Grand Forks USDA Loan Rates, Closing Costs & Stats
GRAND FORKS, ND-MN
USDA loans are zero-downpayment loans targeted towards lower-income households in rural areas. They can be made directly by the US Department of Agriculture or through a participating lender-- and they typically to borrowers with credit scores over 640. They can have subsidized rates, making them very competitive in terms of cost, but they have more stringent standards on who is eligible as well as specific covenants such as only being available in rural areas and limits on home size.
Grand Forks's 7 lenders originated 12 USDA loans during 2023. The total origination value was $1,950,000, with an average USDA loan value of $162,500.
Grand Forks USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Grand Forks
averaged
6.69%
for the week of 2024-04-19, compared to the national average (all USDA variants) of
6.863% for the same period.
Grand Forks's average USDA mortgage closing costs are $5,355.
The average rate for the prior week (2024-04-12) was
6.54% and
one month ago for the week of 2024-03-15, the
average rate was 6.52%.
The average rate one year ago was 6.36%.
For refis of the same type during the week of 2024-04-19, the average rate
was 6.86%.
Grand Forks USDA Loan Lenders by Rates & Fees
The below table looks at the average fees/closing costs and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Grand Forks level.
| Name | # of Loans | 2023 Avg. 30yFix Rate | 2023 Avg. Closing Costs |
|---|---|---|---|
| UNITED WHOLESALE MORTGAGE, LLC | 4 | 6.62% | $7,252 |
| Barrington Bank & Trust Company, N.A. | 2 | 6.50% | $4,020 |
| Bremer Bank | 2 | 6.31% | $6,480 |
| Alerus Financial | 1 | 6.25% | $1,045 |
| Florida Capital Bank | 1 | 6.75% | $5,585 |
| Gate City Bank | 1 | 5.85% | $4,059 |
| AMERICAN PACIFIC MORTGAGE CORPORATION | 1 | 6.13% | $7,588 |
The top Grand Forks USDA lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with
4 USDA loans originated. Their average total fees are
$7,252, which is $3,232
higher than the next largest lender,
Barrington Bank & Trust Company, N.A..
The lowest fee Grand Forks USDA lenders (with over 10 loans originated) are
.
The lowest rate Grand Forks USDA lenders (with over 10 loans originated) are
.
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Grand Forks (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 | $237,350 (5.5%) | $273,776 (5.2%) | 0.00 | 368 |
| 2018-02-01 | $236,950 (5.4%) | $272,224 (4.1%) | 0.00 | 370 |
