Fergus Falls Mortgage Rates & Closing Costs

30yr Fixed Rate 15yr Fixed Rate FHA USDA VA 5/1 ARM

30 Year Fixed Rate mortgages in Fergus Falls averaged 6.8% for the week of 2025-07-03, compared to the national average of 6.67% for the same period.

The average rate for the prior week (2025-06-26) was 7% and one month ago for the week of 2025-05-29, the average rate was 7.02%.

Fergus Falls's average rate one year ago was 6.69%.

For refis of the same type during the week of 2025-07-03, the average rate was 6.77%.

Loan Type Date Rate
US 30 Year Fixed Rate 2025-07-03 6.67%
Fergus Falls 30 Year Fixed Rate 2025-07-03 6.8%
Fergus Falls 30 Year Fixed Rate Refi 2025-07-03 6.77%
Fergus Falls 15 Year Fixed Rate 2025-07-03 5.7%
Fergus Falls 15 Year Fixed Rate Refi 2025-07-03 6.2%
Fergus Falls 30 Year FHA 2025-07-03 0.1%
Fergus Falls 30 Year FHA Refi 2025-07-03 0.1%
Fergus Falls 30 Year USDA 2025-07-03 -0.2%
Fergus Falls 30 Year USDA Refi 2025-07-03 0.2%
Fergus Falls 30 Year VA 2025-07-03 0%
Fergus Falls 30 Year VA Refi 2025-07-03 0.1%
Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations within Fergus Falls, MN.

Fergus Falls Top Lenders by Rates & Fees

The below table looks at the consensus average rates and fees provided by each lender, for only loans originated in the Fergus Falls, MN market. This includes FHA, Conventional, USDA and VA loans, as well as refis. All terms in the below chart are 30 year fixed rate. Unless noted otherwise, other data is all inclusive (FHA, ARM, 15-yr, etc.).

Name # of Loans 2024 Avg. 30yFix Rate 2024 Avg. Closing Costs
UNITED WHOLESALE MORTGAGE, LLC 59 6.93% $5,872
Gate City Bank 58 6.28% $5,888
Bell Bank 44 6.83% $4,588
Tradition Mortgage, LLC 29 6.76% $5,442
QUICKEN LOANS, LLC 22 6.86% $7,083
Bremer Bank 22 6.88% $5,656
CENTRAL MINNESOTA Credit Union 16 6.62% $2,977
Merchants Bank 12 6.43% $4,263
AFFINITY PLUS 11 6.51% $3,714
PRIMARY RESIDENTIAL MORTGAGE, INC. 11 6.58% $7,178
U.S. Bank 10 6.84% $5,240
First International Bank & Trust 9 7.51% $6,365
FIRST COMMUNITY CREDIT UNION 7 6.39% $6,223
LOANDEPOT.COM, LLC 6 7.02% $6,870
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 6 7.00% $5,550
Nations Lending Corporation 5 6.65% $7,563
BROKER SOLUTIONS, INC. 5 6.80% $8,525
Choice Financial Group 5 6.50% $7,730
GUARANTEED RATE, INC. 5 6.73% $5,091
American Mortgage & Equity Consultants, Inc. 5 6.73% $9,071
PLAZA HOME MORTGAGE, INC. 4 6.90% $4,415
ENVOY MORTGAGE, LTD 4 7.09% $5,062
Flagstar Bank, FSB 4 6.87% $5,091
TOWN AND COUNTRY Credit Union 4 6.75% $4,356
Wells Fargo Bank 4 6.69% $4,927
PRIMELENDING, A PLAINSCAPITAL COMPANY 3 6.96% $3,969
SPIRE Credit Union 3 6.50% $3,008
PENNYMAC LOAN SERVICES, LLC 3 6.87% $7,497
NEWREZ LLC 3 7.42% $7,441
CROSSCOUNTRY MORTGAGE, LLC 3 7.04% $11,132
Mr. Cooper ( Nationstar Mortgage ) 2 7.31% $4,544
VALLEY MORTGAGE, INC. 2 6.75% $4,458
BMO Harris Bank 2 7.56% $3,782
WINGS FINANCIAL 2 5.94% $3,357
ZILLOW HOME LOANS, LLC 2 6.56% $8,462
BAY EQUITY LLC 2 6.68% $5,273
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 2 6.81% $4,275
FREEDOM MORTGAGE CORPORATION 2 7.13% $7,404
Alerus Financial 2 7.38% $6,247
First Dakota National Bank 2 6.75% $3,792
UBS Bank USA 2 6.44% $4,173
CAPITAL CREDIT UNION 2 5.88% $4,712
Truist 1 6.63% $4,529
AMERICAN PACIFIC MORTGAGE CORPORATION 1 7.00% $8,674
Associated Bank 1 6.50% $8,398
Bank of America 1 6.88% $4,473
Baxter Credit Union 1 6.88% $1,514
BETTER MORTGAGE CORPORATION 1 5.75% $7,686
Cambria Financial Group, LLC 1 7.50% $11,205
CANOPY MORTGAGE, LLC 1 6.38% $5,718
Charles Schwab Bank, SSB 1 5.50% $120
CHURCHILL MORTGAGE CORPORATION 1 6.13% $3,734
Citizens Bank 1 7.00% $4,729
Connexus Credit Union 1 6.29% $1,554
Dakota Community Bank & Trust 1 6.50% $4,034
Deerwood Bank 1 6.38% $5,369
First Bank 1 7.38% $3,377
First Federal Bank 1 7.00% $5,148
GENISYS 1 5.75% $3,233
Granite Community Bank 1 6.38% $3,797
HomeTown Bank 1 6.88% $8,012
Liberty Bank Minnesota 1 7.13% $1,485
Loan Simple, Inc. 1 7.00% $7,019
MEMBERS COOPERATIVE 1 6.88% $5,159
Morgan Stanley Private Bank 1 6.58% $3,552
NATIONS DIRECT MORTGAGE, LLC 1 7.50% $17,458
NBKC BANK 1 7.63% $6,842
Paramount Residential Mortgage Group, Inc. 1 7.99% $18,796
Plains Commerce Bank 1 6.88% $3,591
Residential Mortgage Solutions, Inc. 1 6.38% $3,642
Royal Credit Union 1 7.13% $3,638
Starion Bank 1 6.63% $6,391
Summit Mortgage Corporation 1 7.25% $4,278
SUN WEST MORTGAGE COMPANY, INC. 1 8.63% $5,575
SWBC MORTGAGE CORPORATION 1 7.63% $14,571
The Huntington National Bank 1 7.88% $8,422
TOPLINE FEDERAL CREDIT UNION 1 6.88% $7,915
TRUSTONE FINANCIAL FEDERAL CREDIT UNION 1 7.00% $4,003
UNION HOME MORTGAGE CORP. 1 8.63% $5,672
West Gate Bank 1 6.13% $11,013

