Faribault - Northfield Mortgage Rates & Closing Costs

30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

30 Year Fixed Rate mortgages in Faribault - Northfield averaged 7.13% for the week of 2025-06-18, compared to the national average of 6.81% for the same period.

The average rate for the prior week (2025-06-12) was 7.06% and one month ago for the week of 2025-05-15, the average rate was 6.83%.

Faribault - Northfield's average rate one year ago was 7.27%.

For refis of the same type during the week of 2025-06-18, the average rate was 6.91%.

Loan Type Date Rate
US 30 Year Fixed Rate 2025-06-18 6.81%
Faribault - Northfield 30 Year Fixed Rate 2025-06-18 7.13%
Faribault - Northfield 30 Year Fixed Rate Refi 2025-06-18 6.91%
Faribault - Northfield 15 Year Fixed Rate 2025-06-18 6.16%
Faribault - Northfield 15 Year Fixed Rate Refi 2025-06-18 6.06%
Faribault - Northfield 30 Year FHA 2025-06-18 0.13%
Faribault - Northfield 30 Year FHA Refi 2025-06-18 -0.1%
Faribault - Northfield 30 Year USDA 2025-06-18 -0.2%
Faribault - Northfield 30 Year USDA Refi 2025-06-18 0%
Faribault - Northfield 30 Year VA 2025-06-18 0.2%
Faribault - Northfield 30 Year VA Refi 2025-06-18 -0.2%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Faribault-Northfield, MN.

Faribault - Northfield 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 Faribault-Northfield, 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
UNITED WHOLESALE MORTGAGE, LLC 29 6.94% $7,085
CROSSCOUNTRY MORTGAGE, LLC 26 6.87% $7,040
Prosperity Home Mortgage, LLC 22 7.15% $4,813
GUARANTEED RATE, INC. 21 6.57% $5,482
Bell Bank 20 6.78% $5,567
Merchants Bank 19 6.54% $4,694
Wells Fargo Bank 17 6.63% $5,369
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 17 7.04% $5,000
QUICKEN LOANS, LLC 16 6.73% $6,325
Frandsen Bank & Trust 14 6.87% $4,630
American Mortgage & Equity Consultants, Inc. 12 6.52% $8,383
TRUSTONE FINANCIAL FEDERAL CREDIT UNION 10 6.33% $4,447
Royal Credit Union 9 6.94% $6,403
U.S. Bank 9 7.17% $3,830
WINGS FINANCIAL 9 6.15% $3,630
BROKER SOLUTIONS, INC. 8 6.70% $6,262
Alerus Financial 7 6.89% $3,878
AFFINITY PLUS 7 6.21% $5,182
LOANDEPOT.COM, LLC 7 6.82% $7,646
PENNYMAC LOAN SERVICES, LLC 6 6.73% $6,451
Tradition Mortgage, LLC 5 7.05% $4,196
PLAZA HOME MORTGAGE, INC. 5 6.40% $7,406
BAY EQUITY LLC 4 6.81% $6,270
CARDINAL FINANCIAL 4 7.38% $5,349
COMPEER FINANCIAL, FLCA 4 7.63% $5,402
EVERETT FINANCIAL, INC. 4 7.41% $7,593
Granite Community Bank 4 6.47% $6,686
GUARANTEED RATE AFFINITY, LLC 4 6.99% $6,819
NEWREZ LLC 4 7.06% $10,260
MOVEMENT MORTGAGE, LLC 3 6.75% $5,145
Cambria Financial Group, LLC 3 6.83% $4,969
Florida Capital Bank 3 6.88% $7,725
Bremer Bank 3 6.92% $7,244
Summit Mortgage Corporation 3 7.25% $5,487
ZILLOW HOME LOANS, LLC 3 6.25% $6,296
Minnwest Bank 3 5.88% $4,958
Think Mutual Bank 3 6.46% $4,879
TOWNE MORTGAGE COMPANY 3 6.96% $3,726
AMERICAN PACIFIC MORTGAGE CORPORATION 3 6.42% $7,772
VERIDIAN CREDIT UNION 2 6.50% $2,599
Discover Bank 2 6.87% $0
HOMESIDE FINANCIAL, LLC 2 6.44% $4,528
Park State Bank 2 6.95% $5,349
PHH Mortgage Corporation 2 6.50% $13,245
First Western Bank & Trust 2 6.75% $7,129
IOWA BANKERS MORTGAGE CORPORATION 2 6.56% $5,761
JPMorgan Chase Bank 2 7.06% $7,833
Citizens Bank 2 6.44% $5,820
Sierra Pacific Mortgage Company, Inc. 2 6.63% $8,552
CMG MORTGAGE, INC. 2 6.63% $6,755
Stifel Bank and Trust 2 6.25% $3,244
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 6.31% $5,734
Flagstar Bank, FSB 2 7.27% $2,536
NBKC BANK 2 6.69% $3,325
First National Bank of Omaha 1 7.00% $2,926
First Bank & Trust 1 6.75% $7,317
Flanagan State Bank 1 6.63% $2,860
Citizens Community Federal 1 6.63% $3,008
HOMEXPRESS MORTGAGE CORP. 1 9.63% $5,751
IDEAL 1 5.50% $6,089
CHURCHILL MORTGAGE CORPORATION 1 7.13% $6,524
Morgan Stanley Private Bank 1 6.85% $3,075
Mr. Cooper ( Nationstar Mortgage ) 1 7.49% $7,845
MUTUAL OF OMAHA MORTGAGE, INC. 1 6.63% $3,904
NexBank 1 7.00% $2,626
Century Mortgage Company DBA Century Lending Company 1 6.99% $5,011
PREMIER MORTGAGE RESOURCES, L.L.C. 1 7.13% $4,048
BOKF 1 7.13% $4,660
Bank of England 1 7.13% $4,247
SFMC, LP 1 7.50% $6,480
SIRVA MORTGAGE, INC. 1 6.50% $0
SWBC MORTGAGE CORPORATION 1 7.63% $5,337
Associated Bank 1 7.75% $2,927
ARC HOME LLC 1 7.50% $7,723
UNION HOME MORTGAGE CORP. 1 6.88% $10,059
ANGEL OAK MORTGAGE SOLUTIONS LLC 1 9.25% $6,620
AMERISAVE MORTGAGE CORPORATION 1 6.50% $8,832
V.I.P. MORTGAGE, INC. 1 6.63% $4,955
Waterstone Mortgage Corporation 1 7.38% $4,528
CORTRUST MORTGAGE, INC. 1 6.00% $5,189

