Minot USDA Loan Rates, Closing Costs & Stats

Minot, ND

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    • 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.

    Minot's 4 lenders originated 5 USDA loans during 2023. The total origination value was $825,000, with an average USDA loan value of $165,000.

    Minot USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in Minot averaged 6.71% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    Minot's average USDA mortgage closing costs are $5,589.

    The average rate for the prior week (2024-04-12) was 6.36% and one month ago for the week of 2024-03-15, the average rate was 6.05%.

    The average rate one year ago was 5.88%.

    For refis of the same type during the week of 2024-04-19, the average rate was 7.06%.

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

    Minot 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 Minot level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 1 6.38% $3,024
    Dacotah Bank 1 6.50% $2,872
    Flagstar Bank, FSB 1 7.13% $7,008
    TOWN AND COUNTRY Credit Union 1 6.25% $4,390

    The top Minot USDA lender as defined by loan originations is ARK-LA-TEX FINANCIAL SERVICES, LLC., with 1 USDA loans originated. Their average total fees are $3,024, which is $152 higher than the next largest lender, Dacotah Bank.

    The lowest fee Minot USDA lenders (with over 10 loans originated) are .

    The lowest rate Minot USDA lenders (with over 10 loans originated) are .

    Market Conditions (Median, Average Prices & Listing Count)

