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Frequently Asked Questions

  • How do I begin the mortgage loan process?

    If applying for your first mortgage loan, the initial step you should take is to make an appointment at your local Northwoods Bank branch to discuss your options with a loan officer.  You can also visit our Home Mortgage Loan Center to learn more information.

  • What are the current mortgage interest rates?
  • How much money will I have to come up with to buy a home?
  • Should I use a real estate broker? How do I find one?
  • How do I know if I can get a loan?
  • In addition to the mortgage payment, what other costs do I need to consider?
  • So what will my mortgage cover?
  • What documents do I need to refinance my mortgage?
  • What information do I need when applying for a home loan?
  • How much can I afford?
  • Should I refinance?
  • What is a credit score?
  • How can I obtain my annual credit report?
  • How do I protect myself from identity theft?

    Our website has a list of resources which can help prevent and deal with identity theft.

  • Are my deposit accounts covered by FDIC insurance?
  • Do you have overdraft protection and how do I qualify?
  • What type of security features do you provide?
  • How secure is Online Banking?
  • What kinds of business loans do you offer?

    We offer a variety of business loans including real estate loans, equipment loans, working capital loans, lines of credit and SBA loans.  Please visit our lending center for more information.

  • How do I apply for a business loan?
  • What are your loan terms?
  • How long does it take to get approved?
  • What information do you ask for?
  • Why do you need my personal tax returns?
  • What do you look for when analyzing a business loan?
  • Once I get approved, how long does it take to close the loan?
  • What are your interest rates?
  • Are there any additional fees for SBA loans?

Servicing Park Rapids, MN And The Surrounding Areas

Family owned and operated since 1919

Our team members greet you with a smile and the expertise you are looking for!

  • 218.732.7221
  • 1200 East First Street
    Park Rapids, MN 56470
    NMLS #416535

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