Albert Lea Mortgage Rates & Closing Costs

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  • Trends
  • Rates vs. Fees
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  • Loan Attributes
    • 30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

    30 Year Fixed Rate mortgages in Albert Lea averaged 6.98% for the week of 2025-04-10, compared to the national average of 6.62% for the same period.

    The average rate for the prior week (2025-04-03) was 6.7% and one month ago for the week of 2025-03-06, the average rate was 6.69%.

    Albert Lea's average rate one year ago was 7.08%.

    For refis of the same type during the week of 2025-04-10, the average rate was 7.12%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2025-04-10 6.62%
    Albert Lea 30 Year Fixed Rate 2025-04-10 6.98%
    Albert Lea 30 Year Fixed Rate Refi 2025-04-10 7.12%
    Albert Lea 15 Year Fixed Rate 2025-04-10 5.72%
    Albert Lea 15 Year Fixed Rate Refi 2025-04-10 6.12%
    Albert Lea 30 Year FHA 2025-04-10 6.43%
    Albert Lea 30 Year FHA Refi 2025-04-10 6.33%
    Albert Lea 30 Year USDA 2025-04-10 6.45%
    Albert Lea 30 Year USDA Refi 2025-04-10 6.35%
    Albert Lea 30 Year VA 2025-04-10 6.29%
    Albert Lea 30 Year VA Refi 2025-04-10 6.39%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Albert Lea, MN.

    Albert Lea Top Lenders by Rates & Fees

    The below table looks at the consensus average rates and fees provided by each lender, for only loans originated in the Albert Lea, MN market. This includes FHA, Conventional, USDA and VA loans, as well as refis. All terms in the below chart are 30 year fixed rate. Unless noted otherwise, other data is all inclusive (FHA, ARM, 15-yr, etc.).

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    UNION HOME MORTGAGE CORP. 26 6.61% $5,307
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 22 7.03% $4,563
    Alerus Financial 18 6.83% $3,955
    QUICKEN LOANS, LLC 15 6.93% $4,806
    MOVEMENT MORTGAGE, LLC 12 7.11% $4,757
    UNITED WHOLESALE MORTGAGE, LLC 11 7.08% $5,687
    COMPEER FINANCIAL, FLCA 9 7.54% $3,702
    LOANDEPOT.COM, LLC 6 6.67% $4,804
    U.S. Bank 6 7.08% $3,587
    IOWA BANKERS MORTGAGE CORPORATION 5 6.78% $4,694
    Citizens Community Federal 5 6.98% $2,485
    Wells Fargo Bank 3 6.88% $4,296
    Plains Commerce Bank 3 7.04% $3,919
    PLAZA HOME MORTGAGE, INC. 3 6.88% $4,485
    GUARANTEED RATE, INC. 3 6.81% $4,053
    Servion, Inc. 3 7.08% $4,636
    LAND HOME FINANCIAL SERVICES, INC. 3 7.00% $7,900
    CROSSCOUNTRY MORTGAGE, LLC 3 7.08% $3,837
    BROKER SOLUTIONS, INC. 2 6.50% $3,904
    PENNYMAC LOAN SERVICES, LLC 2 7.06% $7,473
    Bremer Bank 2 6.44% $3,849
    Mr. Cooper ( Nationstar Mortgage ) 2 6.56% $5,128
    SPIRE Credit Union 2 6.75% $4,088
    VERIDIAN CREDIT UNION 1 6.25% $2,553
    MORTGAGE ACCESS CORP. 1 6.99% $3,492
    AMERICAN FINANCIAL NETWORK, INC. 1 6.00% $3,340
    American Mortgage & Equity Consultants, Inc. 1 7.13% $20,021
    AMERISAVE MORTGAGE CORPORATION 1 7.88% $5,768
    Bell Bank 1 5.99% $4,851
    BETTER MORTGAGE CORPORATION 1 7.13% $2,353
    CENTRAL MINNESOTA Credit Union 1 6.13% $4,751
    GUARANTEED RATE AFFINITY, LLC 1 6.88% $2,298
    HOMEOWNERS FINANCIAL GROUP USA, LLC 1 6.88% $2,985
    JPMorgan Chase Bank 1 6.75% $3,523
    Merchants Bank 1 5.90% $4,414
    Morgan Stanley Private Bank 1 6.75% $3,845
    AFFINITY PLUS 1 6.38% $1,750
    Mortgage Research Center, LLC 1 7.25% $3,261
    NEWREZ LLC 1 5.63% $8,023
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.99% $3,742
    Prosperity Home Mortgage, LLC 1 7.13% $3,891
    RUOFF MORTGAGE COMPANY, INC. 1 5.75% $4,683
    The Huntington National Bank 1 7.63% $4,757
    The Loan Store, Inc. 1 6.63% $4,454
    Think Mutual Bank 1 6.50% $3,044
    Tradition Mortgage, LLC 1 6.99% $3,240
    USAA Federal Savings Bank 1 7.13% $3,008

