Home financing in Fillmore County.
County-by-county financing guides. No paperwork. No social. No ID.
No institution is based inside the Fillmore County line. We do not hide that — below are the doors that serve it from the rest of Minnesota.
Not this lane? Business FinancingPersonal Financing
No institution is headquartered inside the Fillmore County line.
That is not a gap in this page, and it is not unusual: 49 of Minnesota's 87 counties hold a door in this lane, and Fillmore County is not one of them. What does serve it is below, by name and by town.
The doors in Fillmore County.
The CDFIs, credit unions, and microlenders that actually say yes — county by county, in two languages. We are not a lender. Nobody paid to be listed. And where a county has no good doors, we say so.
- 11
- DOORS HERE
- 0
- BASED HERE
- 49
- MN COUNTIES WITH DOORS
- Lane
- Home Financing
- People
- 21Kresidents of Fillmore County
- Elsewhere in MN
- Ramsey County →22 doors — the biggest list of any other county in Minnesota
- Doors
- 11serving this county · none inside the line
- ITIN
- 3take an ITIN instead of a social security number
- State
- Minnesota →49 of 87 counties hold a door in this lane
Certified by the U.S. Treasury to lend where a bank will not. Nonprofit, patient, and used to a file that is not clean.
African Development Center · African Economic Development SolutionsThey will open an application with an ITIN instead of a social security number. No citizenship test at the door.
Mission Asset Fund · Accion Opportunity Fund- African Development CenterSBA microlenderCommunity lending · Business capital
- African Economic Development SolutionsSBA microlenderCommunity lending · Business capital
- First Children's FinanceSBA microlenderCommunity lending · Business capital
- Neighborhood Development CenterSBA microlenderCommunity lending · Business capital
- Northeast Entrepreneur Fund, Inc.SBA microlenderCommunity lending · Business capital
- IN THIS LIST
6 of the 11 doors that serve this county are CDFI-certified.
The U.S. Treasury certifies them to lend to the people banks pass over. It is a loan, not a favour.
- WomenventureSBA microlenderCommunity lending · Business capital
- Northwest Minnesota FoundationBusiness capital
- Southern Minnesota Initiative FoundationBusiness capital
- Mission Asset FundAccepts ITIN
Zero-interest lending circles and credit building. SSN or ITIN accepted. Works through nonprofit partners across the country.
Personal - Accion Opportunity FundAccepts ITIN
Nonprofit small-business lender. Accepts ITIN in place of SSN. Serves most states, in English and Spanish.
Business capital - Grameen AmericaAccepts ITIN
Microloans for women entrepreneurs. Requires photo ID and proof of address — no SSN requirement. Branches in major metro areas.
Business capital
3 of the 11 accept an ITIN.
They will open an application with an ITIN instead of a social security number. They are marked ACCEPTS ITIN below.
How to read this list.
We do not ask for your name, your email, or your number. Nothing on this page changes based on who you are.
A door is headquartered here when its head office sits inside the county line. The rest are based elsewhere and keep a branch you can walk into. We list both, and we label which is which.
Every institution on this page comes from public federal data — the CDFI Fund certified list (Aug 2026), NCUA credit union data (Jun 2026), and the SBA microloan intermediary list (Sep 2026) — plus a short national tier we verified by hand. We refresh each list as its agency publishes. No listing is paid.
Who actually approves home loans in Fillmore County.
home-purchase applications that reached a decision were turned down: 11 of 183.
- Applications
- 201
- Loans made
- 166
- Median rate
- 6.5%
- Too much debt for the income36.4%
- The home's value or condition18.2%
- Credit history18.2%
- Merchants Bank483410.5%6.2%
- United Shore Financial Services382712.9%6.1%
- Alerus Financial24230%6.3%
- Rocket Mortgage241338.1%6.5%
- ALTRA Federal Credit Union161313.3%6.7%
- Bell Bank12110%6%
- Guaranteed Rate13918.2%6.4%
- Mortgage Research Center11811.1%6%
- U.S. Bank11818.2%6.4%
- Compeer Financial, FLCA10710%7.5%
The 10 lenders that made the most home loans in Fillmore County in 2025, buying and refinancing together. The mark on each bar is the whole county's denial rate (16.8%). Home loans only: first-lien, owner-occupied, one-to-four-unit homes, as reported under the federal HMDA law. Small lenders below its reporting threshold — many of the credit unions above — don't report, so their loans aren't counted here. Rates are for loans made. Source: HMDA 2025 public loan records (FFIEC).
Buying or investing in a home in Fillmore County, Minnesota is very achievable — even if you are self-employed, new to credit, or do not have a Social Security number. This guide walks you through what home financing looks like in this region, who qualifies, what paperwork to gather, and which local lenders and community organizations actually serve this county. Take your time, compare your options, and never feel pressured to sign anything you do not fully understand.
What Is Home Financing?
Home financing simply means borrowing money to buy, build, or improve a home — and then repaying it over time, usually with interest. The most common form is a mortgage: a loan secured by the property itself. If you stop making payments, the lender can eventually reclaim the property, so it is important to borrow an amount you can realistically afford.
