Dickinson FHA Loan Rates, Closing Costs & Stats

Dickinson, ND

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    • FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.

    FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.

    While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.

    For additional requirements as defined by the FHA, click here.

    Dickinson's 21 lenders originated 125 FHA loans during 2023. The total origination value was $32,005,000, with an average FHA loan value of $256,040.

    Dickinson FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in Dickinson averaged -0.26% for the week of 2024-11-15, compared to the national average (all FHA variants) of 0% for the same period.

    Dickinson's average FHA mortgage closing costs are $7,781.

    The average rate for the prior week (2024-11-08) was 6.25% and one month ago for the week of 2024-10-11, the average rate was 5.85%.

    The average rate one year ago was 7%.

    For refis of the same type during the week of 2024-11-15, the average rate was 0.2%.

    Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

    Dickinson FHA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Dickinson level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 22 6.55% $10,310
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 21 6.83% $6,222
    Bank of England 18 6.71% $10,652
    Dakota Community Bank & Trust 13 6.16% $8,402
    American Bank Center 6 6.47% $9,484
    GUILD MORTGAGE COMPANY 6 7.06% $12,055
    QUICKEN LOANS, LLC 5 6.62% $9,925
    WESTERN COOPERATIVE CREDIT UNION 5 6.55% $12,074
    FIRST COLONY MORTGAGE CORPORATION 4 6.53% $9,054
    Gate City Bank 4 6.23% $7,702
    Unify Home Lending Inc. 4 7.18% $6,200
    U.S. Bank 3 6.25% $6,630
    OPEN MORTGAGE, LLC 2 6.19% $13,943
    SUN WEST MORTGAGE COMPANY, INC. 2 6.19% $9,105
    AMERISAVE MORTGAGE CORPORATION 1 5.75% $7,533
    Flagstar Bank, FSB 1 5.00% $8,087
    NEWREZ LLC 1 6.13% $8,756
    Plains Commerce Bank 1 8.38% $10,550
    PLANET HOME LENDING, LLC 1 5.50% $7,896
    UNITED WHOLESALE MORTGAGE, LLC 1 6.63% $9,959
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 5.88% $14,040

    The top Dickinson FHA lender as defined by loan originations is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, with 22 FHA loans originated. Their average total fees are $10,310, which is $4,088 higher than the next largest lender, ARK-LA-TEX FINANCIAL SERVICES, LLC..

    The lowest fee Dickinson FHA lenders (with over 10 loans originated) are ARK-LA-TEX FINANCIAL SERVICES, LLC. ($6,222), Dakota Community Bank & Trust ($8,402), FAIRWAY INDEPENDENT MORTGAGE CORPORATION ($10,310), Bank of England ($10,652) and .

    The lowest rate Dickinson FHA lenders (with over 10 loans originated) are Dakota Community Bank & Trust (6.16%), FAIRWAY INDEPENDENT MORTGAGE CORPORATION (6.55%), Bank of England (6.71%), ARK-LA-TEX FINANCIAL SERVICES, LLC. (6.83%) and .

    Dickinson FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    DICKINSON, ND BILLINGS 2022 $420,680 $538,650 $651,050 $809,150
    DICKINSON, ND STARK 2022 $420,680 $538,650 $651,050 $809,150
    DICKINSON, ND BILLINGS 2023 $472,030 $604,400 $730,525 $907,900
    DICKINSON, ND STARK 2023 $472,030 $604,400 $730,525 $907,900

