Not financial advice. Mortgage FV Calculator is a software calculator, not a personal-finance product or advisory service. It computes standard financial functions and displays the results for your convenience. Nothing here constitutes, or is intended to constitute, financial, investment, tax, legal, mortgage, credit, or insurance advice. Always consult a qualified professional before making any financial decision.
Bloomington mortgage calculator
A median-priced Bloomington, MN home at 6.75% over 30 years, with Minnesota property tax of 1.05% and $2,400 a year of homeowners insurance. Every figure below is computed on our amortising engine — nothing is estimated in the browser.
$2,865 a month, all in
Principal and interest are $2,183; escrow and PMI add the rest. Over the full term the loan costs $449,345 in interest. Discounted at 5%, buying here has a net present value of $30,757 ($261,595 in today’s dollars).
Within Minnesota, Bloomington is the most expensive of the 5 Minnesota markets covered here. Prices here run 1.47x those in Duluth, the cheapest market listed, so a statewide average badly understates what a purchase costs on this side of the state.
Bloomington carries a premium over the rest of Minnesota: a median home here runs $374,000, about 10% above the state median of $340,000. The deposit moves with it, so the same 20% down is $74,800 rather than $68,000.
A price-to-rent ratio of 18.6 puts Bloomington in the middle of the range, where the rent-vs-buy answer is decided by how long you stay and what the deposit would otherwise earn.
Monthly cost in Bloomington vs comparable rent
Owning is stacked by component; renting is the local median asking rent.
The monthly breakdown
| Median home price | $374,000 |
|---|---|
| Down payment (10%) | $37,400 |
| Loan amount | $336,600 |
| Principal & interest | $2,183/mo |
| Property tax (1.05%) | $327/mo |
| Homeowners insurance | $200/mo |
| PMI while above 80% LTV | $154/mo |
| Total monthly payment | $2,865/mo |
| Comparable rent | $1,674/mo |
What a rate move does to the Bloomington payment
| Rate | Principal & interest |
|---|---|
| 5.5% | $1,911/mo |
| 6% | $2,018/mo |
| 6.5% | $2,128/mo |
| 7% | $2,239/mo |
| 7.5% | $2,354/mo |
| 8% | $2,470/mo |
Rent or buy in Bloomington?
Against $1,674 a month in rent, over 7 years renting leaves you about $74,081 better off — $62,322 once 2.5% inflation is stripped out. See the Minnesota rent-vs-buy page.
Where these numbers come from
Minnesota medians come from editorial and are refreshed weekly. The Bloomington figures index those state medians to the local market, so they track the same feed rather than going stale. Insurance and the state income tax rate are editorial. Treat everything here as a planning estimate, not a quote.