Minneapolis USDA Loan Rates, Closing Costs & Stats

MINNEAPOLIS-ST. PAUL-BLOOMINGTON, MN-WI

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    • 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 6.58% for the week of 2025-04-04, compared to the national average (all USDA variants) of 6.324% for the same period.

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

    The average rate for the prior week (2025-03-28) was 6.34% and one month ago for the week of 2025-02-28, the average rate was 6.69%.

    The average rate one year ago was 6.55%.

    For refis of the same type during the week of 2025-04-04, the average rate was 6.12%.

    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%), .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Minneapolis (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $372,500 (11.4%) $496,423 (8.7%) 1.38 5,726
    2018-02-01 $387,000 (8.9%) $516,058 (7.2%) 1.41 5,893
    2018-03-01 $389,900 (8.3%) $516,496 (5.8%) 1.37 6,389
    2018-04-01 $384,950 (7.8%) $512,453 (6.7%) 1.31 6,911
    2018-05-01 $374,995 (6.9%) $500,089 (6.0%) 1.25 7,779
    2018-06-01 $369,900 (6.5%) $492,041 (7.1%) 1.23 8,833
    2018-07-01 $361,700 (6.4%) $479,689 (5.5%) 1.21 9,538
    2018-08-01 $350,000 (6.1%) $470,751 (5.9%) 1.17 10,113
    2018-09-01 $349,900 (4.5%) $465,387 (3.0%) 1.18 10,549
    2018-10-01 $354,495 (4.4%) $472,994 (3.5%) 1.20 10,486
    2018-11-01 $349,900 (0.0%) $464,458 (-0.1%) 1.19 9,574
    2018-12-01 $368,667 (0.3%) $483,557 (0.6%) 1.27 7,907
    2019-01-01 $380,929 (2.3%) $493,333 (-0.6%) 1.32 6,709
    2019-02-01 $389,700 (0.7%) $505,898 (-2.0%) 1.32 6,535
    2019-03-01 $382,894 (-1.8%) $496,813 (-3.8%) 1.25 7,505
    2019-04-01 $371,726 (-3.4%) $481,715 (-6.0%) 1.18 9,049
    2019-05-01 $364,500 (-2.8%) $474,443 (-5.1%) 1.14 10,340
    2019-06-01 $357,500 (-3.4%) $468,164 (-4.9%) 1.12 11,558
    2019-07-01 $351,950 (-2.7%) $463,634 (-3.4%) 1.10 11,800
    2019-08-01 $347,173 (-0.8%) $458,179 (-2.7%) 1.10 12,038
    2019-09-01 $343,082 (-2.0%) $455,246 (-2.2%) 1.10 12,194
    2019-10-01 $339,950 (-4.1%) $453,291 (-4.2%) 1.10 12,185
    2019-11-01 $345,850 (-1.2%) $457,522 (-1.5%) 1.13 10,682
    2019-12-01 $349,900 (-5.1%) $464,962 (-3.9%) 1.17 8,485
    2020-01-01 $362,518 (-4.8%) $481,918 (-2.3%) 1.21 7,382
    2020-02-01 $375,000 (-3.8%) $498,243 (-1.5%) 1.23 7,401
    2020-03-01 $375,450 (-1.9%) $499,407 (0.5%) 1.18 8,108
    2020-04-01 $369,900 (-0.5%) $484,185 (0.5%) 1.16 8,456
    2020-05-01 $369,990 (1.5%) $485,834 (2.4%) 1.12 9,211
    2020-06-01 $373,923 (4.6%) $494,300 (5.6%) 1.10 9,282
    2020-07-01 $369,900 (5.1%) $492,877 (6.3%) 1.07 8,757
    2020-08-01 $363,105 (4.6%) $486,793 (6.3%) 1.04 8,705
    2020-09-01 $356,456 (3.9%) $480,551 (5.6%) 1.02 8,553
    2020-10-01 $349,900 (2.9%) $466,799 (3.0%) 1.00 8,577
    2020-11-01 $348,738 (0.8%) $466,409 (1.9%) 1.02 7,293
    2020-12-01 $347,450 (-0.7%) $470,857 (1.3%) 1.03 5,844
    2021-01-01 $359,780 (-0.8%) $483,097 (0.2%) 1.07 4,701
    2021-02-01 $369,900 (-1.4%) $501,382 (0.6%) 1.08 4,324
    2021-03-01 $369,900 (-1.5%) $507,351 (1.6%) 1.05 4,497
    2021-04-01 $359,950 (-2.7%) $498,306 (2.9%) 0.97 4,810
