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 14 lenders originated 27 USDA loans during 2022. The total origination value was $4,465,000, with an average USDA loan value of $165,370.

Grand Forks USDA Loans, 30 Year Fixed Rates

30 Year USDA mortgages in Grand Forks averaged -0.4% for the week of 2024-02-23, compared to the national average (all USDA variants) of 0% for the same period.

Grand Forks's average USDA mortgage closing costs are $5,337.

The average rate for the prior week (2024-02-16) was 6.38% and one month ago for the week of 2024-01-19, the average rate was 5.96%.

The average rate one year ago was 5.87%.

For refis of the same type during the week of 2024-02-23, the average rate was -1.01%.

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

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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
Bremer Bank 4 4.41% $5,750
Barrington Bank & Trust Company, N.A. 4 4.72% $5,926
UNITED WHOLESALE MORTGAGE, LLC 4 4.97% $7,387
Lend Smart Mortgage, LLC 3 5.46% $8,774
EVERETT FINANCIAL, INC. 2 5.31% $2,750
Alerus Financial 2 4.69% $1,663
GUARANTEED RATE, INC. 1 5.25% $4,220
The Huntington National Bank 1 4.75% $6,425
VALLEY MORTGAGE, INC. 1 4.00% $2,903
ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 4.13% $5,072
CRESCENT MORTGAGE COMPANY 1 4.75% $4,638
FINANCE OF AMERICA MORTGAGE LLC 1 4.99% $5,040
Florida Capital Bank 1 5.00% $6,813
Gate City Bank 1 3.00% $12,370

The top Grand Forks USDA lender as defined by loan originations is Bremer Bank, with 4 USDA loans originated. Their average total fees are $5,750, which is $176 lower 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
Grand Forks's median listing price for 2023-12-01 was $310,000, a difference of $50,050 (19.3%) versus the prior year and $0 versus the prior month.

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

Grand Forks's average listing price for 2023-12-01 was $343,364, a difference of $45,323 (15.2%) versus the prior year and $-326 versus the prior month.

For the 2023-12-01 period, Grand Forks had 236 MLS listings, a difference of -16 listings (-6%) versus the prior month and 27 listings (13%) 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
Grand Forks's median listing age (time on market) for 2023-12-01 was 0 days.

Grand Forks's median square footage for active listings during the 2023-12-01 period was 2,178 sqft. One year prior, the average listing was 2,114 sqft.