MANKATO Mortgage Rates & Closing Costs

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

    30 Year Fixed Rate mortgages in Mankato averaged 6.4% for the week of 2023-05-25, compared to the national average of 6.57% for the same period.

    The average rate for the prior week (2023-05-18) was 5.92% and one month ago for the week of 2023-04-20, the average rate was 6.32%.

    Mankato's average rate one year ago was 5.08%.

    For refis of the same type during the week of 2023-05-25, the average rate was 5.81%.

    Loan Type Date Rate
    US 30 Year Fixed Rate 2023-05-25 6.57%
    Mankato 30 Year Fixed Rate 2023-05-25 6.4%
    Mankato 30 Year Fixed Rate Refi 2023-05-25 5.81%
    Mankato 15 Year Fixed Rate 2023-05-25 5.87%
    Mankato 15 Year Fixed Rate Refi 2023-05-25 5.97%
    Mankato 30 Year FHA 2023-05-25 6.01%
    Mankato 30 Year FHA Refi 2023-05-25 6.41%
    Mankato 30 Year USDA 2023-05-25 6.53%
    Mankato 30 Year USDA Refi 2023-05-25 6.63%
    Mankato 30 Year VA 2023-05-25 6.06%
    Mankato 30 Year VA Refi 2023-05-25 6.51%
    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within MANKATO, MN.

    MANKATO 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 MANKATO, 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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 163 5.08% $5,353
    CROSSCOUNTRY MORTGAGE, LLC 84 5.13% $5,732
    Wells Fargo Bank 75 4.71% $3,831
    U.S. Bank 41 4.46% $3,811
    Frandsen Bank & Trust 36 5.09% $4,022
    Bremer Bank 33 5.21% $6,170
    QUICKEN LOANS, LLC 24 4.61% $6,677
    IOWA BANKERS MORTGAGE CORPORATION 21 4.83% $4,348
    Citizens Community Federal 17 4.95% $4,706
    BROKER SOLUTIONS, INC. 15 5.23% $5,628
    LOANDEPOT.COM, LLC 15 4.75% $4,918
    Plains Commerce Bank 15 4.62% $6,119
    PLAZA HOME MORTGAGE, INC. 14 5.03% $7,437
    BankVista 14 5.00% $4,461
    COMPEER FINANCIAL, FLCA 13 5.63% $4,101
    HomeTown Bank 12 5.29% $4,199
    The Huntington National Bank 12 3.79% $5,549
    Merchants Bank 12 4.70% $4,989
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 11 5.25% $3,867
    AFFINITY PLUS 11 4.86% $3,720
    Bell Bank 8 4.62% $5,190
    CRESCENT MORTGAGE COMPANY 8 4.56% $5,863
    Prosperity Home Mortgage, LLC 8 5.25% $2,991
    GUARANTEED RATE, INC. 7 5.11% $5,094
    Cornerstone State Bank 7 5.19% $3,748
    Cambria Financial Group, LLC 7 4.68% $5,320
    PENNYMAC LOAN SERVICES, LLC 7 4.23% $4,804
    Flagstar Bank, FSB 6 4.54% $5,702
    Goldwater Bank, N.A. 5 5.33% $6,480
    AXIA FINANCIAL, LLC 5 5.00% $5,646
    NEWREZ LLC 5 3.93% $4,614
    Tradition Mortgage, LLC 5 5.05% $3,330
    Alliance Bank 5 5.03% $3,887
    Home Federal Savings Bank 5 5.35% $4,002
    WINGS FINANCIAL 4 4.66% $3,214
    Minnwest Bank 3 4.96% $5,531
    MAYO EMPLOYEES FEDERAL CREDIT UNION 3 4.17% $6,060
    AMERISAVE MORTGAGE CORPORATION 3 3.96% $8,933
    Citizens Bank Minnesota 3 4.50% $2,229
