Faribault - Northfield Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Faribault - Northfield averaged
6.59%
for the week of 2025-07-03, compared to the national average of
6.67% for the same period.
The average rate for the prior week (2025-06-26) was
6.69% and
one month ago for the week of 2025-05-29, the
average rate was 7.01%.
Faribault - Northfield's average rate one year ago was 7.08%.
For refis of the same type during the week of 2025-07-03, the average rate
was 6.77%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2025-07-03 | 6.67% |
| Faribault - Northfield 30 Year Fixed Rate | 2025-07-03 | 6.59% |
| Faribault - Northfield 30 Year Fixed Rate Refi | 2025-07-03 | 6.77% |
| Faribault - Northfield 15 Year Fixed Rate | 2025-07-03 | 5.9% |
| Faribault - Northfield 15 Year Fixed Rate Refi | 2025-07-03 | 6.3% |
| Faribault - Northfield 30 Year FHA | 2025-07-03 | 0.03% |
| Faribault - Northfield 30 Year FHA Refi | 2025-07-03 | 0% |
| Faribault - Northfield 30 Year USDA | 2025-07-03 | 0.1% |
| Faribault - Northfield 30 Year USDA Refi | 2025-07-03 | -0.1% |
| Faribault - Northfield 30 Year VA | 2025-07-03 | -0.2% |
| Faribault - Northfield 30 Year VA Refi | 2025-07-03 | 0% |
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.).
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.