New Ulm Mortgage Rates & Closing Costs

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

30 Year Fixed Rate mortgages in New Ulm averaged 6.87% 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 7.07% and one month ago for the week of 2025-05-29, the average rate was 7.09%.

New Ulm's average rate one year ago was 6.96%.

For refis of the same type during the week of 2025-07-03, the average rate was 7.07%.

Loan Type Date Rate
US 30 Year Fixed Rate 2025-07-03 6.67%
New Ulm 30 Year Fixed Rate 2025-07-03 6.87%
New Ulm 30 Year Fixed Rate Refi 2025-07-03 7.07%
New Ulm 15 Year Fixed Rate 2025-07-03 6%
New Ulm 15 Year Fixed Rate Refi 2025-07-03 6%
New Ulm 30 Year FHA 2025-07-03 0%
New Ulm 30 Year FHA Refi 2025-07-03 -0.1%
New Ulm 30 Year USDA 2025-07-03 -0.1%
New Ulm 30 Year USDA Refi 2025-07-03 -0.2%
New Ulm 30 Year VA 2025-07-03 0%
New Ulm 30 Year VA Refi 2025-07-03 0.1%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within New Ulm, MN.

New Ulm 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 New Ulm, 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
Frandsen Bank & Trust 16 6.41% $4,071
QUICKEN LOANS, LLC 11 6.77% $4,918
UNITED WHOLESALE MORTGAGE, LLC 10 6.94% $5,963
COMPEER FINANCIAL, FLCA 6 7.77% $3,517
Bremer Bank 4 6.44% $5,116
AFFINITY PLUS 4 6.09% $3,903
HomeTown Bank 3 7.05% $3,264
Plains Commerce Bank 3 6.79% $3,019
IOWA BANKERS MORTGAGE CORPORATION 2 6.81% $3,580
BROKER SOLUTIONS, INC. 2 7.06% $5,431
EVERETT FINANCIAL, INC. 2 7.63% $5,099
JPMorgan Chase Bank 2 7.18% $1,942
PLAZA HOME MORTGAGE, INC. 2 6.81% $3,686
U.S. Bank 2 6.38% $3,120
Citizens Community Federal 1 6.88% $3,137
Granite Community Bank 1 6.50% $3,770
GUARANTEED RATE, INC. 1 6.75% $3,701
CENTRAL MINNESOTA Credit Union 1 5.88% $3,389
Cambria Financial Group, LLC 1 6.99% $4,924
ALAMEDA MORTGAGE CORPORATION 1 6.99% $6,839
LOANDEPOT.COM, LLC 1 5.75% $10,006
MLD MORTGAGE INC. 1 6.49% $6,413
MOVEMENT MORTGAGE, LLC 1 6.50% $3,394
NAVY FEDERAL CREDIT UNION 1 6.75% $2,378
NexBank 1 5.88% $5,812
PENNYMAC LOAN SERVICES, LLC 1 6.99% $5,016
Bell Bank 1 7.13% $7,129
Wells Fargo Bank 1 6.63% $6,188
PREMIER MORTGAGE RESOURCES, L.L.C. 1 7.13% $5,902
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 1 7.00% $4,366
RANLIFE, INC. 1 6.88% $6,121
ROYAL UNITED MORTGAGE LLC 1 7.50% $3,604
SIRVA MORTGAGE, INC. 1 6.88% $0
CROSSCOUNTRY MORTGAGE, LLC 1 7.13% $5,962
Summit Mortgage Corporation 1 6.63% $3,439
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 1 7.50% $5,249
First Bank & Trust 1 6.49% $5,320

New Ulm Average Closing Costs & Other Stats

New Ulm, MN's 37 lenders originated 399 loans during 2024. The total origination value was $59,875,000, with an average loan value of $150,063.

New Ulm's average closing costs are $4,314.

The top New Ulm lender as defined by loan originations is Frandsen Bank & Trust, with 16 loans originated. Their average total fees are $4,071, which is $848 lower than the next largest lender, QUICKEN LOANS, LLC.

The lowest fee New Ulm lenders (with over 10 loans originated) are Frandsen Bank & Trust ($4,071), QUICKEN LOANS, LLC ($4,918), UNITED WHOLESALE MORTGAGE, LLC ($5,963), .