    2021-05-01 $364,900 (-1.4%) $496,373 (2.2%) 0.97 5,103
    2021-06-01 $365,000 (-2.4%) $488,216 (-1.2%) 0.96 6,110
    2021-07-01 $364,900 (-1.4%) $475,498 (-3.5%) 0.96 6,811
    2021-08-01 $359,753 (-0.9%) $468,737 (-3.7%) 0.96 7,416
    2021-09-01 $350,825 (-1.6%) $460,229 (-4.2%) 0.94 7,840
    2021-10-01 $350,000 (0.0%) $458,431 (-1.8%) 0.93 7,629
    2021-11-01 $350,000 (0.4%) $457,302 (-2.0%) 0.94 6,600
    2021-12-01 $357,400 (2.9%) $463,180 (-1.6%) 0.97 5,103
    2022-01-01 $372,500 (3.5%) $484,674 (0.3%) 1.01 3,941
    2022-02-01 $399,643 (8.0%) $520,193 (3.8%) 1.04 3,396
    2022-03-01 $415,677 (12.4%) $539,037 (6.3%) 1.04 3,722
    2022-04-01 $417,995 (16.1%) $543,396 (9.1%) 1.00 4,062
    2022-05-01 $424,900 (16.4%) $544,730 (9.7%) 0.97 5,210
    2022-06-01 $422,400 (15.7%) $547,605 (12.2%) 0.94 6,072
    2022-07-01 $424,900 (16.4%) $547,772 (15.2%) 0.96 6,951
    2022-08-01 $419,978 (16.7%) $544,659 (16.2%) 0.97 7,057
    2022-09-01 $413,445 (17.9%) $538,784 (17.1%) 0.97 7,230
    2022-10-01 $405,450 (15.8%) $530,598 (15.7%) 0.95 7,442
    2022-11-01 $399,900 (14.3%) $524,520 (14.7%) 0.96 6,977
    2022-12-01 $400,000 (11.9%) $532,190 (14.9%) 0.99 5,592
    2023-01-01 $419,083 (12.5%) $540,600 (11.5%) 1.04 4,628
    2023-02-01 $434,995 (8.9%) $562,629 (8.2%) 1.05 4,204
    2023-03-01 $451,400 (8.6%) $580,262 (7.7%) 1.06 4,292
    2023-04-01 $450,000 (7.7%) $594,684 (9.4%) 1.05 4,645
    2023-05-01 $459,935 (8.3%) $603,955 (10.9%) 1.04 5,100
    2023-06-01 $460,000 (8.9%) $609,960 (11.4%) 1.03 5,785
    2023-07-01 $461,000 (8.5%) $613,087 (11.9%) 1.05 6,060
    2023-08-01 $452,495 (7.7%) $594,950 (9.2%) 1.04 6,275
    2023-09-01 $445,000 (7.6%) $581,868 (8.0%) 1.04 6,970
    2023-10-01 $431,470 (6.4%) $570,780 (7.6%) 1.02 7,155
    2023-11-01 $420,498 (5.2%) $567,988 (8.3%) 1.00 6,923
    2023-12-01 $420,380 (5.1%) $573,902 (7.8%) 1.03 5,736
    2024-01-01 $425,000 (1.4%) $583,354 (7.9%) 1.04 4,932
    2024-02-01 $434,400 (-0.1%) $597,961 (6.3%) 1.05 4,893
    2024-03-01 $444,990 (-1.4%) $605,876 (4.4%) 1.05 5,334
    2024-04-01 $449,450 (-0.1%) $615,039 (3.4%) 1.05 5,782
    2024-05-01 $457,500 (-0.5%) $630,452 (4.4%) 1.04 6,404
    2024-06-01 $449,990 (-2.2%) $613,400 (0.6%) 1.02 7,042
    2024-07-01 $449,300 (-2.5%) $608,493 (-0.8%) 1.03 7,380
    2024-08-01 $439,990 (-2.8%) $599,854 (0.8%) 1.02 7,876
    2024-09-01 $432,500 (-2.8%) $591,468 (1.7%) 1.02 8,262
    2024-10-01 $425,000 (-1.5%) $582,164 (2.0%) 1.00 8,334
    2024-11-01 $420,000 (-0.1%) $575,993 (1.4%) 1.01 7,787
    2024-12-01 $423,198 (0.7%) $578,128 (0.7%) 1.05 6,195
    2025-01-01 $425,000 (0.0%) $584,665 (0.2%) 1.06 5,367
    2025-02-01 $434,950 (0.1%) $607,472 (1.6%) 1.06 5,326
    2025-03-01 $445,900 (0.2%) $616,369 (1.7%) 0.00 5,874
    Minneapolis's median listing price for 2025-03-01 was $445,900, a difference of $910 (0.2%) versus the prior year and $10,950 versus the prior month.

    Minneapolis's median listing price comes in at 0% of the national average.

    Minneapolis's average listing price for 2025-03-01 was $616,369, a difference of $10,493 (1.7%) versus the prior year and $8,897 versus the prior month.