    Albert Lea Average Closing Costs & Other Stats

    Albert Lea, MN's 47 lenders originated 465 loans during 2024. The total origination value was $61,345,000, with an average loan value of $131,925.

    Albert Lea's average closing costs are $4,447.

    The top Albert Lea lender as defined by loan originations is UNION HOME MORTGAGE CORP., with 26 loans originated. Their average total fees are $5,307, which is $744 higher than the next largest lender, FAIRWAY INDEPENDENT MORTGAGE CORPORATION.

    The lowest fee Albert Lea lenders (with over 10 loans originated) are Alerus Financial ($3,955), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($4,563), MOVEMENT MORTGAGE, LLC ($4,757), QUICKEN LOANS, LLC ($4,806) and UNION HOME MORTGAGE CORP. ($5,307).

    The lowest rate Albert Lea lenders (with over 10 loans originated) are UNION HOME MORTGAGE CORP. (6.61%), Alerus Financial (6.83%), QUICKEN LOANS, LLC (6.93%), FAIRWAY INDEPENDENT MORTGAGE CORPORATION (7.03%) and UNITED WHOLESALE MORTGAGE, LLC (7.08%).

    Albert Lea, MN Mortgage Market Share & Volume

    Loan origination value is a good proxy for a lender's prominence within the market. The general assumption is that larger lenders will have more resources, but may spend more (and therefore charge more) on marketing and overhead expenses.

