Grand Forks USDA Loans
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 19 lenders originated 61 USDA loans during 2021. The total origination value was $10,515,000, with an average USDA loan value of $172,377.
Grand Forks USDA Loans, 30 Year Fixed Rates
30 Year USDA mortgages in Grand Forks
averaged
5.33%
for the week of 2022-05-13, compared to the national average (all USDA variants) of
5.294% for the same period.
The average rate for the prior week (2022-05-06) was
4.97% and
one month ago for the week of 2022-04-08, the
average rate was 4.73%.
The average rate one year ago was 2.84%.
For refis of the same type during the week of 2022-05-13, the average rate
was 4.8%.
Grand Forks USDA Loan Lenders by Rates & Fees
The below table looks at the average fees and rates for USDA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Grand Forks level.
Name | # of Loans | 2021 Avg. 30yFix Rate | 2021 Avg. Total Fees |
---|---|---|---|
Bremer Bank | 14 | 2.74% | $5,732 |
Florida Capital Bank | 10 | 2.91% | $7,296 |
Barrington Bank & Trust Company, N.A. | 7 | 2.63% | $6,706 |
CRESCENT MORTGAGE COMPANY | 6 | 2.75% | $5,912 |
UNITED WHOLESALE MORTGAGE, LLC | 4 | 3.00% | $7,230 |
Lend Smart Mortgage, LLC | 3 | 3.17% | $4,657 |
Servion, Inc. | 2 | 2.63% | $6,798 |
VALLEY MORTGAGE, INC. | 2 | 2.75% | $1,316 |
PRIMARY RESIDENTIAL MORTGAGE, INC. | 2 | 3.13% | $4,433 |
Frandsen Bank & Trust | 2 | 2.88% | $7,356 |
Wells Fargo Bank | 1 | 2.88% | $6,705 |
ARK-LA-TEX FINANCIAL SERVICES, LLC. | 1 | 3.13% | $3,598 |
Bell Bank | 1 | 2.75% | $5,103 |
BROKER SOLUTIONS, INC. | 1 | 3.25% | $4,210 |
FIRST COMMUNITY CREDIT UNION | 1 | 2.25% | $7,574 |
First International Bank & Trust | 1 | 2.50% | $3,227 |
Paramount Bank | 1 | 3.63% | $5,015 |
The Huntington National Bank | 1 | 2.88% | $5,780 |
Alerus Financial | 1 | 2.38% | $2,322 |
The top Grand Forks USDA lender as defined by loan originations is Bremer Bank, with
14 USDA loans originated. Their average total fees are
$5,732, which is $1,564
lower than the next largest lender,
Florida Capital Bank.
The lowest fee Grand Forks USDA lenders (with over 10 loans originated) are
Bremer Bank ($5,732), Florida Capital Bank ($7,296), .
The lowest rate Grand Forks USDA lenders (with over 10 loans originated) are
Bremer Bank (2.74%), Florida Capital Bank (2.91%), .