Fergus Falls Average Closing Costs & Other Stats

Fergus Falls, MN's 80 lenders originated 1,189 loans during 2024. The total origination value was $270,385,000, with an average loan value of $227,405.

Fergus Falls's average closing costs are $4,767.

The top Fergus Falls lender as defined by loan originations is UNITED WHOLESALE MORTGAGE, LLC, with 59 loans originated. Their average total fees are $5,872, which is $16 lower than the next largest lender, Gate City Bank.

The lowest fee Fergus Falls lenders (with over 10 loans originated) are CENTRAL MINNESOTA Credit Union ($2,977), AFFINITY PLUS ($3,714), Merchants Bank ($4,263), Bell Bank ($4,588) and U.S. Bank ($5,240).

The lowest rate Fergus Falls lenders (with over 10 loans originated) are Gate City Bank (6.28%), Merchants Bank (6.43%), AFFINITY PLUS (6.51%), PRIMARY RESIDENTIAL MORTGAGE, INC. (6.58%) and CENTRAL MINNESOTA Credit Union (6.62%).

Fergus Falls, MN Mortgage Market Share & Volume

Loan origination value is a good proxy for a lender's prominence within the market. The general assumption is that larger lenders will have more resources, but may spend more (and therefore charge more) on marketing and overhead expenses.