    Name 2023 Loan Value 2024 Loan Value % Change 2024 Market Share
    UNION HOME MORTGAGE CORP. $2,380,000 $6,450,000 171.0% 10.5%
    Alerus Financial $335,000 $4,915,000 1,367.2% 8.0%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $3,810,000 $4,420,000 16.0% 7.2%
    QUICKEN LOANS, LLC $3,240,000 $4,320,000 33.3% 7.0%
    UNITED WHOLESALE MORTGAGE, LLC $3,755,000 $3,575,000 -4.8% 5.8%
    COMPEER FINANCIAL, FLCA $1,800,000 $3,260,000 81.1% 5.3%
    MOVEMENT MORTGAGE, LLC $855,000 $2,980,000 248.5% 4.9%
    U.S. Bank $1,955,000 $2,290,000 17.1% 3.7%
    LOANDEPOT.COM, LLC $910,000 $2,095,000 130.2% 3.4%
    Manufacturers Bank & Trust Company $1,675,000 $1,795,000 7.2% 2.9%
    Mortgage Research Center, LLC $2,200,000 $1,640,000 -25.5% 2.7%
    GUARANTEED RATE, INC. $6,430,000 $1,595,000 -75.2% 2.6%
    CROSSCOUNTRY MORTGAGE, LLC $1,110,000 $1,110,000 0.0% 1.8%
    Plains Commerce Bank $275,000 $1,045,000 280.0% 1.7%
    IOWA BANKERS MORTGAGE CORPORATION $895,000 $1,035,000 15.6% 1.7%
    LAND HOME FINANCIAL SERVICES, INC. $1,340,000 $990,000 -26.1% 1.6%
    Citizens Community Federal $360,000 $855,000 137.5% 1.4%
    Mr. Cooper ( Nationstar Mortgage ) $290,000 $800,000 175.9% 1.3%
    Wells Fargo Bank $1,515,000 $745,000 -50.8% 1.2%
    PENNYMAC LOAN SERVICES, LLC $850,000 $670,000 -21.2% 1.1%
    TOWNE MORTGAGE COMPANY $935,000 $650,000 -30.5% 1.1%
    American Mortgage & Equity Consultants, Inc. $615,000 n/a 1.0%
    BROKER SOLUTIONS, INC. $750,000 $510,000 -32.0% 0.8%
    Servion, Inc. $350,000 $505,000 44.3% 0.8%
    Security Bank & Trust Company $465,000 n/a 0.8%
    PLAZA HOME MORTGAGE, INC. $330,000 $455,000 37.9% 0.7%
    Bell Bank $1,460,000 $425,000 -70.9% 0.7%
    MinnStar Bank N.A. $415,000 n/a 0.7%
    MUTUAL OF OMAHA MORTGAGE, INC. $410,000 n/a 0.7%
    SPIRE Credit Union $400,000 n/a 0.7%
    21ST MORTGAGE CORPORATION $110,000 $385,000 250.0% 0.6%
    NEWREZ LLC $155,000 $370,000 138.7% 0.6%
    BankVista $340,000 n/a 0.6%
    Prosperity Home Mortgage, LLC $745,000 $315,000 -57.7% 0.5%
    FREEDOM MORTGAGE CORPORATION $655,000 $310,000 -52.7% 0.5%
    Lakeview Community Capital, LLC $115,000 $295,000 156.5% 0.5%
    LAKEVIEW LOAN SERVICING, LLC $580,000 $280,000 -51.7% 0.5%
    BETTER MORTGAGE CORPORATION $265,000 n/a 0.4%
    Morgan Stanley Private Bank $265,000 n/a 0.4%
    JPMorgan Chase Bank $260,000 n/a 0.4%
    Minnwest Bank $240,000 $245,000 2.1% 0.4%