    For the 2025-03-01 period, Minneapolis had 5,874 MLS listings, a difference of 548 listings (10%) versus the prior month and 540 listings (10%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Minneapolis (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 70 days 2,319 sqft
    2018-02-01 48 days 2,380 sqft
    2018-03-01 38 days 2,405 sqft
    2018-04-01 40 days 2,383 sqft
    2018-05-01 37 days 2,351 sqft
    2018-06-01 36 days 2,330 sqft
    2018-07-01 38 days 2,278 sqft
    2018-08-01 39 days 2,242 sqft
    2018-09-01 43 days 2,206 sqft
    2018-10-01 42 days 2,218 sqft
    2018-11-01 51 days 2,182 sqft
    2018-12-01 64 days 2,218 sqft
    2019-01-01 68 days 2,250 sqft
    2019-02-01 55 days 2,280 sqft
    2019-03-01 44 days 2,264 sqft
    2019-04-01 36 days 2,232 sqft
    2019-05-01 32 days 2,214 sqft
    2019-06-01 35 days 2,205 sqft
    2019-07-01 38 days 2,179 sqft
    2019-08-01 40 days 2,155 sqft
    2019-09-01 43 days 2,133 sqft
    2019-10-01 45 days 2,112 sqft
    2019-11-01 57 days 2,109 sqft
    2019-12-01 71 days 2,116 sqft
    2020-01-01 65 days 2,131 sqft
    2020-02-01 44 days 2,182 sqft
    2020-03-01 33 days 2,197 sqft
    2020-04-01 37 days 2,168 sqft
    2020-05-01 40 days 2,157 sqft
    2020-06-01 39 days 2,159 sqft
    2020-07-01 39 days 2,113 sqft
    2020-08-01 36 days 2,076 sqft
    2020-09-01 36 days 2,007 sqft
    2020-10-01 37 days 1,957 sqft
    2020-11-01 45 days 1,918 sqft
    2020-12-01 54 days 1,885 sqft
    2021-01-01 54 days 1,866 sqft
    2021-02-01 39 days 1,868 sqft
    2021-03-01 31 days 1,900 sqft
    2021-04-01 29 days 1,900 sqft
    2021-05-01 30 days 1,900 sqft
    2021-06-01 29 days 1,920 sqft
    2021-07-01 30 days 1,918 sqft
    2021-08-01 31 days 1,903 sqft
    2021-09-01 33 days 1,880 sqft
    2021-10-01 37 days 1,860 sqft
    2021-11-01 42 days 1,821 sqft
    2021-12-01 50 days 1,818 sqft
    2022-01-01 57 days 1,824 sqft
    2022-02-01 33 days 2,172 sqft
    2022-03-01 29 days 2,205 sqft
    2022-04-01 29 days 2,260 sqft
    2022-05-01 24 days 2,004 sqft
    2022-06-01 29 days 2,019 sqft
    2022-07-01 32 days 2,040 sqft
    2022-08-01 37 days 2,027 sqft
    2022-09-01 41 days 2,007 sqft
    2022-10-01 39 days 2,000 sqft
    2022-11-01 46 days 1,965 sqft
    2022-12-01 57 days 1,952 sqft
    2023-01-01 59 days 1,947 sqft
    2023-02-01 48 days 1,972 sqft
    2023-03-01 38 days 2,026 sqft
    2023-04-01 37 days 2,051 sqft
    2023-05-01 31 days 2,090 sqft
    2023-06-01 31 days 2,136 sqft
    2023-07-01 36 days 2,154 sqft
    2023-08-01 37 days 2,130 sqft
    2023-09-01 36 days 2,088 sqft
    2023-10-01 38 days 2,052 sqft
    2023-11-01 44 days 2,016 sqft
    2023-12-01 55 days 1,983 sqft
    2024-01-01 57 days 1,963 sqft
    2024-02-01 37 days 1,965 sqft
    2024-03-01 34 days 2,007 sqft
    2024-04-01 35 days 2,049 sqft
    2024-05-01 29 days 2,090 sqft
    2024-06-01 33 days 2,076 sqft
    2024-07-01 37 days 2,066 sqft
    2024-08-01 37 days 2,051 sqft
    2024-09-01 40 days 2,028 sqft
    2024-10-01 41 days 1,998 sqft
    2024-11-01 46 days 1,972 sqft
    2024-12-01 59 days 1,957 sqft
    2025-01-01 59 days 1,947 sqft
    2025-02-01 41 days 1,957 sqft
    2025-03-01 0 days 1,989 sqft
    Minneapolis's median listing age (time on market) for 2025-03-01 was 0 days. This is -100% shorter than the same period one year ago.

    Minneapolis's median square footage for active listings during the 2025-03-01 period was 1,989 sqft. One year prior, the average listing was 2,007 sqft.