Minot Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in Minot averaged
6.47%
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
6.67% and
one month ago for the week of 2025-05-29, the
average rate was 6.79%.
Minot's average rate one year ago was 6.36%.
For refis of the same type during the week of 2025-07-03, the average rate
was 6.87%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2025-07-03 | 6.67% |
| Minot 30 Year Fixed Rate | 2025-07-03 | 6.47% |
| Minot 30 Year Fixed Rate Refi | 2025-07-03 | 6.87% |
| Minot 15 Year Fixed Rate | 2025-07-03 | 5.7% |
| Minot 15 Year Fixed Rate Refi | 2025-07-03 | 5.7% |
| Minot 30 Year FHA | 2025-07-03 | -0.79% |
| Minot 30 Year FHA Refi | 2025-07-03 | 0.2% |
| Minot 30 Year USDA | 2025-07-03 | -0.2% |
| Minot 30 Year USDA Refi | 2025-07-03 | -0.2% |
| Minot 30 Year VA | 2025-07-03 | -0.54% |
| Minot 30 Year VA Refi | 2025-07-03 | 0.1% |
Minot 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 Minot, ND 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.).
Minot Average Closing Costs & Other Stats
Minot, ND's 31 lenders originated 1,367
loans during 2024. The total origination value was $311,335,000, with an average loan value of
$227,751.
Minot's average closing costs are $5,286.
The top Minot lender as defined by loan originations is Gate City Bank, with
54 loans originated. Their average total fees are
$4,987, which is $261
lower than the next largest lender,
First International Bank & Trust.
The lowest fee Minot lenders (with over 10 loans originated) are
Dacotah Bank ($2,238), U.S. Bank ($2,912), ARK-LA-TEX FINANCIAL SERVICES, LLC. ($3,867), First Western Bank & Trust ($4,321) and Gate City Bank ($4,987).
The lowest rate Minot lenders (with over 10 loans originated) are
First Western Bank & Trust (6.23%), Gate City Bank (6.33%), Dacotah Bank (6.34%), TOWN AND COUNTRY Credit Union (6.45%) and FAIRWAY INDEPENDENT MORTGAGE CORPORATION (6.45%).
Minot, ND 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 |
|---|---|---|---|---|
| TOWN AND COUNTRY Credit Union | $40,050,000 | $46,125,000 | 15.2% | 14.8% |
| Gate City Bank | $37,960,000 | $36,550,000 | -3.7% | 11.7% |
| First International Bank & Trust | $26,710,000 | $36,405,000 | 36.3% | 11.7% |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | $21,810,000 | $24,450,000 | 12.1% | 7.9% |
| First Western Bank & Trust | $22,095,000 | $17,215,000 | -22.1% | 5.5% |
| Mortgage Research Center, LLC | $10,505,000 | $16,295,000 | 55.1% | 5.2% |
| GUARANTEED RATE, INC. | $8,875,000 | $13,540,000 | 52.6% | 4.3% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $4,540,000 | $11,250,000 | 147.8% | 3.6% |
| 21ST MORTGAGE CORPORATION | $25,000 | $10,690,000 | 42,660.0% | 3.4% |
| QUICKEN LOANS, LLC | $10,190,000 | $9,875,000 | -3.1% | 3.2% |
| Dacotah Bank | $5,060,000 | $6,635,000 | 31.1% | 2.1% |
| UNITED WHOLESALE MORTGAGE, LLC | $1,500,000 | $5,985,000 | 299.0% | 1.9% |
| American Bank Center | $3,465,000 | $5,670,000 | 63.6% | 1.8% |
| NAVY FEDERAL CREDIT UNION | $1,085,000 | $5,260,000 | 384.8% | 1.7% |
| Flagstar Bank, FSB | $4,390,000 | $5,065,000 | 15.4% | 1.6% |