    Bremer Bank $240,000 n/a 0.4%
    USAA Federal Savings Bank $240,000 n/a 0.4%
    Carrington Mortgage Services, LLC $65,000 $235,000 261.5% 0.4%
    CENTRAL MINNESOTA Credit Union $200,000 $235,000 17.5% 0.4%
    Cambria Financial Group, LLC $180,000 $215,000 19.4% 0.4%
    Minnesota Valley Federal Credit Union $215,000 n/a 0.4%
    F & M Community Bank $195,000 n/a 0.3%
    Profinium Inc. $65,000 $195,000 200.0% 0.3%
    FINANCE OF AMERICA REVERSE LLC $190,000 n/a 0.3%
    NAVY FEDERAL CREDIT UNION $265,000 $190,000 -28.3% 0.3%
    The Loan Store, Inc. $185,000 n/a 0.3%
    AMERICAN FINANCIAL NETWORK, INC. $175,000 n/a 0.3%
    Tradition Mortgage, LLC $145,000 $175,000 20.7% 0.3%
    Think Mutual Bank $170,000 n/a 0.3%
    Merchants Bank $970,000 $165,000 -83.0% 0.3%
    VERIDIAN CREDIT UNION $165,000 n/a 0.3%
    ALTRA $490,000 $160,000 -67.3% 0.3%
    Figure Lending LLC $155,000 n/a 0.3%
    MORTGAGE ACCESS CORP. $155,000 n/a 0.3%
    TRUSTONE FINANCIAL FEDERAL CREDIT UNION $920,000 $150,000 -83.7% 0.2%
    Century Mortgage Company DBA Century Lending Company $145,000 n/a 0.2%
    Flanagan State Bank $145,000 n/a 0.2%
    The Huntington National Bank $140,000 n/a 0.2%
    M&T Bank $250,000 $135,000 -46.0% 0.2%
    AFFINITY PLUS $190,000 $130,000 -31.6% 0.2%
    Coastal Community Bank $195,000 $130,000 -33.3% 0.2%
    American State Bank $125,000 n/a 0.2%
    Flagstar Bank, FSB $325,000 $125,000 -61.5% 0.2%
    Summit Mortgage Corporation $290,000 $120,000 -58.6% 0.2%
    AMERICAN PACIFIC MORTGAGE CORPORATION $105,000 n/a 0.2%
    CARDINAL FINANCIAL $105,000 n/a 0.2%
    LENDINGHOME FUNDING CORPORATION $75,000 $85,000 13.3% 0.1%
    RUOFF MORTGAGE COMPANY, INC. $85,000 $85,000 0.0% 0.1%
    AMERISAVE MORTGAGE CORPORATION $175,000 $75,000 -57.1% 0.1%
    AMERITRUST MORTGAGE CORPORATION $75,000 n/a 0.1%
    Bank of America $455,000 $75,000 -83.5% 0.1%
    The First National Bank of Le Center $75,000 n/a 0.1%
    TRIAD FINANCIAL SERVICES, INC. $75,000 $75,000 0.0% 0.1%
    GUILD MORTGAGE COMPANY $65,000 n/a 0.1%
    MARINE $235,000 $65,000 -72.3% 0.1%
    GUARANTEED RATE AFFINITY, LLC $55,000 n/a 0.1%
    HOMEOWNERS FINANCIAL GROUP USA, LLC $55,000 n/a 0.1%
    HomeTown Bank $225,000 $35,000 -84.4% 0.1%
    PENTAGON FEDERAL CREDIT UNION $35,000 n/a 0.1%
    PRIMELENDING, A PLAINSCAPITAL COMPANY $35,000 n/a 0.1%
    WINGS FINANCIAL $65,000 $25,000 -61.5% 0.0%

