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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 | 6.999%APR 7.042% | 0 pts$0 | $1,072/moP&I $1,072 · MI $0 | See details |
| FHA 30-Yr FixedConforming | 6.100%APR 6.877% | 0 pts$0 | $1,069/moP&I $994 · MI $75 | See details |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| 15-Year Conforming FixedConforming | 6.258%APR 6.321% | 0 pts$0 | $993/moP&I $993 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 7.003%APR 7.047% | 0 pts$0 | $1,073/moP&I $1,073 · MI $0 | See details |
| Investment Property FixedConforming | 7.625%APR 7.730% | 0 pts$0 | $1,141/moP&I $1,141 · 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 | 6.258% | 6.321% | 0 pts ($0) | $1,383/mo | $28,366 |
15-Year Rate/Term Refi | 0% | 740 credit score | 6.099% | 6.162% | 0 pts ($0) | $1,711/mo | $38,457 |
Condo 10% Down | 10% | 720 credit score | 7.343% | 7.523% | 0 pts ($0) | $1,248/mo | $43,990 |
Conventional 10% Down | 10% | 720 credit score | 6.814% | 6.980% | 0 pts ($0) | $1,184/mo | $41,098 |
Conventional 20% Down | 20% | 740 credit score | 6.999% | 7.042% | 0 pts ($0) | $1,072/mo | $33,320 |
Conventional 5% Down | 5% | 700 credit score | 7.295% | 7.791% | 0 pts ($0) | $1,311/mo | $46,156 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.450% | 7.496% | 0 pts ($0) | $1,402/mo | $48,319 |
Conventional High Balance | 10% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $1,192/mo | $40,392 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.875% | 7.258% | 0 pts ($0) | $1,284/mo | $46,412 |
Conventional Rate/Term Refi | 0% | 740 credit score | 7.003% | 7.047% | 0 pts ($0) | $1,341/mo | $45,603 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $1,662/mo | $39,635 |
FHA 3.5% Down | 3.5% | 680 credit score | 6.100% | 6.877% | 0 pts ($0) | $1,199/mo | $42,208 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $1,221/mo | $42,729 |
FHA Streamline Refi | 0% | 640 credit score | 6.294% | 7.074% | 0 pts ($0) | $1,268/mo | $44,935 |
House Hacking Conforming 5% | 5% | 680 credit score | 7.267% | 7.523% | 0 pts ($0) | $1,308/mo | $47,717 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $1,260/mo | $24,676 |
Investment Property 25% Down | 25% | 740 credit score | 7.625% | 7.730% | 0 pts ($0) | $1,069/mo | $34,091 |
Jumbo Conforming | 20% | 760 credit score | 7.125% | 7.159% | 0 pts ($0) | $1,086/mo | $33,932 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $1,171/mo | $35,917 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 6.460% | 7.243% | 0 pts ($0) | $1,245/mo | $44,350 |
Second Home 10% Down | 10% | 720 credit score | 6.100% | 6.682% | 0 pts ($0) | $1,099/mo | $37,202 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $1,060/mo | $32,762 |
VA 0% Down | 0% | 700 credit score | 6.122% | 6.373% | 0 pts ($0) | $1,250/mo | $41,444 |
VA Cash-Out Refi | 0% | 640 credit score | 6.125% | 6.501% | 0 pts ($0) | $1,250/mo | $41,462 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 6.120% | 6.279% | 0 pts ($0) | $1,250/mo | $41,431 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $1,109/mo | $35,070 |
Frequently Asked Questions
What are today's mortgage rates in Clearbrook-Gonvick, MN across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in Clearbrook-Gonvick, MN is 6.999% (with an estimated monthly payment of $1,146). Active program rates also include FHA 30-year fixed loans at 6.100% and VA 0%-down fixed loans at 6.122%. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.
What is the recent mortgage rate trend in Clearbrook-Gonvick, 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 Clearbrook-Gonvick, MN have fluctuated between a low of 6.891% 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 Clearbrook-Gonvick, MN?
Choosing between FHA and Conventional depends on your down payment budget and credit score. For a typical home priced at $201,454 in Clearbrook-Gonvick, MN, a standard 20%-down Conventional loan requires an upfront cash down payment of $40,291 but keeps your monthly payment lower at $1,146/mo (at 6.999% interest) with no monthly PMI. In comparison, an FHA loan requires only $7,051 (3.5% down) but has an estimated payment of $1,281/mo (at 6.100% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $194,403 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 Clearbrook-Gonvick before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in Clearbrook-Gonvick is $806,501. With a typical local home value of $201,454 in , a standard 20%-down mortgage requires a loan size of $161,163. 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 Clearbrook-Gonvick, MN impact estimated mortgage payments?
The median home value in Clearbrook-Gonvick, MN is estimated at $201,454. Buying a typical home here with a standard 20% down payment ($40,291) translates to an estimated starting monthly mortgage payment of $1,146 (principal and interest). Compared to the local area median household income of $63,346 ($5,279/mo), this basic housing payment represents approximately 21.7% 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.