Cost to buy a home in MN

The cost to buy a home in MN varies with EVERY single home purchase that takes place. In order to get a really great estimate, one should meet with a lender to discuss their options. The costs associated with a home purchase in MN are mortgage, title, and government fees Often these fees can be paid by the seller or be a part of the mortgage. A great Realtor can help guide you through these costs. Below are good estimations of the cost to purchase a home in MN.


1. Earnest Money – $1,000 (Or More, Amount is Optional)
2. Private Home Inspection – $350 – $500
3. Liability Home Owner’s Insurance – $1000-$2000 (Consult your insurance provider)
4. Appraisal – $450 (Some Lenders allow this at closing)

Total Pre Paid Expenses : $3000

1. Mortgage Fees – 1 – 5% of the Purchase Price
2. Title Fees – $1,000 + (Depending on home price)
3. Down Payment – 3.5% + (Depending on Qualification)

Total Cost to Buy a Home in MN: Down Payment + Closing Costs : 6% + of Purchase Price

THERE ARE PROGRAMS THAT ALLOW BUYERS TO BUY A HOME FOR LITTLE OR NO MONEY DOWN!!! THESE PROGRAMS ARE HANDLED ON A CASE BY CASE BASIS. THE NUMBERS THAT ARE LISTED ON THIS SITE ARE FOR REFERENCE ONLY AND ARE NOT INTENDED AS A QUOTE. IN FACT, MORTGAGE COMPANIES & TITLE COMPANIES WILL PROVIDE THEIR QUOTE IN A GOOD FAITH ESTIMATE.

ALSO KEEP IN MIND THAT SOME OR ALL OF THE CLOSING COSTS CAN BE PAID BY THE SELLER.

YOU CAN REQUEST A BOOKLET IN THE BUYER’S MORE PAGE.


This page was created for prospective homeowners to not only search for homes, but to become an educated home buyer, to research information that is pertinent and relevant to buying in Minnesota. This page was created to research further the cost to buy a home in MN. For more information regarding buying a home, call Travis Anderson at 651-485-6383