The calculator below is pre-filled with Ramsey County's own property tax rate and insurance average (expand "More options" to see or edit them) — not just Minnesota's statewide figures.

Ramsey County at a glance

Effective property tax rate: 1.27% of home value / year
Median home price: $324,107
Homeowners insurance (avg/year): $2,662
Conforming loan limit (1-unit, 2026): $832,750

County data last updated 2026-08-20. FIPS 27123. Full source list on /methodology.

Ramsey County, MN mortgage payment calculator

All-in cost first, always — pre-filled with Ramsey County tax and insurance figures. Estimate only, not a loan quote or pre-approval.

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Closing Costs in Minnesota: What You'll Actually Pay

Minnesota taxes both the sale and the loan. On a $375,000 home with 20% down that's $1,238 in deed tax plus $690 in mortgage registry tax, before a single lender fee.

Guides & templates

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Minnesota at a glance

Median home price: $375,000
Typical closing costs: 2%–5% of price
Transfer tax: 0.33% of sale price, customarily paid by seller
Closing custom: escrow
Homestead exemption: Minnesota's Homestead Market Value Exclusion (enacted 2011, replacing the old homestead credit) reduces the TAXABLE market value (not the tax bill directly) for owner-occupied homestead property. Homes valued at $95,000 or less get a 40% exclusion (max $38,000); the exclusion shrinks as value rises — for homes between $95,000 and $517,200 it's $38,000 minus 9% of the value over $95,000 — and phases out entirely at $517,200+. Applied automatically once a property is classified as homestead with the county assessor (a one-time application is required to establish homestead classification, but the exclusion itself needs no separate action).

First-time buyer / down payment assistance programs

Minnesota Housing Start Up Loan Program
Minnesota Housing's (the state HFA) primary fixed-rate first mortgage for first-time homebuyers statewide (defined as not having owned a principal residence in the prior 3 years), offered through participating lenders with competitive below-market rates; can be paired with an optional down payment and closing cost loan.
Minnesota Housing Monthly Payment Loan / Deferred Payment Loan (down payment assistance)
Down payment and closing cost assistance paired with a Start Up (or Step Up) first mortgage: the Monthly Payment Loan offers up to $18,000 at the same rate as the first mortgage, repaid monthly over 10 years; a Deferred Payment Loan variant is also available with no monthly payment, repaid at sale/refinance/payoff. Borrower must contribute at least $1,000 of their own funds toward the purchase.