Minneapolis USDA Loan Rates, Closing Costs & Stats

MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI

USDA loans are zero-downpayment loans targeted towards lower-income households in rural areas. They can be made directly by the US Department of Agriculture or through a participating lender-- and they typically to borrowers with credit scores over 640. They can have subsidized rates, making them very competitive in terms of cost, but they have more stringent standards on who is eligible as well as specific covenants such as only being available in rural areas and limits on home size.

Minneapolis's 34 lenders originated 96 USDA loans during 2024. The total origination value was $29,220,000, with an average USDA loan value of $304,375.

Minneapolis USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Minneapolis averaged 0.15% for the week of 2025-06-20, compared to the national average (all USDA variants) of 0% for the same period.

Minneapolis's average USDA mortgage closing costs are $6,235.

The average rate for the prior week (2025-06-13) was 6.65% and one month ago for the week of 2025-05-16, the average rate was 6.62%.

The average rate one year ago was 6.84%.

For refis of the same type during the week of 2025-06-20, the average rate was 0.09%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Minneapolis USDA Loan Lenders by Rates & Fees

The below table looks at the average fees/closing costs and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Minneapolis level.

Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 11 6.28% $8,634
Paramount Residential Mortgage Group, Inc. 8 6.45% $9,291
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 6 6.33% $11,097
NEWREZ LLC 5 5.80% $9,555
CROSSCOUNTRY MORTGAGE, LLC 5 6.20% $11,330
American Mortgage & Equity Consultants, Inc. 5 6.35% $12,271
BROKER SOLUTIONS, INC. 5 6.88% $7,646
Bell Bank 4 6.44% $10,039
PLAZA HOME MORTGAGE, INC. 4 6.31% $8,498
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 4 6.63% $8,975
LOANDEPOT.COM, LLC 3 6.79% $6,146
Summit Mortgage Corporation 2 6.25% $9,631
Equity Prime Mortgage LLC 2 5.25% $6,494
Prosperity Home Mortgage, LLC 2 6.13% $8,740
Flagstar Bank, FSB 2 6.38% $9,431
Loan Simple, Inc. 2 6.63% $11,393
SUN WEST MORTGAGE COMPANY, INC. 2 6.00% $9,646
BAY EQUITY LLC 2 6.00% $9,158
GUARANTEED RATE, INC. 2 6.37% $8,330
Century Mortgage Company DBA Century Lending Company 2 5.94% $9,098
Waterstone Mortgage Corporation 1 6.50% $11,506
Barrington Bank & Trust Company, N.A. 1 6.99% $5,763
First Western Bank & Trust 1 6.25% $7,848
FREEDOM MORTGAGE CORPORATION 1 6.75% $5,642
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 6.25% $12,737
GUILD MORTGAGE COMPANY 1 6.38% $11,964
IOWA BANKERS MORTGAGE CORPORATION 1 6.50% $5,400
Ixonia Bank 1 6.13% $7,707
Mortgage Research Center, LLC 1 6.50% $5,952
Nations Lending Corporation 1 6.13% $3,828
PLANET HOME LENDING, LLC 1 6.63% $9,791
Sierra Pacific Mortgage Company, Inc. 1 5.63% $12,609
ST. CLOUD FINANCIAL 1 6.00% $9,294
Alerus Financial 1 6.38% $3,837

The top Minneapolis USDA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 11 USDA loans originated. Their average total fees are $8,634, which is $656 lower than the next largest lender, Paramount Residential Mortgage Group, Inc..

The lowest fee Minneapolis USDA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC ($8,634), .

The lowest rate Minneapolis USDA lenders (with over 10 loans originated) are UNITED WHOLESALE MORTGAGE, LLC (6.28%), .