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Home Mortgage Payment Report: Twin Cities

See what you can afford right now! The Q3 Report
MGIC Home Payment Report

About the Report

Trusted resource

Get an idea of what your mortgage payment would be depending on the area and type of home you’re interested in.

Valuable knowledge

The Report uses a 10% down payment ─ however, you may be able to buy with as little as a 3% down payment.

Key insights

Did you know you can even use a gift for your down payment?

Accurate data

The Report is based on local home sales data from MLS Minneapolis Area Association of Realtors.

With a rental vacancy rate of less than 3%, rents are going up like crazy, and in many instances, it’s cheaper to own than to rent.

Cotty Lowry

MAAR President

Saving up 20% of a home’s purchase price can be a challenge, but leveraging private mortgage insurance allows homebuyers to get into a home for less money down.

Vance Edwards

Program Manager

Whether you’re a first-time buyer or a seller looking to move up, right now your buying power is as strong as it’s likely to be for the foreseeable future.

Kath Hammerseng

MAAR President-Elect