Loan Estimate Challenges
Minnesota’s Biggest LE Challenges

The “Land of 10,000 Lakes,” Minnesota is the nation’s 12th largest state in terms of size.

Recording fees

In Minnesota, there is a single, flat recording fee applicable statewide. It is of note that, if a well certificate is recorded with the deed, the deed fee increases by $50. 

Transfer taxes

Mortgage and deed taxes apply statewide in Minnesota. The rates are mostly uniform, with the exception of the taxes applied in Hennepin and Ramsey counties.

Finally, a conservation fund fee is applicable in select Minnesota counties. This amounts to a $5 charge per mortgage and another $5 for the deed.