St. Paul

Current Mortgage Rates in St. Paul, Minnesota

Compare mortgage rates and fees for leading lenders in St. Paul, 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 St. Paul.

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

Mortgage Rates in St. Paul, MN as of September 20, 2020
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Data provided by Brown Bag Marketing, Inc. Payments do not include amounts for taxes and insurance premiums. Read through our lender table disclaimer for more on rates and product details.


How Do Today's St. Paul, MN Mortgage Rates Compare?

September 20, 2020

The current average rate for a 30 year fixed rate mortgage in St. Paul 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
St. Paul, MN Rates
30 Year Fixed Rate
15 Year Fixed Rate
5/1 Adjustable Rate Mortgage

How Affordable is Housing in St. Paul, Minnesota?

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

The median home value for St. Paul, MN (Ramsey County) is $264,553

Based on current mortgage rates and a 10% down payment, you need to make $47,613 per year to buy the median priced home in St. Paul

With this income, you could qualify for a $238,098 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 St. Paul is $1,103

The median household income for St. Paul, MN (Ramsey County) is $63,596

Based on this income, you can afford a home valued at approximately $353,362

The home price you can afford to buy based on household income in St. Paul is 134% of the median home value which means housing prices are average. St. Paul (Ramsey County) ranks 85 out of 87 counties in Minnesota and 2,741 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in St. Paul, MN is average


Loan Limits for St. Paul, Minnesota

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for St. Paul (Ramsey County) below.

Conforming loan limits for St. Paul, MN

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

FHA loan limits for St. Paul, MN

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

VA loan limits for St. Paul, MN

1 unit: $510,400

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