Mortgage Rates in Shoreview, Minnesota — March 2026
Updated March 2026 | Based on Shoreview market data and regional lending conditions
Shoreview is a growing city in Minnesota with a population of 27,076. The current 30-year fixed mortgage rate in Shoreview is 6.67%, which is 0.02% above the national average. With a median home price of $273,000 and a 20% down payment of $54,600, homebuyers can expect a monthly principal and interest payment of approximately $1,405.
Current Mortgage Rates in Shoreview, MN
Below are the current average mortgage rates available in the Shoreview area as of March 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.67% | 6.65% | +0.02% |
| 15-Year Fixed | 5.93% | 5.89% | +0.04% |
| 5/1 ARM | 6.2% | 6.15% | +0.05% |
| FHA | 6.46% | 6.25% | +0.21% |
| VA | 6.21% | 6.05% | +0.16% |
| Jumbo | 6.92% | 6.85% | +0.07% |
Shoreview Housing Market Overview
The Shoreview housing market offers relatively affordable housing compared to many major cities. The median household income in Shoreview is $75,900, and the cost of living index is 93.5 (national average = 100). Based on the 28% affordability rule, the median income in Shoreview is sufficient to afford the median-priced home.
Monthly Payment Breakdown for Shoreview
Based on the median home price of $273,000 with 20% down ($54,600), here is what you can expect to pay monthly in Shoreview:
15-Year vs. 30-Year Mortgage in Shoreview
Choosing a 15-year mortgage in Shoreview at 5.93% instead of a 30-year at 6.67% would save you $175,500 in total interest over the life of the loan. However, your monthly payment would be $1,835 instead of $1,405 — an increase of $430 per month.
Calculate Your Shoreview Mortgage Payment
Use our free calculator to get a personalized estimate based on your loan amount, interest rate, and term.
Open Free CalculatorFrequently Asked Questions About Mortgages in Shoreview
What are the current mortgage rates in Shoreview, MN?
As of March 2026, the average 30-year fixed mortgage rate in Shoreview, Minnesota is 6.67%, while the 15-year fixed rate is 5.93%. FHA loans average 6.46% and VA loans 6.21%. These rates are 0.02% above the national average of 6.65%.
How much is a monthly mortgage payment in Shoreview?
Based on the median home price of $273,000 with 20% down, the estimated monthly mortgage payment in Shoreview is $1,405 for principal and interest. Including property taxes of $239/month, the total monthly housing cost is approximately $1,644.
What income do I need to buy a home in Shoreview?
Using the 28% rule, you would need an annual income of approximately $70,457 to afford the median-priced home in Shoreview at $273,000. The median household income in Shoreview is $75,900. The median income is currently sufficient to meet this threshold.
Is Shoreview a good place to buy a home in 2026?
Shoreview offers a below-average cost of living with a cost of living index of 93.5 (national average = 100). The property tax rate in Minnesota is 1.05%, which is near the national average. Shoreview has a population of 27,076 and offers a very affordable lifestyle.
Mortgage Rates in Other Minnesota Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Shoreview, Minnesota area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.