Closing Costs in Minnesota: Mortgage Registry + Deed Tax

Minnesota has moderate closing costs (2-3% of home price). The state has two transfer-related taxes: a mortgage registry tax (0.23%, buyer-paid) and a deed transfer tax (0.33%, seller-paid). Property tax effective rate is moderate at 1.12%.

Use the calculator below — your state has already been selected. Adjust the home price, down payment, and loan type for an estimate calibrated to Minnesota.

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Estimates only — your actual closing costs depend on lender, property, locality, and the specifics of your transaction. Not financial advice. Verify all figures with a licensed lender or attorney. See our methodology below.

Minnesota closing cost structure

1. Mortgage Registry Tax

$2.30 per $1,000 of mortgage (0.23%), paid by the buyer. On a $300K mortgage, that's $690.

2. Deed Transfer Tax

$3.30 per $1,000 of home value (0.33%), paid by the seller.

3. Title insurance and escrow

MN title insurance is competitive — combined premium ~0.5% of home value.

4. No attorney required

MN uses title agent / settlement company closings.

How to reduce MN closing costs

  1. Negotiate seller concessions — MN allows 3-9% seller-paid depending on loan type.
  2. Shop title insurance. MN title pricing varies.
  3. Get three Loan Estimates from MN lenders.
  4. Verify the mortgage registry tax on your Loan Estimate — it should appear clearly.
  5. Watch HOA / association fees on Twin Cities condos.

Frequently asked questions (Minnesota)

Who pays the mortgage registry tax in Minnesota?

The buyer pays Minnesota's mortgage registry tax (0.23% of the mortgage amount). On a $300K mortgage, that's $690 at closing.

Does MN require an attorney for closings?

No. Minnesota uses title agent / settlement company closings. An attorney is optional.

Who pays the MN deed transfer tax?

By convention, the seller. The deed transfer tax is 0.33% of home value, paid at recording.

Closing costs on a $300K Minnesota home?

Approximately $5,500-$8,500 for the buyer. Mortgage registry tax (~$550), title insurance ($1,500), prepaid escrows ($1,200), lender fees ($2,250).

About these estimates

The calculator above uses Minnesota state averages for transfer taxes, recording fees, title insurance, attorney requirements, and property tax rates — sourced from the Minnesota Department of Revenue, the 2024 ClosingCorp survey, the Tax Foundation 2024 property tax rankings, and state-specific regulatory tariffs. Real closing costs depend on your specific lender, the property, and the county-level rules where you're buying. For a sanity check on the calculator's output, request a Loan Estimate from your lender (federal law requires one within 3 business days of mortgage application).

Related

Reviewed by the CalcCottage editorial team. Updated May 14, 2026. Estimates only — not financial advice.

Closing costs in other states