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Mortgage Loans

Let us welcome you home.

With personalized service, competitive rates and a variety of loan options you can feel confident about purchasing or refinancing a home loan with your HomeTown lender. 

Whether you’re a first time buyer, looking to buy your forever home, renovate your existing one, or build from scratch, our Mortgage Originators will take you through the financing process—every step of the way.

Our Home Loans include and have options for:

  • Competitive rates
  • Fast pre-approvals
  • Conventional, FHA, VA options
  • Rural development
  • New construction financing
  • Renovation financing
  • No or low closing cost options

Our Mortgage Originators

Bruce Moore
MLO# 400727
150 18th Street SW
Owatonna, MN 55060
(507) 455-6735

Meghan Malchow
MLO# 1089672
1205 Hwy 60 West
Faribault, MN 55021
(507) 332-1868

Mortgage Loans

Why keep renting when you can be building your own equity? At HomeTown, we know that buying a home is a big deal—and we’re here to help with competitive rates and trusted experience.

Options include:

  • Fixed rates for 10, 15, 20, and 30 years
  • Adjustable rates with initial fixed terms of 5 years

Payment Example: A 30-year, $200,000 Home Loan at 6.25% APR could cost you as low as $1,232 per month.*

Get Pre-Approved  

*Rates subject to change and are based on creditworthiness. A 6.25% APR is based on $200,000 loan amount and market conditions. Minimum term is 10 years, and maximum term is 30 years. There is no minimum loan amount, but the maximum loan amount is $548,250. There is an $895.00 underwriting fee and a 1% origination fee that may apply above and beyond the initial monthly loan cost. Contact the credit union for full details.

1st Time Homebuyer Mortgage Loans

Purchasing your first home should be an exciting time. It can also be pretty intimidating.

But, we have good news. When you’re a member of HomeTown Credit Union, you’ll have a partner to help you every step of the way of your home buying journey.

Types of 1st Time Homebuyer Loans We Offer:

Rural Development 1st Mortgage Loan Program

  • Financed through USDA
  • May include closing costs

In-House 1st Time Home Buyer

  • Finance up to 80% of the purchase price*
  • Finance the remaining 20% of the purchase price with the Purchase Money 2nd Mortgage

*Financed based on purchase price or appraised value — whichever is less. Standard closing costs will apply. Once approved of HomeTown's guidelines, you will have the option to be financed above 80% LTV. Options may include the purchase of mortgage insurance (PMI).

New Construction Loans

Build your dream home into reality with a New Construction Loan from HomeTown Credit Union. We offer fixed terms and interest-only payments to give you peace of mind while you build, so you can focus on your home’s finishes—not the financing.

  • Permanent financing available upon completion
  • Construction terms of 6 or 9 months
  • Interest-only payments while you build
  • Fixed interest rate for the term of the construction loan
  • Low loan fees with standard closing costs

Apply for a Loan  


Whether you are looking for a lower rate and payment, to change your loan term, or to take out extra cash for home improvements, HomeTown Credit Union offers refinancing options to help you get the most out of your home.

We offer:

  • Conventional, FHA, VA, USDA, and Streamline refinances

Contact Us 


Featured Rates