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Dickinson (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
    2018-01-01 $225,725 (2.6%) $245,413 (3.0%) 0.00 237
    2018-02-01 $229,450 (4.1%) $250,021 (4.9%) 0.00 237
    2018-03-01 $233,000 (2.0%) $253,765 (3.3%) 0.00 235
    2018-04-01 $239,675 (2.0%) $260,594 (2.6%) 0.00 244
    2018-05-01 $239,900 (1.4%) $268,671 (3.7%) 0.00 261
    2018-06-01 $249,000 (3.8%) $273,510 (4.2%) 0.00 284
    2018-07-01 $240,450 (0.4%) $269,846 (4.5%) 0.00 289
    2018-08-01 $235,000 (0.6%) $269,475 (5.5%) 0.00 284
    2018-09-01 $229,900 (1.3%) $261,750 (3.2%) 0.00 281
    2018-10-01 $224,000 (-0.4%) $251,772 (0.8%) 0.00 278
    2018-11-01 $225,000 (2.3%) $249,615 (3.3%) 0.00 261
    2018-12-01 $239,999 (6.7%) $260,256 (7.6%) 0.00 241
    2019-01-01 $243,750 (8.0%) $273,967 (11.6%) 0.00 204
    2019-02-01 $249,000 (8.5%) $277,472 (11.0%) 0.00 188
    2019-03-01 $255,643 (9.7%) $280,863 (10.7%) 0.00 168
    2019-04-01 $266,750 (11.3%) $290,876 (11.6%) 0.00 158
    2019-05-01 $271,225 (13.1%) $292,475 (8.9%) 0.00 181
    2019-06-01 $277,450 (11.4%) $307,078 (12.3%) 0.00 191
    2019-07-01 $271,950 (13.1%) $306,188 (13.5%) 0.00 196
    2019-08-01 $266,273 (13.3%) $306,364 (13.7%) 0.00 197
    2019-09-01 $262,182 (14.0%) $300,519 (14.8%) 0.00 193
    2019-10-01 $254,500 (13.6%) $296,623 (17.8%) 0.00 187
    2019-11-01 $243,250 (8.1%) $278,168 (11.4%) 0.00 177
    2019-12-01 $239,900 (0.0%) $275,819 (6.0%) 0.00 166
    2020-01-01 $244,000 (0.1%) $278,108 (1.5%) 0.00 146
    2020-02-01 $238,000 (-4.4%) $280,510 (1.1%) 0.00 125
    2020-03-01 $246,000 (-3.8%) $283,001 (0.8%) 0.00 122
    2020-04-01 $244,475 (-8.4%) $282,997 (-2.7%) 0.00 148
    2020-05-01 $246,400 (-9.2%) $278,273 (-4.9%) 0.00 180
    2020-06-01 $246,800 (-11.1%) $286,684 (-6.6%) 0.00 180
    2020-07-01 $244,925 (-9.9%) $285,048 (-6.9%) 0.00 177
    2020-08-01 $245,000 (-8.0%) $290,134 (-5.3%) 0.00 184
    2020-09-01 $244,950 (-6.6%) $287,581 (-4.3%) 0.00 187
    2020-10-01 $244,900 (-3.8%) $277,565 (-6.4%) 0.00 185
    2020-11-01 $248,450 (2.1%) $276,655 (-0.5%) 0.00 179
    2020-12-01 $244,900 (2.1%) $275,608 (-0.1%) 0.00 174
    2021-01-01 $242,450 (-0.6%) $273,037 (-1.8%) 0.00 161
    2021-02-01 $240,000 (0.8%) $264,281 (-5.8%) 0.00 163
    2021-03-01 $240,000 (-2.4%) $273,992 (-3.2%) 0.00 148
    2021-04-01 $230,000 (-5.9%) $250,759 (-11.4%) 0.00 183
    2021-05-01 $234,950 (-4.7%) $260,293 (-6.5%) 0.00 163