There are several kinds of home loans available in Fillmore County:
- Conventional loans — offered by banks and credit unions, typically requiring a credit score and a down payment of 3–20%.
- FHA loans — backed by the federal government, accepting lower credit scores and down payments as low as 3.5%. These are a common starting point for first-time buyers.
- USDA Rural Development loans — because most of Fillmore County is designated rural, many properties here qualify for USDA loans, which can offer zero down payment and competitive rates.
- VA loans — for eligible veterans and active-duty military.
- ITIN loans — for buyers who have an Individual Taxpayer Identification Number instead of a Social Security number. Several local and state-level lenders offer these.
- Rehab and renovation loans — for buying a home that needs repairs, or improving a home you already own.
Remember: a lower interest rate is not the only thing that matters. Fees, loan terms, and how well a lender communicates with you are just as important.
Forget what the banks say.
Fillmore County is a largely rural, agricultural county in southeastern Minnesota, with Preston as the county seat. Communities like Spring Valley, Harmony, Lanesboro, and Rushford make up its small-town fabric. Agriculture — dairy farming in particular — is the economic backbone, alongside small manufacturing, healthcare, and a growing agritourism sector.
This regional economy directly shapes who qualifies for home financing here:
- Farmers and agricultural workers often have irregular or seasonal income. Many lenders in this region are experienced with farm income documentation and will review averaged multi-year income rather than just last year's tax return.
- Self-employed contractors and tradespeople are common in Fillmore County. Lenders will typically look at two years of tax returns to average your income, so consistent self-employment history matters more than a single strong year.
- ITIN borrowers — including members of the growing Latino workforce in the dairy and agricultural industries — can access home loans through ITIN-friendly lenders. Having an ITIN, a work history, and consistent bill-payment history (even without a formal credit score) is enough to get started at some institutions.
- Low-to-moderate income buyers may qualify for down payment assistance and subsidized loan programs through state and regional housing organizations.
- Small real-estate investors buying 1–4 unit properties can often use conventional financing, though rental income documentation requirements are stricter.
Do not assume you do not qualify before talking to a local lender or housing counselor. Eligibility rules vary significantly from one institution to another.
Get your papers in order.
Gathering your paperwork before you meet with a lender saves time and reduces stress. The exact list depends on your situation, but here is what most home loan applications in Fillmore County will require:
For everyone:
- Government-issued photo ID (passport, driver's license, consular ID / matrícula consular)
- ITIN or Social Security number
- Proof of address (utility bill, lease agreement)
- Last 2 years of federal tax returns (all pages)
- Last 2 months of bank statements (all pages)
- Proof of any other assets (retirement accounts, land, vehicles)
If you are employed by someone else:
- Last 2 pay stubs
- W-2 forms for the past 2 years
- Contact information for your employer
If you are self-employed or a contractor:
- 2 years of business tax returns (Schedule C or Form 1065/1120S)
- A year-to-date profit and loss statement
- Business bank statements
- Any licenses or contracts that show your work is ongoing
If you have agricultural income:
- Farm income schedules from your tax returns
- FSA farm records or lease agreements if applicable
- Documentation of any USDA program payments you receive
For ITIN borrowers:
- Your ITIN card or letter from the IRS
- 12–24 months of on-time payment history for rent, utilities, phone, or remittances (bank records or receipts work)
- Some lenders will accept a foreign credit report
Organize these in a folder — digital or paper — before your first meeting. You do not need everything to be perfect. A housing counselor can help you fill in any gaps.
The doors worth knowing.
This is the most important section. Fillmore County is served by a real network of community-focused financial institutions.
ALL 11 DOORS, BY NAME AND BY TOWN- 11
- SERVE IT
- 34
- ACROSS MN
Based in Minneapolis, Minnesota. A community development financial institution, certified by the U.S. Treasury to lend where a bank will not, and used to a file that is not clean. It lends SBA microloan money.
BEST FORCommunity lending where a bank has already said no, and working capital, equipment and payroll for a small business.Based in St Paul, Minnesota. Treasury-certified as a CDFI, which is a mandate rather than a courtesy: reaching borrowers the mainstream market passes over is the job. It lends SBA microloan money.
BEST FORWorking capital, equipment and payroll for a small business, and community lending where a bank has already said no.Based in Minneapolis, Minnesota. A CDFI — a mission lender, not a branch network. It is measured on who it reaches, which is why a thin file is not the end of the conversation. It lends SBA microloan money.
BEST FORCommunity lending where a bank has already said no, and working capital, equipment and payroll for a small business.Based in Saint Paul, Minnesota. A community development financial institution, certified by the U.S. Treasury to lend where a bank will not, and used to a file that is not clean. It lends SBA microloan money.
BEST FORWorking capital, equipment and payroll for a small business, and community lending where a bank has already said no.
Don't fall into these traps.
