Compare mortgage rates and fees for leading lenders in Saint Michael, 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 Saint Michael.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Saint Michael. Plus, shopping lenders is free and there is no obligation.
October 22, 2019
The current average rate for a 30 year fixed rate mortgage in Saint Michael 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 Saint Michael, MN (Wright County) is $243,779
The median household income for Saint Michael, MN (Wright County) is $80,336
Based on current mortgage rates and a 10% down payment, you need to make $45,229 per year to buy the median priced home in Saint Michael
The home price you can afford to buy based on household income in Saint Michael is 178% of the median home value which means housing prices are average
Saint Michael (Wright County) ranks 59 out of 87 counties in Minnesota and 2,034 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Saint Michael, MN is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Saint Michael (Wright County) below.
Conforming loan limits for Saint Michael, MN
FHA loan limits for Saint Michael, MN
VA loan limits for Saint Michael, 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