»
»
Dakota

Current Mortgage Rates in Dakota, Minnesota

Compare mortgage rates and fees for leading lenders in Dakota, 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 Dakota.

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

%
Mortgage Rates in Dakota, MN as of February 25, 2020
  • Lender
  • APR
  • Loan Type
  • Rate
  • Payment
  • Fees
  • Contact
Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click for more information on rates and product details.
PERSONALIZED MORTGAGE QUOTE

$
LEADING LENDERS ● LOW RATES ● FREE ● NO SSN

How Do Today's Dakota, MN Mortgage Rates Compare?

February 25, 2020

The current average rate for a 30 year fixed rate mortgage in Dakota 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
Dakota, 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 Dakota, Minnesota?

Below we provide helpful information on the real estate market, home prices and housing affordability in Dakota. Understand how much you need to earn to afford a home in Dakota, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Dakota 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 Dakota is right for you.

The median home value for Dakota, MN is $300,571

Based on current mortgage rates and a 10% down payment, you need to make $54,095 per year to buy the median priced home in Dakota

With this income, you could qualify for a $270,514 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 Dakota is $1,253

The median household income for Dakota, MN is $84,366

Based on this income, you can afford a home valued at approximately $468,768

The home price you can afford to buy based on household income in Dakota is 156% of the median home value which means housing prices are average. Dakota ranks 76 out of 87 counties in Minnesota and 2,431 out of 3,142 counties in the United States for housing affordability.

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

orange-simple-house
ruler

Loan Limits for Dakota, Minnesota

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

Conforming loan limits for Dakota, MN

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

FHA loan limits for Dakota, MN

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

VA loan limits for Dakota, MN

1 unit: $510,400

Additional Mortgage Resources for Dakota, MN Residents

Mortgage Rates for Minnesota Cities

Anoka Mortgage Rates

Carver Mortgage Rates

Dakota Mortgage Rates

Duluth Mortgage Rates

Minneapolis Mortgage Rates

Rochester Mortgage Rates

Saint Michael Mortgage Rates

Shakopee Mortgage Rates

Sherburne Mortgage Rates

St. Cloud Mortgage Rates

St. Paul Mortgage Rates

Woodbury Mortgage Rates