    Albert Lea's top lender by overall market share is UNION HOME MORTGAGE CORP., with 10.5% market share. In second place, with 8.0%, is Alerus Financial, having originated $4,915,000 in loans. In third place, with 7.2%, is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, having originated $4,420,000 in loans. In fourth place, with 7.0%, is QUICKEN LOANS, LLC, having originated $4,320,000 in loans. In fifth place, with 5.8%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $3,575,000 in loans.

    Albert Lea Housing Market Trends (Median, Average Prices & Listing Count)

    Realtor.com - Albert Lea (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 $88,700 (-16.4%) $144,353 (2.2%) 0.00 83
    2018-02-01 $110,925 (9.7%) $149,606 (0.7%) 0.00 75
    2018-03-01 $114,900 (14.6%) $146,910 (-1.0%) 0.00 74
    2018-04-01 $147,175 (28.1%) $166,938 (8.8%) 0.00 68
    2018-05-01 $159,650 (29.1%) $183,682 (20.3%) 0.00 81
    2018-06-01 $150,950 (17.1%) $181,077 (9.5%) 0.00 99
    2018-07-01 $138,350 (14.4%) $170,575 (5.2%) 0.00 95
    2018-08-01 $123,500 (9.9%) $167,574 (7.1%) 0.00 89
    2018-09-01 $119,900 (9.1%) $166,273 (7.0%) 0.00 85
    2018-10-01 $131,150 (19.3%) $165,256 (3.9%) 0.00 95
    2018-11-01 $129,150 (17.5%) $157,657 (1.0%) 0.00 93
    2018-12-01 $130,000 (45.3%) $164,104 (10.9%) 0.00 89
    2019-01-01 $140,375 (58.3%) $172,725 (19.7%) 0.00 71
    2019-02-01 $142,400 (28.4%) $176,880 (18.2%) 0.00 57
    2019-03-01 $145,471 (26.6%) $179,121 (21.9%) 0.00 68
    2019-04-01 $153,900 (4.6%) $184,155 (10.3%) 0.00 84
    2019-05-01 $155,650 (-2.5%) $180,962 (-1.5%) 0.00 93
    2019-06-01 $164,900 (9.2%) $186,051 (2.8%) 0.00 97
    2019-07-01 $162,400 (17.4%) $181,832 (6.6%) 0.00 104
    2019-08-01 $149,900 (21.4%) $172,561 (3.0%) 0.00 113
    2019-09-01 $149,900 (25.0%) $174,048 (4.7%) 0.00 119
    2019-10-01 $149,900 (14.3%) $174,627 (5.7%) 0.00 125
    2019-11-01 $148,900 (15.3%) $172,258 (9.3%) 0.00 123
    2019-12-01 $143,650 (10.5%) $167,550 (2.1%) 0.00 115
    2020-01-01 $139,625 (-0.5%) $169,323 (-2.0%) 0.00 103
    2020-02-01 $142,900 (0.4%) $174,375 (-1.4%) 0.00 92
    2020-03-01 $144,900 (-0.4%) $178,250 (-0.5%) 0.00 99
    2020-04-01 $149,950 (-2.6%) $177,391 (-3.7%) 0.00 100
    2020-05-01 $163,900 (5.3%) $191,108 (5.6%) 0.00 105
    2020-06-01 $158,400 (-3.9%) $195,567 (5.1%) 0.00 95
    2020-07-01 $156,650 (-3.5%) $208,145 (14.5%) 0.00 81
    2020-08-01 $159,900 (6.7%) $209,367 (21.3%) 0.00 85
    2020-09-01 $153,900 (2.7%) $205,178 (17.9%) 0.00 76
    2020-10-01 $145,700 (-2.8%) $190,376 (9.0%) 0.00 71
    2020-11-01 $131,200 (-11.9%) $165,572 (-3.9%) 0.00 66
    2020-12-01 $122,400 (-14.8%) $160,821 (-4.0%) 0.00 52
    2021-01-01 $125,400 (-10.2%) $163,177 (-3.6%) 0.00 35
    2021-02-01 $121,900 (-14.7%) $173,673 (-0.4%) 0.00 29
    2021-03-01 $149,500 (3.2%) $202,360 (13.5%) 0.00 29