Most lenders in Fillmore County are honest, community-minded institutions. But some financing products — especially marketed online or through informal networks — can trap borrowers in cycles of debt. Here is what to watch for:
Contract for Deed (Land Contract):
This is very common in rural Minnesota. Instead of getting a bank loan, you make payments directly to the seller, who keeps the title until the loan is fully paid. This is not automatically bad, but it carries serious risks:
If you miss payments, you can lose the home and all the equity you built — faster than a traditional foreclosure.
The seller's mortgage (if any) on the property can default and affect you even if your payments are current.
Always have a real estate attorney review any contract for deed before signing. Do not skip this step.
Rent-to-Own Schemes:
Some rent-to-own arrangements are legitimate. Many are not. Be wary of any deal where a large upfront "option fee" is non-refundable, the purchase price is locked in at today's market or above, or the timeline makes it nearly impossible to qualify for a real mortgage before the option expires.
High-Fee Online Lenders:
National online lenders may advertise low rates but bury high origination fees, points, or prepayment penalties in the fine print. Always compare the APR (annual percentage rate), not just the interest rate. Get a Loan Estimate form from every lender you consider — they are required to give you one, and it makes comparison straightforward.
Pressure and Urgency:
A legitimate lender will never tell you that you must sign today or lose the deal. If you feel rushed, walk away. Take the paperwork home, read it, and call a HUD-approved housing counselor.
Targeting ITIN or Undocumented Borrowers:
Some informal lenders specifically target immigrant borrowers with terms that would never pass regulatory scrutiny at a licensed institution. Stick with licensed lenders — you can verify any lender's license through the Minnesota Department of Commerce.
Foreclosure "Rescue" Scams:
If you are already struggling with a mortgage, be especially cautious of anyone who promises to save your home in exchange for signing over the deed or paying upfront fees. Contact Minnesota's Homeownership Center or a HUD-approved counselor instead — their help is free.
Everything below is set by Minnesota, and it reads the same in every county in it. Who opens the door is not: 3 of the 11 above will take an ITIN instead of a social security number.
The rules where you are.
Minnesota has several laws and programs that directly affect home buyers in Fillmore County. These are not just federal programs with a Minnesota stamp — they are distinct resources and protections.
Minnesota Housing Finance Agency (MHFA):
MHFA is the state's housing finance authority. Their most important programs for Fillmore County buyers are:
— for first-time buyers, with below-market interest rates.
— down payment and closing cost assistance repaid monthly alongside your mortgage.
— down payment assistance with no payments until you sell, refinance, or pay off the home. This is especially useful for buyers with tight monthly budgets. All MHFA programs are accessed through approved lenders, not applied for directly. Minnesota's Homestead Classification: If the home you buy will be your primary residence, you can apply for homestead status with Fillmore County. This reduces your property tax burden and may affect your eligibility for certain local assistance programs. File with the Fillmore County Assessor's Office after closing. Right of Rescission: For refinances (not purchases), Minnesota law gives you three business days to cancel a loan after signing. Use this time to re-read your documents carefully. Minnesota Predatory Lending Law: Minnesota has stronger borrower protections than many states. Lenders must clearly disclose all fees, prepayment penalties are restricted, and high-cost loan provisions require additional safeguards. If a lender seems to be hiding fees or rushing you past disclosures, that is a warning sign. Agricultural Homestead Programs: Fillmore County participates in programs through the Minnesota Department of Agriculture and USDA Farm Service Agency (FSA) that can overlap with home financing — particularly for borrowers who live on farm property. Ask your lender or a local FSA office if any farm loan programs can be layered with your home loan. Fillmore County HRA (Housing and Redevelopment Authority): The Fillmore County HRA administers local housing programs and may have county-specific down payment assistance or rehabilitation loan funds. Contact them directly at the Fillmore County Government Center in Preston to ask what is currently available.
The short version.
- 01
Here is the short version of everything in this guide:
- 02
Fillmore County is a rural, agricultural part of southeastern Minnesota. Most properties here qualify for USDA zero-down loans. The Minnesota Housing Finance Agency offers down payment help through local lenders. If you have an ITIN instead of a Social Security number, there are real options for you — especially through CDFIs like Sunrise Banks and organizations like the Latino Economic Development Center.
- 03
Start by calling a HUD-approved housing counselor (it is free) and gathering your last two years of tax returns and bank statements. Then talk to at least two or three lenders — try Peoples State Bank of Preston, a local credit union like Altra Federal Credit Union, and a CDFI like Bluff Country Community Development Corporation.
- 04
Do not sign a contract for deed without a lawyer. Do not let anyone rush you. Do not pay upfront fees before a loan closes.
Same county, another question.
Business FinancingLoans, lines of credit, and capital for small businesses and contractorsSEE IT IN FILLMORE COUNTY →
Personal FinancingPersonal loans, credit building, and ITIN-friendly financing optionsSEE IT IN FILLMORE COUNTY →49MN COUNTIES WITH DOORSThe whole stateEvery county in Minnesota, in this same lane.34 institutions fund homes and repairs inside Minnesota county lines.OPEN THE STATE →Still don't see your situation?
Ask Iris. She'll explain it the way it should have been explained the first time.