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Compare Current Shakopee, Minnesota Mortgage Rates
Compare Shakopee, 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 Shakopee.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Shakopee. Plus, shopping lenders is free and there is no obligation.
Loan terms assume conforming mortgage amount on single family residence, 80% LTV ratio and minimum borrower credit score of 740. $150,000 minimum mortgage amount. Borrower is responsible for $1,055 lender fee. Loan terms are subject to change without notice.
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Compare Today's Shakopee, MN Mortgage Rates
July 26, 2025
Current mortgage rates in Shakopee, MN are % for a 30 year fixed rate loan, % for a 15 year fixed loan and % for a 5/1 adjustable rate mortgage (ARM)
Mortgage Program
Today's Shakopee, MN Rates
National Average
Comparison
30 Year Fixed Rate
%
6.670%
15 Year Fixed Rate
%
5.960%
5/1 Adjustable Rate Mortgage
%
6.250%
How Affordable is Housing in Shakopee, Minnesota?
Below we provide helpful information on the real estate market, home prices and housing affordability in Shakopee. Understand how much you need to earn to afford a home in Shakopee, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Shakopee 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 Shakopee is right for you.
The median home value for Shakopee, MN (Scott County) is $396,685
Based on current mortgage rates and a 10% down payment, you need to make $82,755 per year to buy the median priced home in Shakopee
With this income, you could qualify for a $357,016 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 Shakopee is $1,916
The median household income for Shakopee, MN (Scott County) is $108,549
Based on this income, you can afford a home valued at approximately $520,329
The home price you can afford to buy based on household income in Shakopee is 131% of the median home value which means housing prices are average.
Shakopee (Scott County) ranks 70 out of 87 counties in Minnesota and 2,301 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Shakopee, MN is average
Loan Limits for Shakopee, Minnesota
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Shakopee (Scott County) below.
Conforming loan limits for Shakopee, MN
1 unit:$726,200
2 units:$929,850
3 units:$1,123,900
4 units:$1,396,800
FHA loan limits for Shakopee, MN
1 unit:$515,200
2 units:$659,550
3 units:$797,250
4 units:$990,800
VA loan limits for Shakopee, MN
1 unit:$726,200
Additional Mortgage Resources for Shakopee, MN Residents