    2021-04-01 $168,725 (12.5%) $225,764 (27.3%) 0.00 23
    2021-05-01 $184,900 (12.8%) $237,376 (24.2%) 0.00 30
    2021-06-01 $192,400 (21.5%) $241,133 (23.3%) 0.00 27
    2021-07-01 $169,900 (8.5%) $217,513 (4.5%) 0.00 38
    2021-08-01 $142,050 (-11.2%) $195,828 (-6.5%) 0.00 57
    2021-09-01 $149,225 (-3.0%) $193,462 (-5.7%) 0.00 61
    2021-10-01 $149,000 (2.3%) $190,143 (-0.1%) 0.00 70
    2021-11-01 $137,925 (5.1%) $180,510 (9.0%) 0.00 71
    2021-12-01 $119,950 (-2.0%) $178,142 (10.8%) 0.00 55
    2022-01-01 $128,000 (2.1%) $189,438 (16.1%) 0.00 51
    2022-02-01 $147,400 (20.9%) $210,922 (21.5%) 0.00 35
    2022-03-01 $146,200 (-2.2%) $198,906 (-1.7%) 0.00 34
    2022-04-01 $159,900 (-5.2%) $224,765 (-0.4%) 0.00 29
    2022-05-01 $173,400 (-6.2%) $250,429 (5.5%) 0.00 34
    2022-06-01 $212,400 (10.4%) $262,744 (9.0%) 0.00 42
    2022-07-01 $235,900 (38.9%) $262,157 (20.5%) 0.00 51
    2022-08-01 $204,900 (44.2%) $251,372 (28.4%) 0.00 56
    2022-09-01 $199,900 (34.0%) $252,303 (30.4%) 0.00 61
    2022-10-01 $220,000 (47.7%) $256,843 (35.1%) 0.00 58
    2022-11-01 $218,225 (58.2%) $274,918 (52.3%) 0.00 54
    2022-12-01 $201,900 (68.3%) $249,034 (39.8%) 0.00 56
    2023-01-01 $190,150 (48.6%) $251,005 (32.5%) 0.00 46
    2023-02-01 $195,425 (32.6%) $247,707 (17.4%) 0.00 43
    2023-03-01 $180,000 (23.1%) $240,434 (20.9%) 0.00 40
    2023-04-01 $190,900 (19.4%) $238,998 (6.3%) 0.00 42
    2023-05-01 $232,175 (33.9%) $269,978 (7.8%) 0.00 50
    2023-06-01 $224,900 (5.9%) $266,097 (1.3%) 0.00 52
    2023-07-01 $224,900 (-4.7%) $259,330 (-1.1%) 0.00 57
    2023-08-01 $210,000 (2.5%) $248,989 (-1.0%) 0.00 57
    2023-09-01 $259,900 (30.0%) $260,125 (3.1%) 0.00 55
    2023-10-01 $262,900 (19.5%) $255,882 (-0.4%) 0.00 59
    2023-11-01 $219,925 (0.8%) $241,041 (-12.3%) 0.00 58
    2023-12-01 $229,500 (13.7%) $242,352 (-2.7%) 0.00 53
    2024-01-01 $200,000 (5.2%) $229,071 (-8.7%) 0.00 45
    2024-02-01 $219,950 (12.6%) $243,533 (-1.7%) 0.00 39
    2024-03-01 $232,450 (29.1%) $261,036 (8.6%) 0.00 39
    2024-04-01 $254,900 (33.5%) $266,618 (11.6%) 0.00 46
    2024-05-01 $255,200 (9.9%) $273,712 (1.4%) 0.00 52
    2024-06-01 $265,000 (17.8%) $297,581 (11.8%) 0.00 55
    2024-07-01 $257,425 (14.5%) $298,492 (15.1%) 0.00 66
    2024-08-01 $276,450 (31.6%) $315,600 (26.8%) 0.00 69
    2024-09-01 $248,900 (-4.2%) $301,913 (16.1%) 0.00 79
    2024-10-01 $243,650 (-7.3%) $294,749 (15.2%) 0.00 75
    2024-11-01 $259,900 (18.2%) $300,216 (24.6%) 0.00 70
    2024-12-01 $212,900 (-7.2%) $276,921 (14.3%) 0.00 77
    2025-01-01 $230,550 (15.3%) $278,413 (21.5%) 0.00 74
    2025-02-01 $244,550 (11.2%) $301,326 (23.7%) 0.00 65
    2025-03-01 $257,900 (11.0%) $300,860 (15.3%) 0.00 53
    Albert Lea's median listing price for 2025-03-01 was $257,900, a difference of $25,450 (11.0%) versus the prior year and $13,350 versus the prior month.

