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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 | 6.985%APR 7.024% | 0 pts$0 | $1,914/moP&I $1,914 · MI $0 | See details |
| FHA 30-Yr FixedConforming | 6.070%APR 6.843% | 0 pts$0 | $1,905/moP&I $1,771 · MI $134 | See details |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| 15-Year Conforming FixedConforming | 6.233%APR 6.290% | 0 pts$0 | $1,771/moP&I $1,771 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 7.125%APR 7.189% | 0 pts$0 | $1,941/moP&I $1,941 · MI $0 | See details |
| Investment Property FixedConforming | 7.625%APR 7.715% | 0 pts$0 | $2,040/moP&I $2,040 · 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 | 6.233% | 6.290% | 0 pts ($0) | $2,468/mo | $50,508 |
15-Year Rate/Term Refi | 0% | 740 credit score | 6.254% | 6.321% | 0 pts ($0) | $3,089/mo | $70,378 |
Condo 10% Down | 10% | 720 credit score | 7.314% | 7.489% | 0 pts ($0) | $2,226/mo | $78,368 |
Conventional 10% Down | 10% | 720 credit score | 6.805% | 6.967% | 0 pts ($0) | $2,114/mo | $73,394 |
Conventional 20% Down | 20% | 740 credit score | 6.985% | 7.024% | 0 pts ($0) | $1,914/mo | $59,454 |
Conventional 5% Down | 5% | 700 credit score | 7.127% | 7.613% | 0 pts ($0) | $2,306/mo | $80,792 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.433% | 7.475% | 0 pts ($0) | $2,502/mo | $86,208 |
Conventional High Balance | 10% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $2,132/mo | $72,220 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.841% | 7.221% | 0 pts ($0) | $2,287/mo | $82,625 |
Conventional Rate/Term Refi | 0% | 740 credit score | 7.125% | 7.189% | 0 pts ($0) | $2,427/mo | $82,861 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $2,972/mo | $70,866 |
FHA 3.5% Down | 3.5% | 680 credit score | 6.070% | 6.843% | 0 pts ($0) | $2,136/mo | $75,148 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $2,182/mo | $76,398 |
FHA Streamline Refi | 0% | 640 credit score | 6.264% | 7.040% | 0 pts ($0) | $2,260/mo | $80,012 |
House Hacking Conforming 5% | 5% | 680 credit score | 7.088% | 7.337% | 0 pts ($0) | $2,297/mo | $83,469 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $2,253/mo | $44,120 |
Investment Property 25% Down | 25% | 740 credit score | 7.625% | 7.715% | 0 pts ($0) | $1,912/mo | $60,953 |
Jumbo Conforming | 20% | 760 credit score | 7.125% | 7.159% | 0 pts ($0) | $1,941/mo | $60,670 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $2,094/mo | $64,219 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 6.434% | 7.213% | 0 pts ($0) | $2,220/mo | $79,020 |
Second Home 10% Down | 10% | 720 credit score | 6.075% | 6.653% | 0 pts ($0) | $1,959/mo | $66,272 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $1,895/mo | $58,577 |
VA 0% Down | 0% | 700 credit score | 6.091% | 6.338% | 0 pts ($0) | $2,228/mo | $73,757 |
VA Cash-Out Refi | 0% | 640 credit score | 6.078% | 6.450% | 0 pts ($0) | $2,224/mo | $73,613 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 6.083% | 6.238% | 0 pts ($0) | $2,226/mo | $73,669 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $1,982/mo | $62,704 |
Frequently Asked Questions
What are today's mortgage rates in Tri-City United, MN across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in Tri-City United, MN is 6.985% (with an estimated monthly payment of $1,615). Active program rates also include FHA 30-year fixed loans at 6.070% and VA 0%-down fixed loans at 6.091%. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.
What is the recent mortgage rate trend in Tri-City United, 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 Tri-City United, MN have fluctuated between a low of 6.874% and a high of 7.127%. 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 Tri-City United, MN?
Choosing between FHA and Conventional depends on your down payment budget and credit score. For a typical home priced at $360,193 in Tri-City United, MN, a standard 20%-down Conventional loan requires an upfront cash down payment of $72,039 but keeps your monthly payment lower at $1,615/mo (at 6.985% interest) with no monthly PMI. In comparison, an FHA loan requires only $12,607 (3.5% down) but has an estimated payment of $1,802/mo (at 6.070% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $347,586 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 Tri-City United before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in Tri-City United is $806,501. With a typical local home value of $360,193 in , a standard 20%-down mortgage requires a loan size of $288,154. 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 Tri-City United, MN impact estimated mortgage payments?
The median home value in Tri-City United, MN is estimated at $360,193. Buying a typical home here with a standard 20% down payment ($72,039) translates to an estimated starting monthly mortgage payment of $1,615 (principal and interest). Compared to the local area median household income of $94,756 ($7,896/mo), this basic housing payment represents approximately 20.4% 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.