| 2018-03-01 | $249,500 (10.5%) | $274,911 (3.5%) | 0.00 | 388 |
| 2018-04-01 | $250,950 (8.0%) | $282,320 (5.9%) | 0.00 | 401 |
| 2018-05-01 | $259,675 (6.8%) | $287,426 (5.4%) | 0.00 | 428 |
| 2018-06-01 | $254,000 (5.3%) | $280,172 (1.4%) | 0.00 | 493 |
| 2018-07-01 | $245,000 (6.6%) | $278,141 (2.1%) | 0.00 | 507 |
| 2018-08-01 | $238,269 (3.8%) | $272,520 (1.5%) | 0.00 | 516 |
| 2018-09-01 | $225,000 (-4.2%) | $264,301 (-3.3%) | 0.00 | 517 |
| 2018-10-01 | $219,900 (-5.4%) | $258,438 (-5.0%) | 0.00 | 501 |
| 2018-11-01 | $219,900 (-6.4%) | $257,171 (-5.2%) | 0.00 | 481 |
| 2018-12-01 | $219,900 (-8.3%) | $253,796 (-7.5%) | 0.00 | 460 |
| 2019-01-01 | $211,500 (-10.9%) | $245,148 (-10.5%) | 0.00 | 413 |
| 2019-02-01 | $208,250 (-12.1%) | $242,389 (-11.0%) | 0.00 | 413 |
| 2019-03-01 | $216,657 (-13.2%) | $246,456 (-10.4%) | 0.00 | 439 |
| 2019-04-01 | $219,000 (-12.7%) | $250,298 (-11.3%) | 0.00 | 458 |
| 2019-05-01 | $217,650 (-16.2%) | $251,230 (-12.6%) | 0.00 | 480 |
| 2019-06-01 | $220,000 (-13.4%) | $253,126 (-9.7%) | 0.00 | 498 |
| 2019-07-01 | $215,450 (-12.1%) | $244,430 (-12.1%) | 0.00 | 482 |
| 2019-08-01 | $212,077 (-11.0%) | $245,257 (-10.0%) | 0.00 | 480 |
| 2019-09-01 | $213,693 (-5.0%) | $247,055 (-6.5%) | 0.00 | 484 |
| 2019-10-01 | $212,270 (-3.5%) | $246,206 (-4.7%) | 0.00 | 480 |
| 2019-11-01 | $206,750 (-6.0%) | $240,716 (-6.4%) | 0.00 | 468 |
| 2019-12-01 | $209,900 (-4.6%) | $242,280 (-4.5%) | 0.00 | 429 |
| 2020-01-01 | $211,900 (0.2%) | $242,466 (-1.1%) | 0.00 | 388 |
| 2020-02-01 | $209,000 (0.4%) | $241,432 (-0.4%) | 0.00 | 376 |
| 2020-03-01 | $219,175 (1.2%) | $247,323 (0.4%) | 0.00 | 368 |
| 2020-04-01 | $228,075 (4.1%) | $254,556 (1.7%) | 0.00 | 366 |
| 2020-05-01 | $234,900 (7.9%) | $256,278 (2.0%) | 0.00 | 358 |
| 2020-06-01 | $236,950 (7.7%) | $264,067 (4.3%) | 0.00 | 367 |
| 2020-07-01 | $231,400 (7.4%) | $256,704 (5.0%) | 0.00 | 377 |
| 2020-08-01 | $229,900 (8.4%) | $256,582 (4.6%) | 0.00 | 356 |
| 2020-09-01 | $229,375 (7.3%) | $253,925 (2.8%) | 0.00 | 342 |
| 2020-10-01 | $216,750 (2.1%) | $249,396 (1.3%) | 0.00 | 324 |
| 2020-11-01 | $199,900 (-3.3%) | $239,769 (-0.4%) | 0.00 | 308 |
| 2020-12-01 | $199,900 (-4.8%) | $241,218 (-0.4%) | 0.00 | 285 |
| 2021-01-01 | $199,500 (-5.9%) | $236,943 (-2.3%) | 0.00 | 247 |
| 2021-02-01 | $209,000 (0.0%) | $262,683 (8.8%) | 0.00 | 227 |
| 2021-03-01 | $224,250 (2.3%) | $264,946 (7.1%) | 0.00 | 215 |
| 2021-04-01 | $237,450 (4.1%) | $282,391 (10.9%) | 0.00 | 204 |