    2021-06-01 $233,750 (-5.3%) $262,929 (-8.3%) 0.00 160
    2021-07-01 $239,950 (-2.0%) $260,984 (-8.4%) 0.00 174
    2021-08-01 $239,975 (-2.1%) $260,135 (-10.3%) 0.00 163
    2021-09-01 $239,975 (-2.0%) $255,024 (-11.3%) 0.00 163
    2021-10-01 $244,950 (0.0%) $251,493 (-9.4%) 0.00 162
    2021-11-01 $237,500 (-4.4%) $251,992 (-8.9%) 0.00 155
    2021-12-01 $214,900 (-12.3%) $236,345 (-14.3%) 0.00 137
    2022-01-01 $210,000 (-13.4%) $224,834 (-17.7%) 0.00 102
    2022-02-01 $218,700 (-8.9%) $233,628 (-11.6%) 0.00 103
    2022-03-01 $245,000 (2.1%) $257,310 (-6.1%) 0.00 88
    2022-04-01 $249,900 (8.7%) $267,382 (6.6%) 0.00 77
    2022-05-01 $271,800 (15.7%) $311,748 (19.8%) 0.00 90
    2022-06-01 $297,450 (27.3%) $329,674 (25.4%) 0.00 110
    2022-07-01 $295,000 (22.9%) $335,111 (28.4%) 0.00 119
    2022-08-01 $269,725 (12.4%) $319,281 (22.7%) 0.00 134
    2022-09-01 $269,000 (12.1%) $317,881 (24.7%) 0.00 146
    2022-10-01 $267,500 (9.2%) $313,770 (24.8%) 0.00 156
    2022-11-01 $260,725 (9.8%) $311,503 (23.6%) 0.00 150
    2022-12-01 $265,500 (23.6%) $302,323 (27.9%) 0.00 138
    2023-01-01 $256,000 (21.9%) $301,068 (33.9%) 0.00 127
    2023-02-01 $252,000 (15.2%) $306,859 (31.4%) 0.00 97
    2023-03-01 $265,250 (8.3%) $322,498 (25.3%) 0.00 92
    2023-04-01 $255,000 (2.0%) $323,277 (20.9%) 0.00 91
    2023-05-01 $274,975 (1.2%) $319,552 (2.5%) 0.00 97
    2023-06-01 $273,675 (-8.0%) $325,553 (-1.3%) 0.00 96
    2023-07-01 $269,900 (-8.5%) $326,802 (-2.5%) 0.00 98
    2023-08-01 $297,000 (10.1%) $339,007 (6.2%) 0.00 104
    2023-09-01 $289,900 (7.8%) $322,546 (1.5%) 0.00 99
    2023-10-01 $285,400 (6.7%) $322,318 (2.7%) 0.00 90
    2023-11-01 $262,000 (0.5%) $302,710 (-2.8%) 0.00 84
    2023-12-01 $259,450 (-2.3%) $301,831 (-0.2%) 0.00 81
    2024-01-01 $311,175 (21.6%) $321,608 (6.8%) 0.00 71
    2024-02-01 $279,000 (10.7%) $312,617 (1.9%) 0.00 63
    2024-03-01 $307,450 (15.9%) $346,273 (7.4%) 0.00 54
    2024-04-01 $379,225 (48.7%) $369,379 (14.3%) 0.00 57
    2024-05-01 $396,125 (44.1%) $426,537 (33.5%) 0.00 56
    2024-06-01 $387,450 (41.6%) $429,453 (31.9%) 0.00 67
    2024-07-01 $380,500 (41.0%) $418,093 (27.9%) 0.00 75
    2024-08-01 $332,500 (12.0%) $373,849 (10.3%) 0.00 81
    2024-09-01 $320,000 (10.4%) $347,330 (7.7%) 0.00 86
    2024-10-01 $304,950 (6.9%) $373,277 (15.8%) 0.00 89
    Dickinson's median listing price for 2024-10-01 was $304,950, a difference of $19,550 (6.9%) versus the prior year and $-15,050 versus the prior month.

