Closing Cost Calculator for Minnesota

Closing Costs in Minnesota

Buyers in Minnesota typically pay around $3,600 in total closing costs. Minnesota imposes a mortgage registration tax of 0.23% of mortgage amount in addition to standard deed taxes. These add meaningfully to closing costs for buyers with financing.

What's Included in Minnesota Closing Costs?

• Transfer & recording taxes: Minnesota imposes a mortgage registration tax of 0.23% of mortgage amount in addition to standard deed taxes. These add meaningfully to closing costs for buyers with financing.
• Lender fees: Origination, underwriting, and processing fees — typically 0.5–1% of the loan amount regardless of state.
• Title insurance: Owner's and lender's policies, required in most Minnesota transactions.
• Prepaid items: First year homeowner's insurance premium, prepaid property tax escrow, and prepaid interest.
• Escrow/attorney fees: Minnesota typically uses title companies or escrow agents to close real estate transactions.

Home Values & Loan Context

With a median home value of $315,000 in Minnesota, a 10% down payment buyer would borrow around $284,000. The conforming loan limit is $726,200 — All Minnesota counties are at the standard conforming limit.

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