Minnesota Mortgage Calculator
Estimate the monthly PITI payment on a Minnesota home. Preseeded with the state’s 1.11% effective property-tax rate, $2,100 average annual insurance, and $330,000 median home price.
Loan Parameters
$
$
Percentage
20.0 %
Loan Term
Advanced Options
$
Monthly Payment (PITI)
$2,259
- Principal & Interest
- $1,669
- Property Taxes
- $305
- Home Insurance
- $175
- PMI
- $110
Total Interest
$336,717
Total Cost
$773,607
Payoff Year
2056
Minnesota Property Tax, Insurance & Home Prices
- Effective property-tax rate
- 1.11%
- Avg annual insurance
- $2,100
- Median home price
- $330,000
Statewide averages, last reviewed May 2026. Actual rates and premiums vary significantly by county, city, and parcel — see the notes below.
Notable Minnesota Rules
Minnesota offers a Homestead Market Value Exclusion that reduces taxable value for homes under ~$413,000. The state also has a property-tax refund (“circuit-breaker”) for homeowners whose tax exceeds a percentage of household income.
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Frequently Asked Questions
- Minnesota's statewide effective property-tax rate is approximately 1.11% of home value (last reviewed May 2026). Actual county- and city-level rates vary; check your specific parcel before budgeting.