    CARDINAL FINANCIAL 3 6.21% $6,726
    MOVEMENT MORTGAGE, LLC 3 6.13% $4,448
    Gate City Bank 3 4.13% $5,543
    LAKEVIEW LOAN SERVICING, LLC 2 3.94% $2,667
    Bank Midwest 2 4.44% $3,711
    HOMEBRIDGE FINANCIAL SERVICES, INC. 2 4.88% $6,485
    Carrington Mortgage Services, LLC 2 5.56% $5,261
    HOME POINT FINANCIAL CORPORATION 2 5.25% $5,488
    Lend Smart Mortgage, LLC 2 4.38% $7,411
    Servion, Inc. 2 6.50% $4,256
    BETTER MORTGAGE CORPORATION 2 3.44% $5,806
    American Mortgage & Equity Consultants, Inc. 2 6.19% $4,690
    First Federal Bank 2 4.06% $4,763
    PRIMELENDING, A PLAINSCAPITAL COMPANY 2 5.31% $3,443
    BAY EQUITY LLC 2 5.50% $5,832
    ALTRA 2 4.25% $2,494
    North American Savings Bank, F.S.B. 2 6.25% $2,949
    JPMorgan Chase Bank 2 4.69% $535
    TRUSTONE FINANCIAL FEDERAL CREDIT UNION 2 4.69% $3,972
    Mr. Cooper ( Nationstar Mortgage ) 2 4.19% $6,810
    Wyndham Capital Mortgage, Inc. 1 5.50% $3,091
    Alerus Financial 1 6.13% $3,056
    American Bank Center 1 5.25% $3,846
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 6.63% $9,630
    Baxter Credit Union 1 3.00% $3,820
    BMO Harris Bank 1 4.38% $7,318
    BNC National Bank 1 5.63% $2,815
    CALIBER HOME LOANS, INC. 1 5.38% $2,901
    CHERRY CREEK MORTGAGE, LLC 1 4.88% $685
    Chicago Mortgage Solutions LLC 1 4.18% $915
    Colonial Savings, F.A. 1 4.88% $6,305
    Deere Employees Credit Union 1 2.75% $3,220
    Discover Bank 1 4.99% $0
    EVERETT FINANCIAL, INC. 1 3.25% $2,216
    First Dakota National Bank 1 5.88% $5,589
    First Horizon Bank 1 5.00% $3,578
    First United Bank and Trust Company 1 6.13% $16,633
    First Western Trust Bank 1 5.00% $4,885
    Florida Capital Bank 1 3.88% $5,550
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 5.99% $9,494
    HANCOCK MORTGAGE PARTNERS, LLC 1 5.88% $7,250
    IDEAL 1 3.38% $7,608
    KeyBank 1 4.25% $2,875
    LADERA LENDING, INC. 1 3.88% $10,511
    Lincoln Savings Bank 1 5.13% $3,427
    MASON MCDUFFIE MORTGAGE CORPORATION 1 6.50% $5,585
    Merchants Bank of Indiana 1 2.63% $7,312
    MILEND, INC. 1 4.38% $6,301
    Morgan Stanley Private Bank 1 2.80% $3,595
    Mortgage Research Center, LLC 1 5.25% $13,085
    Mortgages Unlimited Inc. 1 4.13% $13,114
    M&T Bank 1 3.63% $2,149
    NBH Bank 1 5.13% $3,962
    NBKC BANK 1 4.45% $2,789
    OCMBC, INC. 1 0.00% $0
    Old National Bank 1 3.50% $2,645
    PREMIA MORTGAGE, LLC 1 5.99% $0
    RESULTS MORTGAGE, LLC 1 5.25% $8,005
    Royal Credit Union 1 5.88% $5,160
    SIRVA MORTGAGE, INC. 1 5.88% $1,680
    SPIRE Credit Union 1 3.38% $3,498
    Stifel Bank and Trust 1 4.75% $2,355
    SUCCESS MORTGAGE PARTNERS, INC. 1 3.75% $2,447
    THRIVENT Federal Credit Union 1 2.63% $3,190
    TOPLINE FEDERAL CREDIT UNION 1 5.25% $4,610
    Truist 1 2.88% $5,325
    UMB Bank 1 7.13% $4,353
    University of Wisconsin Credit Union 1 3.38% $3,123
    Academy Bank 1 4.50% $4,259

