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North Dakota’s Best Mortgage Lenders & Current Mortgage Rates

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You’re not the only one considering purchasing a home in the state of North Dakota. This state has nearly 378,000 housing units and a homeownership rate of 63%, according to the U.S. Census Bureau’s 2018 American Community Survey.

North Dakota’s median housing value is relatively affordable at $198,700, compared with the national median of $229,700. Home values vary by region and by property characteristics.

U.S. News’ Best North Dakota Mortgage Lenders of 2020

Chase

3% Min. Down Payment
620 Min. Credit Score

Lender

Learn More
3% Min. Down Payment
620 Min. Credit Score

Best for large loan amounts

Bank of America serves roughly 66 million customers in all 50 states. The lender offers conventional, 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 types: 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+

Best Features

  • Bank of America has a wide variety of mortgage products.

  • The lender offers origination fee discounts for qualifying Bank of America and Merrill Lynch clients.

  • Home equity lines of credit have no annual, application or cash advance fees or closing costs.

  • Bank of America offers a first-time homebuyer program.

See full profile

Best for low costs

Chase, one of the nation’s largest banks, offers mortgages, refinance loans and home equity loans for qualified borrowers.

Before You Apply

  • Mortgage types offered: conventional, ARM, conforming, FHA, DreaMaker, VA, jumbo, refinancing
  • Minimum FICO credit score: 620
  • Maximum loan amount: $3 million
  • Better Business Bureau rating: A+

Best Features

  • Down payments as low as 3% are accepted.

  • Fixed- and adjustable-rate mortgages are available.

See full profile

Best for product selection

Guild Mortgage, founded in 1960, specializes in home loans and serves borrowers nationwide. The lender’s full suite of products includes conventional and government-backed mortgages and home renovation loans.

Before You Apply

  • Mortgage types: conventional, FHA, VA, USDA, ARM, refinancing, renovation, jumbo
  • Minimum FICO credit score: 620
  • Maximum loan amount: $2 million
  • Better Business Bureau rating: A+

Best Features

  • A broad range of mortgage products are offered.

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

See full profile

Best for customer service

LoanDepot is an online lender operating in all 50 states with more than 200 in-person branches. The company was founded in 2010 and is headquartered in Southern California. LoanDepot offers Federal Housing Administration and Department of Veterans Affairs loans, as well as home equity and refinancing loans.

Before You Apply

  • Mortgage types: refinance, jumbo, hybrid ARM, fixed rate, HARP, VA, FHA, 203k loan
  • Minimum FICO credit score: 620
  • Maximum loan amount: $3 million
  • Better Business Bureau rating: A+

Best Features

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

  • The company offers a variety of mortgage products.

  • It’s licensed in all 50 states.

See full profile

Best for product availability

Quicken Loans 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 (among the best) in the 2018 U.S. Primary Mortgage Origination Satisfaction Study.

Highlights:

  • Mortgage types offered: ARM, FHA, VA, Refinancing (FHA), USDA, Conventional, Refinancing (conventional)
  • Minimum FICO credit score: 580 (FHA), other loans vary
  • Maximum debt-to-income ratio: 60%
  • J.D. Power satisfaction rating: Five out of five

Best Features

  • Complete loan process available online.

  • Wide variety of mortgage products.

  • Good customer service ratings.

See full profile

Best for VA loans

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

Before You Apply

  • Mortgage types: VA, VA jumbo, refinance
  • Minimum FICO credit score: 640
  • Maximum loan amount: $1.5 million
  • Better Business Bureau rating: A+

Best Features

  • No down payment or PMI are required.

See full profile

What Are the Mortgage Rates in North Dakota?

The average interest rate for a 30-year fixed-rate conforming mortgage in North Dakota is 3%.

Home interest rates range from 2.5% to 3.75% in North Dakota.

What Are Today’s Mortgage Rates?







Loan Types

This Week’s Rate

Last Week’s Rate

30-year fixed-rate mortgage 2.85% 2.84%
15-year fixed-rate mortgage 2.35% 2.33%
30-year fixed-rate jumbo mortgage 2.88% 2.88%
5/1 ARM 2.95% 3%
5/1 jumbo ARM 2.91% 2.93%

*Rates as of Feb. 8, 2021

Mortgage Calculator

Is your dream home within reach? U.S. News’ mortgage calculator will show you how much house you can afford.

What Are Some North Dakota Homebuyer Programs?

North Dakota homebuyers can get help with down payments and closing costs from these North Dakota Housing Finance Agency (NDHFA) programs.

  • Available to: First-time homebuyers or buyers who have not owned a principal residence in the last three years.
  • Income limits: Vary by area and household size (see income limits).
  • First-time homebuyers only?: No.
  • Benefits: Eligible to use with DCA or Start programs.

  • Available to: Single parents with at least one dependent child residing in the home at least 50% of the time; active military, naval or air servicemembers; those who were discharged other than dishonorably and their spouses; or those who are themselves, or have spouses or dependents who are, permanently disabled or are 65 or older residing in the home.
  • Income limits: Vary by county and household size (see income limits).
  • First-time homebuyers only?: No.
  • Benefits: Eligible to use with the DCA or Start programs.

  • Available to: Eligible North Dakota homebuyers.
  • Income limits: Vary by county (see income limits).
  • First-time homebuyers only?: No.
  • Benefits: Can be used with the Start program.

  • Available to: Eligible North Dakota homebuyers in targeted areas.
  • Income limits: Vary by county and household size (see income limits).
  • First-time homebuyers only?: No.
  • Benefits: Can be used with the DCA or Start programs.

  • Available to: Eligible North Dakota homebuyers purchasing eligible homes not in a 100-year flood plain.
  • Income limits: Vary by county and family size (see income limits).
  • First-time homebuyers only?: No.
  • Benefits: Borrowers can receive down payment and closing cost assistance. This can be used with the FirstHome, Targeted Area Loan or HomeAccess mortgage programs.

  • Available to: Eligible North Dakota homebuyers purchasing eligible homes.
  • Income limits: Available to low-to-moderate income buyers.
  • First-time homebuyers only?: No.
  • Benefits: Borrowers can receive down payment and closing cost assistance. This program can be used with the FirstHome, HomeAccess, North Dakota Roots and Targeted Area Loan programs.

Advertising Disclosure: Some of the loan offers on this site are from companies
who are advertising clients of U.S. News. Advertising considerations may impact
where offers appear on the site but do not affect any editorial decisions,
such as which loan products we write about and how we evaluate them. This site
does not include all loan companies or all loan offers available in the marketplace.

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