Mortgage Rates in Thief River Falls, Minnesota — March 2026
Updated March 2026 | Based on Thief River Falls market data and regional lending conditions
Thief River Falls is a growing city in Minnesota with a population of 8,573. The current 30-year fixed mortgage rate in Thief River Falls is 6.82%, which is 0.17% above the national average. With a median home price of $276,000 and a 20% down payment of $55,200, homebuyers can expect a monthly principal and interest payment of approximately $1,442.
Current Mortgage Rates in Thief River Falls, MN
Below are the current average mortgage rates available in the Thief River Falls 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 | 6.82% | 6.65% | +0.17% |
| 15-Year Fixed | 6.04% | 5.89% | +0.15% |
| 5/1 ARM | 6.29% | 6.15% | +0.14% |
| FHA | 6.53% | 6.25% | +0.28% |
| VA | 6.28% | 6.05% | +0.23% |
| Jumbo | 7.07% | 6.85% | +0.22% |
Thief River Falls Housing Market Overview
The Thief River Falls housing market offers relatively affordable housing compared to many major cities. The median household income in Thief River Falls is $65,700, and the cost of living index is 97.5 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $73,329 to comfortably afford the median-priced home in Thief River Falls, which exceeds the current median household income.
Monthly Payment Breakdown for Thief River Falls
Based on the median home price of $276,000 with 20% down ($55,200), here is what you can expect to pay monthly in Thief River Falls:
15-Year vs. 30-Year Mortgage in Thief River Falls
Choosing a 15-year mortgage in Thief River Falls at 6.04% instead of a 30-year at 6.82% would save you $182,880 in total interest over the life of the loan. However, your monthly payment would be $1,868 instead of $1,442 — an increase of $426 per month.
Calculate Your Thief River Falls 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 Thief River Falls
What are the current mortgage rates in Thief River Falls, MN?
As of March 2026, the average 30-year fixed mortgage rate in Thief River Falls, Minnesota is 6.82%, while the 15-year fixed rate is 6.04%. FHA loans average 6.53% and VA loans 6.28%. These rates are 0.17% above the national average of 6.65%.
How much is a monthly mortgage payment in Thief River Falls?
Based on the median home price of $276,000 with 20% down, the estimated monthly mortgage payment in Thief River Falls is $1,442 for principal and interest. Including property taxes of $269/month, the total monthly housing cost is approximately $1,711.
What income do I need to buy a home in Thief River Falls?
Using the 28% rule, you would need an annual income of approximately $73,329 to afford the median-priced home in Thief River Falls at $276,000. The median household income in Thief River Falls is $65,700. This means most households would need to either earn above the median or consider homes below $276,000.
Is Thief River Falls a good place to buy a home in 2026?
Thief River Falls offers a below-average cost of living with a cost of living index of 97.5 (national average = 100). The property tax rate in Minnesota is 1.17%, which is near the national average. Thief River Falls has a population of 8,573 and offers a balanced 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 Thief River Falls, Minnesota area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.