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15 Year Fixed Interest Rate = 4.375%
15 Year Fixed APR* = 4.792%
30 Year Fixed Interest Rate = 4.750%
30 Year Fixed APR* = 4.979%

Last updated: June 11, 2018
*APR=Annual Percentage Rate on the loan. Rates are quoted "as low as" and are subject to an evaluation of your credit. Rates may vary from rates shown.

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At First Alliance Credit Union, we believe home ownership is the heart of a strong community.

Whether you’re ready to buy, build, refinance or borrow from your home's equity, we want you to feel confident about the process. That's why we offer a number of different mortgage options and terms, plus expert advice to connect you with the right mortgage for you, your budget, and your home ownership goals.

We offer a wide variety of mortgages including:

  • Conventional Fixed-Rate Loans
  • Bridge Loans
  • Purchase Money Seconds
  • Non-Conforming Loans
  • Lot Loans & Construction Loans
  • Manufactured Homes
  • Jumbo Loans
  • Balloon Mortgages
  • Home Equity Loans

Plus, ask us how to access these mortgage loan programs through our partners!

  • FHA Mortgage Loans
  • Veterans Affairs Mortgage Loans
  • USDA Rural Development Loans
  • 203K Renovation Loans
  • Adjustable Rate Mortgages (ARMs)
  • Doctor Program


It's easy to apply! Pick which option applies to you!

I Think I'm Ready To Buy A Home

 
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Get Pre-Qualified
 

I Know I'm Ready To Buy A Home

 
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 Submit An Application
Let's Talk

 

Already a Home Owner?

You can save money by refinancing with First Alliance! You can refinance your current mortgage loan at a different rate, a different term, or a combination of both.

  • Refinance to a lower term - save money by paying off your mortgage faster and paying less total interest
  • Refinance to a fixed rate - if you have a variable rate mortgage, now is the time to refinance and lock in at a historically low rate
  • Refinance to a lower rate - refinancing to the current low rates could lower your monthly payment and help you save for a rainy day or major purchase


If you would rather have help applying, well that’s as easy as setting up an appointment with us. We will take you through the entire process, and we promise to keep it as simple as we possibly can.

Contact Our Mortgage Team today at
507-288-0330 or
mortgage@firstalliancecu.com


Mortgage Application Process FAQs

Before you even start shopping for a home, you will need to get prequalified for the loan. Sellers will know you’re a serious buyer, and you will know that your financing is already lined up. Complete our Pre-Qualification Application online to get started!

If you plan to use gift funds (wedding presents, monetary gifts from your parents, etc.) there are often special rules that apply. When you talk with us, please let us know if you plan to us any gift money to buy your home.

PMI means Private Mortgage Insurance. Conventional mortgages generally require a 20% down payment. Typically, if you don’t put down at least 20% you will have to pay PMI, which can be up to several hundred dollars a month added to your mortgage payment. By utilizing a combination of the products offered here it is possible to avoid any Private Mortgage Insurance. Of course, we will help you determine your best options!

Download The Mortgage Appointment Checklist

To make your mortgage experience faster and easier, bring the applicable documents listed on this checklist with you when we meet.

We had a wonderful experience with First Alliance. They made the process of buying our home seamless and a good experience. Their patience and customer service are incredible. If we ever had to buy a home again, we would work with them and would recommend First Alliance to our family and friends.

Jason from Lanseboro, MN

Meet The Mortgage Team

Alan Holtan
aholtan@firstalliancecu.com
Jamie Turbenson
jturbenson@firstalliancecu.com

Are You Ready To Learn More About Your Mortgage Options?

Let's Talk