Vacation Home

Think offers many affordable vacation home financing options with flexible terms. These include adjustable rate and fixed rate mortgages.


  • Variety of options allow for flexibility in monthly payment, down payment, and term.
  • Same rates apply to vacation homes as a primary home.
  • Think retains servicing.


  • Loan term/amortization
    10, 15, 20 or 30 year fixed rate mortgage.
    5, 7 or 10 year adjustable rate mortgage.
  • Eligible property types
    1 unit suitable for year-round occupancy including condos, PUD's & townhomes.
    Occupied by borrower some portion of each year.
    Property cannot be subject to timeshare ownership.
    Located at a remote distance from borrower's primary residence so it reasonably functions as a second home.
  • Origination fee
    1% of loan amount, maximum of $1,500.
  • Interest rate
    Fixed or variable depending on product selection.

How to apply:

Apply online, visit one of our branch locations or call us at 1-800-288-3425.

* APR = Annual Percentage Rate.

Payment examples:
A 20 year $100,000 fixed rate loan at 3.393% APR* has an approximate monthly payment of $567.20. Downpayments vary from 0-20% for qualified borrowers.

A 7 year $100,000 adjustable rate mortgage loan at 3.783% APR* has approximate monthly payments of $435.21 for the first year with the rate subject to yearly adjustments or increases for 7 years up to 1.5% per year with a lifetime cap of 7.325% APR*. Downpayments vary from 0-20% for qualified borrowers.

Payment does not include amounts for taxes and insurance and the actual payment obligation may be greater. Origination fees may vary from $0-$1500. Other closing costs may apply. Other terms and amounts are available. Rate current as of January 27, 2020 and is subject to change. Home financing is available to existing customers, or new customers who live or work in Minnesota, for primary residences located in AZ, FL, IL, IN, IA, KS, MN, MO, NE, ND, SD & WI. Click here for current mortgage rates.

Financing for investment properties is available to existing customers, or new customers who live or work in Minnesota, for properties located in the following southeastern Minnesota counties: Olmsted, Dodge, Mower, Fillmore, Winona, Wabasha, Goodhue, Hennepin, Carver, Scott, Dakota, Ramsey, Washington and Anoka.

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Insurance products are offered through Think Insurance (MN license # IA-538), not Think Mutual Bank. Insurance products are not FDIC insured, are not insured by any federal agency, and are not a deposit or guarantee of Think Mutual Bank. This is not a policy. For a complete statement of coverages and exclusions, please see the policy contract.

The financial advisors of Think Financial Planning offer securities and advisory services through Commonwealth Financial Network®, member FINRA/SIPC, a Registered Investment Adviser. Investments are not insured by the FDIC and are not deposits or other obligations of, or guaranteed by, any depository institution. Funds are subject to investment risks, including possible loss of principal investment. Think Mutual Bank is not a registered broker-dealer or Registered Investment Adviser. Think Mutual Bank and Commonwealth are separate and unaffiliated entities. Fixed insurance products and services offered by CES Insurance Agency, Think Insurance, or Think Financial Planning. Think Financial Planning is headquartered at 5200 Members Pkwy NW, Rochester, MN 55901. Check the background of this firm on FINRA's BrokerCheck.

This information is provided for new customers who live or work in Minnesota, and for existing customers residing in the states of AR, AZ, CA, CO, FL, IL, IN, IA, KS, KY, MA, MD, MI, MN, MO, MT, NM, NV, NY, ND, NC, OH, PA, SD, TN, TX, UT, VA, WA, WI, WY. No offers may be made or accepted from any resident outside of these states due to various state regulations and registration requirements regarding investment products and services.