Faribault - Northfield Average Closing Costs & Other Stats

Faribault-Northfield, MN's 80 lenders originated 1,162 loans during 2024. The total origination value was $266,720,000, with an average loan value of $229,535.

Faribault - Northfield's average closing costs are $5,224.

The top Faribault - Northfield lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 29 loans originated. Their average total fees are $7,085, which is $45 higher than the next largest lender, CROSSCOUNTRY MORTGAGE, LLC.

The lowest fee Faribault - Northfield lenders (with over 10 loans originated) are TRUSTONE FINANCIAL FEDERAL CREDIT UNION ($4,447), Frandsen Bank & Trust ($4,630), Merchants Bank ($4,694), Prosperity Home Mortgage, LLC ($4,813) and FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($5,000).

The lowest rate Faribault - Northfield lenders (with over 10 loans originated) are TRUSTONE FINANCIAL FEDERAL CREDIT UNION (6.33%), American Mortgage & Equity Consultants, Inc. (6.52%), Merchants Bank (6.54%), GUARANTEED RATE, INC. (6.57%) and Wells Fargo Bank (6.63%).

Faribault-Northfield, 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
UNITED WHOLESALE MORTGAGE, LLC $9,215,000 $14,390,000 56.2% 5.4%
CROSSCOUNTRY MORTGAGE, LLC $11,175,000 $13,835,000 23.8% 5.2%
U.S. Bank $3,175,000 $12,805,000 303.3% 4.8%
GUARANTEED RATE, INC. $11,395,000 $11,145,000 -2.2% 4.2%
Merchants Bank $10,725,000 $10,345,000 -3.5% 3.9%
Prosperity Home Mortgage, LLC $9,080,000 $10,240,000 12.8% 3.8%
QUICKEN LOANS, LLC $7,680,000 $9,930,000 29.3% 3.7%
The State Bank of Faribault $8,365,000 $9,700,000 16.0% 3.6%
Wells Fargo Bank $10,060,000 $8,920,000 -11.3% 3.3%
Bell Bank $13,705,000 $8,685,000 -36.6% 3.3%
Frandsen Bank & Trust $8,950,000 $7,430,000 -17.0% 2.8%
FAIRWAY INDEPENDENT MORTGAGE CORPORATION $5,510,000 $7,305,000 32.6% 2.7%
American Mortgage & Equity Consultants, Inc. $6,315,000 $6,780,000 7.4% 2.5%
AFFINITY PLUS $5,890,000 $6,430,000 9.2% 2.4%
TRUSTONE FINANCIAL FEDERAL CREDIT UNION $4,785,000 $5,215,000 9.0% 2.0%
LOANDEPOT.COM, LLC $4,555,000 $5,080,000 11.5% 1.9%
WINGS FINANCIAL $5,165,000 $4,675,000 -9.5% 1.8%
PENNYMAC LOAN SERVICES, LLC $5,420,000 $4,545,000 -16.1% 1.7%
COMPEER FINANCIAL, FLCA $3,765,000 $4,170,000 10.8% 1.6%
BROKER SOLUTIONS, INC. $2,285,000 $3,890,000 70.2% 1.5%
Mortgage Research Center, LLC $2,670,000 $3,770,000 41.2% 1.4%
Tradition Mortgage, LLC $1,280,000 $3,665,000 186.3% 1.4%
Castle Rock Bank $785,000 $3,165,000 303.2% 1.2%
Community Resource Bank $3,645,000 $3,085,000 -15.4% 1.2%
Royal Credit Union $1,860,000 $3,055,000 64.2% 1.1%
Granite Community Bank $2,875,000 n/a 1.1%
GUARANTEED RATE AFFINITY, LLC $2,355,000 $2,370,000 0.6% 0.9%
Alerus Financial $400,000 $2,120,000 430.0% 0.8%
NEWREZ LLC $1,555,000 $2,055,000 32.2% 0.8%
Community Bank Mankato $170,000 $2,020,000 1,088.2% 0.8%
Minnwest Bank $2,235,000 $1,895,000 -15.2% 0.7%
