Refined Lending
a division of Luminate Bank // Â NMLS #1281698
Your mortgage expert team!
At Refined Lending, a division of Luminate Bank, we understand that the mortgage process can feel overwhelming—filled with unfamiliar terms, endless paperwork, and uncertainty about what’s truly the best option for you. That’s why we’re here to change that experience.
Our team takes the time to understand your unique goals, financial situation, and timeline. Then, we simplify the process by offering clear, straightforward guidance and customized loan solutions designed to save you both time and money. Whether you're a first-time homebuyer, upgrading to your forever home, or refinancing to make the most of your investment, we’re committed to helping you move forward with clarity and confidence.
Get started by using one of our FREE tools!
Refined Lending, a division of Luminate Bank, is a custom home mortgage team specializing in up-and-coming or established, urban and suburban neighborhoods in the Twin Cities. Our experienced team works closely to suggest the perfect mortgage for your unique lifestyle; a payment that fits within your budget. The choice to work with Refined Lending, a division of Luminate Bank, will make your next move a simple, streamlined and highly rewarding experience. Our in-house products such as new construction, purchases, and refinancing will allow us to assist every homeowner.
With Refined Lending, a division of Luminate Bank, you will work with one team from the pre-approval stage all the way through your final home closing. Refined Lending, a division of Luminate Bank, partners with highly sought-after real estate agents, and home builders to make sure you get the most current trends and technology, as well as superior products and workmanship.
Contact Refined Lending, a division of Luminate Bank, today to find out what makes us stand out from the competition! Reaching us is easy:
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Join our team!
Interested in joining the team at Refined Lending, a division of Luminate Bank? Our culture and employees are what sets us apart from others in our industry. If you want to work for a company that cares about making a difference in the lives of our customers, referral partners and in the success of every staff member on our team, then Refined Lending, a division of Luminate Bank, may be the right place for you!
Contact one of our branch managers today.
The Refined Experience
Refined Lending, a division of Luminate Bank, is your trusted Mortgage partner. Whether you are looking to build new, renovate, relocate or refinance; Refined Lending, a division of Luminate Bank, has the in-house products to help you! We strive to help all clients achieve that dream of home ownership. Our convenient website www.RefinedLending.com, goes over all program details so you can make an educated decision about what’s best for you.
We have multiple brick and mortar locations in Minnesota from Blaine to Brainerd Lakes area, we have MN mortgage needs covered. We have on site Mortgage originators throughout the US. All of our Mortgage Loan Originators are licensed to originate mortgages in 50 states!
The choice to work with The Refined Lending, a division of Luminate Bank, Team will make your next move a simple, streamlined and highly rewarding experience.
Are you trying to figure out if renting or buying a home is better for you? Try using our Rent vs Buy Calculator to see what makes sense for you…
Our mortgage calculators are for demonstration purposes only and may not reflect actual numbers for your specific mortgage. Contact us and we will walk you through the best possible mortgage scenario for your specific needs!
Buying is cheaper than renting after
If you buy a house, after 3 years it will cost you $58 more per month and $5000 more in total than if you had rented.
But you will own in equity of your home with an appreciated value of .
If you buy a house, after 3 years you will have saved $58 per month and $5000 in total than if you had rented.
You will also own in equity of your home with an appreciated value of .
Buying will never be cheaper than renting
Home equity after
1 year years
TOTAL COSTYEARS
Costs over
Monthly Cost (after )Yearly Cost (after )Total Cost (after )
Rent
Buy
Difference
$0
$0
$0
Rent
Buy
Difference
$3,019
$92,453
$89,434
Rent
Buy
Difference
$3,019
$92,453
$89,434
Estimated Costs
These costs are estimated based on the information under the advanced section. You may adjust these values to suit your particular situation in order to get a more accurate estimate.
Monthly mortgage payments
$
Homeowner's insurance
$
Private Mortgage Insurance
$
HOA dues
$
Property tax
$
Home repairs
$
Renovations
$
Closing costs
$
Yearly rent increase
%
Rental insurance
$
How We Calculate the Costs
Calculating the Cost of RentingThe cost of renting is relatively straightforward to calculate. It primarily includes your monthly rent payments and a few additional expenses:
- Monthly rent payments
- Security deposit (typically equal to one month's rent)
- Renters insurance (annual premium)
- Down payment
- Closing costs (typically 2-5% of the home's value)
- Monthly mortgage payments (principal and interest)
- Property taxes
- Homeowners insurance
- Private Mortgage Insurance (PMI) if applicable
- HOA fees (if applicable)
- Maintenance and repairs
- Home improvements and renovations
- Annual home appreciation rate: %
- Annual rent increase: %
- Renters insurance: $ per year
- Home maintenance and repairs: % of home value per year
- Home improvements and renovations: % of home value per year
- Selling costs when you sell the home: % of home value
Check out our other mortgage calculators
Access our top-rated mortgage calculators to expertly assess your financing options, compare various loan types, and make informed decisions for your home buying journey.
