Minnesota Mortgage Information

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Current Mortgage Rates
Type of Loan	Rate*        APR*
5 Year ARM	5.821% 5.033%
15 Year Fixed	5.243% 5.288%
30 Year Fixed	5.729% 5.717%
Home Equity Loan	7.420% 5.740%
HELOC	6.305% 6.990%
*Rates & APRs are based on Rate Observer .

Searching for a home equity loan in Minnesota?  Home Equity Info can help. We provide information on: Minnesota 125 Cash Out Home Equity Loans, Minnesota Cash Out Home Equity Loans, Minnesota Refinance Loans, Minnesota Bad Credit Home Equity Loans, Minnesota Home Equity Lines of Credit (HELOC), and Minnesota Second Mortgages.  We can also help if you are just looking for more information about Minnesota Home Equity Loans in general.

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Worried about the lender?  We are too, so that is why we list out and provide information on all types of Minnesota home equity lenders including Credit Unions, Banks, Mortgage Brokers, or Savings and Loans.

Some quick facts on Minnesota owner occupied homes with a mortgage¹ :

• The median Minnesota home price is $194,731.
• 74% of Minnesota home owners have only a single mortgage.
• Only 1.1% of home owners in Minnesota have both a second mortgage and a home equity loan.
• While the median income for all of Minnesota is $62,538, the median income for Minnesota owner occupied homes with a mortgage is $68,324.
• The median monthly Minnesota housing cost is $1,260.
• Minnesota Median Annual real estate taxes are $1,600.
• While the national average Expedian Credit score is 678, the average for Minnesota is 707.
• Non-business bankruptcies in Minnesota have gone from 13,822 in 2000 to 16,596 in 2004.

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The state regulator for Minnesota mortgages is Gary A. LaVasseur

 STATE OF MINNESOTA
 Department of Commerce
 Financial Examinations
 85 7th Place East, Suite 500
 Saint Paul, Minnesota 55101

Phone: (651) 296-2715
Fax: (651) 296-8591

Website: http://www.commerce.state.mn.us

The Financial Examinations Division of the Minnesota Department of Commerce regulates mortgage lenders. The Real Estate Division of the Minnesota Department of Commerce regulates mortgage brokers.

Minnesota’s licensing statute for mortgage lenders was originally enacted in 1988. Minnesota’s licensing statute for mortgage brokers was originally enacted in 1971. In 1998, Minnesota enacted a new statute that regulates both mortgage lenders and mortgage brokers. This statute became effective in August 1999² .

Minnesota Counties:

Atkin County, Anoka County, Becker County, Beltrami County, Benton County, Big Stone County, Blue Earth County, Brown County, Carlton County, Carver County, Cass County, Chippewa County, Chisago County, Clay County, Clearwater County, Cook County, Cottonwood County, Crow Wing County, Dakota County, Dodge County, Douglas County, Faribault County, Filmore County, Freeborn County, Goodhue County, Grant County, Hennepin County, Houston County, Hubbard County, Isanti County, Itasca County, Jackson County, Kanabec County, Kandiyohi County, Kittson County, Koochiching County, Lac qui Parle County, Lake County, Lake of the Woods County, Le Sueur County, Lincoln County, Lyon County, McLeod County, Mahnomen County, Marshall County, Martin County, Meeker County, Mille Lacs County, Morrison County, Mower County, Murray County, Nicollet County, Nobles County, Norman County, Olmsted County, Otter Tail County, Pennington County, Pine County, Pipestone County, Polk County, Pope County, Ramsey County, Red Lake County, Redwood County, Renville County, Rice County, Rock County, Roseau County, St. Louis County, Scott County, Sherburne County, Sibley County, Stearnes County, Steele County, Stevens County, Swift County, Todd County, Traverse County, Wabasha County, Wadena County, Waseca County, Washington County, Watonwan County, Wilkin County, Winona County, Wright County, Yellow Medicine County

Source
-US Census

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This site is not a broker and does not collect or solicit mortgage applications. Content is for informational or comparison purposes only. Services are not available in New York. Products and services may not be available in all other states.