MN Mortgage Refinance in Minnesota
We make it easy to get the lowest mortgage refinance interest rate in MN.
Our loan specialists can customize a loan that is perfect for your needs. In no time at all, MN residents can be on the way to a lower interest rate, a lower monthly payment, or switching from an adjustable rate mortgage to a fixed rate mortgage.
When Should I Refinance?
The best time to refinance is when interest rates in Minnesota drop below the rate of your current mortgage. With a lower interest rate, you'll save money on your mortgage payment every month. Be sure to read our article titled Reasons to Refinance Now.
Turn Your Adjustable Rate into a Fixed Rate
With adjustable rates on the rise MN residents can benefit greatly from refinancing your home for a low fixed rate. These benefits include a lower monthly mortgage payment, and the security of knowing your mortgage payment won't increase.
Cash-Out Refinancing
Using the equity in your home, you can refinance your mortgage for a higher amount than your current principal balance and receive the extra funds as cash. You can use this money however you would like, including, remodeling your home, paying off high-interest rate credit cards, paying off student loans, or consolidating all your debt. How much cash out you can receive by refinancing depends largely upon the principal balance remaining on your mortgage and the amount of equity in your home.
Eliminate PMI
Private Mortgage Insurance is usually required if your downpayment on your home was less than 20 percent. If your home equity has increased since your purchase, you may have enough equity to elimate that PMI payment by refinancing your mortgage.
Save Thousands in Interest
When you refinance your home you can decide to switch your mortgage to a shorter term, such as 10, 15, or 20 years. Depending on how much lower the refinance rate is, you will likely pay more per month for this shorter term home loan. However, in the long-term you are saving thousands in interest. And because more of your monthly mortgage payment goes towards the principal, your home equity will increase much quicker.
" Traditional banks make their customer fit the loan; at Somerset Mortgage Lenders we make our loan fit the customer. "
Return to our mortgage refinance page
| Minnesota News |
Minnesota asks for split-state TB status
The USDA officially downgraded Minnesota's Bovine TB status from Modified Accredited Advanced to Modified Accredited on Wednesday, April 9. Even as the announcement was made, Minnesota officials were working ...
|
Corn, soybean crop development still lags in Minnesota
A survey of business executives suggests economic activity in the Midwest and Plains is still reflecting national troubles, showing weak growth and job losses.
|
What does Palin have to do to get Minn. women's votes?
Alaska Gov. Sarah Palin certainly made the case that she is a 'hockey mom,' a term many Minnesotan's are familiar with.
|
Minnesota Gov. Tim Pawlenty, with wife Mary at his side, tells...
Minnesota Gov. Tim Pawlenty, with wife Mary at his side, tells Minnesota GOP convention delegates about the virtue of the McCain-Palin ticket.
|
Opinions vary at church that shuns politics
The message from the pulpit was "Wine, Water and Worship'' -- with no mention of the other "W,'' George W. Bush.
|
Minn. food bank kicks off initiative during RNC
Second Harvest Heartland, Minnesota's largest hunger relief organization, announced its participation in the inaugural nationwide Hunger Action Month.
|
Minn.-Crookston holds off Mayville St. 20-15
Tim Ennis scored what proved to be the winning touchdown on a 2-yard run with 13:35 left as Minnesota-Crookston beat Mayville State 20-15 on Saturday.
|
Gas Prices Slow MN Tourism, But Don't Stop It
Required fields are marked with an asterisk The information you provide will be used only to send the requested e-mail and will not be used to send any other e-mail communications.
|
Welcome delegates! Lutefisk and gizzards for you all
Minnesotans everywhere are making the thousands of visitors, in town for the Republican National Convention, feel welcome and at home.
|
The Fight For Minnesota
In the wake of Hurricane Gustav, the Republican National Convention will now resume in full force.
|
Despite Police Raids and Arrests, Minnesota Greens Join Antiwar, Antipoverty Protests at RNC
Paul. On Saturday police surrounded the home of Michael Whelan, a long-time Green Party supporter, whose Arise Bookstore at one time housed the party's office.
|
Republicans low-key first convention day
Republican National Convention delegates rallied Monday around presumptive vice presidential nominee Sarah Palin as they made the first day of their gathering a subdued show of sympathy for Hurricane Gustav's ...
|
True Grit, I hope
Like John and Paul, I was disappointed when I heard this morning that Senator McCain had called on Sarah Palin to be his running mate.
|
GOP cites Palin's skill, but how relevant is it?
Wait, now, say the Republicans. You think that Alaska Gov. Sarah Palin lacks experience? You think that at 44, with less than two years running the nation's northernmost state, she doesn't have what it takes ...
|
Health Tip: Adjusting to a Hearing Aid
Wearing a new hearing aid can be difficult, as your ears and brain get used to louder and sharper sounds.
|
The best person
John McCain's choice of Sarah Palin, governor of Alaska, as his running mate finally gave Republicans a reason to vote for him -- a reason, that is, other than B. Hussein Obama.
|
What's next for Tim Pawlenty?
Unlike Wednesday night, when the Xcel Energy Center was riding on every word from Sarah Palin, Minnesota Gov.
|
Ventura endorses 9-11 conspiracy theorist for Congress
Jesse Ventura has endorsed a Sept. 11 conspiracy theorist for a congressional seat.
|
A look at speakers for Thursday's GOP convention
Major speakers scheduled for Thursday's final session of the Republican National Convention.
|
Economy doesn't seem so gloomy in Minnesota's 100-acre Mall of America
For a break from the country's gloom-and-doom economic forecast, look no farther than this 100-acre shrine to American consumerism - where every man, woman and back-to-school teenager has an open wallet and ...
|
|
With Somerset's many FHA home loan programs, owning your dream home is more than just a dream.
| |
"...I was sure that Somerset was the right choice...they couldn't have been more compassionate or understanding...I just couldn't believe that this all happened within a week...Thanks to my loan officer and all the rest of those great people at Somerset, my family will be able to stay in the only home they have known for some time, without fear of being put out." - Tom N.
|
|