Expertise.com
2024

Last updated:

Best Mortgage Brokers in Bloomington

Our Recommended Top 11

We did the research for you!

  • Licensing
  • User Reviews
  • Mystery Shopping Calls

Our goal is to connect people with the best local professionals. We scored Bloomington Mortgage Brokers on more than 25 variables across five categories, and analyzed the results to give you a hand-picked list of the best.

31

Reviewed

23

Curated

11

Top Picks

Learn about our selection process.

Providers

featured provider = Featured Provider

Website
7655 Washington Ave S, Edina, MN 55439
  • Refinance

Why choose this provider?

Johannsen Group, a mortgage firm under My City Mortgage, serves clients in and around Bloomington. Its mortgage loan officer, Thomas Johannsen, spends time learning and understanding borrowers' requirements and homeownership goals. He works with clients who want to purchase new homes or investment properties and those who want to refinance an active loan. Among the mortgage products he offers are VA, USDA, FHA, and home equity line of credit loans. In addition, Johannsen performs mortgage and debt reviews and investment property analyses.

License Verified:

License: 2057640

Nationwide Multistate Licensing System and Registry

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Facebook
5.0 / 5 (14)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
3300 Edinborough Way Suite 550, Edina, MN 55435
  • Commercial Loans

Why choose this provider?

Rainbow Mortgage Inc. is a woman-owned company that has been serving the Bloomington area since 1999. It shops from various lenders to find mortgage options tailored to clients' specifications, such as specific government lending programs like FHA or VA loans or specialty loans for self-employed individuals. It also specializes in helping clients in challenging loan situations, particularly individuals going through a divorce. The company advises them on the processes involved in securing mortgage programs while working through a divorce and recommends favorable options according to their financial goals and circumstances.

License Verified:

License: 345827

Nationwide Multistate Licensing System and Registry

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Google
5.0 / 5 (166)
Facebook
4.6 / 5 (16)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
247 E Main St, Waterville, MN 56096
  • Refinance

Why choose this provider?

CG Home Loan Partners is a local mortgage agency that caters to individuals and families in Bloomington. It offers various mortgage loan options and its team aims to guide its clients throughout the loan process. Its programs include FHA, VA, USDA, and adjustable-rate and fixed-rate mortgages. Reverse mortgages, refinancing, and physician loans are available. It also provides construction and renovation financing. The agency is part of the Fairway Independent Mortgage Corporation, an employee-owned company that has been in the industry for over 25 years.

License Verified:

License: 209015

Nationwide Multistate Licensing System and Registry

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.8

Website
2626 E 82nd Street, Suite 260, Bloomington, MN 55425
  • Refinance
  • New Construction

Why choose this provider?

First Equity is a locally owned and operated mortgage company with locations in Bloomington and Roseville. It provides a variety of residential home loans, including FHA, VA, conventional, and USDA or Rural Development loans. It also offers refinancing and home renovation programs. Its team assists with every step of the loan process, from the pre-purchase home inspection to closing. First Equity has been in business for more than a decade. The company partners with myTalk 107.1 to support various community organizations.

License Verified:

License: 299829

Nationwide Multistate Licensing System and Registry

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0
Yelp
5.0 / 5 (1)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
7301 Ohms Lane, Suite 190, Edina, MN 55439
  • Refinance

Why choose this provider?

Dream Team is a mortgage brokerage that serves customers in Bloomington and nearby areas. It offers a variety of loan programs for purchases, refinances, renovations, and rehab for primary, secondary, and investment properties. It provides traditional loans, including conventional, jumbo, HomeReady, HomePossible, and Lock and Look, and government loans, such as FHA, VA, and USDA rural housing. Dream Team is affiliated with Supreme Lending, utilizing in-house processing and underwriting for on-time closings and real-time reporting.

License Verified:

License: 2034009

Nationwide Multistate Licensing System and Registry

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
5151 Industrial Blvd., Ste 500, Edina, MN 55439
  • New Construction
  • Refinance

Why choose this provider?

Dream Team of Supreme Lending serves locals in the Bloomington metro. It provides first-time homebuyers with conventional loans that are Fannie Mae- and Freddie Mac-guaranteed. Dedicated to helping its clients secure their property-financing needs, the full-service mortgage lender also offers construction and renovation loan options. Other services provided include FHA, VA, and USDA loans, as well as mortgage refinance for debt consolidation purposes. Dream Team's loan officer, Benson Ringle, holds a Bachelor’s degree in Finance.

License Verified:

License: 1516626

Nationwide Multistate Licensing System and Registry

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.3
Facebook
4.3 / 5 (8)

Website
6750 France Avenue South, Suite 126, Edina, MN 55435

Why choose this provider?

PRMG Edina serves clients throughout the Bloomington metro. The company discusses various mortgage options with aspiring homeowners, including programs guaranteed by the VA and the FHA. It has experience providing the FHA 203(b) program, a solution that aims to prevent borrowers from defaulting. It also sets up a reverse mortgage that helps existing homeowners convert a portion of their property's value into cash. The company has been operating in the sector for more than two decades.

License Verified:

License: 357297

Nationwide Multistate Licensing System and Registry

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.0
Google
4.0 / 5 (126)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
8201 Norman Center Drive, Ste. 450, Bloomington, MN 55437
  • Refinance
  • New Construction

Why choose this provider?

