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Dodge monthly mortgage insurance premiums (PMI) completely and secure the standard conventional baseline.
Explore programs requiring as little as 3% down conventional or 3.5% FHA, helping you buy sooner.
Optimize your existing debt service, lower your interest rate, or secure cash-out equity restructure.
Department of Veterans Affairs purchase loans offering 0% down payment and no monthly PMI for military.
Lock in lower interest rates with a 15-year fixed loan term to build massive equity quickly.
Finance non-owner occupied rental acquisitions or multi-unit house hacking with competitive investor pricing.
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Current Local Mortgage Rates
Sorted by lowest conforming purchase rate
Requires veteran or military eligibility
Loan amount is under conforming limits
| Loan Program | Today's Rate / APR | Points | Est. Payment | Action |
|---|---|---|---|---|
| Conventional 30-Yr FixedConforming | 6.988%APR 7.027% | 0 pts$0 | $1,672/moP&I $1,672 · MI $0 | See details |
| FHA 30-Yr FixedConforming | 6.071%APR 6.844% | 0 pts$0 | $1,664/moP&I $1,547 · MI $117 | See details |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| 15-Year Conforming FixedConforming | 6.245%APR 6.303% | 0 pts$0 | $1,548/moP&I $1,548 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 6.942%APR 6.982% | 0 pts$0 | $1,664/moP&I $1,664 · MI $0 | See details |
| Investment Property FixedConforming | 7.625%APR 7.717% | 0 pts$0 | $1,781/moP&I $1,781 · MI $0 | See details |
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Compare all 26 pre-computed scenario benchmarks
Scenario Program | Down Pct | Credit score | Today's Rate | APR | Points | P&I Payment | 3-Yr Metric Cost |
|---|---|---|---|---|---|---|---|
15-Year Conforming Purchase | 20% | 740 credit score | 6.245% | 6.303% | 0 pts ($0) | $2,157/mo | $44,193 |
15-Year Rate/Term Refi | 0% | 740 credit score | 6.139% | 6.197% | 0 pts ($0) | $2,678/mo | $60,408 |
Condo 10% Down | 10% | 720 credit score | 7.318% | 7.493% | 0 pts ($0) | $1,944/mo | $68,468 |
Conventional 10% Down | 10% | 720 credit score | 6.808% | 6.970% | 0 pts ($0) | $1,847/mo | $64,116 |
Conventional 20% Down | 20% | 740 credit score | 6.988% | 7.027% | 0 pts ($0) | $1,672/mo | $51,940 |
Conventional 5% Down | 5% | 700 credit score | 7.136% | 7.623% | 0 pts ($0) | $2,015/mo | $70,632 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.437% | 7.479% | 0 pts ($0) | $2,186/mo | $75,318 |
Conventional High Balance | 10% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $1,861/mo | $63,066 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.842% | 7.222% | 0 pts ($0) | $1,998/mo | $72,161 |
Conventional Rate/Term Refi | 0% | 740 credit score | 6.942% | 6.982% | 0 pts ($0) | $2,080/mo | $70,623 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $2,595/mo | $61,883 |
FHA 3.5% Down | 3.5% | 680 credit score | 6.071% | 6.844% | 0 pts ($0) | $1,866/mo | $65,632 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $1,906/mo | $66,714 |
FHA Streamline Refi | 0% | 640 credit score | 6.265% | 7.042% | 0 pts ($0) | $1,974/mo | $69,879 |
House Hacking Conforming 5% | 5% | 680 credit score | 7.093% | 7.342% | 0 pts ($0) | $2,007/mo | $72,934 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $1,968/mo | $38,528 |
Investment Property 25% Down | 25% | 740 credit score | 7.625% | 7.717% | 0 pts ($0) | $1,670/mo | $53,227 |
Jumbo Conforming | 20% | 760 credit score | 7.125% | 7.159% | 0 pts ($0) | $1,695/mo | $52,980 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $1,829/mo | $56,079 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 6.435% | 7.214% | 0 pts ($0) | $1,939/mo | $69,013 |
Second Home 10% Down | 10% | 720 credit score | 6.076% | 6.654% | 0 pts ($0) | $1,711/mo | $57,880 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $1,655/mo | $51,152 |
VA 0% Down | 0% | 700 credit score | 6.092% | 6.339% | 0 pts ($0) | $1,945/mo | $64,417 |
VA Cash-Out Refi | 0% | 640 credit score | 6.079% | 6.451% | 0 pts ($0) | $1,943/mo | $64,292 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 6.085% | 6.240% | 0 pts ($0) | $1,944/mo | $64,350 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $1,731/mo | $54,755 |
Frequently Asked Questions
What are today's mortgage rates in Brandon-Evansville, MN across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in Brandon-Evansville, MN is 6.988% (with an estimated monthly payment of $1,596). Active program rates also include FHA 30-year fixed loans at 6.071% and VA 0%-down fixed loans at 6.092%. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.
What is the recent mortgage rate trend in Brandon-Evansville, MN?
Mortgage rates have shown typical daily fluctuations driven by inflation data and bond yields. Over the past 90 days, conventional 30-year fixed rates in Brandon-Evansville, MN have fluctuated between a low of 6.883% and a high of 7.132%. You can track these daily movements by using the 90-day rate history and trajectory chart featured on this page.
Is an FHA or Conventional loan more cost-effective in Brandon-Evansville, MN?
Choosing between FHA and Conventional depends on your down payment budget and credit score. For a typical home priced at $314,535 in Brandon-Evansville, MN, a standard 20%-down Conventional loan requires an upfront cash down payment of $62,907 but keeps your monthly payment lower at $1,596/mo (at 6.988% interest) with no monthly PMI. In comparison, an FHA loan requires only $11,009 (3.5% down) but has an estimated payment of $1,781/mo (at 6.071% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $303,526 falls comfortably within the local HUD FHA loan limit of $524,225 (1-unit), making FHA financing an exceptionally accessible, high-leverage entry point into the market.
What is the maximum conforming loan limit in Brandon-Evansville before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in Brandon-Evansville is $806,501. With a typical local home value of $314,535 in , a standard 20%-down mortgage requires a loan size of $251,628. Because this is within the $806,501 conforming threshold, buyers can easily qualify for standard conforming conventional financing with competitive rates.
How does the median home value in Brandon-Evansville, MN impact estimated mortgage payments?
The median home value in Brandon-Evansville, MN is estimated at $314,535. Buying a typical home here with a standard 20% down payment ($62,907) translates to an estimated starting monthly mortgage payment of $1,596 (principal and interest). Compared to the local area median household income of $87,521 ($7,293/mo), this basic housing payment represents approximately 21.9% of gross monthly household income. This housing cost is well within standard lender affordability guidelines (under the 36% DTI benchmark), demonstrating healthy local purchasing power.