Minnesota USDA Loan Rates, Closing Costs & Stats

Minnesota

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    • USDA loans are zero-downpayment loans targeted towards lower-income households in rural areas. They can be made directly by the US Department of Agriculture or through a participating lender-- and they typically to borrowers with credit scores over 640. They can have subsidized rates, making them very competitive in terms of cost, but they have more stringent standards on who is eligible as well as specific covenants such as only being available in rural areas and limits on home size.

    Minnesota USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Minnesota averaged 6.7% for the week of 2025-04-04, compared to the national average (all USDA variants) of 6.324% for the same period.

    Minnesota's average USDA mortgage closing costs are $5,528.

    The average rate for the prior week (2025-03-28) was 6.56% and one month ago for the week of 2025-02-28, the average rate was 6.61%.

    The average rate one year ago was 6.57%.

    For refis of the same type during the week of 2025-04-04, the average rate was 6.34%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Minnesota USDA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Minnesota level.

    Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
    UNITED WHOLESALE MORTGAGE, LLC 24 6.32% $8,040
    AMERICAN PACIFIC MORTGAGE CORPORATION 21 6.47% $7,546
    CROSSCOUNTRY MORTGAGE, LLC 19 6.45% $8,957
    BROKER SOLUTIONS, INC. 17 6.93% $8,070
    Flagstar Bank, FSB 17 6.51% $6,985
    NEWREZ LLC 15 6.40% $7,547
    PLAZA HOME MORTGAGE, INC. 14 6.31% $7,514
    Bell Bank 13 6.37% $7,991
    Paramount Residential Mortgage Group, Inc. 13 6.54% $8,993
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 12 6.70% $8,060
    Flanagan State Bank 10 6.53% $5,691
    UNION HOME MORTGAGE CORP. 10 6.40% $7,019
    PRIMARY RESIDENTIAL MORTGAGE, INC. 10 6.45% $7,090
    American Mortgage & Equity Consultants, Inc. 9 6.69% $9,177
    Park State Bank 9 6.22% $5,833
    Bremer Bank 8 6.28% $6,280
    Summit Mortgage Corporation 8 6.39% $6,748
    Equity Prime Mortgage LLC 6 6.38% $6,700
    Barrington Bank & Trust Company, N.A. 6 6.58% $8,032
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 6 6.58% $5,255
    AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 6 6.33% $11,097
    GUARANTEED RATE, INC. 6 6.56% $7,719
    PRIMELENDING, A PLAINSCAPITAL COMPANY 6 6.46% $8,481
    Alerus Financial 5 6.43% $6,418
    Century Mortgage Company DBA Century Lending Company 5 6.15% $7,084
    Frandsen Bank & Trust 5 5.95% $7,188
    Plains Commerce Bank 5 7.03% $6,269
    PLANET HOME LENDING, LLC 5 6.70% $5,554
    PREMIER MORTGAGE RESOURCES, L.L.C. 5 6.95% $7,932
    Servion, Inc. 4 6.56% $5,676
    Loan Simple, Inc. 4 6.81% $10,468
    Nations Lending Corporation 4 6.84% $4,187
    SUN WEST MORTGAGE COMPANY, INC. 4 6.38% $9,607
    IOWA BANKERS MORTGAGE CORPORATION 4 6.44% $4,271
    Prosperity Home Mortgage, LLC 3 6.58% $5,592
    Gate City Bank 3 5.96% $7,523
    Granite Community Bank 3 6.58% $6,052
    LOANDEPOT.COM, LLC 3 6.79% $6,146
    Ixonia Bank 3 6.54% $8,789
    First Western Bank & Trust 3 6.00% $7,653
    Merchants Bank 3 6.48% $7,053
    BAY EQUITY LLC 2 6.00% $9,158
    CARDINAL FINANCIAL 2 7.00% $14,074
    ST. CLOUD FINANCIAL 2 6.00% $9,207
    GUILD MORTGAGE COMPANY 2 6.38% $8,400
    JMAC LENDING, INC. 2 6.00% $8,523
    TOWNE MORTGAGE COMPANY 2 5.94% $8,460
    GUARANTEED RATE AFFINITY, LLC 2 6.63% $10,766
    Sierra Pacific Mortgage Company, Inc. 1 5.63% $12,609
    SUCCESS MORTGAGE PARTNERS, INC. 1 6.63% $6,436
    TOWN AND COUNTRY Credit Union 1 6.00% $10,094
    Truist 1 6.75% $5,544
    AMERICAN FINANCIAL NETWORK, INC. 1 5.63% $8,162
    First PREMIER Bank 1 5.75% $8,072
    First National Bank of Omaha 1 6.50% $6,994
    FREEDOM MORTGAGE CORPORATION 1 6.50% $5,861
    American Bank & Trust 1 5.75% $6,661
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 6.25% $12,737
    First International Bank & Trust 1 6.13% $5,472
    HomeTown Bank 1 6.63% $5,087
    MID AMERICA MORTGAGE, INC. 1 6.63% $3,982
    MidWestOne Bank 1 6.13% $5,958
    Minnwest Bank 1 7.25% $4,238
    MLD MORTGAGE INC. 1 6.38% $6,925
    Mortgage Research Center, LLC 1 7.25% $3,692
    FIRST COLONY MORTGAGE CORPORATION 1 6.13% $12,602
    Old National Bank 1 5.50% $4,043
    First Bank & Trust 1 7.25% $6,592
    EVERETT FINANCIAL, INC. 1 6.63% $8,657
    U.S. Bank 1 6.99% $3,363
    VALLEY MORTGAGE, INC. 1 6.25% $5,724
    CMG MORTGAGE, INC. 1 6.75% $7,317
    Waterstone Mortgage Corporation 1 6.50% $11,506
    CITY FIRST MORTGAGE SERVICES, L.L.C. 1 5.75% $11,343
    Reliabank Dakota 1 6.50% $6,970

    The top Minnesota USDA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 24 USDA loans originated. Their average total fees are $8,040, which is $494 higher than the next largest lender, AMERICAN PACIFIC MORTGAGE CORPORATION.

    The lowest fee Minnesota USDA lenders (with over 10 loans originated) are Flanagan State Bank ($5,691), Flagstar Bank, FSB ($6,985), UNION HOME MORTGAGE CORP. ($7,019), PRIMARY RESIDENTIAL MORTGAGE, INC. ($7,090) and PLAZA HOME MORTGAGE, INC. ($7,514).

    The lowest rate Minnesota USDA lenders (with over 10 loans originated) are PLAZA HOME MORTGAGE, INC. (6.31%), UNITED WHOLESALE MORTGAGE, LLC (6.32%), Bell Bank (6.37%), NEWREZ LLC (6.40%) and UNION HOME MORTGAGE CORP. (6.40%).