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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 | 6.994%APR 7.029% | 0 pts$0 | $1,642/moP&I $1,642 · MI $0 | See details |
| FHA 30-Yr FixedConforming | 6.079%APR 6.849% | 0 pts$0 | $1,634/moP&I $1,519 · MI $115 | See details |
| VA 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| Jumbo 30-Yr Fixed Doesn't Apply | — | — | — | Ineligible |
| 15-Year Conforming FixedConforming | 6.251%APR 6.303% | 0 pts$0 | $1,521/moP&I $1,521 · MI $0 | See details |
| Refinance 30-Yr FixedConforming | 7.022%APR 7.058% | 0 pts$0 | $1,646/moP&I $1,646 · MI $0 | See details |
| Investment Property FixedConforming | 7.625%APR 7.707% | 0 pts$0 | $1,748/moP&I $1,748 · 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 | 6.251% | 6.303% | 0 pts ($0) | $2,117/mo | $43,410 |
15-Year Rate/Term Refi | 0% | 740 credit score | 6.141% | 6.193% | 0 pts ($0) | $2,628/mo | $59,297 |
Condo 10% Down | 10% | 720 credit score | 7.309% | 7.479% | 0 pts ($0) | $1,906/mo | $67,113 |
Conventional 10% Down | 10% | 720 credit score | 6.818% | 6.977% | 0 pts ($0) | $1,814/mo | $63,001 |
Conventional 20% Down | 20% | 740 credit score | 6.994% | 7.029% | 0 pts ($0) | $1,642/mo | $51,014 |
Conventional 5% Down | 5% | 700 credit score | 7.148% | 7.630% | 0 pts ($0) | $1,980/mo | $69,418 |
Conventional Cash-Out Refi | 0% | 740 credit score | 7.426% | 7.464% | 0 pts ($0) | $2,143/mo | $73,808 |
Conventional High Balance | 10% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $1,827/mo | $61,887 |
Conventional HomeReady 3% | 3% | 660 credit score | 6.855% | 7.231% | 0 pts ($0) | $1,963/mo | $70,930 |
Conventional Rate/Term Refi | 0% | 740 credit score | 7.022% | 7.058% | 0 pts ($0) | $2,058/mo | $70,047 |
FHA 15-Year Fixed 3.5% Down | 3.5% | 680 credit score | 5.936% | 6.686% | 0 pts ($0) | $2,547/mo | $60,727 |
FHA 3.5% Down | 3.5% | 680 credit score | 6.079% | 6.849% | 0 pts ($0) | $1,832/mo | $64,478 |
FHA Streamline (Excellent Credit) | 0% | 740 credit score | 5.936% | 6.686% | 0 pts ($0) | $1,870/mo | $65,467 |
FHA Streamline Refi | 0% | 640 credit score | 6.275% | 7.048% | 0 pts ($0) | $1,939/mo | $68,667 |
House Hacking Conforming 5% | 5% | 680 credit score | 7.103% | 7.348% | 0 pts ($0) | $1,971/mo | $71,659 |
Investment 15-Year Fixed 25% Down | 25% | 740 credit score | 5.820% | 5.855% | 0 pts ($0) | $1,931/mo | $37,807 |
Investment Property 25% Down | 25% | 740 credit score | 7.625% | 7.707% | 0 pts ($0) | $1,638/mo | $52,232 |
Jumbo Conforming | 20% | 760 credit score | 7.125% | 7.168% | 0 pts ($0) | $1,664/mo | $51,989 |
Jumbo Elite Premium 10% Down | 10% | 760 credit score | 6.712% | 6.741% | 0 pts ($0) | $1,795/mo | $55,030 |
Lower Credit FHA 3.5% | 3.5% | 580 credit score | 6.452% | 7.228% | 0 pts ($0) | $1,906/mo | $67,878 |
Second Home 10% Down | 10% | 720 credit score | 6.087% | 6.662% | 0 pts ($0) | $1,681/mo | $56,890 |
Second Home 20% Down | 20% | 740 credit score | 6.884% | 6.900% | 0 pts ($0) | $1,624/mo | $50,195 |
VA 0% Down | 0% | 700 credit score | 6.099% | 6.343% | 0 pts ($0) | $1,910/mo | $63,280 |
VA Cash-Out Refi | 0% | 640 credit score | 6.087% | 6.455% | 0 pts ($0) | $1,908/mo | $63,166 |
VA IRRRL Streamline Refi | 0% | 640 credit score | 6.095% | 6.247% | 0 pts ($0) | $1,910/mo | $63,242 |
VA Military 10% Down | 10% | 720 credit score | 6.067% | 6.143% | 0 pts ($0) | $1,698/mo | $53,732 |
Frequently Asked Questions
What are today's mortgage rates in Wabasha-Kellogg Public, MN across different loan programs?
Today's benchmark conventional 30-year fixed mortgage rate in Wabasha-Kellogg Public, MN is 6.994% (with an estimated monthly payment of $1,642). Active program rates also include FHA 30-year fixed loans at 6.079% and VA 0%-down fixed loans at 6.099%. These rates are calibrated daily by Safe Rate's pricing engine matching active local market conditions.
What is the recent mortgage rate trend in Wabasha-Kellogg Public, 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 Wabasha-Kellogg Public, MN have fluctuated between a low of 6.869% and a high of 7.121%. 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 Wabasha-Kellogg Public, MN?
Choosing between FHA and Conventional depends on your down payment budget and credit score. For a typical home priced at $308,656 in Wabasha-Kellogg Public, MN, a standard 20%-down Conventional loan requires an upfront cash down payment of $61,731 but keeps your monthly payment lower at $1,642/mo (at 6.994% interest) with no monthly PMI. In comparison, an FHA loan requires only $10,803 (3.5% down) but has an estimated payment of $1,832/mo (at 6.079% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $297,853 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 Wabasha-Kellogg Public before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in Wabasha-Kellogg Public is $806,501. With a typical local home value of $308,656 in , a standard 20%-down mortgage requires a loan size of $246,925. 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 Wabasha-Kellogg Public, MN impact estimated mortgage payments?
The median home value in Wabasha-Kellogg Public, MN is estimated at $308,656. Buying a typical home here with a standard 20% down payment ($61,731) translates to an estimated starting monthly mortgage payment of $1,642 (principal and interest). Compared to the local area median household income of $73,754 ($6,146/mo), this basic housing payment represents approximately 26.7% 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.