Meet Lu Gronseth
Welcome to my website. I am looking forward to putting my 25+ years' experience in real estate and mortgage financing to work for you. Whether you are purchasing your first home or refinancing for the 10th time, I want this to be your best experience in obtaining a mortgage. You are working not only with me, but also with the whole Bell Bank Mortgage team, one of the best in the business. Founded in 1880, Bell Bank Mortgage is the oldest and largest mortgage banker in Minnesota.
Success in business is a combination of knowledge or technical expertise and personal interest in your clients. One without the other is not good enough. Your situation may be very straightforward or very complex, but I believe my years of managing properties from single family homes to high-rise office buildings, personally buying and selling almost 200 properties, and financing properties from individual condos to a sugar plantation in the Bahamas will provide the technical expertise to make your experience special.
I also love the personal side of the business. Having started my career as a teacher/coach and having been involved in many community organizations and church and ministry boards I understand the importance of the "human side" of each transaction and want to make this very special for you.
In addition to me, you will be working with Lynn Virchow, who will be processing your loan, and my assistant, Kyle Gronseth. I couldn't ask for a better support staff. They will take great care of you. We look forward to serving you. Please don't hesitate to call for any reason. Have a great day!
Our process is smooth and simple from start to finish:
- Talk with me. I will work with you to help you determine your financing options and answer all your questions.
- Apply Online. Complete your mortgage application at your convenience through our online application.
- Work together through final approval. From the time your application is received, I work with you to ensure you move through the process checkpoints to final approval.
- Closing on your loan. Prior to loan closing, I will review the Closing Disclosure, funds needed and documentation to bring to close with you. On closing day the final documents are signed at the title company and you receive the keys to your new home!
Home Financing Calculators
- Should I refinance?
- How much will my fixed rate mortgage payment be?
- How much will my adjustable rate mortgage payments be?
- How much will my payments be for a balloon mortgage?
- Should I rent or buy?
- Which mortgage is better for me?
- How much will I save by increasing my mortgage payment?
- How much mortgage might I qualify for?
- How much home can I afford?
- Should I consolidate my loans?
There are a lot of myths about financing a new home – and we’re here to dispel them for you! Here are some of the most commonly held “mortgage myths”:
- You need a 20% down payment to purchase a home. False! You may qualify for an FHA mortgage or other special program that can reduce the amount of down payment you need.
- Getting pre-approved costs a lot of money. False! At Bell Bank Mortgage, you can apply for online or in-person pre-approval, and it’s fast and free!
- You should wait until you are ready to buy to find out what mortgage you qualify for. False! You should get pre-approved 6 months before you’re ready to move. That allows you more time to save, repair credit issues or even look for a home.
- All mortgage companies are alike: False! Our Bell Bank Mortgage team brings years of financing experience and the region’s largest mortgage bank to your home loan! That means competitive rates, programs, costs and unequaled personal service.
About Super Mortgage Professionals
Lu Gronseth was named to the 2011, 2012, and 2013 lists of Super Mortgage Professionals, independently chosen by the homeowners they serve and approved by industry leaders. This annual list is compiled by Twin Cities Business, Minneapolis-St. Paul magazine and Crescendo Business Services, an Eagan-based market research company. It includes only about 130 mortgage professionals who successfully navigate mortgages.
Mortgage professionals named to the list were graded on customer service, integrity, market knowledge, communication, closing preparation, finding the best rates and overall satisfaction. Each professional went through a rigorous screening process, then was reviewed by a panel of mortgage and real estate industry experts selected to participate in the process based on their experience and knowledge of the industry.