| FREEDOM MORTGAGE CORPORATION | $735,000 | $4,705,000 | 540.1% | 1.5% |
| U.S. Bank | $3,455,000 | $3,420,000 | -1.0% | 1.1% |
| USAA Federal Savings Bank | $1,945,000 | $2,715,000 | 39.6% | 0.9% |
| Bremer Bank | $495,000 | $2,420,000 | 388.9% | 0.8% |
| PENNYMAC LOAN SERVICES, LLC | $650,000 | $2,360,000 | 263.1% | 0.8% |
| The Greenwood's State Bank | $2,275,000 | n/a | 0.7% | |
| LOANDEPOT.COM, LLC | $375,000 | $1,375,000 | 266.7% | 0.4% |
| Century Mortgage Company DBA Century Lending Company | $1,095,000 | n/a | 0.4% | |
| Starion Bank | $1,020,000 | n/a | 0.3% | |
| CROSSCOUNTRY MORTGAGE, LLC | $215,000 | $995,000 | 362.8% | 0.3% |
| Plains Commerce Bank | $1,130,000 | $995,000 | -11.9% | 0.3% |
| BROKER SOLUTIONS, INC. | $765,000 | $970,000 | 26.8% | 0.3% |
| Servion, Inc. | $625,000 | $950,000 | 52.0% | 0.3% |
| NEWREZ LLC | $575,000 | $845,000 | 47.0% | 0.3% |
| JPMorgan Chase Bank | $945,000 | $835,000 | -11.6% | 0.3% |
| Carrington Mortgage Services, LLC | $815,000 | n/a | 0.3% | |
| Cornerstone Bank | $895,000 | $715,000 | -20.1% | 0.2% |
| Bank of England | $255,000 | $655,000 | 156.9% | 0.2% |
| Choice Financial Group | $610,000 | n/a | 0.2% | |
| Bell Bank | $590,000 | n/a | 0.2% | |
| VILLAGE CAPITAL MORTGAGE | $325,000 | $560,000 | 72.3% | 0.2% |
| Commerce Home Mortgage, Inc. | $545,000 | n/a | 0.2% | |
| AXIA FINANCIAL, LLC | $535,000 | n/a | 0.2% | |
| Wells Fargo Bank | $935,000 | $505,000 | -46.0% | 0.2% |
| ZILLOW HOME LOANS, LLC | $475,000 | n/a | 0.2% | |
| AMERICAN FINANCIAL RESOURCES, INC. | $455,000 | n/a | 0.1% | |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $445,000 | n/a | 0.1% | |
| Kirkwood Bank & Trust Co. | $205,000 | $440,000 | 114.6% | 0.1% |
| Ameris Bank | $435,000 | n/a | 0.1% | |
| DOMINION FINANCIAL SERVICES, LLC | $425,000 | n/a | 0.1% | |
| PNC Bank | $215,000 | $425,000 | 97.7% | 0.1% |
| PLANET HOME LENDING, LLC | $410,000 | n/a | 0.1% | |
| Mr. Cooper ( Nationstar Mortgage ) | $440,000 | $400,000 | -9.1% | 0.1% |
| DAS Acquisition Company, LLC | $385,000 | $385,000 | 0.0% | 0.1% |
| AMERISAVE MORTGAGE CORPORATION | $475,000 | $380,000 | -20.0% | 0.1% |
| BETTER MORTGAGE CORPORATION | $375,000 | n/a | 0.1% | |
| Alerus Financial | $185,000 | $365,000 | 97.3% | 0.1% |
| Armed Forces Bank | $235,000 | $345,000 | 46.8% | 0.1% |
| Pinnacle Bank | $335,000 | n/a | 0.1% | |
| Deere Employees Credit Union | $300,000 | n/a | 0.1% | |
| AgCountry Farm Credit Services, FLCA | $295,000 | n/a | 0.1% | |
| Discover Bank | $280,000 | $295,000 | 5.4% | 0.1% |
| EVERETT FINANCIAL, INC. | $115,000 | $285,000 | 147.8% | 0.1% |
| LAKEVIEW LOAN SERVICING, LLC | $275,000 | n/a | 0.1% | |
| MUTUAL OF OMAHA MORTGAGE, INC. | $190,000 | $265,000 | 39.5% | 0.1% |
| NBKC BANK | $265,000 | n/a | 0.1% | |
| CORNERSTONE HOME LENDING, INC. | $255,000 | $255,000 | 0.0% | 0.1% |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $245,000 | n/a | 0.1% | |
| MOVEMENT MORTGAGE, LLC | $245,000 | n/a | 0.1% | |
| CAPITAL CREDIT UNION | $240,000 | n/a | 0.1% | |
| FIRST COMMUNITY MORTGAGE, INC. | $235,000 | n/a | 0.1% | |
