Compare mortgage rates and fees for leading lenders in Duluth, 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 Duluth.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Duluth. Plus, shopping lenders is free and there is no obligation.
September 22, 2019
The current average rate for a 30 year fixed rate mortgage in Duluth 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%
The median home value for Duluth, MN (St. Louis County) is $163,958
The median household income for Duluth, MN (St. Louis County) is $52,493
Based on current mortgage rates and a 10% down payment, you need to make $30,419 per year to buy the median priced home in Duluth
The home price you can afford to buy based on household income in Duluth is 173% of the median home value which means housing prices are average
Duluth (St. Louis County) ranks 66 out of 87 counties in Minnesota and 2,147 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Duluth, MN is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Duluth (St. Louis County) below.
Conforming loan limits for Duluth, MN
FHA loan limits for Duluth, MN
VA loan limits for Duluth, MN
US Census Bureau American Community Survey: https://www.census.gov/programs-surveys/acs
FHFA House Price Index: https://www.fhfa.gov/DataTools/Downloads/Pages/House-Price-Index-Datasets.aspx#qat
Income Growth: https://www.bls.gov
National Average Rates: http://www.freddiemac.com/pmms/
Conforming Loan Limits: https://www.fhfa.gov/DataTools/Downloads/Pages/Conforming-Loan-Limits.aspx
FHA Loan Limits: https://entp.hud.gov/idapp/html/hicostlook.cfm
VA Loan Limits: https://www.benefits.va.gov/homeloans/purchaseco_loan_limits.asp
FREEandCLEAR Housing Affordability Index