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Headwaters State Bank follows the standards for licensing and registration established by the Safe and Fair Enforcement for Mortgage Licensing Act of 2008. Information on employees who originate residential mortgage loans and are registered with the Nationwide Mortgage Licensing System and Registry, are listed below:

Institution NMLS ID# 710845

John Hletko, Managing Director - ID# 838940

MaryEllen Otterpohl, VP Loans/Compliance—ID# 795600

Cynthia Sutherland, Presque Isle Branch Manager—ID# 795599

Sally Folgert, President—ID# 1152848



Real Estate




See us for your recreational and personal loan needs. Let us help you finance the Automobile, Boat or ATV you are looking at! Contact us for information and an application today.

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We offer Commercial Real Estate and Business loans to fit your style. Whether you need to expand or improve your business, we will work with you to find the right solution.  Need to grow your business? We have several types of loans for the purchase of new or used equipment or vehicles. Down payment and interest rates vary by equipment and years financed.

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Residential Purchases

Whether you're buying your very first home or you found your northwood's retreat, see us first for your lending needs.

If you've decided to buy a new home, this information will help you take this big financial step by describing the home buying, home financing, and settlement process.  Lenders and mortgage brokers are required by federal law, to give you this information; (click here). It is called the Real Estate Settlement Procedures Act ("RESPA").

You probably started the home buying process in one of two ways: you saw a home you were interested in buying or you consulted a lender to figure out how much money you could borrow before you found a home (sometimes called prequalifying). The next step is to sign an agreement of sale with the seller, followed by applying for a loan to purchase your new home. The final step is called "settlement" or "closing," where the legal title to the property is transferred to you.

At each of these steps you often have the opportunity to negotiate the terms, conditions and costs to your advantage. This information will highlight such opportunities. You will also need to shop carefully to get the best value for your money. There is no standard home buying process used in all localities. Your actual experience may vary from those described here. This information helps you through the general process of buying a home to eliminate as much as possible, the mysteries of the settlement process.

For more information about residential loans, contact us.


Refinancing your home? We have several options available. Contact us to obtain more information and inquire about our rates.

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Renovate or improve your residence! See a Loan Officer in Land O' Lakes or in Presque Isle to discuss a construction loan tailored to fit your unique project.


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