EVERETT FINANCIAL, INC. $1,240,000 $1,835,000 48.0% 0.7%
FREEDOM MORTGAGE CORPORATION $725,000 $1,750,000 141.4% 0.7%
Think Mutual Bank $2,650,000 $1,750,000 -34.0% 0.7%
BAY EQUITY LLC $2,405,000 $1,700,000 -29.3% 0.6%
HOMESIDE FINANCIAL, LLC $1,535,000 n/a 0.6%
PLAZA HOME MORTGAGE, INC. $1,060,000 $1,530,000 44.3% 0.6%
CARDINAL FINANCIAL $1,230,000 $1,525,000 24.0% 0.6%
Flagstar Bank, FSB $1,925,000 $1,435,000 -25.5% 0.5%
Summit Mortgage Corporation $1,725,000 $1,430,000 -17.1% 0.5%
LAKEVIEW LOAN SERVICING, LLC $195,000 $1,350,000 592.3% 0.5%
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC $1,125,000 $1,305,000 16.0% 0.5%
Bremer Bank $2,225,000 $1,225,000 -44.9% 0.5%
The First National Bank of Le Center $1,510,000 $1,185,000 -21.5% 0.4%
Cambria Financial Group, LLC $985,000 $1,095,000 11.2% 0.4%
CMG MORTGAGE, INC. $1,565,000 $1,080,000 -31.0% 0.4%
Park State Bank $680,000 $1,055,000 55.1% 0.4%
TOWNE MORTGAGE COMPANY $1,665,000 $1,050,000 -36.9% 0.4%
NAVY FEDERAL CREDIT UNION $210,000 $1,045,000 397.6% 0.4%
First Western Bank & Trust $1,025,000 n/a 0.4%
TRIAD FINANCIAL SERVICES, INC. $1,020,000 n/a 0.4%
MASON MCDUFFIE MORTGAGE CORPORATION $950,000 n/a 0.4%
ZILLOW HOME LOANS, LLC $600,000 $935,000 55.8% 0.4%
Stifel Bank and Trust $920,000 n/a 0.3%
JPMorgan Chase Bank $540,000 $895,000 65.7% 0.3%
Discover Bank $465,000 $885,000 90.3% 0.3%
Florida Capital Bank $855,000 n/a 0.3%
The Huntington National Bank $850,000 $835,000 -1.8% 0.3%
First Bank & Trust $1,110,000 $810,000 -27.0% 0.3%
NBKC BANK $750,000 n/a 0.3%
Citizens Bank $410,000 $745,000 81.7% 0.3%
HOMEXPRESS MORTGAGE CORP. $745,000 n/a 0.3%
Lakeview Bank $380,000 $730,000 92.1% 0.3%
AMERICAN PACIFIC MORTGAGE CORPORATION $945,000 $725,000 -23.3% 0.3%
MUTUAL OF OMAHA MORTGAGE, INC. $625,000 $725,000 16.0% 0.3%
PHH Mortgage Corporation $670,000 n/a 0.3%
Century Mortgage Company DBA Century Lending Company $290,000 $660,000 127.6% 0.2%
MOVEMENT MORTGAGE, LLC $505,000 $655,000 29.7% 0.2%
Mr. Cooper ( Nationstar Mortgage ) $1,215,000 $635,000 -47.7% 0.2%
Carrington Mortgage Services, LLC $145,000 $590,000 306.9% 0.2%
V.I.P. MORTGAGE, INC. $590,000 n/a 0.2%
Minnesota Valley Federal Credit Union $585,000 n/a 0.2%
Associated Bank $380,000 $565,000 48.7% 0.2%
Bridgewater Bank $565,000 n/a 0.2%
LENDINGHOME FUNDING CORPORATION $530,000 n/a 0.2%
Midwest Bank $525,000 n/a 0.2%
UNION HOME MORTGAGE CORP. $520,000 n/a 0.2%
AMERISAVE MORTGAGE CORPORATION $390,000 $500,000 28.2% 0.2%
Sierra Pacific Mortgage Company, Inc. $480,000 $500,000 4.2% 0.2%
First Federal Bank $525,000 $475,000 -9.5% 0.2%
IOWA BANKERS MORTGAGE CORPORATION $470,000 n/a 0.2%
ANGEL OAK MORTGAGE SOLUTIONS LLC $445,000 n/a 0.2%
Armed Forces Bank $425,000 n/a 0.2%
Baxter Credit Union $55,000 $425,000 672.7% 0.2%
BMO Harris Bank $105,000 $425,000 304.8% 0.2%
PLANET HOME LENDING, LLC $425,000 n/a 0.2%
NEW DAY FINANCIAL, LLC $640,000 $415,000 -35.2% 0.2%
