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Hi! I'm Shane...
Your Mortgage Consultant!

We make the home loan process as simple as possible by guiding you through every step.

Shane Hofmann

Mortgage Consultant

NMLSR: 245001

952-484-2319
Address: 14198 Commerce Ave NE Prior Lake, MN, 55372

Every one of our Mortgage Consultants can walk you through our products in detail – probably more detail than you want, in fact. So they definitely know their stuff.

More importantly, they want to know about you: What's your goal?

Buy a Home
Refinance a Home
Apply now

Ranked #1 in Customer Satisfaction among Mortgage Origination Companies

Home financing tailored to meet your needs

We have a full suite of mortgage programs to meet your needs and give you a competitive edge:

  • 01
    Fixed & adjustable rate mortgages
  • 02
    Federal Housing administration loans (FHA)
  • 03
    Veterans affairs loans (VA)
  • 04
    Renovation financing
  • 05
    Jumbo loans

Where can we help you thrive?

Are you looking to buy your first home? Need help managing your mortgage payment?

Trying to figure out how to afford that renovation? Whatever you situation is, we've got the answers.

Select a module

First time homebuyer

First time homebuyer

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Mortgage management

Mortgage management

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Refinancing

Refinancing

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Self-employed

Self-employed

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Veteran

Veteran

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Equity management

Equity management

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Financial planner

Financial planner

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Estate planning attorney

Estate planning attorney

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Realtor

Realtor

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Divorce attorney

Divorce attorney

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Know Your Monthly Mortgage Payment

Mortgage Amount, $
270,000
Total Cost Of Mortgage, $
703,080.00
Monthly payment:
1,953.00
P&I
Insurance
Taxes
PMI
HOA

Rental information

Property information

Loan information

Taxes and insurance information

Financial analysis
Plain English help
Rent
Buy
Total rent or P&I payments, $
129,992
68,300
Taxes and insurance, $
6,000
47,500
Total Mortgage Insurance, $
0
6,750
Total maintenance and HOA dues, $
0
5,000
Total payments
135,992
127,550
Rent
Buy
Average Monthly Payment, $
2,267
2,126
Monthly Rent Savings, $
141
Total income tax savings, $
0
19,375
Total Rent Details
-27,817
House Appreciation Value, $
382,884
Proceeds Minus Selling Costs, $
22,973
Minus Loan Balance, $
240,047
Recover Initial Down Payment, $
30,000
Recover Loan closing Costs, $
10,000
Home Purchase Benefits
79,864

Is it financially better to buy a home or to rent? The answer to this question depends upon how much the home costs, how much you are paying for rent, and how much you will have to pay each year in order to maintain your home.

If you were to pay 2,000 per month, for example, and the average rental payment increase was 4, you would pay 135,992 in a 5 year period toward rent and insurance. If you purchased a home and borrowed 270,000 with a 3 interest rate, and you paid 5,000 every year toward its maintenance/HOA dues, you could expect to pay a total amount of 127,550 in a 5 year period. For property taxes and insurance, you pay 7,500 in taxes each year and your annual insurance amount is 2,000.

When you consider your tax benefits and the appreciation of your home, however, you will actually MAKE money by purchasing a home. If your home shows an annual appreciation of 5 and your selling cost is 6, your house appreciation value will be 382,884. As a result, your total home purchase benefit will amount to 79,864.

What my clients say...

SK

Stephany Koenig

5.0

Prior Lake, MN

Dec 30, 2024

Everyone was so knowledgeable and helpful through the entire proces.

SB

Samantha Boadwine

5.0

Zimmerman, MN

Dec 13, 2024

No matter the day or time, Shane was always quick to respond. Even if he was unavailable at the very moment he always followed up promptly to let us know when he would be available. we always felt like he was just as invested in helping us find our home as we were! He was open to any and all questions and always made sure we understood what we were going over - and if we didn't he was always an email, text, or phone call away. He NEVER made us feel like a burden when we would reach out. 10/10 an amazing person to work with.

DK

Daniel Kerkove

5.0

Crystal, MN

Dec 3, 2024

Great and timely communication. Very knowledegable

RD

Ryan Dorn

5.0

Maple Grove, MN

Dec 3, 2024

Great experience!

JZ

Jason Zoellner

5.0

Farmington, MN

Dec 3, 2024

Great communication all the way through.

PS

PHILIP SKOGMO

5.0

Prior Lake, MN

Sep 12, 2024

Shane was very quick to answer any questions we had typically withing minutes, even after normal working hours. He was very helpful every time we needed something

BS

Brianne Skogmo

5.0

Prior Lake, MN

Sep 10, 2024

Shane and his entire team were patient with our questions and VERY responsive! Any time we sent an email, it was answered quickly!