    MANKATO Average Closing Costs & Other Stats

    MANKATO, MN's 108 lenders originated 2,019 loans during 2022. The total origination value was $545,645,000, with an average loan value of $270,255.

    MANKATO's average closing costs are $4,318.

    The top MANKATO lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 163 loans originated. Their average total fees are $5,353, which is $379 lower than the next largest lender, CROSSCOUNTRY MORTGAGE, LLC.

    The lowest fee MANKATO lenders (with over 10 loans originated) are AFFINITY PLUS ($3,720), U.S. Bank ($3,811), Wells Fargo Bank ($3,831), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($3,867) and Frandsen Bank & Trust ($4,022).

    The lowest rate MANKATO lenders (with over 10 loans originated) are The Huntington National Bank (3.79%), U.S. Bank (4.46%), QUICKEN LOANS, LLC (4.61%), Plains Commerce Bank (4.62%) and Merchants Bank (4.70%).

    MANKATO, 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 2021 Loan Value 2022 Loan Value % Change 2022 Market Share
    Community Bank Mankato $63,110,000 $69,775,000 10.6% 12.8%
    UNITED WHOLESALE MORTGAGE, LLC $113,260,000 $66,440,000 -41.3% 12.2%
    CENTRAL MINNESOTA Credit Union $810,000 $41,615,000 5,037.7% 7.6%
    CROSSCOUNTRY MORTGAGE, LLC $44,505,000 $33,020,000 -25.8% 6.1%
    Bremer Bank $34,570,000 $25,715,000 -25.6% 4.7%
    Minnesota Valley Federal Credit Union $50,510,000 $24,320,000 -51.9% 4.5%
    Wells Fargo Bank $82,845,000 $22,465,000 -72.9% 4.1%
    U.S. Bank $37,980,000 $20,915,000 -44.9% 3.8%
    Frandsen Bank & Trust $19,575,000 $15,520,000 -20.7% 2.8%
    Merchants Bank $7,800,000 $15,040,000 92.8% 2.8%
    QUICKEN LOANS, LLC $35,110,000 $14,060,000 -60.0% 2.6%
    MinnStar Bank N.A. $8,470,000 n/a 1.6%
    COMPEER FINANCIAL, FLCA $13,640,000 $8,240,000 -39.6% 1.5%
    Plains Commerce Bank $20,130,000 $7,080,000 -64.8% 1.3%
    IOWA BANKERS MORTGAGE CORPORATION $11,385,000 $7,060,000 -38.0% 1.3%
    The Huntington National Bank $1,115,000 $6,620,000 493.7% 1.2%
    Citizens Community Federal $20,665,000 $6,100,000 -70.5% 1.1%
    PLAZA HOME MORTGAGE, INC. $13,085,000 $6,065,000 -53.6% 1.1%
    SOUTHPOINT FINANCIAL $22,480,000 $5,945,000 -73.6% 1.1%
    AFFINITY PLUS $18,095,000 $5,775,000 -68.1% 1.1%
    Mortgage Research Center, LLC $6,530,000 $5,430,000 -16.8% 1.0%
    BROKER SOLUTIONS, INC. $4,695,000 $4,585,000 -2.3% 0.8%
    LOANDEPOT.COM, LLC $5,690,000 $4,560,000 -19.9% 0.8%
    BankVista $11,310,000 $4,390,000 -61.2% 0.8%
    Old National Bank $3,185,000 $3,945,000 23.9% 0.7%
    Great Southern Bank $265,000 $3,825,000 1,343.4% 0.7%
    HomeTown Bank $9,280,000 $3,490,000 -62.4% 0.6%
    Cornerstone State Bank $2,745,000 $3,390,000 23.5% 0.6%
    Citizens Bank Minnesota $8,815,000 $3,355,000 -61.9% 0.6%
    Prosperity Home Mortgage, LLC $5,360,000 $3,125,000 -41.7% 0.6%
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION $7,945,000 $3,060,000 -61.5% 0.6%
    CRESCENT MORTGAGE COMPANY $7,225,000 $2,965,000 -59.0% 0.5%
    Flagstar Bank, FSB $4,085,000 $2,965,000 -27.4% 0.5%
    PENNYMAC LOAN SERVICES, LLC $5,325,000 $2,735,000 -48.6% 0.5%
    Cambria Financial Group, LLC $2,975,000 $2,575,000 -13.4% 0.5%
    GUARANTEED RATE, INC. $3,270,000 $2,565,000 -21.6% 0.5%
    Bell Bank $5,655,000 $2,550,000 -54.9% 0.5%
    Security Savings Bank $2,255,000 n/a 0.4%
    Carrington Mortgage Services, LLC $3,110,000 $2,165,000 -30.4% 0.4%
    West Bank $2,005,000 n/a 0.4%
    Bridgewater Bank $4,745,000 $1,915,000 -59.6% 0.4%
    AMERISAVE MORTGAGE CORPORATION $2,345,000 $1,905,000 -18.8% 0.3%
