Fergus Falls Mortgage Rates & Closing Costs
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% |
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.).
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.