnesota, Wisconsin, North Dakota, South Dakota, Iowa, Colorado, Arizona, California, & Florida.
The Local Advantage
Competitive Rates
Financing that fits your needs
Local Decision-Making
Faster answers, stronger relationships
In-House Underwriting
Simple, Easy, and Fast
Full Service
99 percent of loans stay with Frandsen
Pre-Application Checklist
Get Your Finances Ready; We Can Help
Before you apply, our loan officers can help you review the key financial indicators that influence your loan approval. Start with this easy checklist to make sure you’re prepared.
Frequently Asked Mortgage Questions
Buying a home is a big step, and it’s natural to have questions along the way. We’ve gathered some of the most common mortgage questions to help you feel confident and informed as you explore your options.
How much money do I need for a down payment?
Minimum down payments depend on the type of loan you choose. While it is recommended to have 20 percent of your total loan, many borrower programs allow for a down payment as low as 3 percent.
How do I know how much house I can afford?
A good rule of thumb is to keep your monthly housing costs at or below 30 percent of your gross monthly income. A mortgage pre-qualification with your local Frandsen Bank & Trust mortgage lender can help you determine your buying power.
Can I still buy a home if I have student loan debt?
Having student loans doesn’t automatically disqualify you. Lenders look at your overall debt -to-income ratio, credit history, and ability to repay. Many first-time buyers with student loans successfully qualify for a mortgage, with the right guidance and preparation.
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