Resources

We're dedicated to providing valuable resources to help you navigate the complexities of homeownership in Brainerd, MN and beyond. Whether you're a first-time homebuyer, looking to refinance, or have a unique financial situation, we're here to guide you through the process and ensure you understand all your options.

Preparing for the Loan Process

Items Needed for Pre-approval

  • W2s from the last two years
  • 1040 Federal Tax Returns from the last two years (all pages)
  • If you are a business owner, you will need business tax returns and K1s
  • 2 most recent paystubs
  • 2 months of recent statements for all assets (checking, savings, money market, retirement, etc.)
  • Driver’s license or passport
  • Other documentation may include: offer letter for employment, school transcripts, social security or pension award letters, divorce decree, bankruptcy papers, short sale documentation.


Information Sent to Your Realtor

We will send an email to your realtor, explaining the program you are approved for, closing costs needed and any other details they may need to know.

Loan Options

Family feet around house

Conventional Loans


A conventional loan is a mortgage that is not guaranteed or insured by any government agency, including the Federal Housing Administration (FHA), Farmers Home Administration (aka, USDA) and Department of Veterans Affairs (VA).

  • 3 or 5% minimum down payment
  • Good Credit
  • No upfront fee
  • No private mortgage insurance (PMI) with 20% down
  • PMI removed at 78% LTV (primary home)
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Family pushing around kid in boxes

FHA Loans


An FHA loan is a mortgage issued by federally qualified lenders and insured by the Federal Housing Administration (FHA). FHA loans are designed for low-to-moderate income borrowers who are unable to make a large down payment.

  • 3.5% minimum down payment
  • Easier to Qualify, more flexible for lower credit scores
  • Monthly mortgage insurance
  • Upfront fee to FHA is 1.75% of loan, rolled into loan
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VA Loans


A VA loan is a mortgage loan in the United States guaranteed by the U.S. Department of Veterans Affairs. The VA loan was designed to offer long-term financing to eligible American veterans or their surviving spouses (provided they do not remarry).

  • 0% down payment
  • Must meet VA enlistment qualifications for program
  • Upfront fee to VA is 0.00% of Loan, rolled into loan (VA waives for certain military status/disability ratings)
  • No monthly mortgage insurance
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USDA Loans


A USDA loan, also known as the USDA Rural Development Guaranteed Housing Loan Program, is a mortgage loan offered to rural property owners by the United States Department of Agriculture.

  • 0% down payment
  • Property must be located in qualified area
  • Maximum household income limit is based on number of occupants (varies by State/County)
  • Upfront fee to USDA is 1.0% of loan, rolled into loan
  • Minimal monthly mortgage insurance
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Mortgage Loan Process

Your journey to homeownership begins by taking the crucial step of applying for pre-approval, ensuring a smooth transition into homeownership.

Upon receiving all your requested documents, we'll promptly arrange a meeting to discuss your mortgage options, provide insights into the home buying process, and issue your pre-approval!

Now comes the exciting phase - embarking on the search for your ideal home, armed with your pre-approval to showcase your commitment and readiness to make a purchase in the competitive Brainerd real estate market.

Once you discover the perfect home and your offer gets accepted, we swiftly lock in your interest rate, ensuring stability and predictability throughout the remainder of the homebuying journey.

The subsequent steps involve initiating the appraisal and title work, essential components of the home buying process that guarantee transparency and legality in your transaction.

With all documents meticulously gathered and reviewed, they are then submitted to underwriting for thorough examination, marking the final leg of the process and bringing you one step closer to achieving your homeownership aspirations.

Upon completion of the underwriting review, you'll receive final figures for closing, providing clarity and transparency regarding the financial aspects of your home purchase.

Finally, as you approach the culmination of your homeownership journey, all that's left to do is attend the closing appointment, armed with your driver’s license, where you'll officially receive the keys to your new home - congratulations on reaching this significant milestone with Refined Home Loans in Brainerd, MN!

Mortgage Calculator

Curious about estimating your monthly mortgage payments for your dream home? Explore our advanced mortgage calculator tool, designed to initiate insightful discussions about homeownership possibilities!

Common Questions

  • What are your business hours?

    Our typical hours are 8 a.m. to 5 p.m.

  • Do we need to provide all of our information to get a rate quote?

    We can make assumptions but prefer not to since once we get your information it can change. There are over 25 different variables that go into the rate. Top variables are credit score, loan amount, loan compared to value, occupancy, and how much or if you want to pay what is called “discount points” to buy the rate down.

  • Do you do a hard credit pull/inquiry?

    Yes, we have to do a hard credit inquiry so we know your credit score. Lenders use a mortgage model which is most of the time different from what the free services give you. The free credit services give you an idea of where you might be, but the score may not be accurate. Credit is one of the major factors that affect interest rates.

  • How long is a pre-approval good for?

    Pre-approval is good for 120 days. After that, information will have to get refreshed to extend that time.

  • What happens at closing?

    Amed with your driver’s license, you'll sign a lot of papers, but at the end of it, you'll officially receive the keys to your new home! Congratulations on reaching this significant milestone!

  • How long does it take to get pre-approved?

    Pre-approval can get done as quickly as one day or may take up to a week depending on how long it takes to receive your required information. 

  • What am I approved up to?

    People are approved up to a certain monthly payment amount: Having to back into that amount by taking into consideration monthly insurance, taxes, etc. Then we also back into purchase price based on down payment.  It is always more important to find out what your ideal maximum monthly payment comfortable level is versus your maximum monthly payment qualification amount. 

  • What are the closing costs?

    The closing costs are mostly fixed costs associated with getting the loan. In addition, there are some variable items to set up escrow to pay for taxes and insurance at closing. Also, potential points to buy down a better interest rate or lender credit for a higher rate.  General rule of thumb of 3% of the purchase price can be a good gauge for homes in the $275K to $375K range. 

  • Who do I pay and when?

    Inspections will have to be paid at the time of the inspection. Earnest money is usually paid at the time that your offer is accepted. Sometimes appraisals are paid at the time of the appraisal (other times it will be collected at closing). The remaining items are paid at closing. 

  • When is my first payment?

    Typically, 30-60 days from closing. Due on the 1st of each month with a 15 day grace period.

Want your free guide to our mortgage loan process?

The mortgage loan process can seem complex. Luminate, and specifically the John Kinkeade Team, wants to ensure you feel educated as you move through the process. This resource packet will outline the steps you will take with Luminate as you work towards your mortgage loan.


And the best part? It's free for you to download any time! Simply input your info below to get access.

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