| 2021-05-01 | $249,900 (6.4%) | $292,988 (14.3%) | 0.00 | 180 |
| 2021-06-01 | $267,450 (12.9%) | $302,910 (14.7%) | 0.00 | 205 |
| 2021-07-01 | $249,900 (8.0%) | $296,075 (15.3%) | 0.00 | 204 |
| 2021-08-01 | $264,390 (15.0%) | $289,628 (12.9%) | 0.00 | 218 |
| 2021-09-01 | $276,985 (20.8%) | $303,573 (19.6%) | 0.00 | 230 |
| 2021-10-01 | $274,500 (26.6%) | $300,440 (20.5%) | 0.00 | 224 |
| 2021-11-01 | $285,000 (42.6%) | $308,502 (28.7%) | 0.00 | 215 |
| 2021-12-01 | $294,212 (47.2%) | $315,129 (30.6%) | 0.00 | 178 |
| 2022-01-01 | $297,425 (49.1%) | $310,137 (30.9%) | 0.00 | 163 |
| 2022-02-01 | $301,325 (44.2%) | $305,529 (16.3%) | 0.00 | 150 |
| 2022-03-01 | $320,003 (42.7%) | $319,126 (20.5%) | 0.00 | 146 |
| 2022-04-01 | $320,053 (34.8%) | $321,326 (13.8%) | 0.00 | 149 |
| 2022-05-01 | $309,900 (24.0%) | $331,457 (13.1%) | 0.00 | 167 |
| 2022-06-01 | $282,450 (5.6%) | $317,670 (4.9%) | 0.00 | 207 |
| 2022-07-01 | $269,900 (8.0%) | $317,945 (7.4%) | 0.00 | 251 |
| 2022-08-01 | $252,450 (-4.5%) | $311,079 (7.4%) | 0.00 | 249 |
| 2022-09-01 | $249,675 (-9.9%) | $309,141 (1.8%) | 0.00 | 235 |
| 2022-10-01 | $249,500 (-9.1%) | $293,925 (-2.2%) | 0.00 | 233 |
| 2022-11-01 | $259,900 (-8.8%) | $295,066 (-4.4%) | 0.00 | 238 |
| 2022-12-01 | $259,950 (-11.7%) | $298,041 (-5.4%) | 0.00 | 209 |
| 2023-01-01 | $260,000 (-12.6%) | $301,392 (-2.8%) | 0.00 | 198 |
| 2023-02-01 | $284,450 (-5.6%) | $311,668 (2.0%) | 0.00 | 166 |
| 2023-03-01 | $315,800 (-1.3%) | $333,159 (4.4%) | 0.00 | 166 |
| 2023-04-01 | $299,900 (-6.3%) | $330,431 (2.8%) | 0.00 | 166 |
| 2023-05-01 | $321,008 (3.6%) | $368,123 (11.1%) | 0.00 | 176 |
| 2023-06-01 | $314,925 (11.5%) | $353,924 (11.4%) | 0.00 | 207 |
| 2023-07-01 | $325,000 (20.4%) | $361,802 (13.8%) | 0.00 | 233 |
| 2023-08-01 | $318,675 (26.2%) | $357,730 (15.0%) | 0.00 | 238 |
| 2023-09-01 | $299,900 (20.1%) | $351,138 (13.6%) | 0.00 | 257 |
| 2023-10-01 | $308,125 (23.5%) | $343,867 (17.0%) | 0.00 | 264 |
| 2023-11-01 | $310,000 (19.3%) | $343,690 (16.5%) | 0.00 | 252 |
| 2023-12-01 | $310,000 (19.3%) | $343,364 (15.2%) | 0.00 | 236 |
| 2024-01-01 | $316,250 (21.6%) | $345,893 (14.8%) | 0.00 | 214 |
| 2024-02-01 | $324,250 (14.0%) | $347,917 (11.6%) | 0.00 | 199 |
| 2024-03-01 | $330,950 (4.8%) | $356,950 (7.1%) | 0.00 | 189 |
Grand Forks's median listing price comes in at 0% of the national average.
Grand Forks's average listing price for 2024-03-01 was $356,950, a difference of $23,791 (7.1%) versus the prior year and $9,033 versus the prior month.