Name 2023 Loan Value 2024 Loan Value % Change 2024 Market Share
Gate City Bank $23,520,000 $27,160,000 15.5% 10.0%
Bell Bank $30,090,000 $27,040,000 -10.1% 10.0%
UNITED WHOLESALE MORTGAGE, LLC $16,700,000 $23,005,000 37.8% 8.5%
Bremer Bank $15,470,000 $15,490,000 0.1% 5.7%
QUICKEN LOANS, LLC $6,845,000 $12,335,000 80.2% 4.6%
Tradition Mortgage, LLC $7,520,000 $9,825,000 30.7% 3.6%
First International Bank & Trust $7,400,000 $7,445,000 0.6% 2.8%
Kensington Bank $55,000 $7,130,000 12,863.6% 2.6%
American Federal Bank $6,125,000 $6,655,000 8.7% 2.5%
AFFINITY PLUS $6,655,000 $5,835,000 -12.3% 2.2%
Midwest Bank $4,145,000 $5,635,000 35.9% 2.1%
U.S. Bank $5,355,000 $5,200,000 -2.9% 1.9%
PRIMARY RESIDENTIAL MORTGAGE, INC. $4,755,000 $4,310,000 -9.4% 1.6%
Mortgage Research Center, LLC $3,455,000 $3,910,000 13.2% 1.4%
CENTRAL MINNESOTA Credit Union $3,750,000 $3,705,000 -1.2% 1.4%
FIRST COMMUNITY CREDIT UNION $2,225,000 $3,375,000 51.7% 1.2%
AgCountry Farm Credit Services, FLCA $1,510,000 $3,145,000 108.3% 1.2%
TOWN AND COUNTRY Credit Union $810,000 $3,135,000 287.0% 1.2%
PENNYMAC LOAN SERVICES, LLC $1,300,000 $2,805,000 115.8% 1.0%
BMO Harris Bank $2,470,000 $2,765,000 11.9% 1.0%
Alerus Financial $890,000 $2,745,000 208.4% 1.0%
RiverWood Bank $695,000 $2,540,000 265.5% 0.9%
Choice Financial Group $1,775,000 $2,440,000 37.5% 0.9%
American National Bank of Minnesota $2,830,000 $2,305,000 -18.6% 0.9%
NEWREZ LLC $1,280,000 $2,170,000 69.5% 0.8%
Merchants Bank $1,645,000 $2,155,000 31.0% 0.8%
BROKER SOLUTIONS, INC. $1,230,000 $2,045,000 66.3% 0.8%
LOANDEPOT.COM, LLC $630,000 $2,035,000 223.0% 0.8%
American Mortgage & Equity Consultants, Inc. $155,000 $2,020,000 1,203.2% 0.7%
UBS Bank USA $525,000 $1,810,000 244.8% 0.7%
GUARANTEED RATE, INC. $2,500,000 $1,775,000 -29.0% 0.7%
Associated Bank $1,685,000 n/a 0.6%
FREEDOM MORTGAGE CORPORATION $415,000 $1,615,000 289.2% 0.6%
Cornerstone Bank $335,000 $1,580,000 371.6% 0.6%
Nations Lending Corporation $1,450,000 $1,575,000 8.6% 0.6%
Union State Bank of Fargo $1,430,000 n/a 0.5%
FAIRWAY INDEPENDENT MORTGAGE CORPORATION $1,095,000 $1,375,000 25.6% 0.5%
NAVY FEDERAL CREDIT UNION $1,270,000 $1,355,000 6.7% 0.5%
Flagstar Bank, FSB $760,000 $1,320,000 73.7% 0.5%
Paramount Residential Mortgage Group, Inc. $965,000 $1,250,000 29.5% 0.5%
First Dakota National Bank $1,210,000 n/a 0.4%
CROSSCOUNTRY MORTGAGE, LLC $545,000 $1,195,000 119.3% 0.4%
ENVOY MORTGAGE, LTD $1,155,000 n/a 0.4%
USAA Federal Savings Bank $470,000 $1,130,000 140.4% 0.4%
VILLAGE CAPITAL MORTGAGE $950,000 $1,080,000 13.7% 0.4%
TRUSTONE FINANCIAL FEDERAL CREDIT UNION $1,535,000 $1,050,000 -31.6% 0.4%
VALLEY MORTGAGE, INC. $690,000 $1,010,000 46.4% 0.4%
Wells Fargo Bank $2,935,000 $965,000 -67.1% 0.4%
MUTUAL OF OMAHA MORTGAGE, INC. $885,000 $950,000 7.3% 0.4%
ZILLOW HOME LOANS, LLC $380,000 $910,000 139.5% 0.3%
Morgan Stanley Private Bank $345,000 $905,000 162.3% 0.3%
Summit Mortgage Corporation $150,000 $905,000 503.3% 0.3%
Plains Commerce Bank $560,000 $890,000 58.9% 0.3%
Mr. Cooper ( Nationstar Mortgage ) $45,000 $885,000 1,866.7% 0.3%
PRIMELENDING, A PLAINSCAPITAL COMPANY $510,000 $850,000 66.7% 0.3%
West Gate Bank $850,000 n/a 0.3%
PLAZA HOME MORTGAGE, INC. $145,000 $820,000 465.5% 0.3%
Security State Bank of Marine $815,000 n/a 0.3%
CAPITAL CREDIT UNION $1,245,000 $805,000 -35.3% 0.3%
PLANET HOME LENDING, LLC $350,000 $790,000 125.7% 0.3%
Liberty Bank Minnesota $350,000 $695,000 98.6% 0.3%
Loan Simple, Inc. $665,000 n/a 0.2%
Heritage Bank $645,000 n/a 0.2%
SPIRE Credit Union $645,000 n/a 0.2%
Charles Schwab Bank, SSB $635,000 n/a 0.2%
Citizens Bank $270,000 $615,000 127.8% 0.2%