    NAVY FEDERAL CREDIT UNION $530,000 $1,895,000 257.5% 0.3%
    NEWREZ LLC $3,830,000 $1,870,000 -51.2% 0.3%
    MAYO EMPLOYEES FEDERAL CREDIT UNION $165,000 $1,765,000 969.7% 0.3%
    Home Federal Savings Bank $2,435,000 $1,725,000 -29.2% 0.3%
    Alliance Bank $5,740,000 $1,675,000 -70.8% 0.3%
    Mr. Cooper ( Nationstar Mortgage ) $2,850,000 $1,600,000 -43.9% 0.3%
    MOVEMENT MORTGAGE, LLC $1,225,000 $1,440,000 17.6% 0.3%
    The First National Bank of Le Center $570,000 $1,420,000 149.1% 0.3%
    WINGS FINANCIAL $905,000 $1,385,000 53.0% 0.3%
    Goldwater Bank, N.A. $755,000 $1,345,000 78.1% 0.2%
    Tradition Mortgage, LLC $1,465,000 $1,285,000 -12.3% 0.2%
    FREEDOM MORTGAGE CORPORATION $14,230,000 $1,215,000 -91.5% 0.2%
    BAY EQUITY LLC $2,055,000 $1,200,000 -41.6% 0.2%
    Think Mutual Bank $490,000 $1,185,000 141.8% 0.2%
    AXIA FINANCIAL, LLC $2,015,000 $1,140,000 -43.4% 0.2%
    Gate City Bank $1,130,000 n/a 0.2%
    JPMorgan Chase Bank $2,750,000 $1,060,000 -61.5% 0.2%
    Lend Smart Mortgage, LLC $1,605,000 $1,035,000 -35.5% 0.2%
    LAKEVIEW LOAN SERVICING, LLC $1,510,000 $1,005,000 -33.4% 0.2%
    BMO Harris Bank $430,000 $995,000 131.4% 0.2%
    CARDINAL FINANCIAL COMPANY, LIMITED PARTNERSHIP $2,245,000 $990,000 -55.9% 0.2%
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC $155,000 $915,000 490.3% 0.2%
    Academy Bank $885,000 n/a 0.2%
    HOME POINT FINANCIAL CORPORATION $1,230,000 $860,000 -30.1% 0.2%
    TRUSTONE FINANCIAL FEDERAL CREDIT UNION $970,000 $850,000 -12.4% 0.2%
    Minnwest Bank $485,000 $825,000 70.1% 0.2%
    CHERRY CREEK MORTGAGE, LLC $810,000 n/a 0.1%
    PRIMELENDING, A PLAINSCAPITAL COMPANY $785,000 $805,000 2.5% 0.1%
    Chicago Mortgage Solutions LLC $560,000 $785,000 40.2% 0.1%
    ALTRA $855,000 $740,000 -13.5% 0.1%
    USAA Federal Savings Bank $1,290,000 $720,000 -44.2% 0.1%
    Bank Midwest $4,490,000 $675,000 -85.0% 0.1%
    THRIVENT Federal Credit Union $250,000 $645,000 158.0% 0.1%
    GUARANTEED RATE AFFINITY, LLC $540,000 $640,000 18.5% 0.1%
    RESULTS MORTGAGE, LLC $230,000 $640,000 178.3% 0.1%
    First Federal Bank $2,430,000 $630,000 -74.1% 0.1%
    TOPLINE FEDERAL CREDIT UNION $615,000 n/a 0.1%
    BETTER MORTGAGE CORPORATION $2,760,000 $610,000 -77.9% 0.1%
    SPIRE Credit Union $575,000 n/a 0.1%
    Royal Credit Union $1,005,000 $560,000 -44.3% 0.1%
    Servion, Inc. $615,000 $560,000 -8.9% 0.1%
    AMERICAN ADVISORS GROUP $555,000 n/a 0.1%
    American Mortgage & Equity Consultants, Inc. $2,070,000 $530,000 -74.4% 0.1%
    AMERICAN PACIFIC MORTGAGE CORPORATION $105,000 $530,000 404.8% 0.1%
    Mortgages Unlimited Inc. $505,000 $530,000 5.0% 0.1%
    Charter Bank $525,000 n/a 0.1%
    KeyBank $505,000 n/a 0.1%
    CHURCHILL MORTGAGE CORPORATION $165,000 $490,000 197.0% 0.1%
    Morgan Stanley Private Bank $485,000 n/a 0.1%
    North American Savings Bank, F.S.B. $510,000 $480,000 -5.9% 0.1%
    Barrington Bank & Trust Company, N.A. $635,000 $460,000 -27.6% 0.1%
    HOMEBRIDGE FINANCIAL SERVICES, INC. $975,000 $450,000 -53.8% 0.1%
    First United Bank and Trust Company $445,000 n/a 0.1%
    Kirkwood Bank & Trust Co. $445,000 n/a 0.1%
    Merchants Bank of Indiana $425,000 n/a 0.1%
    CONTOUR MORTGAGE CORPORATION $420,000 n/a 0.1%
    Baxter Credit Union $245,000 $415,000 69.4% 0.1%
    Hometown Lenders, Inc. $270,000 $405,000 50.0% 0.1%
    Chartwell Financial, LLC $765,000 $390,000 -49.0% 0.1%
    Deere Employees Credit Union $325,000 $385,000 18.5% 0.1%
    Alerus Financial $1,105,000 $360,000 -67.4% 0.1%