Market Conditions (Median, Average Prices & Listing Count)
Realtor.com - Grand Forks (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Price (YoY Change) | Average Listing Price (YoY) | MSA/US Median Price Ratio | Active Listings |
---|---|---|---|---|
2018-01-01 | $234,091 (4.7%) | $272,042 (5.3%) | 0.00 | 386 |
2018-02-01 | $229,900 (2.8%) | $268,479 (3.8%) | 0.00 | 389 |
2018-03-01 | $244,000 (8.5%) | $271,622 (3.2%) | 0.00 | 417 |
2018-04-01 | $244,450 (6.3%) | $276,342 (4.5%) | 0.00 | 433 |
2018-05-01 | $249,500 (4.0%) | $280,727 (3.8%) | 0.00 | 459 |
2018-06-01 | $247,900 (4.4%) | $275,120 (0.3%) | 0.00 | 526 |
2018-07-01 | $237,999 (3.5%) | $270,281 (-0.3%) | 0.00 | 545 |
2018-08-01 | $233,200 (2.5%) | $264,980 (0.2%) | 0.00 | 557 |
2018-09-01 | $220,000 (-5.2%) | $256,965 (-4.9%) | 0.00 | 561 |
2018-10-01 | $214,900 (-5.6%) | $252,448 (-6.4%) | 0.00 | 537 |
2018-11-01 | $214,900 (-6.5%) | $250,516 (-7.2%) | 0.00 | 517 |
2018-12-01 | $212,000 (-8.8%) | $246,715 (-9.1%) | 0.00 | 500 |
2019-01-01 | $200,450 (-14.4%) | $237,433 (-12.7%) | 0.00 | 445 |
2019-02-01 | $199,900 (-13.1%) | $235,181 (-12.4%) | 0.00 | 451 |
2019-03-01 | $209,714 (-14.1%) | $239,974 (-11.7%) | 0.00 | 473 |
2019-04-01 | $210,714 (-13.8%) | $244,270 (-11.6%) | 0.00 | 491 |
2019-05-01 | $210,450 (-15.7%) | $244,523 (-12.9%) | 0.00 | 519 |
2019-06-01 | $218,000 (-12.1%) | $246,411 (-10.4%) | 0.00 | 547 |
2019-07-01 | $207,450 (-12.8%) | $238,182 (-11.9%) | 0.00 | 533 |
2019-08-01 | $206,714 (-11.4%) | $240,118 (-9.4%) | 0.00 | 535 |
2019-09-01 | $208,714 (-5.1%) | $243,131 (-5.4%) | 0.00 | 542 |
2019-10-01 | $209,000 (-2.8%) | $242,632 (-3.9%) | 0.00 | 525 |
2019-11-01 | $199,900 (-7.0%) | $237,139 (-5.3%) | 0.00 | 508 |
2019-12-01 | $209,000 (-1.4%) | $239,880 (-2.8%) | 0.00 | 465 |
2020-01-01 | $209,000 (4.3%) | $240,326 (1.2%) | 0.00 | 422 |
2020-02-01 | $209,000 (4.6%) | $242,757 (3.2%) | 0.00 | 413 |
2020-03-01 | $212,000 (1.1%) | $244,866 (2.0%) | 0.00 | 399 |
2020-04-01 | $226,200 (7.4%) | $250,989 (2.8%) | 0.00 | 398 |
2020-05-01 | $229,900 (9.2%) | $252,033 (3.1%) | 0.00 | 390 |
2020-06-01 | $231,400 (6.2%) | $255,854 (3.8%) | 0.00 | 403 |
2020-07-01 | $229,450 (10.6%) | $255,955 (7.5%) | 0.00 | 414 |
2020-08-01 | $229,900 (11.2%) | $254,602 (6.0%) | 0.00 | 393 |
2020-09-01 | $229,500 (10.0%) | $252,152 (3.7%) | 0.00 | 382 |
2020-10-01 | $214,900 (2.8%) | $247,336 (1.9%) | 0.00 | 373 |
2020-11-01 | $199,900 (0.0%) | $236,390 (-0.3%) | 0.00 | 356 |
2020-12-01 | $199,250 (-4.7%) | $236,996 (-1.2%) | 0.00 | 329 |
2021-01-01 | $189,900 (-9.1%) | $232,957 (-3.1%) | 0.00 | 289 |
2021-02-01 | $199,500 (-4.6%) | $251,910 (3.8%) | 0.00 | 269 |
2021-03-01 | $209,000 (-1.4%) | $251,236 (2.6%) | 0.00 | 271 |
2021-04-01 | $223,500 (-1.2%) | $264,066 (5.2%) | 0.00 | 254 |
2021-05-01 | $229,900 (0.0%) | $269,303 (6.9%) | 0.00 | 222 |
2021-06-01 | $249,900 (8.0%) | $292,780 (14.4%) | 0.00 | 236 |
2021-07-01 | $237,450 (3.5%) | $288,914 (12.9%) | 0.00 | 243 |
2021-08-01 | $242,450 (5.5%) | $281,758 (10.7%) | 0.00 | 260 |
2021-09-01 | $264,608 (15.3%) | $295,052 (17.0%) | 0.00 | 283 |
2021-10-01 | $249,900 (16.3%) | $287,244 (16.1%) | 0.00 | 270 |
2021-11-01 | $264,685 (32.4%) | $294,799 (24.7%) | 0.00 | 258 |
2021-12-01 | $278,450 (39.8%) | $307,138 (29.6%) | 0.00 | 207 |
2022-01-01 | $269,900 (42.1%) | $299,411 (28.5%) | 0.00 | 189 |
2022-02-01 | $295,570 (48.2%) | $302,379 (20.0%) | 0.00 | 163 |
2022-03-01 | $314,900 (50.7%) | $311,565 (24.0%) | 0.00 | 159 |
2022-04-01 | $309,900 (38.7%) | $310,732 (17.7%) | 0.00 | 162 |
Grand Forks's median listing price comes in at 0% of the national average.