Barrington Bank & Trust Company, N.A. $585,000 n/a 0.2%
WINGS FINANCIAL $245,000 $580,000 136.7% 0.2%
FIRST COLONY MORTGAGE CORPORATION $570,000 n/a 0.2%
NATIONS DIRECT MORTGAGE, LLC $565,000 n/a 0.2%
Sherburne State Bank $565,000 n/a 0.2%
American Heritage National Bank $285,000 $540,000 89.5% 0.2%
Cambria Financial Group, LLC $515,000 n/a 0.2%
TOPLINE FEDERAL CREDIT UNION $225,000 $510,000 126.7% 0.2%
HomeTown Bank $485,000 n/a 0.2%
Kirkwood Bank & Trust Co. $485,000 n/a 0.2%
First Bank & Trust $145,000 $480,000 231.0% 0.2%
VISIONBank $700,000 $475,000 -32.1% 0.2%
BAY EQUITY LLC $460,000 $470,000 2.2% 0.2%
Discover Bank $485,000 $470,000 -3.1% 0.2%
SWBC MORTGAGE CORPORATION $465,000 n/a 0.2%
FINANCE OF AMERICA REVERSE LLC $460,000 n/a 0.2%
American Bank Center $455,000 n/a 0.2%
Servion, Inc. $85,000 $445,000 423.5% 0.2%
Texana Bank $425,000 n/a 0.2%
Community First National Bank $415,000 n/a 0.2%
First Western Bank & Trust $2,840,000 $415,000 -85.4% 0.2%
Prosperity Home Mortgage, LLC $715,000 $405,000 -43.4% 0.1%
The Federal Savings Bank $520,000 $385,000 -26.0% 0.1%
Northview Bank $165,000 $380,000 130.3% 0.1%
NEW DAY FINANCIAL, LLC $365,000 n/a 0.1%
AMERICAN FINANCIAL RESOURCES, INC. $355,000 n/a 0.1%
LENDINGHOME FUNDING CORPORATION $350,000 n/a 0.1%
AMERICAN PACIFIC MORTGAGE CORPORATION $345,000 n/a 0.1%
Magnolia Bank $345,000 n/a 0.1%
TOP FLITE FINANCIAL, INC. $165,000 $345,000 109.1% 0.1%
First Federal Bank $335,000 n/a 0.1%
Starion Bank $700,000 $335,000 -52.1% 0.1%
HOMEOWNERS FINANCIAL GROUP USA, LLC $1,530,000 $330,000 -78.4% 0.1%
Granite Community Bank $325,000 n/a 0.1%
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC $555,000 $320,000 -42.3% 0.1%
TRIAD FINANCIAL SERVICES, INC. $25,000 $320,000 1,180.0% 0.1%
THRIVENT Federal Credit Union $310,000 n/a 0.1%
NBKC BANK $680,000 $305,000 -55.1% 0.1%
The Huntington National Bank $1,835,000 $305,000 -83.4% 0.1%
AMERICAN FINANCING CORPORATION $295,000 n/a 0.1%
LOANPAL, LLC $295,000 n/a 0.1%
SUN WEST MORTGAGE COMPANY, INC. $295,000 n/a 0.1%
LENOX FINANCIAL MORTGAGE CORPORATION $285,000 n/a 0.1%
UNION HOME MORTGAGE CORP. $285,000 n/a 0.1%
PREMIER MORTGAGE RESOURCES, L.L.C. $430,000 $280,000 -34.9% 0.1%
GENISYS $270,000 n/a 0.1%
Bank of Colorado $265,000 n/a 0.1%
Deerwood Bank $1,125,000 $260,000 -76.9% 0.1%
AMERISAVE MORTGAGE CORPORATION $135,000 $250,000 85.2% 0.1%
MEMBERS COOPERATIVE $85,000 $235,000 176.5% 0.1%
Peoples Bank $235,000 n/a 0.1%
Bank of America $25,000 $230,000 820.0% 0.1%
Figure Lending LLC $315,000 $225,000 -28.6% 0.1%
MOVEMENT MORTGAGE, LLC $225,000 n/a 0.1%
United Valley Bank $225,000 n/a 0.1%
JPMorgan Chase Bank $220,000 n/a 0.1%
Baxter Credit Union $205,000 n/a 0.1%
Connexus Credit Union $205,000 n/a 0.1%
Truist $205,000 n/a 0.1%
PREMIER LENDING, INC. $190,000 n/a 0.1%
867 $185,000 n/a 0.1%
Residential Mortgage Solutions, Inc. $185,000 n/a 0.1%
First Bank $165,000 n/a 0.1%
CANOPY MORTGAGE, LLC $155,000 n/a 0.1%
BETTER MORTGAGE CORPORATION $145,000 n/a 0.1%
First State Bank $555,000 $145,000 -73.9% 0.1%
COMPEER FINANCIAL, FLCA $345,000 $135,000 -60.9% 0.0%
Royal Credit Union $930,000 $130,000 -86.0% 0.0%
21ST MORTGAGE CORPORATION $125,000 n/a 0.0%
CHURCHILL MORTGAGE CORPORATION $355,000 $125,000 -64.8% 0.0%
Dakota Community Bank & Trust $115,000 n/a 0.0%
Think Mutual Bank $105,000 n/a 0.0%
IDEAL $90,000 n/a 0.0%
Coastal Community Bank $105,000 $80,000 -23.8% 0.0%
Dacotah Bank $65,000 n/a 0.0%
Heartland Credit Union $65,000 n/a 0.0%
Northwest Bank $65,000 n/a 0.0%
LONGBRIDGE FINANCIAL, LLC $145,000 $55,000 -62.1% 0.0%
Highland Bank $45,000 n/a 0.0%
SPRING EQ, LLC $45,000 n/a 0.0%
GREAT RIVER FEDERAL CREDIT UNION $25,000 n/a 0.0%