For the 2024-03-01 period, Grand Forks had 189 MLS listings, a difference of -10 listings (-5%) versus the prior month and 23 listings (14%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Grand Forks (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis| Date | Median Listing Time on Market | Median Square Footage |
|---|---|---|
| 2018-01-01 | 0 days | 2,214 sqft |
| 2018-02-01 | 0 days | 2,223 sqft |
| 2018-03-01 | 0 days | 2,268 sqft |
| 2018-04-01 | 0 days | 2,320 sqft |
| 2018-05-01 | 0 days | 2,340 sqft |
| 2018-06-01 | 0 days | 2,336 sqft |
| 2018-07-01 | 0 days | 2,314 sqft |
| 2018-08-01 | 0 days | 2,300 sqft |
| 2018-09-01 | 0 days | 2,262 sqft |
| 2018-10-01 | 0 days | 2,258 sqft |
| 2018-11-01 | 0 days | 2,233 sqft |
| 2018-12-01 | 0 days | 2,180 sqft |
| 2019-01-01 | 0 days | 2,173 sqft |
| 2019-02-01 | 0 days | 2,114 sqft |
| 2019-03-01 | 0 days | 2,114 sqft |
| 2019-04-01 | 0 days | 2,114 sqft |
| 2019-05-01 | 0 days | 2,120 sqft |
| 2019-06-01 | 0 days | 2,144 sqft |
| 2019-07-01 | 0 days | 2,102 sqft |
| 2019-08-01 | 0 days | 2,105 sqft |
| 2019-09-01 | 0 days | 2,109 sqft |
| 2019-10-01 | 0 days | 2,112 sqft |
| 2019-11-01 | 0 days | 2,108 sqft |
| 2019-12-01 | 0 days | 2,088 sqft |
| 2020-01-01 | 0 days | 2,075 sqft |
| 2020-02-01 | 0 days | 2,031 sqft |
| 2020-03-01 | 0 days | 2,087 sqft |
| 2020-04-01 | 0 days | 2,119 sqft |
| 2020-05-01 | 0 days | 2,112 sqft |
| 2020-06-01 | 0 days | 2,157 sqft |
| 2020-07-01 | 0 days | 2,158 sqft |
| 2020-08-01 | 0 days | 2,160 sqft |
| 2020-09-01 | 0 days | 2,182 sqft |
| 2020-10-01 | 0 days | 2,184 sqft |
| 2020-11-01 | 0 days | 2,180 sqft |
| 2020-12-01 | 0 days | 2,181 sqft |
| 2021-01-01 | 0 days | 2,120 sqft |
| 2021-02-01 | 0 days | 2,183 sqft |
| 2021-03-01 | 0 days | 2,183 sqft |
| 2021-04-01 | 0 days | 2,183 sqft |
| 2021-05-01 | 0 days | 2,184 sqft |
| 2021-06-01 | 0 days | 2,200 sqft |
| 2021-07-01 | 0 days | 2,160 sqft |
| 2021-08-01 | 0 days | 2,176 sqft |
| 2021-09-01 | 0 days | 2,171 sqft |
| 2021-10-01 | 0 days | 2,042 sqft |
| 2021-11-01 | 0 days | 2,042 sqft |
| 2021-12-01 | 0 days | 2,042 sqft |
| 2022-01-01 | 0 days | 2,042 sqft |
| 2022-02-01 | 0 days | 2,042 sqft |
| 2022-03-01 | 0 days | 2,042 sqft |
| 2022-04-01 | 0 days | 2,042 sqft |
| 2022-05-01 | 0 days | 2,042 sqft |
| 2022-06-01 | 0 days | 2,042 sqft |
| 2022-07-01 | 0 days | 2,042 sqft |
| 2022-08-01 | 0 days | 2,042 sqft |
| 2022-09-01 | 0 days | 2,042 sqft |
| 2022-10-01 | 0 days | 2,042 sqft |
| 2022-11-01 | 0 days | 2,106 sqft |
| 2022-12-01 | 0 days | 2,114 sqft |
| 2023-01-01 | 0 days | 2,074 sqft |
| 2023-02-01 | 0 days | 2,098 sqft |
| 2023-03-01 | 0 days | 2,125 sqft |
| 2023-04-01 | 0 days | 2,168 sqft |
| 2023-05-01 | 0 days | 2,183 sqft |
| 2023-06-01 | 0 days | 2,267 sqft |
| 2023-07-01 | 0 days | 2,311 sqft |
| 2023-08-01 | 0 days | 2,216 sqft |
| 2023-09-01 | 0 days | 2,184 sqft |
| 2023-10-01 | 0 days | 2,135 sqft |
| 2023-11-01 | 0 days | 2,174 sqft |
| 2023-12-01 | 0 days | 2,178 sqft |
| 2024-01-01 | 0 days | 2,130 sqft |
| 2024-02-01 | 0 days | 2,111 sqft |
| 2024-03-01 | 0 days | 2,194 sqft |
Grand Forks's median square footage for active listings during the 2024-03-01 period was 2,194 sqft. One year prior, the average listing was 2,125 sqft.