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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 | 7.163%APR 7.210% | 0 pts$0 | $1,123/moP&I $1,123 · MI $0 | See details |
| FHA 30-Yr FixedConforming | 6.108%APR 6.888% | 0 pts$0 | $1,102/moP&I $1,025 · MI $77 | See details |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| 15-Year Conforming FixedConforming | 6.375%APR 6.444% | 0 pts$0 | $1,036/moP&I $1,036 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 7.282%APR 7.344% | 0 pts$0 | $1,137/moP&I $1,137 · MI $0 | See details |
| Investment Property FixedConforming | 7.625%APR 7.785% | 0 pts$0 | $1,176/moP&I $1,176 · 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 | 6.375% | 6.444% | 0 pts ($0) | $1,435/mo | $29,797 |
15-Year Rate/Term Refi | 0% | 740 credit score | 6.350% | 6.425% | 0 pts ($0) | $1,791/mo | $41,144 |
Condo 10% Down | 10% | 720 credit score | 7.451% | 7.637% | 0 pts ($0) | $1,300/mo | $45,943 |
Conventional 10% Down | 10% | 720 credit score | 6.898% | 7.069% | 0 pts ($0) | $1,230/mo | $42,827 |
Conventional 20% Down | 20% | 740 credit score | 7.163% | 7.210% | 0 pts ($0) | $1,123/mo | $35,160 |
Conventional 5% Down | 5% | 700 credit score | 7.158% | 7.651% | 0 pts ($0) | $1,333/mo | $46,752 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.581% | 7.631% | 0 pts ($0) | $1,463/mo | $50,616 |
Conventional High Balance | 10% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $1,229/mo | $41,627 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.799% | 7.182% | 0 pts ($0) | $1,313/mo | $47,369 |
Conventional Rate/Term Refi | 0% | 740 credit score | 7.282% | 7.344% | 0 pts ($0) | $1,421/mo | $48,743 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $1,713/mo | $40,846 |
FHA 3.5% Down | 3.5% | 680 credit score | 6.108% | 6.888% | 0 pts ($0) | $1,236/mo | $43,547 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $1,258/mo | $44,035 |
FHA Streamline Refi | 0% | 640 credit score | 6.302% | 7.085% | 0 pts ($0) | $1,308/mo | $46,359 |
House Hacking Conforming 5% | 5% | 680 credit score | 7.105% | 7.360% | 0 pts ($0) | $1,326/mo | $48,212 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $1,299/mo | $25,430 |
Investment Property 25% Down | 25% | 740 credit score | 7.625% | 7.785% | 0 pts ($0) | $1,102/mo | $35,133 |
Jumbo Conforming | 20% | 760 credit score | 7.125% | 7.159% | 0 pts ($0) | $1,119/mo | $34,969 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $1,207/mo | $37,015 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 6.467% | 7.253% | 0 pts ($0) | $1,284/mo | $45,748 |
Second Home 10% Down | 10% | 720 credit score | 6.123% | 6.709% | 0 pts ($0) | $1,135/mo | $38,468 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $1,092/mo | $33,763 |
VA 0% Down | 0% | 700 credit score | 6.139% | 6.393% | 0 pts ($0) | $1,291/mo | $42,819 |
VA Cash-Out Refi | 0% | 640 credit score | 6.153% | 6.533% | 0 pts ($0) | $1,292/mo | $42,908 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 6.182% | 6.344% | 0 pts ($0) | $1,296/mo | $43,093 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $1,142/mo | $36,141 |
Frequently Asked Questions
What are today's mortgage rates in Round Lake-Brewster, MN across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in Round Lake-Brewster, MN is 7.163% (with an estimated monthly payment of $938). Active program rates also include FHA 30-year fixed loans at 6.108% and VA 0%-down fixed loans at 6.139%. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.
What is the recent mortgage rate trend in Round Lake-Brewster, 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 Round Lake-Brewster, MN have fluctuated between a low of 6.998% and a high of 7.264%. 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 Round Lake-Brewster, MN?
Choosing between FHA and Conventional depends on your down payment budget and credit score. For a typical home priced at $207,610 in Round Lake-Brewster, MN, a standard 20%-down Conventional loan requires an upfront cash down payment of $41,522 but keeps your monthly payment lower at $938/mo (at 7.163% interest) with no monthly PMI. In comparison, an FHA loan requires only $7,266 (3.5% down) but has an estimated payment of $1,032/mo (at 6.108% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $200,344 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 Round Lake-Brewster before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in Round Lake-Brewster is $806,501. With a typical local home value of $207,610 in , a standard 20%-down mortgage requires a loan size of $166,088. 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 Round Lake-Brewster, MN impact estimated mortgage payments?
The median home value in Round Lake-Brewster, MN is estimated at $207,610. Buying a typical home here with a standard 20% down payment ($41,522) translates to an estimated starting monthly mortgage payment of $938 (principal and interest). Compared to the local area median household income of $77,935 ($6,495/mo), this basic housing payment represents approximately 14.4% 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.