    AMERICAN PORTFOLIO MORTGAGE CORPORATION $645,000 $355,000 -45.0% 0.1%
    First Horizon Bank $355,000 n/a 0.1%
    Central Bank $145,000 $325,000 124.1% 0.1%
    First Western Trust Bank $325,000 n/a 0.1%
    HANCOCK MORTGAGE PARTNERS, LLC $225,000 $315,000 40.0% 0.1%
    UMB Bank $295,000 n/a 0.1%
    First Dakota National Bank $285,000 n/a 0.1%
    MILEND, INC. $270,000 $285,000 5.6% 0.1%
    Signature Federal Credit Union $285,000 n/a 0.1%
    Wyndham Capital Mortgage, Inc. $315,000 $275,000 -12.7% 0.1%
    Colonial Savings, F.A. $265,000 n/a 0.0%
    LADERA LENDING, INC. $265,000 n/a 0.0%
    Equity Prime Mortgage LLC $255,000 n/a 0.0%
    NBKC BANK $585,000 $255,000 -56.4% 0.0%
    Paramount Residential Mortgage Group, Inc. $255,000 n/a 0.0%
    PREMIA MORTGAGE, LLC $255,000 n/a 0.0%
    First Bank & Trust $4,995,000 $245,000 -95.1% 0.0%
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION $245,000 n/a 0.0%
    IDEAL $165,000 $240,000 45.5% 0.0%
    EVERETT FINANCIAL, INC. $905,000 $235,000 -74.0% 0.0%
    Truist $555,000 $235,000 -57.7% 0.0%
    ARK-LA-TEX FINANCIAL SERVICES, LLC. $225,000 n/a 0.0%
    Florida Capital Bank $225,000 n/a 0.0%
    Northpointe Bank $225,000 n/a 0.0%
    PLUS RELOCATION MORTGAGE, LLC $225,000 n/a 0.0%
    SUN WEST MORTGAGE COMPANY, INC. $1,285,000 $225,000 -82.5% 0.0%
    Discover Bank $125,000 $215,000 72.0% 0.0%
    Lincoln Savings Bank $215,000 n/a 0.0%
    MASON MCDUFFIE MORTGAGE CORPORATION $215,000 n/a 0.0%
    Stifel Bank and Trust $2,390,000 $215,000 -91.0% 0.0%
    Bank of England $255,000 $205,000 -19.6% 0.0%
    BNC National Bank $245,000 $205,000 -16.3% 0.0%
    GUILD MORTGAGE COMPANY $145,000 $205,000 41.4% 0.0%
    HIWAY $1,765,000 $205,000 -88.4% 0.0%
    FINANCE OF AMERICA REVERSE LLC $195,000 n/a 0.0%
    ZILLOW HOME LOANS, LLC $135,000 $195,000 44.4% 0.0%
    American Bank Center $185,000 n/a 0.0%
    BELEM SERVICING LLC $185,000 n/a 0.0%
    GSF Mortgage Corporation $185,000 n/a 0.0%
    PRIMARY RESIDENTIAL MORTGAGE, INC. $175,000 $180,000 2.9% 0.0%
    WRIGHT-PATT CREDIT UNION, INC. $175,000 n/a 0.0%
    SIRVA MORTGAGE, INC. $185,000 $165,000 -10.8% 0.0%
    Heritage Bank $155,000 $160,000 3.2% 0.0%
    OCMBC, INC. $160,000 n/a 0.0%
    Summit Mortgage Corporation $380,000 $160,000 -57.9% 0.0%
    Heartland Credit Union $95,000 $155,000 63.2% 0.0%
    NBH Bank $155,000 n/a 0.0%
    TRIAD FINANCIAL SERVICES, INC. $45,000 $155,000 244.4% 0.0%
    University of Wisconsin Credit Union $155,000 n/a 0.0%
    CALIBER HOME LOANS, INC. $3,250,000 $145,000 -95.5% 0.0%
    SUCCESS MORTGAGE PARTNERS, INC. $145,000 n/a 0.0%
    Third Federal Savings and Loan Association of Cleveland $155,000 $140,000 -9.7% 0.0%
    VILLAGE CAPITAL MORTGAGE $870,000 $135,000 -84.5% 0.0%
    FINANCE OF AMERICA MORTGAGE LLC $125,000 n/a 0.0%
    NEW DAY FINANCIAL, LLC $1,540,000 $125,000 -91.9% 0.0%
    St. Paul Federal Credit Union $125,000 n/a 0.0%
    AMERICAN FINANCING CORPORATION $1,015,000 $115,000 -88.7% 0.0%
    MUTUAL OF OMAHA MORTGAGE, INC. $375,000 $115,000 -69.3% 0.0%
    Bank of America $1,660,000 $110,000 -93.4% 0.0%
    Figure Lending LLC $80,000 $110,000 37.5% 0.0%
    Manufacturers Bank & Trust Company $660,000 $105,000 -84.1% 0.0%
    Midwest Heritage Bank FSB $435,000 $105,000 -75.9% 0.0%
    BANKWEST, INC. $60,000 $95,000 58.3% 0.0%
    CorTrust Bank $95,000 n/a 0.0%
    M&T Bank $260,000 $85,000 -67.3% 0.0%
    MARINE $70,000 n/a 0.0%
    21ST MORTGAGE CORPORATION $70,000 $35,000 -50.0% 0.0%
    VOYAGE FEDERAL CREDIT UNION $35,000 n/a 0.0%

