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January 23, 2022

Are you a first responder ready to purchase or refinance your home?

If you answered, Yes! You are eligible to take advantage of our Heroes Program.

Whether an active or retired firefighter, law enforcement officer or EMS worker, you are an asset to your community. For this reason, we want to give back to you and offer up to $1,000 OFF your origination loan fee for the purchase of a new home* or refinance.

It's important to have a strong team backing you up. As a more than 135-year-old company, at the Bank of Elk River you will have a team of dedicated business professionals that will be there for you now and in the future.


Next Steps

Step 1: Get Pre-Qualified - Determine the type and amount of loan for which you qualify.

What you'll need to start:

Every situation is unique, the required documentation may vary.

  • W-2's for the last two years
  • Current pay stubs covering one month
  • Last two months bank statements (all accounts: checking, savings, investment & retirement accounts)
  • Loans (including mortgages)
  • The name, addresses, and account number of the Lender
  • Charge Cards (Account numbers and minimum payment balances)
  • Landlord (Name, address and phone number for the last two years)
  • If commissioned or self-employed – Two years of personal and corporate tax returns, year-to-date profit and loss statement
  • Court Decrees (bankruptcy, divorce, and judgment satisfaction)
  • Construction Loans – sworn construction statement & blueprints

Once you've gathered the necessary information above, it's time to apply. You can do so in person by requesting an appointment or visiting your nearest location, over the phone by calling 763.441.1000, or online by filling out our mortgage loan application. When you apply, make sure to mention your eligibility for our Heroes Program.

Step 2: Start shopping for your dream home, or present a signed contract for the property you wish to purchase.

Step 3: Make an offer - work with your real estate agent to submit a reasonable offer.

Step 4: Lock in your interest rate - rates commonly fluctuate and can change between the time you apply and the day you close.

Step 5: Closing - During the closing, the lender transfers money to the borrower to purchase the house and the borrower signs the mortgage documents. The borrower also pays the lender any fees associated with borrowing the money. These fees are called closing costs which include origination fees, fees for credit reports, flood certifications, appraisal, recording, and title insurance. The closing costs are approximately 3% of the principal loan amount. As a member of our Heroes program, you will receive up to $1,000 off your origination fee.


Here to Help!

As a Bank of Elk River Loan Originator, my aim is to help you find the loan option that best aligns with your financial goals. Please call me today if you would like assistance in finding the right loan program.

Thank you for your service!

Bagne, Brady-01-sq.jpg

Brady Bagne

Mortgage Loan Originator NMLS #1704073

763.274.6857

Email: bbagne@thebankofelkriver.com

*Offer only valid on a primary residence.