Compare Duluth, MN mortgage rates and fees from top lenders. 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 lowest 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.
January 24, 2022
Below we provide helpful information on the real estate market, home prices and housing affordability in Duluth. Understand how much you need to earn to afford a home in Duluth, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Duluth 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 Duluth is right for you.
The median home value for Duluth, MN (St. Louis County) is $193,743
Based on current mortgage rates and a 10% down payment, you need to make $31,744 per year to buy the median priced home in Duluth
With this income, you could qualify for a $174,369 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 Duluth is $735
The median household income for Duluth, MN (St. Louis County) is $60,146
Based on this income, you can afford a home valued at approximately $367,090
The home price you can afford to buy based on household income in Duluth is 189% of the median home value which means housing prices are average. Duluth (St. Louis County) ranks 58 out of 87 counties in Minnesota and 1,952 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