The lowest rate New Ulm lenders (with over 10 loans originated) are Frandsen Bank & Trust (6.41%), QUICKEN LOANS, LLC (6.77%), UNITED WHOLESALE MORTGAGE, LLC (6.94%), .

New Ulm, 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
SOUTHPOINT FINANCIAL $12,310,000 $13,865,000 12.6% 23.2%
Frandsen Bank & Trust $5,295,000 $5,655,000 6.8% 9.4%
Citizens Bank Minnesota $7,570,000 $4,890,000 -35.4% 8.2%
QUICKEN LOANS, LLC $2,525,000 $3,545,000 40.4% 5.9%
UNITED WHOLESALE MORTGAGE, LLC $2,825,000 $3,365,000 19.1% 5.6%
COMPEER FINANCIAL, FLCA $1,100,000 $2,030,000 84.5% 3.4%
Alliance Bank $2,415,000 $1,480,000 -38.7% 2.5%
Bank Midwest $625,000 $1,470,000 135.2% 2.5%
Mortgage Research Center, LLC $155,000 $1,400,000 803.2% 2.3%
BROKER SOLUTIONS, INC. $1,145,000 n/a 1.9%
AFFINITY PLUS $130,000 $1,125,000 765.4% 1.9%
Plains Commerce Bank $350,000 $1,050,000 200.0% 1.8%
Bremer Bank $540,000 $800,000 48.1% 1.3%
FREEDOM MORTGAGE CORPORATION $175,000 $770,000 340.0% 1.3%
LOANDEPOT.COM, LLC $185,000 $725,000 291.9% 1.2%
CROSSCOUNTRY MORTGAGE, LLC $460,000 $720,000 56.5% 1.2%
Community Bank Mankato $85,000 $560,000 558.8% 0.9%
Minnwest Bank $440,000 $560,000 27.3% 0.9%
Prosperity Home Mortgage, LLC $790,000 $560,000 -29.1% 0.9%
FAIRWAY INDEPENDENT MORTGAGE CORPORATION $430,000 $535,000 24.4% 0.9%
MORTGAGE SOLUTIONS OF COLORADO, LLC $485,000 n/a 0.8%
American Mortgage & Equity Consultants, Inc. $475,000 n/a 0.8%
Mr. Cooper ( Nationstar Mortgage ) $380,000 $465,000 22.4% 0.8%
U.S. Bank $360,000 $465,000 29.2% 0.8%
HomeTown Bank $125,000 $460,000 268.0% 0.8%
BankVista $455,000 n/a 0.8%
GUARANTEED RATE, INC. $1,095,000 $450,000 -58.9% 0.8%
PLAZA HOME MORTGAGE, INC. $330,000 $420,000 27.3% 0.7%
NexBank $395,000 n/a 0.7%
PENNYMAC LOAN SERVICES, LLC $645,000 $360,000 -44.2% 0.6%
EVERETT FINANCIAL, INC. $275,000 $355,000 29.1% 0.6%
Magnolia Bank $335,000 n/a 0.6%
SIRVA MORTGAGE, INC. $205,000 $335,000 63.4% 0.6%
Bell Bank $330,000 n/a 0.6%
IOWA BANKERS MORTGAGE CORPORATION $875,000 $320,000 -63.4% 0.5%
NAVY FEDERAL CREDIT UNION $320,000 n/a 0.5%
Flagstar Bank, FSB $385,000 $305,000 -20.8% 0.5%
Cambria Financial Group, LLC $145,000 $290,000 100.0% 0.5%
Citizens Community Federal $285,000 n/a 0.5%
CARDINAL FINANCIAL $255,000 n/a 0.4%
NEWREZ LLC $225,000 $255,000 13.3% 0.4%
Wells Fargo Bank $735,000 $255,000 -65.3% 0.4%
ALAMEDA MORTGAGE CORPORATION $245,000 n/a 0.4%
Pioneer Bank $155,000 $240,000 54.8% 0.4%
MLD MORTGAGE INC. $225,000 n/a 0.4%
Minnesota Valley Federal Credit Union $155,000 $220,000 41.9% 0.4%
First Bank & Trust $155,000 $215,000 38.7% 0.4%
PREMIER MORTGAGE RESOURCES, L.L.C. $215,000 n/a 0.4%
VILLAGE CAPITAL MORTGAGE $215,000 n/a 0.4%
Northeast Bank $210,000 n/a 0.4%
Ixonia Bank $205,000 n/a 0.3%
JPMorgan Chase Bank $115,000 $200,000 73.9% 0.3%
AmeriHome Mortgage Company, LLC $185,000 n/a 0.3%
BAY EQUITY LLC $105,000 $175,000 66.7% 0.3%
Carrington Mortgage Services, LLC $175,000 n/a 0.3%
Citizens Alliance Bank $210,000 $175,000 -16.7% 0.3%
CORTRUST MORTGAGE, INC. $175,000 n/a 0.3%
MinnStar Bank N.A. $495,000 $175,000 -64.6% 0.3%
Tradition Mortgage, LLC $165,000 $155,000 -6.1% 0.3%
NEW DAY FINANCIAL, LLC $105,000 $145,000 38.1% 0.2%
AMERISAVE MORTGAGE CORPORATION $290,000 $135,000 -53.4% 0.2%
CENTRAL MINNESOTA Credit Union $135,000 n/a 0.2%
Granite Community Bank $135,000 n/a 0.2%
MOVEMENT MORTGAGE, LLC $135,000 $135,000 0.0% 0.2%
TRUSTONE FINANCIAL FEDERAL CREDIT UNION $120,000 $120,000 0.0% 0.2%
Summit Mortgage Corporation $255,000 $105,000 -58.8% 0.2%
UNION HOME MORTGAGE CORP. $105,000 n/a 0.2%
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC $95,000 n/a 0.2%
RANLIFE, INC. $95,000 n/a 0.2%
The Huntington National Bank $75,000 $90,000 20.0% 0.2%
AMERICAN PACIFIC MORTGAGE CORPORATION $215,000 $85,000 -60.5% 0.1%
Discover Bank $85,000 n/a 0.1%
CorTrust Bank $75,000 n/a 0.1%
ROYAL UNITED MORTGAGE LLC $55,000 n/a 0.1%
Johnson Bank $45,000 n/a 0.1%
21ST MORTGAGE CORPORATION $35,000 n/a 0.1%
Figure Lending LLC $35,000 $35,000 0.0% 0.1%
NOVATION CREDIT UNION $25,000 n/a 0.0%
SMW Financial Credit Union $25,000 n/a 0.0%
Coastal Community Bank $15,000 n/a 0.0%

