Alerus Lender Credit

We’re making it easier for borrowers to purchase or refinance their home. The Alerus lender credit pays for up to $1,715 of closing and appraisal costs on behalf of the client. The credit is available to clients purchasing or refinancing a home in a low-to-moderate income census tract in the following counties: Anoka, Chisago, Clay, Dakota, Hennepin, Pierce, Polk, Ramsey, Scott, St. Croix, or Washington in Minnesota; Grand Forks or Cass in North Dakota; or Maricopa in Arizona.

Qualifying clients will receive a lender credit of $1,610 to cover these associated closing costs: underwriting fee ($995), processing fee ($195), appraisal fee* ($500), and credit bureau ($25).

Property Search
To verify a property qualifies as low-to-moderate income census tract, click here, enter the property address, and select Census Demographic Data. Tract income level must be “low” or “moderate.”