Lori helping customer with a new mortgage at United Community Bank

Mortgage Loan Options

Online Logins

Whether you are looking to buy, build, fix-up, or refinance, we have a home loan program to fit your needs.


Mortgage Options

construction loans

Conventional Mortgage

We offer long-term options with fixed rates for the lowest monthly payments possible. Low down payment options available with certain income restrictions. Manufactured homes eligible (certain restrictions apply).

Rural Development Loan (USDA)

USDA rural development mortgages are the most common utilized mortgage program in northern and central MN They are a great first-time home buyer mortgage.

Key Factors

  • No down payment required
  • One-time guarantee fee paid at closing or can be rolled into the loan
  • Seller-paid closing costs are allowed
  • No reserve requirement
  • Primary homes only
  • Income restrictions apply

Ineligible Factors

  • Buildings designed or to be used as
  • income producing
  • Grain bins, silos, dairy/hog barns, farm service buildings
  • Commercial/industrial buildings,
  • duplexes, converted rentals

FHA Loan

An FHA loan is a mortgage loan insured by the Federal Housing Administration (FHA), allowing banks to offer a more favorable rate to consumers.

Key Factors

  • Low down payments
  • Low closing costs
  • Seller-paid closing costs allowed
  • Flexible credit standards
  • Available to all income levels
  • Manufactured homes eligible (certain restrictions apply)
  • Allows a co-applicant to help you qualify even if the person doesn’t live in the home
  • Requires upfront and monthly FHA mortgage insurance premiums

Residential Construction or Rehabilitation Loan

Loan to help with new construction or to purchase and improve property.

Key Factors

  • Up to 1-year line of credit with interest-only payments, paid monthly
  • Can include manufactured homes (certain restrictions apply)
  • Can include shed or other outbuilding
  • Have the option to DIY or hire a contractor
  • Refinancing available after one year or after completion of project


MN Housing Fix-Up Loan Program

Minnesota Housing is a trusted state agency that works with local lenders to provide affordable home improvement loans. Learn more or apply for a Fix-Up loan now

VA Loans

If you or your spouse is a veteran of the US military you may qualify for a VA Home Loan, offering more resources and favorable terms.

Other Loan Options

Land Loans

Looking to purchase hunting land, a family lake lot, or land for future building? Whatever your land needs are, we can help finance it.

Mortgage Refinancing

We offer numerous refinancing options. Whether you want to lower your current interest rate or use the equity in your home to consolidate debt, we have options. Please speak with a lender to see what options fit your needs.

Home Equity Line of Credit

Use your home’s equity to make updates to your house or buy a car, take a vacation, or consolidate bills. Fixed rates. A very popular credit line for established homeowners.

Do you own at least 25% of your home? You may qualify for a line of credit using your home’s equity (the amount you would reap if you sold your house today) as collateral.

A single loan application gives you a source of ongoing credit (terms of 36 or 60 months, that you may opt to renew) for things you need now.

You can use a HELOC for:

  • home improvements
  • bill consolidation
  • family vacation
  • or any personal expenses

Speak to a lender to discuss your situation and find a program that fits your needs.


How to Apply

Apply online on any device, visit one of our branch locations, or call us at 218-346-5700.


Information You May Be Asked to Provide

The following materials, if applicable, are typically required during the loan process.

  • 30 days of paystubs
  • 2 months of most recent bank statements
  • 2 years of personal tax filings and W2s
  • 2 years of business tax filings (25% or more) and K-1s
  • Other investment statements
  • Divorce decree, alimony, or child support order
  • VA certification of eligibility


Steps to Home Financing

Wondering what are the steps to getting a mortgage or home refinance loan? We’ve put together some handy roadmaps to show you an overview of the path ahead. And don’t worry–we’re here to guide you in this process to achieve your goal.

See Home Purchase Roadmap (PDF) >

See Home Refinancing Roadmap (PDF) >


See what sets us apart

Request appointment


Coffee with a Banker Video Series

Information accurate as of 3/16/19, and may be subject to change. All loans are subject to credit and underwriting approval. Other terms and conditions may apply.

United Community Bank NMLS 421829