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COMPETITIVE RATES: Each individual mortgage loan is ran through our pricing engine to determine which bank or lender has the lowest refinance or purchase interest rate and lowest costs. If there is a lower priced lender out there, we will find it!

UNSURPASSED CUSTOMER SERVICE: Our entire staff is held to the highest possible standards ensuring each and every homeowner receives top-notch customer service. We only employ Licensed Loan Officers (not unlicensed loan application clerks like the banks). Our goal is to make the loan process fast, easy, and stress-free.

MORTGAGE LOAN PROGRAMS: Each and every homeowner has a unique situation. How long do you expect to stay in the home? Is your credit good or bad? Questions like these allow us to determine the right loan for you, and by having a large selection of available programs  we're sure to satisfy your needs, including conventional, Jumbo, FHA, VA, USDA Rural Development, and more.

PRIVACY AND SECURITY: We are committed to protecting your personal information and identity. All documentation are secured under lock and key in compliance with the all State and Federal Laws, all electronic transmittals are via secure encryption, and all papers requiring destruction are securely shredded in a timely manner.

5 YEAR REFINANCE: When you obtain your loan from The Joe Metzler Team at Mortgages Unlimited, if you should decide to refinance it, for whatever reason, over the next 5 years, we pledge to do so with absolutely NO COST on behalf of Mortgages Unlimited (3rd party fees and escrows may still apply). There's no fine print, other than you must hold the initial loan for at least 180 days. It's as simple as that, and only valid with The Joe Metzler Team only.

While we have a web site, we are NOT a true e-mortgage online type lender. You'll receive the personal attention of a dedicated, highly skilled, and experienced Senior Loan Officer who will serve you during the entire process and provide you with proactive automated loan status reports which are also easily accessible online 24/7.

We are a HUD Approved Lender. We are WI, SD, and MN FHA LOAN Experts

Upside Down on your home? We offer the HARP 2.0 REFINANCE Program
Underwater?  No problem

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Minneapolis / Saint Paul Business Journal has recognized Mortgages Unlimited as one of the top 25 locally owned mortgage lenders in Minnesota. Who are you thinking of doing business with? Top Mortgage Lenders in Minneapolis St Paul MN

Rates and Fees are Low & REAL NO Hidden Costs MN Based Direct lender

As a Lenders One partner, we are part of the 3rd Largest Retail Mortgage Originators in the country. We were recently rated the 8th largest lender in Minnesota.  Any use or duplication of any materials is strictly prohibited.

Mortgages Unlimited. Best Mortgage Companies in Minnesota
33 Wentworth Ave E #290,  St Paul, MN 55118

Phone: 651-552-3681

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About Loan Estimates (LE) formerly known as the Good Faith Estimates

Did you know a Loan Estimate is NOT a Guaranteed List of Closing Costs! But, it is supposed to be accurate!

Good lender = Good Loan Estimate. Bad lender = Bad Loan Estimate.

Unfortunately, many lenders - especially those you find on the Internet, PURPOSELY quote low interest rates or low closing costs to capture your attention - with no intention of ever actually honoring their mortgage quote. We will NEVER do that to you!

The rules state the Loan Estimate is supposed to be accurate, but yet there are many "legitimate" reasons your estimate can change. There is no reason an estimate should not be close unless the Loan Officer is stupid, or they are knowing lowballing the estimate to win your business (and surprise you later).

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FED RATE CUTS DO NOT EQUAL LOWER FIXED RATES 

The Federal Reserve does NOT control mortgage interest rates!

So the Federal Reserve has said they are keeping interest rates low. Many mortgage applicants will be calling their Loan Officer and expecting a lower interest rate, especially those currently in process with a loan. Others who have been waiting to refinance are puzzled as to why FIXED mortgage rates have not really moved lower. In fact, FIXED mortgage rates are now almost exactly where they were before the Fed began cutting rates. This is difficult to explain to many consumers who have watched a reduction by the Fed with no benefit in mortgage rates.

Is a Fed rate cut really good news for mortgage rates? The facts may be surprising. The Fed can only control the Discount Rate and the Fed Funds Rate. This is very different from mortgage rates. A mortgage rate can be in effect for 30-years, a rate that is set by the Fed can change from one day to another.

Another common mistake is in thinking that 30-year Treasury bonds or 10-year Treasury notes are directly pegged to mortgage rates.

Those are government securities that are backed by the full faith and credit of the U.S. government and have no direct effect on mortgage rates.

So what are mortgage rates based on? As it turns out the answer is mortgage-backed bonds known as Mortgage Backed Securities (MBS). Bonds issued by Fannie Mae and Freddie Mac (MBS) and the trading performance of those bonds will determine the direction of mortgage rates. Finding the catalyst that causes mortgage bonds to move will give you the keys to finding out what makes mortgage rates rise or fall.

We know that inflation will always be a negative for any long-term bond because it eats away at the future returns. Since the bond will pay a set amount over a long period of time, that amount will be less valuable if inflation is high. Over the past several years, one catalyst that seems to be working in the opposite direction of MBS prices is the Nasdaq and broader stock market.

As bond prices rise, interest rates fall. As bond prices fall, interest rates rise. The consistency of this behavior is astounding.

As the Nasdaq moves higher, bond prices move lower causing interest rates to rise. As the Nasdaq declines, mortgage bonds benefit, causing mortgage rates to fall. Additionally, and unlike common opinion, Fed rate cuts have had virtually no direct effect on mortgage rates. Moreover, it appears that since Fed rate cuts act to stimulate the Nasdaq, they have a negative effect on mortgage rates.

The bottom line is that it appears mortgage rates will get better if the Nasdaq sells off and will get worse if the Nasdaq rallies. So it is not necessarily what the Fed does that affects Minneapolis mortgage rates, it's how the Nasdaq and broader stock market interprets the Fed's action that will ultimately influence the direction of mortgage rates. This is because money managers and mutual fund companies typically keep funds in either stocks or bonds with very little in cash. If stocks are in favor, money is pulled from bonds, causing bond prices to drop and interest rates to rise. When stocks are being sold off, the money is then parked into bonds, which improves bond prices and causes interest rates to decline.

A closer look at the 3 rate cuts by the Fed  in 2007 shows that mortgage bond prices deteriorated after each Fed rate cut. This means that mortgage rates rose after the Fed had cut rates while many consumers were expecting their mortgage rates to decline. Worse yet are the consumers who missed the opportunity to obtain a lower rate because they mistakenly waited for the anticipated Fed action to cut short-term rates, thinking that longer-term mortgage rates would decline as a result.

Predicting the future is tough, so nothing is written in stone. Keep an eye on the Nasdaq, and keep in mind that the best rates may be behind us. But, mortgage rates are still low and could have some quick dips so make the most of them while they last.

The bottom line? Make sure you are working with an experienced, professional loan officer. The largest financial transaction of your life is far too important to place into the hands of someone who just quotes rates, but is not capable of advising you properly and troubleshooting the issues that may arise along the way. More than likely, this is one of the largest and most important financial transactions you will ever make. You might do this only four or five times in your entire life but we do this every single day. It's your home and your future. It's our profession and our passion. We're ready to work for your best interest. 

RATES ARE GREAT. Don't gamble on it moving any lower. Act Now! Contact your best Minnesota Mortgage Company choice today!

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