The Furlong Team of Mortgages Unlimited Inc. serves clients throughout Bloomington. The company educates aspiring homeowners on their multiple mortgage program options, including loans insured or guaranteed by the VA, FHA, and USDA. It also provides specialized financing solutions for clients looking to acquire investment properties. The company addresses other concerns related to the refinancing process and assembles the necessary paperwork. Steve Furlong, one of its mortgage specialists, is the recipient of the Loan Officer of the Year award in 2012 from the Minnesota Mortgage Association.

License Verified:

License: 275939

Nationwide Multistate Licensing System and Registry

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.8
Zillow
5.0 / 5 (107)
Google
4.6 / 5 (94)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
4530 W 77th St #365, Edina, MN 55435
  • Refinance

Why choose this provider?

Matthew S. Coutu is a mortgage broker for Edge Home Finance Corporation, serving the greater Bloomington area. He provides brokerage services aiming to help individuals find the mortgage program that suits their needs. Couto guides clients about the selection of products available to them, such as adjustable-rate, fixed-rate, hybrid ARMs, FHA, VA, and USDA loans. In addition, the program includes reverse, balloon, interest-only, and graduated payment mortgages. Matthew S. Coutu has been in the brokerage industry for over 20 years.

License Verified:

License: 279246

Nationwide Multistate Licensing System and Registry

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
5.0

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
3800 American Blvd West Suite 1250, Bloomington, MN 55431
  • Commercial Loans

Why choose this provider?

Mark Holland is a senior mortgage banker serving clients in the Bloomington area. The loan expert helps clients find home purchase programs or advise on a mortgage refinance. He guides individuals about the selection of mortgage options they can take advantage of, such as first-time homebuyer, new construction, rehab, VA, vacation home, and refinance programs. The lending professional also offers downsizing and move-up buyer options. Mark Holland has been with Bell Bank Mortgage for over 20 years.

License Verified:

License: 270355

Nationwide Multistate Licensing System and Registry

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.7
Google
4.7 / 5 (12)
Zillow
5.0 / 5 (1)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
5.0
Responsiveness
Friendliness
Helpfulness
Detail

Website
6800 France Ave S Ste 655, Edina, MN 55435
  • Refinance
  • New Construction

Why choose this provider?

Edina Realty Mortgage handles applications from potential homebuyers and refinancers from areas within Bloomington. Its staff uses its first-hand knowledge of lending processes and program details, which it draws from decades of collective experience, to guide applicants in securing their preferred plans and terms. It has both standard and government-issued options like FHA streamline loans and USDA mortgages, as well as choices for real estate investments. It adjusts its recommendations and financial counsel based on changing factors like local marketing trends and interest rates.

License Verified:

License: 490683

Nationwide Multistate Licensing System and Registry

Reputation:

We scour the internet for reviews from well-known resources. Each provider is evaluated based on the quality and quantity of their reviews, their presence on multiple review sites, and their average minimum rating.
4.9
Google
4.9 / 5 (36)
Facebook
5.0 / 5 (14)

Professionalism:

We hire mystery shoppers to call our providers anonymously and evaluate them. Providers who respond quickly, answer questions thoroughly, and communicate politely score higher.
3.8
Responsiveness
Friendliness
Helpfulness
Detail
––

Frequently Asked Questions

  • Introduction

    It’s the American dream to buy property, and almost everyone who purchases a home does so with the help of a mortgage broker. It can be intimidating when you don’t know where to begin, what information is necessary, and how to receive a loan. A mortgage broker acts as an intermediary between the applicant and the financial institution.


    The mortgage broker’s role includes comparing loan terms across lenders to find applicants the best options, collecting paperwork the financial institution needs to analyze the application, and guiding the buyer through the underwriting and closing processes. Mortgage brokers can significantly simplify the home buying process.

  • Can mortgage brokers work across state lines?

    Yes, mortgage brokers can work across state lines. However, each state has different licensing requirements for mortgage brokers. Customers should ensure their broker can legally work in another state before going across state lines. Lastly, don’t forget the mortgage process is often time-sensitive, so being in different time zones can be problematic.

  • How do mortgage brokers find lenders?

    Mortgage brokers work independently and act as a bridge between the client and the lender. They reach out to several lenders to form a network and build professional relationships with those they work with often. They use lenders who best meet a client's rates and terms, and some lenders only do business through mortgage brokers.  

  • What credit score do mortgage brokers use?

    There are two credit scoring models in the United States: FICO and VantageScore. Mortgage lenders typically prefer to use FICO. However, each credit bureau uses a different version of the FICO score:

    • Experian uses FICO Score 2
    • Equifax uses FICO Score 5
    • TransUnion uses FICO Score 4

  • Do mortgage brokers help with refinancing?

    Yes, mortgage brokers can help with refinancing. Individuals who have a solid credit score will typically go to their bank to refinance their mortgage. However, if you don't have excellent credit, a mortgage broker may be able to secure you a better interest rate than you could get on your own.

    You pay a fee to the mortgage broker, so you'll want to consider this fee versus your savings in your cost-benefit analysis.
  • Can you work with two mortgage brokers?

    You can definitely work with two mortgage brokers. The advantage of using multiple brokers is that you'll have two people reaching out to several lenders to secure the best rate possible. However, you must ensure you provide matching information to all your brokers. If two brokers provide mismatched information about your application to the same lender, it can send off red flags and delay your approval process.

  • Do mortgage brokers get better deals?

    Yes, a mortgage broker should be able to get you a better deal. Mortgage brokers go to several lenders on your behalf and find the one with the best terms and interest rates. However, note that some mortgage brokers have preferred lenders. A broker may bring you their preferred lender's offer, even if it's not the best one; however, this isn't a regular practice.