Foresight Bank $405,000 n/a 0.2%
PREMIER MORTGAGE RESOURCES, L.L.C. $405,000 $405,000 0.0% 0.2%
VERIDIAN CREDIT UNION $250,000 $395,000 58.0% 0.1%
Waterstone Mortgage Corporation $365,000 $375,000 2.7% 0.1%
Citizens Community Federal $365,000 n/a 0.1%
SPIRE Credit Union $55,000 $365,000 563.6% 0.1%
ALTRA $315,000 $355,000 12.7% 0.1%
SIRVA MORTGAGE, INC. $355,000 n/a 0.1%
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION $345,000 n/a 0.1%
Bank of America $310,000 $335,000 8.1% 0.1%
WESTconsin Credit Union $335,000 n/a 0.1%
ARK-LA-TEX FINANCIAL SERVICES, LLC. $225,000 $325,000 44.4% 0.1%
Servion, Inc. $215,000 $325,000 51.2% 0.1%
SUN WEST MORTGAGE COMPANY, INC. $325,000 n/a 0.1%
IDEAL $315,000 $315,000 0.0% 0.1%
SOUTHPOINT FINANCIAL $345,000 $315,000 -8.7% 0.1%
Figure Lending LLC $370,000 $310,000 -16.2% 0.1%
Bank of England $205,000 $305,000 48.8% 0.1%
Cornerstone State Bank $305,000 n/a 0.1%
Coulee Bank $255,000 $305,000 19.6% 0.1%
First State Bank of Le Center $295,000 n/a 0.1%
BankVista $275,000 $275,000 0.0% 0.1%
GENISYS $270,000 n/a 0.1%
Barrington Bank & Trust Company, N.A. $530,000 $265,000 -50.0% 0.1%
Loan Simple, Inc. $260,000 n/a 0.1%
NexBank $255,000 n/a 0.1%
USAA Federal Savings Bank $780,000 $255,000 -67.3% 0.1%
AMERICAN FINANCIAL RESOURCES, INC. $245,000 n/a 0.1%
AMERICAN FINANCING CORPORATION $245,000 n/a 0.1%
CHURCHILL MORTGAGE CORPORATION $265,000 $245,000 -7.5% 0.1%
MidWestOne Bank $105,000 $245,000 133.3% 0.1%
AMERICAN FINANCIAL NETWORK, INC. $235,000 n/a 0.1%
Heartland Credit Union $195,000 $230,000 17.9% 0.1%
Highland Bank $160,000 $230,000 43.8% 0.1%
SFMC, LP $230,000 n/a 0.1%
CORTRUST MORTGAGE, INC. $225,000 n/a 0.1%
Flanagan State Bank $225,000 n/a 0.1%
First National Bank of Omaha $215,000 n/a 0.1%
21ST MORTGAGE CORPORATION $205,000 n/a 0.1%
First National Bank Minnesota $510,000 $205,000 -59.8% 0.1%
Morgan Stanley Private Bank $205,000 n/a 0.1%
PREMIER LENDING, INC. $205,000 n/a 0.1%
St. Paul Federal Credit Union $205,000 n/a 0.1%
BOKF $195,000 n/a 0.1%
Deerwood Bank $170,000 $195,000 14.7% 0.1%
RiverWood Bank $195,000 n/a 0.1%
TOP FLITE FINANCIAL, INC. $195,000 n/a 0.1%
VILLAGE CAPITAL MORTGAGE $175,000 n/a 0.1%
Associated Healthcare Credit Union $130,000 $160,000 23.1% 0.1%
ARC HOME LLC $155,000 n/a 0.1%
PNC Bank $85,000 $145,000 70.6% 0.1%
OCMBC, INC. $125,000 n/a 0.0%
SWBC MORTGAGE CORPORATION $235,000 $125,000 -46.8% 0.0%
Coastal Community Bank $125,000 $115,000 -8.0% 0.0%
ROUNDPOINT MORTGAGE SERVICING CORPORATION $115,000 n/a 0.0%
ALLIANT CREDIT UNION $105,000 n/a 0.0%
Manufacturers Bank & Trust Company $105,000 n/a 0.0%
ON Q FINANCIAL, INC. $85,000 n/a 0.0%
University of Wisconsin Credit Union $70,000 n/a 0.0%
CENTRAL MINNESOTA Credit Union $65,000 n/a 0.0%
Connexus Credit Union $55,000 n/a 0.0%
THRIVENT Federal Credit Union $45,000 n/a 0.0%
SMW Financial Credit Union $35,000 n/a 0.0%

