Mortgage Refinance Rates in Scott County, Minnesota (2026)
Homeowners in Scott County — anchored by Scott County — are watching refinance rates closely. On a typical $244,000 balance, dropping from about 7.50% to 6.25% trims roughly $204 a month off principal and interest.
How much you could save near Scott County
The payment comparison below uses a typical $244,000 Scott County balance at example rates:
| Monthly Principal & Interest | Amount |
|---|---|
| Current loan at ~7.50% | $1,706 |
| After refinancing at ~6.25% | $1,502 |
| Estimated monthly savings | $204 |
These are example figures for Scott County; a lender will price your exact rate from your file. Get alerts when rates drop.
Savings by balance in Scott County
How monthly savings scale with balance near Scott County:
| Balance | Now (~7.50%) | Refi (~6.25%) | Monthly Saved |
|---|---|---|---|
| $171,000 | $1,196 | $1,053 | $143 |
| $244,000 | $1,706 | $1,502 | $204 |
| $329,000 | $2,300 | $2,026 | $275 |
Scott County refinance payments at today's rates
How the Scott County payment on $244,000 changes with the rate you lock:
| Rate | 30-yr P&I | 15-yr P&I |
|---|---|---|
| 5.50% | $1,385 | $1,994 |
| 5.75% | $1,424 | $2,026 |
| 6.00% | $1,463 | $2,059 |
| 6.25% | $1,502 | $2,092 |
| 6.50% | $1,542 | $2,126 |
| 6.75% | $1,583 | $2,159 |
| 7.00% | $1,623 | $2,193 |
A 15-year refinance of $244,000 near Scott County runs about $2,092/month versus $1,502 on a 30-year — a higher payment near Scott County but far less total interest over the life of the Scott County loan.
Tapping Scott County equity
Sitting on equity? A cash-out refinance in Scott County can go up to 80% of value — about $43,200 in your pocket on the numbers above — for renovations, debt payoff, or investing.
| Cash-Out Figure | Amount |
|---|---|
| Estimated home value | $359,000 |
| Typical current balance | $244,000 |
| 80% LTV ceiling (new loan) | $287,200 |
| Estimated cash available | $43,200 |
In Scott County, Minnesota, property taxes average roughly 1.11% of value, so escrow on a $359,000 home adds about $332/month beyond principal and interest. A $244,000 balance sits near 68% loan-to-value, leaving about $115,000 in equity — room for a rate-and-term refinance now and a cash-out later around Scott County.
When a Scott County refinance becomes jumbo
Scott County's 2026 conforming limit is $806,500 for a single-family home — the national baseline used across most of the Midwest. Refinance a balance above it and you are in jumbo territory, which carries its own rates and guidelines.
- Scott County value about $359,000 with a $244,000 balance (~68% LTV).
- Monthly savings near $204; break-even around month 30 on $6,100 of costs.
- Five-year net of about $6,124 and cash-out room near $43,200.
- Conforming limit $806,500; current equity roughly $115,000 near Scott County.
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Frequently Asked Questions
- What could a refinance save me in Scott County?
- On a typical $244,000 balance, moving from about 7.50% to 6.25% saves roughly $204/month in principal and interest. Your savings depend on your current rate, balance, and term.
- What is my cash-out limit in Scott County?
- Conventional cash-out refinances are capped at 80% of appraised value. On an estimated $359,000 Scott County home with a $244,000 balance, that is about $43,200 in available cash.
- When does a Scott County refinance turn jumbo?
- The 2026 conforming limit is $806,500 for a one-unit home (the national baseline). Refinances above that are jumbo loans.
- How fast do I break even in Scott County?
- Divide your closing costs (about $6,100 here) by your monthly savings. In this example you break even near month 30 — refinance only if you will keep the home past that.
- How much equity is in a typical Scott County-area home?
- On an estimated $359,000 value with a $244,000 balance, that is about $115,000 in equity — roughly 32%. A conventional cash-out requires you to keep 20%.
- Is now a good time to refinance in Scott County?
- A common rule of thumb: refinance when you can cut your rate by about 0.75 to 1% and stay past your break-even (near month 30 here). On a $244,000 Scott County balance, that move is worth roughly $204 a month.