Sat. Feb 27th, 2021

You are not the only person considering buying a home in the state of North Dakota. There are about 378,000 in this state. housing units And according to the US Census Bureau, a homemade rate of 63% 2018 American Community Survey.

North Dakota’s average housing price is relatively inexpensive at $ 198,700, compared with a national average of $ 229,700. Home values ​​vary by region and property characteristics.

US News’ Best North Dakota Mortgage 2020 Lenders

Best for large loan amount

Bank of America serves approximately 66 million customers in all 50 states. The lender offers traditional, Federal Housing Administration, Department of Veterans Affairs and Jumbo loans, as well as home equity lines of credit and mortgage refinancing.

Before you apply

  • Mortgage Type: Fixed Rate, Affordable Loan Solution, FHA, VA, ARM, Home Equity Line of Credit, Fixed-Rate Refinancing, FHA Refinancing, VA Refinancing, Cash-Out Refinancing, Adjustable-Rate Refinancing, Jumbo
  • Minimum FICO Credit Score: not disclosed
  • Maximum loan amount: $ 2.5 million
  • Better Business Bureau Rating: A +

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  • Bank of America has a variety of mortgage products.

  • The lender offers discounts on qualification fees for customers of Bank of America and Merrill Lynch.

  • There are no annual, application or cash advance fees or closing costs of home equity lines of credit.

  • Bank of America offers a homebuyer program for the first time.

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Best for low cost

Chase, one of the largest banks in the country, offers mortgages, refinance loans and home equity loans to qualified borrowers.

Before you apply

  • Mortgage Type Offered: Traditional, ARM, Customizing, FHA, Dramaker, VA, Jumbo, Refinance
  • Minimum FICO Credit Score: Is 620
  • Maximum loan amount: $ 3 million
  • Better Business Bureau Rating: A +

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  • Payments as low as 3% are accepted.

  • Fixed- and adjustable-rate mortgages are available.

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Best for product selection

Guild Mortgage, established in 1960, specializes in home loans and serves lenders around the country. The complete lender of products includes traditional and government-backed mortgages and home renovation loans.

Before you apply

  • Mortgage Type: Traditional, FHA, VA, USDA, ARM, Refinance, Renewal, Jumbo
  • Minimum FICO Credit Score: Is 620
  • Maximum loan amount: $ 2 million
  • Better Business Bureau Rating: A +

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  • A wide range of mortgage products are offered.

  • Special mortgage programs are available for first time buyers and manufactured homebuyers.

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Best for customer service

LonDepot is an online lender operating with over 200 in-person branches in all 50 states. The company was founded in 2010 and is headquartered in Southern California. LoanDepot provides home equity and refinance loans to the Federal Housing Administration and the Department of Veterans Affairs.

Before you apply

  • Mortgage Type: Refinance, Jumbo, Hybrid ARM, Fixed Rate, HARP, VA, FHA, 203k Loans
  • Minimum FICO Credit Score: Is 620
  • Maximum loan amount: $ 3 million
  • Better Business Bureau Rating: A +

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  • LoanDepot mortgages have a lifetime guarantee, meaning that if you ever decide to refinance an existing LoanDepot loan, the company will waive the lender fee and reimburse the appraisal fee.

  • The company offers a variety of mortgage products.

  • It is licensed in all 50 states.

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Best for product availability

Quick Loan is a nationwide mortgage lender with several mortgage options. Known for customer service, the lender has an A + Better Business Bureau rating and received a rating of five (out of the best) in the 2018 US Primary Mortgage Organization Satisfaction Study.

Highlights:

  • Mortgage Type Offered: ARM, FHA, VA, Refinance (FHA), USDA, Traditional, Refinance (Traditional)
  • Minimum FICO Credit Score: 580 (FHA), other loans vary
  • Maximum debt-to-income ratio: 60%
  • JD Power Satisfaction Rating: Five out of five

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  • The complete loan procedure is available online.

  • Wide variety of mortgage products.

  • Good customer service rating.

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Best for va loan

Giants United Home Loans provides mortgages to veterans and military families in all 50 states and Washington, DC, and specializes in VA loans.

Before you apply

  • Mortgage Type: VA, VA Jumbo, Refinance
  • Minimum FICO Credit Score: 640 is
  • Maximum loan amount: $ 1.5 million
  • Better Business Bureau Rating: A +

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  • No down payment or PMI required.

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What are the mortgage rates in North Dakota?

Average interest rate for a 30 year fixed rate Customizing Mortgage in North Dakota 3%.

House interest rates Range from 2.5% to 3.75% In North Dakota.

What are today’s mortgage rates?

Loan type

Rate of this week

Last week rate

30-Year Fixed Rate Mortgage 2.86% 2.91%
15-Year Fixed Rate Mortgage 2.36% 2.39%
30-Year Fixed-Rate Jumbo Mortgage 2.89% 2.95%
5/1 ARM 2.98% 2.99%
5/1 Jumbo ARM 2.97% 2.98%

* Rates up to January 25, 2021

mortgage calculator

Are you reaching your dream home? US News’ mortgage calculator will show you how much home you can buy.

What are some North Dakota homebuyer programs?

North Dakota homebuyers in North Dakota Housing Finance Agency (NDHFA) can get help with payment and closing costs from programs.

  • available to: First-time homebuyers or buyers who have not had a major residence in the last three years.
  • Income Range: Different by region and household size (Revenue Range) is.
  • Homebuyers for the first time only ?: No.
  • Benefit: Usable with DCA or START program.

  • available to: Single parents with at least one dependent child living in at least 50% of the household; Active military, naval or air personnel; Those who were deported other than dishonest and their spouse; Or who are themselves, or their spouse or dependents, who are permanently disabled or 65 or living in the home.
  • Income Range: Different by county and household size (Revenue Range) is.
  • Homebuyers for the first time only ?: No.
  • Benefit: Usable with DCA or START program.

  • available to: Worthy North Dakota Homebuyers.
  • Income Range: Different from county (Revenue Range) is.
  • Homebuyers for the first time ?: No.
  • Benefit: Can be used with the start program.

  • available to: Qualified North Dakota homebuyers in targeted areas.
  • Income Range: Different by county and household size (Revenue Range) is.
  • Homebuyers for the first time only ?: No.
  • Benefit: Can be used with DCA or START programs.

  • available to: Eligible North Dakota homebuyers purchase undelivered homes in the 100-year floodplain.
  • Income Range: Vary by county and family size (Revenue Range) is.
  • Homebuyers for the first time ?: No.
  • Benefit: Borrowers can get payment and closing cost assistance. It can be used with FirstHome, Targeted Area Loans or HomeOak Mortgage programs.

  • available to: Purchase of eligible North Dakota homebuyers eligible homes.
  • Income Range: Available to low-to-middle-income buyers.
  • First time homebuyers ?: No.
  • Benefit: Borrowers can get payment and closing cost assistance. The program can be used with the FirstHome, HomeAct, North Dakota Routes and Targeted Area Loan programs.

Advertisement Disclosure: Some of the loan offers on this site are from companies that are advertising customers of US News. Advertising ideas can influence offers that appear on the site, but do not affect any editorial decisions, such as which loan products we write about and how to evaluate them. This site does not include all loan companies or all loan offers available in the market.

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