DB

Danea Bruber

5.0

Prior Lake, MN

Sep 10, 2024

Shane always gave great updates!

BR

Brooke Raske

5.0

Apple Valley, MN

Sep 4, 2024

The entire team who supported me through the process of buying a house was so timely and communicative.

SM

Semira Mundt

5.0

Burnsville, MN

Sep 4, 2024

Thanks for your help Shane!

RS

Randy Simpson

5.0

Prior Lake, MN

Jul 29, 2024

Thank you this one worked out with all of our partners, Title, Mortgage, Warranty and Insurance

HB

Hunter Boadwine

5.0

Duluth, MN

Jul 15, 2024

Shane was very helpful and made the entire process easy!

AP

Adam Polski

5.0

Prior Lake, MN

Jul 5, 2024

Ease of everything, great communication, super friendly through an otherwise stressful situation.

KZ

Kelly Zimmermann

5.0

Shakopee, MN

Jul 5, 2024

Shane is very knowledgeable and professional! I completely trust his experience as a mortgage consultant and highly recommend him!

CM

Cody Miller

5.0

Rosemount, MN

Jun 24, 2024

Everyone was very knowledgeable and on top of everything the whole process went very smooth and I’m very happy with everyone and what they have done

TF

Timothy Ferrara

5.0

Coon Rapids, MN

Jun 19, 2024

See prior answers.

AS

Anna Stopka

5.0

Hastings, MN

Jun 19, 2024

Matched a lower interest rate from another company and had consistent communication with us during every step of the home selling/buying process.

CS

Cory Stopka

5.0

Hastings, MN

Jun 14, 2024

Shane was great at communicating every step of our journey with him and answered all of our questions with grace.

DD

Derek Dennis

5.0

Shakopee, MN

Jun 13, 2024

Shane does great work and is very efficient to answer questions any time of the day. Highly recommend!!

TD

Tammy Dodge

5.0

Cologne, MN

Jun 4, 2024

Timely responses. Shane and the team walked us through the entire process (no guessing on loan/closing status). We were never in the dark--not even once! This made the experience less stressful. Great team of professionals!

President and CEO - Justin Messer

Justin Messer

President and CEO

"Our mission is to provide financing solutions that positively impact lives and make a difference in the communities where we lend."

4.96 of 5.00

Our average client rating. YTD 12/2021 on experience.com

What is your home worth?

Check current market values for your home and view buyer demand.

I'm here to answer all
your mortgage questions

  • Do I need to save for a 20% down payment?

    No! With FHA loans you can get approved for as little as 3.5% down, VA and USDA loans can offer you $0-down options, and with Private Mortgage Insurance (PMI) you can get into your new home with less than a 20% down payment. Whatever your situation, you have options.

  • Are Pre-Qualification and Pre-Approval the same thing?

    No. Pre-qualification and pre-approval are two different things. Pre-qualification means that a mortgage lender has reviewed your financial records and believes you will qualify for a loan. A pre-approval is a conditional committment from a lender that they will lend you the money for a mortgage.

  • What's the difference between an adjustable and a fixed rate mortgage?

    A fixed rate mortgage means that the interest rate is set when you take out the loan and will not change. With an adjustable rate mortgage, the interest rate may go up or down after a certain amount of time. Many adjustable rate mortgages will start at a lower interest rate than fixed rate mortgages.

  • What is Private Mortgage Insurance (PMI)?

    Private Mortgage Insurance (PMI) is a type of insurance you may be required to pay if you are taking out a conventional mortgage with a downpayment that is less than 20% of the home's overall value. If you refinance your home with a conventional loan and your equity is less than 20% of the home's value, you may also be required to pay PMI. Private Mortgage Insurance protects the lender in the event that you stop making payments on your loan.

  • Can I access my home equity before I finish paying off my loan?

    Yes! Your mortgage advisor can help you find the right refinance and reverse mortgage options to help you access your home equity before you've finished paying off your loan. This can help with covering the cost of remodels, college tuition, long-term care plans, and more! Talk to your mortgage advisor to find out how you can access your home equity to cover any of your life's needs.

  • What do I do if I can't afford my mortgage payment anymore?

    The first thing you should do in the event that you can't afford your mortgage payements anymore is reach out to your lender. An experienced mortgage advisor can help you find options, such as refinancing or restructuring your loan, to help you keep up with your payments. Always reach out to your lender to ensure that you can keep up with your payments and stay in your home.

Take a look
inside our world

Looking at how we do business at Prosperity Home Loans Mortgage is as simple as a conversation. Are you ready to step inside?

Shane Hofmann

Shane Hofmann

Mortgage Consultant

NMLSR: 245001

Learn More