Select your Scenario
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 | 7.390%APR 7.444% | 0 pts$0 | $1,030/moP&I $1,030 · MI $0 | See details |
| FHA 30-Yr FixedConforming | 6.188%APR 6.973% | 0 pts$0 | $997/moP&I $927 · MI $69 | See details |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| 15-Year Conforming FixedConforming | 6.854%APR 6.935% | 0 pts$0 | $977/moP&I $977 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 7.304%APR 7.471% | 0 pts$0 | $1,022/moP&I $1,022 · MI $0 | See details |
| Investment Property FixedConforming | 7.625%APR 7.880% | 0 pts$0 | $1,054/moP&I $1,054 · 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 | 6.854% | 6.935% | 0 pts ($0) | $1,327/mo | $28,802 |
15-Year Rate/Term Refi | 0% | 740 credit score | 6.477% | 6.591% | 0 pts ($0) | $1,620/mo | $37,590 |
Condo 10% Down | 10% | 720 credit score | 7.625% | 7.835% | 0 pts ($0) | $1,186/mo | $42,088 |
Conventional 10% Down | 10% | 720 credit score | 7.020% | 7.197% | 0 pts ($0) | $1,117/mo | $39,029 |
Conventional 20% Down | 20% | 740 credit score | 7.390% | 7.444% | 0 pts ($0) | $1,030/mo | $32,556 |
Conventional 5% Down | 5% | 700 credit score | 7.254% | 7.755% | 0 pts ($0) | $1,207/mo | $42,445 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.625% | 7.750% | 0 pts ($0) | $1,318/mo | $45,647 |
Conventional High Balance | 10% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $1,102/mo | $37,336 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.836% | 7.225% | 0 pts ($0) | $1,182/mo | $42,688 |
Conventional Rate/Term Refi | 0% | 740 credit score | 7.304% | 7.471% | 0 pts ($0) | $1,277/mo | $43,843 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $1,537/mo | $36,636 |
FHA 3.5% Down | 3.5% | 680 credit score | 6.188% | 6.973% | 0 pts ($0) | $1,118/mo | $39,499 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $1,128/mo | $39,496 |
FHA Streamline Refi | 0% | 640 credit score | 6.353% | 7.141% | 0 pts ($0) | $1,179/mo | $41,872 |
House Hacking Conforming 5% | 5% | 680 credit score | 7.195% | 7.455% | 0 pts ($0) | $1,200/mo | $43,723 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $1,165/mo | $22,809 |
Investment Property 25% Down | 25% | 740 credit score | 7.625% | 7.880% | 0 pts ($0) | $988/mo | $31,512 |
Jumbo Conforming | 20% | 760 credit score | 7.125% | 7.159% | 0 pts ($0) | $1,004/mo | $31,365 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $1,083/mo | $33,200 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 6.511% | 7.302% | 0 pts ($0) | $1,157/mo | $41,275 |
Second Home 10% Down | 10% | 720 credit score | 6.293% | 6.888% | 0 pts ($0) | $1,037/mo | $35,360 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $980/mo | $30,283 |
VA 0% Down | 0% | 700 credit score | 6.258% | 6.518% | 0 pts ($0) | $1,172/mo | $39,086 |
VA Cash-Out Refi | 0% | 640 credit score | 6.269% | 6.656% | 0 pts ($0) | $1,174/mo | $39,149 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 6.375% | 6.544% | 0 pts ($0) | $1,187/mo | $39,756 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $1,025/mo | $32,416 |
Frequently Asked Questions
What are today's mortgage rates in Tri-County, MN across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in Tri-County, MN is 7.390% (with an estimated monthly payment of $748). Active program rates also include FHA 30-year fixed loans at 6.188% and VA 0%-down fixed loans at 6.258%. 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-County, 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-County, MN have fluctuated between a low of 7.297% and a high of 7.445%. 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-County, MN?
Choosing between FHA and Conventional depends on your down payment budget and credit score. For a typical home priced at $186,212 in Tri-County, MN, a standard 20%-down Conventional loan requires an upfront cash down payment of $37,242 but keeps your monthly payment lower at $748/mo (at 7.390% interest) with no monthly PMI. In comparison, an FHA loan requires only $6,517 (3.5% down) but has an estimated payment of $811/mo (at 6.188% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $179,695 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-County before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in Tri-County is $806,501. With a typical local home value of $186,212 in , a standard 20%-down mortgage requires a loan size of $148,970. 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-County, MN impact estimated mortgage payments?
The median home value in Tri-County, MN is estimated at $186,212. Buying a typical home here with a standard 20% down payment ($37,242) translates to an estimated starting monthly mortgage payment of $748 (principal and interest). Compared to the local area median household income of $71,451 ($5,954/mo), this basic housing payment represents approximately 12.6% 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.