    MANKATO's top lender by overall market share is Community Bank Mankato, with 12.8% market share. In second place, with 12.2%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $66,440,000 in loans. In third place, with 7.6%, is CENTRAL MINNESOTA Credit Union, having originated $41,615,000 in loans. In fourth place, with 6.1%, is CROSSCOUNTRY MORTGAGE, LLC, having originated $33,020,000 in loans. In fifth place, with 4.7%, is Bremer Bank, having originated $25,715,000 in loans.

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

    Realtor.com - MANKATO (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 $229,900 (15.7%) $286,261 (18.2%) 0.00 225
    2018-02-01 $237,800 (22.0%) $287,153 (19.6%) 0.00 220
    2018-03-01 $239,700 (17.9%) $298,028 (23.2%) 0.00 234
    2018-04-01 $240,450 (14.7%) $297,579 (17.1%) 0.00 260
    2018-05-01 $244,400 (11.4%) $296,169 (11.3%) 0.00 281
    2018-06-01 $249,900 (13.5%) $298,767 (10.6%) 0.00 300
    2018-07-01 $244,925 (7.6%) $292,969 (7.2%) 0.00 320
    2018-08-01 $247,225 (7.7%) $290,053 (5.8%) 0.00 338
    2018-09-01 $235,400 (0.2%) $281,456 (0.6%) 0.00 357
    2018-10-01 $240,575 (4.9%) $278,034 (-0.3%) 0.00 359
    2018-11-01 $243,075 (6.4%) $277,367 (-0.2%) 0.00 335
    2018-12-01 $242,900 (6.7%) $277,448 (-2.3%) 0.00 285
    2019-01-01 $248,650 (8.2%) $285,562 (-0.2%) 0.00 257
    2019-02-01 $249,900 (5.1%) $292,625 (1.9%) 0.00 251
    2019-03-01 $258,850 (8.0%) $296,521 (-0.5%) 0.00 261
    2019-04-01 $259,250 (7.8%) $298,270 (0.2%) 0.00 279
    2019-05-01 $257,425 (5.3%) $296,031 (-0.1%) 0.00 315
    2019-06-01 $259,900 (4.0%) $298,399 (-0.1%) 0.00 332
    2019-07-01 $259,900 (6.1%) $297,404 (1.5%) 0.00 335
    2019-08-01 $262,400 (6.1%) $301,335 (3.9%) 0.00 344
    2019-09-01 $267,750 (13.7%) $299,381 (6.4%) 0.00 324
    2019-10-01 $259,900 (8.0%) $291,138 (4.7%) 0.00 357
    2019-11-01 $258,000 (6.1%) $289,071 (4.2%) 0.00 326
    2019-12-01 $255,650 (5.3%) $287,846 (3.8%) 0.00 277
    2020-01-01 $255,925 (2.9%) $284,611 (-0.3%) 0.00 253
    2020-02-01 $269,900 (8.0%) $294,786 (0.7%) 0.00 235
    2020-03-01 $277,450 (7.2%) $311,970 (5.2%) 0.00 261
    2020-04-01 $278,950 (7.6%) $313,710 (5.2%) 0.00 267
    2020-05-01 $299,000 (16.2%) $324,984 (9.8%) 0.00 269
    2020-06-01 $299,900 (15.4%) $331,417 (11.1%) 0.00 242
    2020-07-01 $298,050 (14.7%) $332,730 (11.9%) 0.00 205
    2020-08-01 $290,950 (10.9%) $336,825 (11.8%) 0.00 204
    2020-09-01 $282,225 (5.4%) $335,209 (12.0%) 0.00 195
    2020-10-01 $267,900 (3.1%) $316,434 (8.7%) 0.00 198
    2020-11-01 $253,650 (-1.7%) $308,550 (6.7%) 0.00 156
    2020-12-01 $256,200 (0.2%) $306,229 (6.4%) 0.00 139
    2021-01-01 $250,000 (-2.3%) $316,392 (11.2%) 0.00 100
    2021-02-01 $269,400 (-0.2%) $321,330 (9.0%) 0.00 86
    2021-03-01 $280,675 (1.2%) $329,846 (5.7%) 0.00 91
    2021-04-01 $283,650 (1.7%) $340,400 (8.5%) 0.00 104
    2021-05-01 $289,450 (-3.2%) $345,202 (6.2%) 0.00 92
    2021-06-01 $279,950 (-6.7%) $337,050 (1.7%) 0.00 110
    2021-07-01 $257,200 (-13.7%) $330,055 (-0.8%) 0.00 122
    2021-08-01 $262,450 (-9.8%) $328,269 (-2.5%) 0.00 144
    2021-09-01 $264,950 (-6.1%) $325,235 (-3.0%) 0.00 147
    2021-10-01 $269,900 (0.8%) $328,815 (3.9%) 0.00 149
    2021-11-01 $272,400 (7.4%) $341,385 (10.6%) 0.00 142
    2021-12-01 $295,225 (15.2%) $352,180 (15.0%) 0.00 113
    2022-01-01 $309,400 (23.8%) $359,819 (13.7%) 0.00 94
    2022-02-01 $317,425 (17.8%) $426,190 (32.6%) 0.00 80
    2022-03-01 $282,475 (0.6%) $377,063 (14.3%) 0.00 73
    2022-04-01 $279,900 (-1.3%) $334,835 (-1.6%) 0.00 87
    2022-05-01 $306,725 (6.0%) $360,771 (4.5%) 0.00 98
    2022-06-01 $319,900 (14.3%) $369,816 (9.7%) 0.00 136
    2022-07-01 $324,400 (26.1%) $369,288 (11.9%) 0.00 144
    2022-08-01 $324,675 (23.7%) $378,690 (15.4%) 0.00 145
    2022-09-01 $321,225 (21.2%) $373,725 (14.9%) 0.00 141
    2022-10-01 $319,000 (18.2%) $370,346 (12.6%) 0.00 145
    2022-11-01 $311,700 (14.4%) $363,350 (6.4%) 0.00 136
    2022-12-01 $337,400 (14.3%) $364,542 (3.5%) 0.00 123
    2023-01-01 $371,700 (20.1%) $384,880 (7.0%) 0.00 95
    2023-02-01 $384,900 (21.3%) $400,244 (-6.1%) 0.00 96
    2023-03-01 $399,900 (41.6%) $412,683 (9.5%) 0.00 85
    2023-04-01 $362,450 (29.5%) $403,194 (20.4%) 0.00 101
    MANKATO's median listing price for 2023-04-01 was $362,450, a difference of $82,550 (29.5%) versus the prior year and $-37,450 versus the prior month.