    Dickinson's median listing price comes in at 0% of the national average.

    Dickinson's average listing price for 2024-10-01 was $373,277, a difference of $50,959 (15.8%) versus the prior year and $25,947 versus the prior month.

    For the 2024-10-01 period, Dickinson had 89 MLS listings, a difference of 3 listings (3%) versus the prior month and -1 listings (-1%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Dickinson (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,228 sqft
    2018-02-01 0 days 2,223 sqft
    2018-03-01 0 days 2,202 sqft
    2018-04-01 0 days 2,288 sqft
    2018-05-01 0 days 2,304 sqft
    2018-06-01 0 days 2,296 sqft
    2018-07-01 0 days 2,254 sqft
    2018-08-01 0 days 2,204 sqft
    2018-09-01 0 days 2,219 sqft
    2018-10-01 0 days 2,140 sqft
    2018-11-01 0 days 2,126 sqft
    2018-12-01 0 days 2,244 sqft
    2019-01-01 0 days 2,234 sqft
    2019-02-01 0 days 2,224 sqft
    2019-03-01 0 days 2,232 sqft
    2019-04-01 0 days 2,260 sqft
    2019-05-01 0 days 2,393 sqft
    2019-06-01 0 days 2,472 sqft
    2019-07-01 0 days 2,449 sqft
    2019-08-01 0 days 2,417 sqft
    2019-09-01 0 days 2,399 sqft
    2019-10-01 0 days 2,381 sqft
    2019-11-01 0 days 2,352 sqft
    2019-12-01 0 days 2,258 sqft
    2020-01-01 0 days 2,276 sqft
    2020-02-01 0 days 2,225 sqft
    2020-03-01 0 days 2,237 sqft
    2020-04-01 0 days 2,215 sqft
    2020-05-01 0 days 2,211 sqft
    2020-06-01 0 days 2,214 sqft
    2020-07-01 0 days 2,176 sqft
    2020-08-01 0 days 2,176 sqft
    2020-09-01 0 days 2,208 sqft
    2020-10-01 0 days 2,164 sqft
    2020-11-01 0 days 2,145 sqft
    2020-12-01 0 days 2,111 sqft
    2021-01-01 0 days 2,120 sqft
    2021-02-01 0 days 2,073 sqft
    2021-03-01 0 days 2,082 sqft
    2021-04-01 0 days 2,023 sqft
    2021-05-01 0 days 2,054 sqft
    2021-06-01 0 days 2,044 sqft
    2021-07-01 0 days 2,080 sqft
    2021-08-01 0 days 2,076 sqft
    2021-09-01 0 days 2,003 sqft
    2021-10-01 0 days 2,080 sqft
    2021-11-01 0 days 2,093 sqft
    2021-12-01 0 days 2,030 sqft
    2022-01-01 0 days 1,923 sqft
    2022-02-01 0 days 2,119 sqft
    2022-03-01 0 days 2,198 sqft
    2022-04-01 0 days 2,220 sqft
    2022-05-01 0 days 2,329 sqft
    2022-06-01 0 days 2,420 sqft
    2022-07-01 0 days 2,469 sqft
    2022-08-01 0 days 2,343 sqft
    2022-09-01 0 days 2,285 sqft
    2022-10-01 0 days 2,212 sqft
    2022-11-01 0 days 2,168 sqft
    2022-12-01 0 days 2,167 sqft
    2023-01-01 0 days 2,164 sqft
    2023-02-01 0 days 2,078 sqft
    2023-03-01 0 days 2,080 sqft
    2023-04-01 0 days 2,155 sqft
    2023-05-01 0 days 2,169 sqft
    2023-06-01 0 days 2,187 sqft
    2023-07-01 0 days 2,204 sqft
    2023-08-01 0 days 2,280 sqft
    2023-09-01 0 days 2,340 sqft
    2023-10-01 0 days 2,256 sqft
    2023-11-01 0 days 2,046 sqft
    2023-12-01 0 days 2,064 sqft
    2024-01-01 0 days 2,169 sqft
    2024-02-01 0 days 2,200 sqft
    2024-03-01 0 days 2,277 sqft
    2024-04-01 0 days 2,237 sqft
    2024-05-01 0 days 2,299 sqft
    2024-06-01 0 days 2,298 sqft
    2024-07-01 0 days 2,348 sqft
    2024-08-01 0 days 2,149 sqft
    2024-09-01 0 days 2,122 sqft
    2024-10-01 0 days 2,064 sqft
    Dickinson's median listing age (time on market) for 2024-10-01 was 0 days.

    Dickinson's median square footage for active listings during the 2024-10-01 period was 2,064 sqft. One year prior, the average listing was 2,256 sqft.

    FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).