Aaron Schnitzler likes being busy, which is a crucial attribute for his job as Vice President of Minnesota Lakes Bank’s Real Estate Division. The three-person office has processed $84 million in home mortgages over the past three years at an average pace of 140 mortgages each year.
“We are blessed to have Sherri Dehn as the manager of this office,” Aaron said. “There is no question she is a superstar when it comes to the secondary home mortgage market in our service area. I’ve learned a lot from her and I’m grateful to be part of this team.”
The reason for MNLB’s Real Estate Division prowess in the secondary home lending market is the ability of the team to maintain the network of relationships they’ve cultivated over many years in the Buffalo and greater Wright County area.
“We do the same kind of work any lender who offers home mortgages does,” Aaron explained. “It may sound trite, but we’ve demonstrated time and time again that we go above and beyond what our customers expect when it comes to helping them navigate the complex process of buying a home. There are many moving pieces when it comes to financing the purchase of a home.”
The Real Estate Division of MNLB currently works with two primary secondary mortgage investors, Flagstar Bank and Citizens Bank (formerly Franklin American Mortgage), that provide funding for prospective home buyers through one of several government enterprises: Fannie Mae (Federal National Mortgage Association), Freddie Mac (Federal Home Loan Mortgage Corporation), USDA (US Department of Agriculture), FHA (Federal Housing Administration), or the VA (Veterans Administration).
“We educate and work with buyers on the many programs that our investors offer, and determine with them what program best fits their situation or needs,” Aaron explained. “Frankly, many prospective homebuyers are quite anxious or nervous about the process, and it’s understandable. This isn’t an easy process, and it can be frustrating and overwhelming. The buyer has to deal with appraisers, realtors, title companies, lawyers, and others. We want to make the experience of buying a home to be enjoyable.”
“Our team here at Minnesota Lakes Bank has a great attitude about the work we do. We’ve been doing this for a while, we know how things are supposed to work, and we’re eager to help people navigate through the process,” Aaron continued.
“I think an obvious measure of our success,” said Aaron, “is the extent of our repeat business. Not only do we help repeat customers, but we’re now helping the children or even grandchildren of previous customers. We’ve apparently done something well.”
Very few of the Real Estate Division’s customer’s closings are delayed, another good indicator of their mastery of the system.
Their service area includes Buffalo, Monticello, Big Lake, Cokato, Montrose, Delano, the east side of Wright County, western Twin Cities suburbs and even some purchases in northern Minnesota, usually someone in their service area buying a second home or cabin.
“We offer a personal touch to the home buying experience,” said Aaron, “and we hold people’s hands throughout the process a lot firmer than our competitors do. Our customers feel good about the service we provide.”
Aaron has been with Minnesota Lakes Bank for eight years. He and his wife, Rebecca, have two children, Eliot and Ella, and reside in Albertville.