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

    MANKATO's average listing price for 2023-04-01 was $403,194, a difference of $68,359 (20.4%) versus the prior year and $-9,489 versus the prior month.

    For the 2023-04-01 period, MANKATO had 101 MLS listings, a difference of 16 listings (19%) versus the prior month and 14 listings (16%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - MANKATO (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,147 sqft
    2018-02-01 0 days 2,094 sqft
    2018-03-01 0 days 2,128 sqft
    2018-04-01 0 days 2,153 sqft
    2018-05-01 0 days 2,139 sqft
    2018-06-01 0 days 2,139 sqft
    2018-07-01 0 days 2,112 sqft
    2018-08-01 0 days 2,136 sqft
    2018-09-01 0 days 2,101 sqft
    2018-10-01 0 days 2,093 sqft
    2018-11-01 0 days 2,096 sqft
    2018-12-01 0 days 2,099 sqft
    2019-01-01 0 days 2,155 sqft
    2019-02-01 0 days 2,146 sqft
    2019-03-01 0 days 2,156 sqft
    2019-04-01 0 days 2,164 sqft
    2019-05-01 0 days 2,143 sqft
    2019-06-01 0 days 2,185 sqft
    2019-07-01 0 days 2,244 sqft
    2019-08-01 0 days 2,204 sqft
    2019-09-01 0 days 2,163 sqft
    2019-10-01 0 days 2,156 sqft
    2019-11-01 0 days 2,151 sqft
    2019-12-01 0 days 2,094 sqft
    2020-01-01 0 days 2,018 sqft
    2020-02-01 0 days 2,142 sqft
    2020-03-01 0 days 2,245 sqft
    2020-04-01 0 days 2,220 sqft
    2020-05-01 0 days 2,292 sqft
    2020-06-01 0 days 2,559 sqft
    2020-07-01 0 days 2,635 sqft
    2020-08-01 0 days 2,699 sqft
    2020-09-01 0 days 2,625 sqft
    2020-10-01 0 days 2,504 sqft
    2020-11-01 0 days 2,490 sqft
    2020-12-01 0 days 2,481 sqft
    2021-01-01 0 days 2,478 sqft
    2021-02-01 0 days 2,387 sqft
    2021-03-01 0 days 2,451 sqft
    2021-04-01 0 days 2,439 sqft
    2021-05-01 0 days 2,473 sqft
    2021-06-01 0 days 2,420 sqft
    2021-07-01 0 days 2,365 sqft
    2021-08-01 0 days 2,301 sqft
    2021-09-01 0 days 2,257 sqft
    2021-10-01 0 days 2,326 sqft
    2021-11-01 0 days 2,322 sqft
    2021-12-01 0 days 2,350 sqft
    2022-01-01 0 days 2,355 sqft
    2022-02-01 0 days 2,334 sqft
    2022-03-01 0 days 2,221 sqft
    2022-04-01 0 days 2,196 sqft
    2022-05-01 0 days 2,350 sqft
    2022-06-01 0 days 2,345 sqft
    2022-07-01 0 days 2,347 sqft
    2022-08-01 0 days 2,416 sqft
    2022-09-01 0 days 2,363 sqft
    2022-10-01 0 days 2,369 sqft
    2022-11-01 0 days 2,387 sqft
    2022-12-01 0 days 2,346 sqft
    2023-01-01 0 days 2,367 sqft
    2023-02-01 0 days 2,416 sqft
    2023-03-01 0 days 2,487 sqft
    2023-04-01 0 days 2,408 sqft
    MANKATO's median listing age (time on market) for 2023-04-01 was 0 days.

    MANKATO's median square footage for active listings during the 2023-04-01 period was 2,408 sqft. One year prior, the average listing was 2,196 sqft.

    MANKATO, MN Average Rent (2023)

    Zoom/scroll map to see average rent by zip code. Subscribers can configure state/metro/county granularity, assorted fields and quantity of results.

