Minnesota homebuyers have plenty of housing options to choose from. Minnesota has just under 2.5 million housing units and a homeownership rate of roughly 72%, according to the U.S. Census Bureau’s 2018 American Community Survey.
Minnesota’s median housing value is $235,400, which falls just above the national median value of $229,700. Some areas of Minnesota have higher housing prices, but there are plenty of areas that offer lower price points.
U.S. News conducted an in-depth review of leading direct mortgage lenders. Research was based on program availability and customer satisfaction ratings. Because each consumer has different needs, the top finishers in several key areas were chosen.
What Are the Mortgage Rates in Minnesota?
The average interest rate for a 30-year fixed-rate conforming mortgage in Minnesota is 3.49%.
Home interest rates range from 2.75% to 4.75% in Minnesota.
What Are Today’s Mortgage Rates?
Locking in a low mortgage rate today can save you thousands over the life of your loan. Compare your mortgage rate offers with national average trends.
This Week’s Rate
Last Week’s Rate
|30-Year Fixed Rate||3.50%||3.51%|
|15-Year Fixed Rate||2.83%||2.83%|
|30-Year Fixed Jumbo Rate||3.58%||3.60%|
|5/1 ARM Rate||3.19%||3.20%|
|5/1 ARM Jumbo Rate||3.02%||3.00%|
*Rates as of June 8, 2020.
U.S. News’ Best Minnesota Mortgage Lenders
Methodology: U.S. News conducted an in-depth review of leading direct mortgage lenders in Minnesota. Research was based on program availability, customer satisfaction ratings and qualification requirements. Because each consumer has different needs, the top finishers in several key areas were chosen.
- Mortgage types offered: Conventional, VA, FHA, refinance, home equity
- Minimum FICO score: 620
- Maximum loan-to-value ratio: 100%
- Maximum debt-to-income ratio: 55%
- Loan amounts: Up to $5,000,000
- Total closing costs: Varies
- J.D. Power overall satisfaction rating: Four out of five