Grand Forks's average listing price for 2022-04-01 was $310,732, a difference of $46,666 (17.7%) versus the prior year and $-833 versus the prior month.
For the 2022-04-01 period, Grand Forks had 162 MLS listings, a difference of 3 listings (2%) versus the prior month and -92 listings (-36%) versus the prior year.
Median Listing Time on Market & Square Footage
Realtor.com - Grand Forks (CBSA) retrieved from FRED, Federal Reserve Bank of St. LouisDate | Median Listing Time on Market | Median Square Footage |
---|---|---|
2018-01-01 | 0 days | 2,208 sqft |
2018-02-01 | 0 days | 2,209 sqft |
2018-03-01 | 0 days | 2,276 sqft |
2018-04-01 | 0 days | 2,304 sqft |
2018-05-01 | 0 days | 2,330 sqft |
2018-06-01 | 0 days | 2,320 sqft |
2018-07-01 | 0 days | 2,307 sqft |
2018-08-01 | 0 days | 2,295 sqft |
2018-09-01 | 0 days | 2,260 sqft |
2018-10-01 | 0 days | 2,258 sqft |
2018-11-01 | 0 days | 2,226 sqft |
2018-12-01 | 0 days | 2,172 sqft |
2019-01-01 | 0 days | 2,139 sqft |
2019-02-01 | 0 days | 2,108 sqft |
2019-03-01 | 0 days | 2,098 sqft |
2019-04-01 | 0 days | 2,094 sqft |
2019-05-01 | 0 days | 2,097 sqft |
2019-06-01 | 0 days | 2,112 sqft |
2019-07-01 | 0 days | 2,089 sqft |
2019-08-01 | 0 days | 2,089 sqft |
2019-09-01 | 0 days | 2,092 sqft |
2019-10-01 | 0 days | 2,110 sqft |
2019-11-01 | 0 days | 2,075 sqft |
2019-12-01 | 0 days | 2,052 sqft |
2020-01-01 | 0 days | 2,044 sqft |
2020-02-01 | 0 days | 2,010 sqft |
2020-03-01 | 0 days | 2,031 sqft |
2020-04-01 | 0 days | 2,106 sqft |
2020-05-01 | 0 days | 2,040 sqft |
2020-06-01 | 0 days | 2,088 sqft |
2020-07-01 | 0 days | 2,154 sqft |
2020-08-01 | 0 days | 2,160 sqft |
2020-09-01 | 0 days | 2,184 sqft |
2020-10-01 | 0 days | 2,206 sqft |
2020-11-01 | 0 days | 2,183 sqft |
2020-12-01 | 0 days | 2,180 sqft |
2021-01-01 | 0 days | 2,121 sqft |
2021-02-01 | 0 days | 2,105 sqft |
2021-03-01 | 0 days | 2,183 sqft |
2021-04-01 | 0 days | 2,170 sqft |
2021-05-01 | 0 days | 2,183 sqft |
2021-06-01 | 0 days | 2,183 sqft |
2021-07-01 | 0 days | 2,099 sqft |
2021-08-01 | 0 days | 2,123 sqft |
2021-09-01 | 0 days | 2,136 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 |
Grand Forks's median square footage for active listings during the 2022-04-01 period was 2,042 sqft. One year prior, the average listing was 2,170 sqft.