    For additional perspective within a market, below is information regarding the average rents (as defined by HUD) for zip codes within the metro area. Descriptive statistics (average, median) are shown below the table.
    Zip Code Metro Studio Apartment Rent 1BR Apartment Rent 2BR Apartment Rent 3BR Apartment Rent 4BR Apartment Rent
    55332 Mankato-North Mankato, MN $590 $660 $870 $1,220 $1,500
    55334 Mankato-North Mankato, MN $590 $660 $870 $1,220 $1,500
    55335 Mankato-North Mankato, MN $590 $660 $870 $1,220 $1,500
    56001 Mankato-North Mankato, MN $740 $810 $1,030 $1,430 $1,760
    56003 Mankato-North Mankato, MN $670 $730 $930 $1,290 $1,590
    56010 Mankato-North Mankato, MN $590 $660 $870 $1,220 $1,500
    56021 Mankato-North Mankato, MN $690 $760 $970 $1,350 $1,660
    56024 Mankato-North Mankato, MN $1,000 $1,090 $1,400 $1,950 $2,400
    56025 Mankato-North Mankato, MN $720 $790 $1,010 $1,400 $1,730
    56034 Mankato-North Mankato, MN $710 $810 $1,030 $1,440 $1,790
    56037 Mankato-North Mankato, MN $590 $660 $870 $1,220 $1,500
    56041 Mankato-North Mankato, MN $720 $790 $1,010 $1,400 $1,730
    56048 Mankato-North Mankato, MN $590 $660 $870 $1,220 $1,500
    56050 Mankato-North Mankato, MN $630 $660 $870 $1,220 $1,500
    56054 Mankato-North Mankato, MN $590 $660 $870 $1,220 $1,500
    56055 Mankato-North Mankato, MN $660 $720 $920 $1,280 $1,570
    56058 Mankato-North Mankato, MN $630 $660 $870 $1,220 $1,500
    56060 Mankato-North Mankato, MN $720 $790 $1,010 $1,400 $1,730
    56062 Mankato-North Mankato, MN $590 $660 $870 $1,220 $1,500
    56063 Mankato-North Mankato, MN $660 $720 $930 $1,290 $1,550
    56065 Mankato-North Mankato, MN $590 $660 $870 $1,220 $1,500
    56068 Mankato-North Mankato, MN $590 $660 $870 $1,220 $1,500
    56073 Mankato-North Mankato, MN $590 $660 $870 $1,220 $1,500
    56074 Mankato-North Mankato, MN $590 $660 $870 $1,220 $1,500
    56078 Mankato-North Mankato, MN $770 $840 $1,080 $1,500 $1,850
    56080 Mankato-North Mankato, MN $590 $660 $870 $1,220 $1,500
    56082 Mankato-North Mankato, MN $760 $840 $1,070 $1,490 $1,820
    56088 Mankato-North Mankato, MN $590 $660 $870 $1,220 $1,500
    56090 Mankato-North Mankato, MN $770 $840 $1,070 $1,490 $1,830

    2022 Average & Median Rent Data Statistics
    MANKATO, MN average 1BR rent: $727, median: $660
    MANKATO, MN average 2BR rent: $944, median: $870
    MANKATO, MN average 3BR rent: $1,318, median: $1,220

    MANKATO, MN Market Loan Reason

    Loan Purpose Originations Total Value Average Loan
    Home Purchase 1,229 $390,925,000 $318,084
    Cash Out Refi 329 $62,865,000 $191,079
    Refi 303 $76,545,000 $252,624
    Home Improvement 86 $7,680,000 $89,302
    Other 72 $7,630,000 $105,972

    Mankato's most frequently cited loan purpose was Home Purchase, with 1,229 originations. The 2nd most popular reason was Cash Out Refi, with 329 originations.

    Interest Rate Frequencies

    Loan Rate Originations Total Value Average Loan
    5-6% 437 $97,585,000 $223,307
    4-5% 425 $152,665,000 $359,212
    3-4% 384 $100,090,000 $260,651
    6-7% 186 $37,770,000 $203,065
    2.5-3% 89 $19,575,000 $219,944
    <2.5% 69 $10,975,000 $159,058
    7-8% 38 $5,790,000 $152,368
    Over 8% 23 $1,465,000 $63,696

    During 2022, Mankato's most frequently originated rate bucket was 5-6%, with 437 originations.

    Loan Sizing (MANKATO, MN MSA)

    Loan Size Originations Total Value Average Loan
    $200k-400k 776 $209,940,000 $270,541
    $100k-200k 701 $107,725,000 $153,673
    $100,000 or less 361 $19,015,000 $52,673
    $400k-600k 129 $59,805,000 $463,605
    $600k-1000k 30 $22,690,000 $756,333
    $Over $1MM 22 $126,470,000 $5,748,636

    MANKATO's loan sizing saw the bucket of loans from $200k-400k with 776 originations, totaling $209,940,000 in origination value.

    LTV Distribution

    Loan to Value Originations Total Value Average Loan
    80-100% 789 $212,925,000 $269,867
    60-80% 443 $116,525,000 $263,036
    Under 20% 147 $6,925,000 $47,109
    40-60% 142 $67,900,000 $478,169
    20-40% 109 $14,745,000 $135,275
    Over 100% 22 $6,630,000 $301,364

    MANKATO's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 789 originations, totaling $212,925,000 in origination value.