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Anoka

Current Mortgage Rates in Anoka, Minnesota

Compare mortgage rates and fees for leading lenders in Anoka, MN. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lender offering the best mortgage rates in Anoka.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Anoka. Plus, shopping lenders is free and there is no obligation.

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Mortgage Rates in Anoka, MN as of September 18, 2020
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Data provided by Brown Bag Marketing, Inc. Payments do not include amounts for taxes and insurance premiums. Read through our lender table disclaimer for more on rates and product details.
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How Do Today's Anoka, MN Mortgage Rates Compare?

September 18, 2020

The current average rate for a 30 year fixed rate mortgage in Anoka is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%

Mortgage Program
Today's
Anoka, MN Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.650%
15 Year Fixed Rate
B.BBB%
3.090%
5/1 Adjustable Rate Mortgage
C.CCC%
3.390%

How Affordable is Housing in Anoka, Minnesota?

Below we provide helpful information on the real estate market, home prices and housing affordability in Anoka. Understand how much you need to earn to afford a home in Anoka, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Anoka fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Anoka is right for you.

The median home value for Anoka, MN is $259,779

Based on current mortgage rates and a 10% down payment, you need to make $46,753 per year to buy the median priced home in Anoka

With this income, you could qualify for a $233,801 mortgage, assuming your monthly debt expense is reasonable

Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Anoka is $1,083

The median household income for Anoka, MN is $80,992

Based on this income, you can afford a home valued at approximately $450,022

The home price you can afford to buy based on household income in Anoka is 173% of the median home value which means housing prices are average. Anoka ranks 63 out of 87 counties in Minnesota and 2,098 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Anoka, MN is average

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Loan Limits for Anoka, Minnesota

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Anoka below.

Conforming loan limits for Anoka, MN

1 unit: $510,400
2 units: $653,550
3 units: $789,950
4 units: $981,700

FHA loan limits for Anoka, MN

1 unit: $382,950
2 units: $490,250
3 units: $592,600
4 units: $736,450

VA loan limits for Anoka, MN

1 unit: $510,400

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