    Realtor.com - Minot (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 $208,450 (-4.5%) $230,361 (-2.1%) 0.00 404
    2018-02-01 $210,000 (-1.2%) $236,507 (3.3%) 0.00 396
    2018-03-01 $210,000 (-1.6%) $236,582 (2.6%) 0.00 394
    2018-04-01 $219,900 (4.8%) $240,121 (3.7%) 0.00 404
    2018-05-01 $219,900 (8.5%) $278,740 (21.1%) 0.00 456
    2018-06-01 $219,900 (10.0%) $279,745 (25.1%) 0.00 494
    2018-07-01 $219,900 (8.9%) $280,108 (26.3%) 0.00 514
    2018-08-01 $219,000 (9.6%) $278,707 (25.6%) 0.00 497
    2018-09-01 $214,900 (4.9%) $279,997 (24.0%) 0.00 486
    2018-10-01 $209,925 (2.0%) $277,616 (21.7%) 0.00 482
    2018-11-01 $203,250 (-2.1%) $272,975 (18.5%) 0.00 481
    2018-12-01 $199,900 (-2.5%) $271,581 (17.2%) 0.00 420
    2019-01-01 $199,450 (-4.3%) $273,371 (18.7%) 0.00 374
    2019-02-01 $199,725 (-4.9%) $272,637 (15.3%) 0.00 382
    2019-03-01 $204,243 (-2.7%) $253,142 (7.0%) 0.00 418
    2019-04-01 $209,900 (-4.6%) $225,260 (-6.2%) 0.00 461
    2019-05-01 $209,925 (-4.5%) $226,906 (-18.6%) 0.00 481
    2019-06-01 $214,500 (-2.5%) $225,329 (-19.5%) 0.00 469
    2019-07-01 $211,250 (-3.9%) $225,805 (-19.4%) 0.00 475
    2019-08-01 $207,173 (-5.4%) $224,373 (-19.5%) 0.00 465
    2019-09-01 $203,082 (-5.5%) $223,345 (-20.2%) 0.00 445
    2019-10-01 $199,900 (-4.8%) $221,071 (-20.4%) 0.00 421
    2019-11-01 $195,450 (-3.8%) $215,927 (-20.9%) 0.00 375
    2019-12-01 $189,500 (-5.2%) $212,889 (-21.6%) 0.00 301
    2020-01-01 $186,475 (-6.5%) $211,363 (-22.7%) 0.00 251
    2020-02-01 $187,500 (-6.1%) $209,064 (-23.3%) 0.00 252
    2020-03-01 $195,000 (-4.5%) $219,448 (-13.3%) 0.00 273
    2020-04-01 $199,925 (-4.8%) $220,819 (-2.0%) 0.00 288
    2020-05-01 $209,900 (0.0%) $236,164 (4.1%) 0.00 297
    2020-06-01 $212,450 (-1.0%) $242,017 (7.4%) 0.00 313
    2020-07-01 $219,450 (3.9%) $248,972 (10.3%) 0.00 298
    2020-08-01 $214,900 (3.7%) $248,462 (10.7%) 0.00 279
    2020-09-01 $203,500 (0.2%) $244,976 (9.7%) 0.00 256
    2020-10-01 $194,900 (-2.5%) $239,403 (8.3%) 0.00 226
    2020-11-01 $194,900 (-0.3%) $233,197 (8.0%) 0.00 207
    2020-12-01 $208,250 (9.9%) $234,126 (10.0%) 0.00 198
    2021-01-01 $198,000 (6.2%) $229,251 (8.5%) 0.00 166
    2021-02-01 $208,750 (11.3%) $232,088 (11.0%) 0.00 166
    2021-03-01 $208,500 (6.9%) $231,471 (5.5%) 0.00 149
    2021-04-01 $207,000 (3.5%) $242,006 (9.6%) 0.00 141
    2021-05-01 $205,000 (-2.3%) $243,956 (3.3%) 0.00 167
    2021-06-01 $210,000 (-1.2%) $251,327 (3.9%) 0.00 185
    2021-07-01 $209,950 (-4.3%) $256,915 (3.2%) 0.00 208
    2021-08-01 $215,225 (0.2%) $244,391 (-1.6%) 0.00 213
    2021-09-01 $219,950 (8.1%) $245,479 (0.2%) 0.00 210
    2021-10-01 $209,900 (7.7%) $245,050 (2.4%) 0.00 176
    2021-11-01 $196,200 (0.7%) $223,339 (-4.2%) 0.00 167
    2021-12-01 $204,925 (-1.6%) $220,787 (-5.7%) 0.00 144
    2022-01-01 $193,700 (-2.2%) $205,717 (-10.3%) 0.00 121
    2022-02-01 $184,975 (-11.4%) $206,641 (-11.0%) 0.00 102
    2022-03-01 $199,975 (-4.1%) $219,690 (-5.1%) 0.00 99
    2022-04-01 $210,000 (1.5%) $227,791 (-5.9%) 0.00 107
    2022-05-01 $226,175 (10.3%) $252,150 (3.4%) 0.00 130
    2022-06-01 $239,900 (14.2%) $269,275 (7.1%) 0.00 170
    2022-07-01 $247,900 (18.1%) $272,055 (5.9%) 0.00 188
    2022-08-01 $249,975 (16.2%) $279,274 (14.3%) 0.00 208
    2022-09-01 $249,100 (13.3%) $280,845 (14.4%) 0.00 213
    2022-10-01 $239,450 (14.1%) $274,037 (11.8%) 0.00 217
    2022-11-01 $230,750 (17.6%) $263,305 (17.9%) 0.00 205
    2022-12-01 $230,000 (12.2%) $260,837 (18.1%) 0.00 187
    2023-01-01 $229,900 (18.7%) $254,741 (23.8%) 0.00 166
    2023-02-01 $224,950 (21.6%) $262,062 (26.8%) 0.00 135
    2023-03-01 $228,700 (14.4%) $282,315 (28.5%) 0.00 125
    2023-04-01 $239,900 (14.2%) $297,455 (30.6%) 0.00 108
    2023-05-01 $241,975 (7.0%) $305,924 (21.3%) 0.00 123
    2023-06-01 $243,550 (1.5%) $304,045 (12.9%) 0.00 131
    2023-07-01 $232,500 (-6.2%) $284,890 (4.7%) 0.00 140
    2023-08-01 $237,450 (-5.0%) $287,877 (3.1%) 0.00 156
    2023-09-01 $235,000 (-5.7%) $281,608 (0.3%) 0.00 180
    2023-10-01 $226,950 (-5.2%) $281,254 (2.6%) 0.00 180
    2023-11-01 $226,725 (-1.7%) $275,064 (4.5%) 0.00 180
    2023-12-01 $227,000 (-1.3%) $275,499 (5.6%) 0.00 164
    2024-01-01 $237,500 (3.3%) $282,279 (10.8%) 0.00 141
    2024-02-01 $249,450 (10.9%) $307,340 (17.3%) 0.00 134
    2024-03-01 $287,450 (25.7%) $315,838 (11.9%) 0.00 126
    Minot's median listing price for 2024-03-01 was $287,450, a difference of $58,750 (25.7%) versus the prior year and $38,000 versus the prior month.

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

    Minot's average listing price for 2024-03-01 was $315,838, a difference of $33,523 (11.9%) versus the prior year and $8,498 versus the prior month.

