Average Loan Estimate Fees in Minnesota (2024)
Last Updated: April 2026 · Data: Optimal Blue OBMMI via Federal Reserve FRED API
Minnesota Average
$5,090
Total lender & third-party fees
National Average
$6,300
Minnesota is 19% below the national average
Fee-by-Fee Breakdown (2024)
| Fee Type | Minnesota | National | Negotiable? |
|---|---|---|---|
| Origination Fee | $1,450 | $1,785 | Yes |
| Underwriting Fee | $760 | $815 | Yes |
| Processing Fee | $470 | $610 | Yes |
| Application Fee | $195 | $255 | Yes |
| Rate Lock Fee | $235 | $305 | Yes |
| Appraisal Fee | $395 | $510 | No |
| Title Insurance | $910 | $1,275 | No |
| Settlement Fee | $490 | $510 | Yes |
| Document Prep Fee | $160 | $205 | Yes |
| Flood Certification | $25 | $30 | No |
| Total | $5,090 | $6,300 |
Mortgage Closing Costs in Minnesota
In 2024, borrowers in Minnesota can expect total loan estimate fees of approximately $5,090 on average — 19% lower than the national average of $6,300. The lower costs in Minnesota reflect a competitive local lending market and relatively lower operating costs for title and settlement services. Of the fees listed above, the negotiable ones represent your best opportunity to reduce out-of-pocket closing costs — simply asking your lender to reduce or waive these fees before closing can save hundreds of dollars.
Data Note
Fee benchmarks reflect 2024 market conditions. Lender fees have trended approximately 2% higher per year since 2023 due to operational cost increases. Actual fees on your Loan Estimate may vary by lender, loan type, and loan amount.
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