New Ulm Mortgage Rates & Closing Costs
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% |
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.).
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.