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For buyers

What will this home really cost each month?

The listing price is only the start. See the full monthly payment with property taxes, insurance, and mortgage insurance, plus the cash you'll need at closing.

Your numbers

Property tax is estimated from the town's median effective rate until you type your own. Use the actual taxes shown on the listing when you have them.

Estimated monthly cost
$0
Principal and interest
$0
Property tax
$0
Home insurance
$0
Mortgage insurance (PMI)
$0
HOA dues
$0

Cash needed at closing
$0
Down payment
$0
Minnesota mortgage registry tax (0.23% of loan)
$0
Other closing costs (est. 2.5% of loan)
$0

First-time buyer?

Minnesota Housing offers first-time buyer loans and down payment assistance through approved lenders. Eligibility depends on income and purchase price.

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Where these numbers come from
  • Property tax: median effective rates from Ownwell (Duluth 1.34%, Hermantown 1.46%, Proctor 1.49%, Cloquet 1.44%). Two Harbors uses Ownwell's Minnesota statewide median of 1.13% because its local figure looked unreliable. Rentals lose the homestead market value exclusion, so they usually pay more. See the property tax guide.
  • Mortgage registry tax: 0.23% of the loan amount, paid by the borrower, per the Minnesota Department of Revenue.
  • Home insurance: Minnesota average of about $208 per month ($2,492 per year), MoneyGeek, August 2026. Older homes and higher coverage cost more.
  • Mortgage insurance: applied when you put down less than 20%, estimated at $50 per month for every $100,000 borrowed, the middle of Freddie Mac's typical $30 to $70 range. FHA and VA loans work differently.
  • Closing costs: Freddie Mac says closing costs typically run 2% to 5% of the loan amount. This estimate uses 2.5% plus the registry tax.

Estimates only, for planning. Not a loan quote, a rate offer, or a guarantee of any cost. Your lender provides the official Loan Estimate.