| Oakstar Bank | $235,000 | n/a | 0.1% | |
| Texana Bank | $235,000 | n/a | 0.1% | |
| BANKWEST, INC. | $350,000 | $225,000 | -35.7% | 0.1% |
| BNC National Bank | $55,000 | $225,000 | 309.1% | 0.1% |
| Service Federal Credit Union | $195,000 | n/a | 0.1% | |
| AmeriHome Mortgage Company, LLC | $185,000 | n/a | 0.1% | |
| MORTGAGE SOLUTIONS OF COLORADO, LLC | $165,000 | n/a | 0.1% | |
| Figure Lending LLC | $355,000 | $145,000 | -59.2% | 0.0% |
| Barrington Bank & Trust Company, N.A. | $125,000 | n/a | 0.0% | |
| SIRVA MORTGAGE, INC. | $125,000 | n/a | 0.0% | |
| Citizens Bank | $145,000 | $85,000 | -41.4% | 0.0% |
| Connexus Credit Union | $55,000 | n/a | 0.0% | |
| Baxter Credit Union | $45,000 | n/a | 0.0% | |
| TRIAD FINANCIAL SERVICES, INC. | $255,000 | $45,000 | -82.4% | 0.0% |
| Coastal Community Bank | $80,000 | $40,000 | -50.0% | 0.0% |
Minot's top lender by overall market share is TOWN AND COUNTRY Credit Union, with 14.8% market share. In second place, with 11.7%, is Gate City Bank, having originated $36,550,000 in loans. In third place, with 11.7%, is First International Bank & Trust, having originated $36,405,000 in loans. In fourth place, with 7.9%, is ARK-LA-TEX FINANCIAL SERVICES, LLC., having originated $24,450,000 in loans. In fifth place, with 5.5%, is First Western Bank & Trust, having originated $17,215,000 in loans.
Minot, ND Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 930 | $244,910,000 | $263,344 |
| Cash Out Refi | 148 | $24,750,000 | $167,230 |
| Refi | 138 | $30,080,000 | $217,971 |
| Home Improvement | 82 | $5,430,000 | $66,220 |
| Other | 69 | $6,165,000 | $89,348 |
Minot's most frequently cited loan purpose was Home Purchase, with 930 originations. The 2nd most popular reason was Cash Out Refi, with 148 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 470 | $118,030,000 | $251,128 |
| 5-6% | 324 | $81,010,000 | $250,031 |
| 7-8% | 195 | $40,275,000 | $206,538 |
| Over 8% | 146 | $26,810,000 | $183,630 |
| 4-5% | 97 | $21,695,000 | $223,660 |
| <2.5% | 6 | $1,880,000 | $313,333 |
| 2.5-3% | 5 | $1,195,000 | $239,000 |
| 3-4% | 2 | $250,000 | $125,000 |
During 2024, Minot's most frequently originated rate bucket was 6-7%, with 470 originations.
Loan Sizing (Minot, ND MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $200k-400k | 615 | $172,605,000 | $280,659 |
| $100k-200k | 369 | $56,325,000 | $152,642 |
| $100,000 or less | 278 | $15,170,000 | $54,568 |
| $400k-600k | 84 | $38,870,000 | $462,738 |
| $600k-1000k | 16 | $11,730,000 | $733,125 |
| $Over $1MM | 5 | $16,635,000 | $3,327,000 |
Minot's loan sizing saw the bucket of loans from $200k-400k with 615 originations, totaling $172,605,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 640 | $162,460,000 | $253,844 |
| 60-80% | 176 | $51,530,000 | $292,784 |
| Under 20% | 124 | $5,930,000 | $47,823 |
| 20-40% | 106 | $10,780,000 | $101,698 |
| Over 100% | 102 | $29,520,000 | $289,412 |
| 40-60% | 74 | $15,100,000 | $204,054 |
Minot's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 640 originations, totaling $162,460,000 in origination value.