    For the 2024-03-01 period, Minot had 126 MLS listings, a difference of -8 listings (-6%) versus the prior month and 1 listings (1%) versus the prior year.

    Median Listing Time on Market & Square Footage

    Realtor.com - Minot (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
    Date Median Listing Time on Market Median Square Footage
    2018-01-01 0 days 2,150 sqft
    2018-02-01 0 days 2,154 sqft
    2018-03-01 0 days 2,164 sqft
    2018-04-01 0 days 2,173 sqft
    2018-05-01 0 days 2,123 sqft
    2018-06-01 0 days 2,182 sqft
    2018-07-01 0 days 2,183 sqft
    2018-08-01 0 days 2,184 sqft
    2018-09-01 0 days 2,196 sqft
    2018-10-01 0 days 2,157 sqft
    2018-11-01 0 days 2,115 sqft
    2018-12-01 0 days 2,079 sqft
    2019-01-01 0 days 2,053 sqft
    2019-02-01 0 days 2,043 sqft
    2019-03-01 0 days 2,027 sqft
    2019-04-01 0 days 2,027 sqft
    2019-05-01 0 days 2,056 sqft
    2019-06-01 0 days 2,080 sqft
    2019-07-01 0 days 2,093 sqft
    2019-08-01 0 days 2,088 sqft
    2019-09-01 0 days 2,086 sqft
    2019-10-01 0 days 2,084 sqft
    2019-11-01 0 days 2,088 sqft
    2019-12-01 0 days 2,046 sqft
    2020-01-01 0 days 2,041 sqft
    2020-02-01 0 days 2,024 sqft
    2020-03-01 0 days 2,069 sqft
    2020-04-01 0 days 2,080 sqft
    2020-05-01 0 days 2,138 sqft
    2020-06-01 0 days 2,150 sqft
    2020-07-01 0 days 2,156 sqft
    2020-08-01 0 days 2,138 sqft
    2020-09-01 0 days 2,095 sqft
    2020-10-01 0 days 2,097 sqft
    2020-11-01 0 days 2,157 sqft
    2020-12-01 0 days 2,183 sqft
    2021-01-01 0 days 2,052 sqft
    2021-02-01 0 days 2,087 sqft
    2021-03-01 0 days 2,115 sqft
    2021-04-01 0 days 2,115 sqft
    2021-05-01 0 days 2,064 sqft
    2021-06-01 0 days 2,116 sqft
    2021-07-01 0 days 2,128 sqft
    2021-08-01 0 days 2,112 sqft
    2021-09-01 0 days 2,105 sqft
    2021-10-01 0 days 2,004 sqft
    2021-11-01 0 days 1,979 sqft
    2021-12-01 0 days 1,979 sqft
    2022-01-01 0 days 1,912 sqft
    2022-02-01 0 days 1,835 sqft
    2022-03-01 0 days 1,951 sqft
    2022-04-01 0 days 1,989 sqft
    2022-05-01 0 days 2,055 sqft
    2022-06-01 0 days 2,026 sqft
    2022-07-01 0 days 2,097 sqft
    2022-08-01 0 days 2,127 sqft
    2022-09-01 0 days 2,152 sqft
    2022-10-01 0 days 2,184 sqft
    2022-11-01 0 days 2,185 sqft
    2022-12-01 0 days 2,178 sqft
    2023-01-01 0 days 2,142 sqft
    2023-02-01 0 days 2,100 sqft
    2023-03-01 0 days 2,047 sqft
    2023-04-01 0 days 2,162 sqft
    2023-05-01 0 days 2,139 sqft
    2023-06-01 0 days 2,197 sqft
    2023-07-01 0 days 2,030 sqft
    2023-08-01 0 days 2,093 sqft
    2023-09-01 0 days 2,160 sqft
    2023-10-01 0 days 2,125 sqft
    2023-11-01 0 days 2,073 sqft
    2023-12-01 0 days 2,035 sqft
    2024-01-01 0 days 2,036 sqft
    2024-02-01 0 days 2,196 sqft
    2024-03-01 0 days 2,245 sqft
    Minot's median listing age (time on market) for 2024-03-01 was 0 days.

    Minot's median square footage for active listings during the 2024-03-01 period was 2,245 sqft. One year prior, the average listing was 2,047 sqft.