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

    Albert Lea's average listing price for 2025-03-01 was $300,860, a difference of $39,824 (15.3%) versus the prior year and $-466 versus the prior month.

    For the 2025-03-01 period, Albert Lea had 53 MLS listings, a difference of -12 listings (-18%) versus the prior month and 14 listings (36%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Albert Lea (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,080 sqft
    2018-02-01 0 days 2,151 sqft
    2018-03-01 0 days 2,112 sqft
    2018-04-01 0 days 2,247 sqft
    2018-05-01 0 days 2,278 sqft
    2018-06-01 0 days 2,472 sqft
    2018-07-01 0 days 2,280 sqft
    2018-08-01 0 days 2,237 sqft
    2018-09-01 0 days 2,275 sqft
    2018-10-01 0 days 2,248 sqft
    2018-11-01 0 days 2,222 sqft
    2018-12-01 0 days 2,240 sqft
    2019-01-01 0 days 1,632 sqft
    2019-02-01 0 days 1,554 sqft
    2019-03-01 0 days 1,665 sqft
    2019-04-01 0 days 1,800 sqft
    2019-05-01 0 days 1,786 sqft
    2019-06-01 0 days 1,871 sqft
    2019-07-01 0 days 1,919 sqft
    2019-08-01 0 days 1,738 sqft
    2019-09-01 0 days 1,793 sqft
    2019-10-01 0 days 1,769 sqft
    2019-11-01 0 days 1,776 sqft
    2019-12-01 0 days 1,652 sqft
    2020-01-01 0 days 1,643 sqft
    2020-02-01 0 days 1,652 sqft
    2020-03-01 0 days 1,832 sqft
    2020-04-01 0 days 1,827 sqft
    2020-05-01 0 days 1,826 sqft
    2020-06-01 0 days 1,833 sqft
    2020-07-01 0 days 1,805 sqft
    2020-08-01 0 days 1,808 sqft
    2020-09-01 0 days 1,803 sqft
    2020-10-01 0 days 1,776 sqft
    2020-11-01 0 days 1,604 sqft
    2020-12-01 0 days 1,541 sqft
    2021-01-01 0 days 1,540 sqft
    2021-02-01 0 days 1,512 sqft
    2021-03-01 0 days 1,569 sqft
    2021-04-01 0 days 1,736 sqft
    2021-05-01 0 days 1,717 sqft
    2021-06-01 0 days 1,685 sqft
    2021-07-01 0 days 1,700 sqft
    2021-08-01 0 days 1,468 sqft
    2021-09-01 0 days 1,352 sqft
    2021-10-01 0 days 1,488 sqft
    2021-11-01 0 days 1,588 sqft
    2021-12-01 0 days 1,486 sqft
    2022-01-01 0 days 1,578 sqft
    2022-02-01 0 days 2,112 sqft
    2022-03-01 0 days 1,957 sqft
    2022-04-01 0 days 2,100 sqft
    2022-05-01 0 days 1,785 sqft
    2022-06-01 0 days 1,842 sqft
    2022-07-01 0 days 1,830 sqft
    2022-08-01 0 days 1,750 sqft
    2022-09-01 0 days 1,745 sqft
    2022-10-01 0 days 1,876 sqft
    2022-11-01 0 days 1,924 sqft
    2022-12-01 0 days 1,835 sqft
    2023-01-01 0 days 1,793 sqft
    2023-02-01 0 days 1,757 sqft
    2023-03-01 0 days 1,870 sqft
    2023-04-01 0 days 1,781 sqft
    2023-05-01 0 days 1,801 sqft
    2023-06-01 0 days 1,658 sqft
    2023-07-01 0 days 1,704 sqft
    2023-08-01 0 days 1,669 sqft
    2023-09-01 0 days 1,802 sqft
    2023-10-01 0 days 1,780 sqft
    2023-11-01 0 days 1,659 sqft
    2023-12-01 0 days 1,701 sqft
    2024-01-01 0 days 1,624 sqft
    2024-02-01 0 days 1,638 sqft
    2024-03-01 0 days 1,785 sqft
    2024-04-01 0 days 1,808 sqft
    2024-05-01 0 days 1,753 sqft
    2024-06-01 0 days 1,808 sqft
    2024-07-01 0 days 1,904 sqft
    2024-08-01 0 days 1,920 sqft
    2024-09-01 0 days 1,879 sqft
    2024-10-01 0 days 1,799 sqft
    2024-11-01 0 days 1,892 sqft
    2024-12-01 0 days 1,757 sqft
    2025-01-01 0 days 1,779 sqft
    2025-02-01 0 days 1,799 sqft
    2025-03-01 0 days 1,744 sqft
    Albert Lea's median listing age (time on market) for 2025-03-01 was 0 days.

    Albert Lea's median square footage for active listings during the 2025-03-01 period was 1,744 sqft. One year prior, the average listing was 1,785 sqft.

    Albert Lea, MN Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 327 $45,565,000 $139,343
    Cash Out Refi 54 $7,370,000 $136,481
    Refi 31 $5,135,000 $165,645
    Other 30 $1,600,000 $53,333
    Home Improvement 23 $1,675,000 $72,826

    Albert Lea's most frequently cited loan purpose was Home Purchase, with 327 originations. The 2nd most popular reason was Cash Out Refi, with 54 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    6-7% 197 $30,455,000 $154,594
    7-8% 109 $17,115,000 $157,018
    Over 8% 55 $3,685,000 $67,000
    <2.5% 30 $550,000 $18,333
    5-6% 28 $4,960,000 $177,143
    4-5% 1 $175,000 $175,000

    During 2024, Albert Lea's most frequently originated rate bucket was 6-7%, with 197 originations.

    Loan Sizing (Albert Lea, MN MSA)

    Loan Size Originations Total Value Average Loan
    $100,000 or less 194 $9,510,000 $49,021
    $100k-200k 180 $26,310,000 $146,167
    $200k-400k 83 $21,545,000 $259,578
    $400k-600k 7 $3,365,000 $480,714
    $600k-1000k 1 $615,000 $615,000

    Albert Lea's loan sizing saw the bucket of loans from $100,000 or less with 194 originations, totaling $9,510,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 214 $35,180,000 $164,393
    Under 20% 74 $1,740,000 $23,514
    60-80% 73 $12,405,000 $169,932
    20-40% 37 $2,225,000 $60,135
    40-60% 31 $4,335,000 $139,839
    Over 100% 4 $850,000 $212,500

    Albert Lea's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 214 originations, totaling $35,180,000 in origination value.