Fergus Falls's top lender by overall market share is Gate City Bank, with 10.0% market share. In second place, with 10.0%, is Bell Bank, having originated $27,040,000 in loans. In third place, with 8.5%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $23,005,000 in loans. In fourth place, with 5.7%, is Bremer Bank, having originated $15,490,000 in loans. In fifth place, with 4.6%, is QUICKEN LOANS, LLC, having originated $12,335,000 in loans.

Fergus Falls, MN Market Loan Reason

Loan Purpose Originations Total Value Average Loan
Home Purchase 652 $174,890,000 $268,236
Refi 153 $40,455,000 $264,412
Cash Out Refi 135 $31,845,000 $235,889
Home Improvement 130 $11,690,000 $89,923
Other 119 $11,505,000 $96,681

Fergus Falls's most frequently cited loan purpose was Home Purchase, with 652 originations. The 2nd most popular reason was Refi, with 153 originations.

Interest Rate Frequencies

Loan Rate Originations Total Value Average Loan
6-7% 426 $106,490,000 $249,977
7-8% 274 $62,470,000 $227,993
Over 8% 210 $26,290,000 $125,190
5-6% 137 $34,395,000 $251,058
<2.5% 22 $390,000 $17,727
4-5% 8 $3,070,000 $383,750

During 2024, Fergus Falls's most frequently originated rate bucket was 6-7%, with 426 originations.

Loan Sizing (Fergus Falls, MN MSA)

Loan Size Originations Total Value Average Loan
$200k-400k 358 $100,240,000 $280,000
$100k-200k 350 $51,720,000 $147,771
$100,000 or less 324 $15,810,000 $48,796
$400k-600k 104 $49,660,000 $477,500
$600k-1000k 39 $28,165,000 $722,179
$Over $1MM 14 $24,790,000 $1,770,714

Fergus Falls's loan sizing saw the bucket of loans from $200k-400k with 358 originations, totaling $100,240,000 in origination value.

LTV Distribution

Loan to Value Originations Total Value Average Loan
80-100% 388 $104,110,000 $268,325
60-80% 224 $69,860,000 $311,875
Under 20% 186 $8,480,000 $45,591
20-40% 170 $22,230,000 $130,765
40-60% 97 $24,845,000 $256,134
Over 100% 6 $1,590,000 $265,000

Fergus Falls's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 388 originations, totaling $104,110,000 in origination value.