The Rates Published on this page are applicable only to requests received from the site or by calling 763-972-4215. Mortgage rates publised on this page are the current rates for a single-family, primary residence to based on a 30 day lock Period and are subject to change without notice. In order to receive a guaranteed rate, you must have applied for an application through State Bank of Delano and received a verbal confirmation from a loan officer that your desired rate is locked. Your guaranteed mortgage rate will depend on factors such as current market conditions, loan product, occupancy, property type and your credit profile. Minnesota residents must receive a written confirmation as required by Minnesota Statute 47.206

Loan Product and APR Information

Conforming rates are for loan amounts not exceeding $417,000

The Annual Percentage Rate (APR) is the actual loan cost and is likely to be higher than the stated note or advertised rate. A yearly percentage rate that expresses the total finance charge on a loan over its entire term. The APR includes the interest rate, fees, points, and mortgage insurance, and is therefore a more complete measure of a loan's cost than the interest rate alone. The loan's interest rate, not its APR, is used to calculate the monthly principal and interest payment. Its disclosed as part of the Truth-In-Lending statement required by the Federal Truth-In-Lending Act. It allows home buyers to compare different types of mortgages based on the annual cost for each loan.

Conforming Fixed

APR calculation assumes a $150,000 loan amount with a 20% down payment, estimated borrower paid finance charges of .75% of the loan amount plus discount and origination if applicable. If the down payment is less than 20%, mortgage insurance may be needed on the loan. This could increase the monthly payment and the APR.