Faribault - Northfield's top lender by overall market share is UNITED WHOLESALE MORTGAGE, LLC, with 5.4% market share. In second place, with 5.2%, is CROSSCOUNTRY MORTGAGE, LLC, having originated $13,835,000 in loans. In third place, with 4.8%, is U.S. Bank, having originated $12,805,000 in loans. In fourth place, with 4.2%, is GUARANTEED RATE, INC., having originated $11,145,000 in loans. In fifth place, with 3.9%, is Merchants Bank, having originated $10,345,000 in loans.

Faribault-Northfield, MN Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 720 $204,100,000 $283,472
Refi 121 $26,515,000 $219,132
Home Improvement 110 $7,030,000 $63,909
Other 106 $8,120,000 $76,604
Cash Out Refi 105 $20,955,000 $199,571

Faribault - Northfield's most frequently cited loan purpose was Home Purchase, with 720 originations. The 2nd most popular reason was Refi, with 121 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
6-7% 430 $129,080,000 $300,186
7-8% 262 $56,190,000 $214,466
Over 8% 159 $13,175,000 $82,862
5-6% 122 $33,840,000 $277,377
<2.5% 43 $1,145,000 $26,628
4-5% 12 $2,270,000 $189,167
2.5-3% 2 $310,000 $155,000

During 2024, Faribault - Northfield's most frequently originated rate bucket was 6-7%, with 430 originations.

Loan Sizing (Faribault-Northfield, MN MSA)

Loan Size Originations Total Value Average Loan
$200k-400k 493 $139,775,000 $283,519
$100,000 or less 334 $15,870,000 $47,515
$100k-200k 199 $30,395,000 $152,739
$400k-600k 107 $50,035,000 $467,617
$600k-1000k 25 $17,375,000 $695,000
$Over $1MM 4 $13,270,000 $3,317,500

Faribault - Northfield's loan sizing saw the bucket of loans from $200k-400k with 493 originations, totaling $139,775,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 403 $124,435,000 $308,772
Under 20% 232 $9,570,000 $41,250
60-80% 190 $65,790,000 $346,263
20-40% 106 $11,830,000 $111,604
40-60% 64 $15,800,000 $246,875
Over 100% 14 $4,850,000 $346,429

Faribault - Northfield's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 403 originations, totaling $124,435,000 in origination value.