Martin County, Minnesota
Mortgage Rate Alerts
Never Miss A Refinance
Opportunity
Always on mortgage monitoring without hurting your credit.
Instant email and text alerts.
A Better Mortgage In 3 Easy Steps
Sign up
Provide some basic info, no SSN required
Start getting alerts
For refinance via email and texts
Apply and close
The new loan and start saving money
1 Platform, 6 Refinance Alerts
01
Alert for Lower Rates
02
Alert for Cash Out
03
Alert for Shorter Term
04
Alert for Eliminating PMI
05
Alert for Product Changes
06
Alert for Changes in Home Value
Martin Real Estate Market Update
The real estate market in Martin County, Minnesota, is currently experiencing a seller's market, with median home prices reaching $169,500 as of October 2024. This represents a 9.4% increase from the previous year, with homes selling at an average of $105 per square foot. The market conditions suggest that homes are selling relatively quickly, often above the asking price, indicating strong demand in the area.
Fairmont is the largest city in Martin County, with a population of approximately 10,240. Other notable cities include Truman and Trimont, which contribute to the county's overall population of around 19,658.
Martin County offers a predominantly rural lifestyle with a strong emphasis on agriculture, being one of the largest producers of hogs, corn, and soybeans in Minnesota. The county's economy is heavily reliant on these agricultural industries, which attract residents seeking a quieter, farm-oriented lifestyle. The rural setting, combined with the affordability of housing, makes Martin County an appealing destination for those looking to escape urban environments.
2025 Mortgage Loan Limits:
Martin County, Minnesota
1 Unit
$806,500
Conforming Loans
$524,225
FHA Loans
2 Unit
$1,032,650
Conforming Loans
$671,200
FHA Loans
3 Unit
$1,248,150
Conforming Loans
$811,275
FHA Loans
4 Unit
$1,551,250
Conforming Loans
$1,008,300
FHA Loans
Questions About Refinancing in
Martin County
What is mortgage refinancing?
Refinancing is the process of replacing your current mortgage with a new one, often to secure a lower interest rate or change the loan terms.When should I consider refinancing?
Consider refinancing when interest rates drop, your credit score improves, or you want to switch from an adjustable-rate to a fixed-rate mortgage.How much does it cost to refinance?
Refinancing costs typically range from 2% to 5% of the loan amount, including closing fees, appraisal, and title fees.How long does the refinancing process take?
The refinancing process usually takes between 30 to 45 days, but this can vary based on lender efficiency and document preparation.What are the benefits of refinancing?
Refinancing can lower your monthly payments, reduce interest rates, shorten loan terms, or allow you to tap into home equity.What is cash-out refinancing?
Cash-out refinancing allows you to take out a new loan for more than your current mortgage balance and receive the difference in cash.Will refinancing hurt my credit?
Refinancing may cause a temporary dip in your credit score due to the hard inquiry, but the impact is usually minor and short-term.Can I refinance with bad credit?
It may be harder to qualify, but some lenders offer refinancing options for people with lower credit scores, though they often come with higher interest rates.How much equity do I need to refinance?
Most lenders require you to have at least 20% equity in your home to qualify for refinancing, though some programs may allow for lower equity percentages.Is it possible to refinance a rental property?
Yes, you can refinance an investment or rental property, though the terms and interest rates may be different compared to refinancing a primary residence.
Never Miss A Refinance Opportunity
Always on mortgage monitoring. Instant email and text alerts.