New Ulm's top lender by overall market share is SOUTHPOINT FINANCIAL, with 23.2% market share. In second place, with 9.4%, is Frandsen Bank & Trust, having originated $5,655,000 in loans. In third place, with 8.2%, is Citizens Bank Minnesota, having originated $4,890,000 in loans. In fourth place, with 5.9%, is QUICKEN LOANS, LLC, having originated $3,545,000 in loans. In fifth place, with 5.6%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $3,365,000 in loans.

New Ulm, MN Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 268 $46,290,000 $172,724
Refi 45 $6,495,000 $144,333
Home Improvement 39 $2,045,000 $52,436
Other 29 $1,895,000 $65,345
Cash Out Refi 18 $3,150,000 $175,000

New Ulm's most frequently cited loan purpose was Home Purchase, with 268 originations. The 2nd most popular reason was Refi, with 45 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
6-7% 108 $19,130,000 $177,130
7-8% 49 $7,185,000 $146,633
5-6% 26 $5,800,000 $223,077
Over 8% 14 $1,660,000 $118,571
<2.5% 4 $530,000 $132,500
4-5% 1 $145,000 $145,000
2.5-3% 1 $215,000 $215,000

During 2024, New Ulm's most frequently originated rate bucket was 6-7%, with 108 originations.

Loan Sizing (New Ulm, MN MSA)

Loan Size Originations Total Value Average Loan
$100k-200k 161 $24,095,000 $149,658
$100,000 or less 132 $7,040,000 $53,333
$200k-400k 99 $25,165,000 $254,192
$400k-600k 6 $2,760,000 $460,000
$600k-1000k 1 $815,000 $815,000

New Ulm's loan sizing saw the bucket of loans from $100k-200k with 161 originations, totaling $24,095,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 110 $20,680,000 $188,000
60-80% 39 $7,645,000 $196,026
Under 20% 23 $595,000 $25,870
40-60% 17 $3,205,000 $188,529
20-40% 8 $650,000 $81,250
Over 100% 2 $620,000 $310,000

New Ulm's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 110 originations, totaling $20,680,000 in origination value.