North Dakota FHA Loan Rates, Closing Costs & Stats

North Dakota

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    • FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.

    FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.

    While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.

    For additional requirements as defined by the FHA, click here.

    North Dakota FHA Loans, 30 Year Fixed Rates

    30 Year FHA mortgages in North Dakota averaged 6.43% for the week of 2024-04-19, compared to the national average (all FHA variants) of 6.855% for the same period.

    North Dakota's average FHA mortgage closing costs are $7,277.

    The average rate for the prior week (2024-04-12) was 6.72% and one month ago for the week of 2024-03-15, the average rate was 6.19%.

    The average rate one year ago was 6.12%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.6%.

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

    North Dakota FHA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the North Dakota level.

    Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 145 6.56% $9,939
    Gate City Bank 116 6.27% $8,538
    QUICKEN LOANS, LLC 93 6.39% $10,086
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 91 6.63% $6,150
    UNITED WHOLESALE MORTGAGE, LLC 73 6.51% $9,711
    VALLEY MORTGAGE, INC. 47 6.35% $6,154
    Unify Home Lending Inc. 45 6.89% $6,725
    Dakota Community Bank & Trust 39 6.15% $8,321
    U.S. Bank 33 6.72% $7,693
    Bank of England 32 6.77% $10,355
    First International Bank & Trust 31 6.05% $7,232
    TOWN AND COUNTRY Credit Union 24 5.96% $10,191
    FIRST COMMUNITY CREDIT UNION 21 6.11% $7,389
    Nations Lending Corporation 21 6.61% $6,764
    LOANDEPOT.COM, LLC 18 6.71% $12,822
    First Western Bank & Trust 18 6.20% $9,572
    NEWREZ LLC 17 6.63% $9,177
    Flagstar Bank, FSB 17 6.49% $9,425
    CAPITAL CREDIT UNION 15 6.16% $11,260
    WESTERN COOPERATIVE CREDIT UNION 15 6.79% $10,172
    V.I.P. MORTGAGE, INC. 14 6.47% $11,472
    Plains Commerce Bank 14 6.30% $10,961
    American Bank Center 12 6.12% $8,316
    PRIMARY RESIDENTIAL MORTGAGE, INC. 12 7.02% $10,358
    The Huntington National Bank 11 5.91% $8,142
    BROKER SOLUTIONS, INC. 11 6.70% $10,004
    Barrington Bank & Trust Company, N.A. 10 6.58% $8,485
    GUARANTEED RATE, INC. 10 6.86% $9,279
    CARDINAL FINANCIAL 9 6.47% $15,498
    MID AMERICA MORTGAGE, INC. 9 6.92% $4,222
    Alerus Financial 9 6.53% $6,375
    AMCAP MORTGAGE, LTD. 8 6.88% $13,123
    GUILD MORTGAGE COMPANY 8 6.83% $12,420
    FREEDOM MORTGAGE CORPORATION 7 6.63% $14,870
    SeaTrust Mortgage Company 7 6.61% $10,380
    MUTUAL OF OMAHA MORTGAGE, INC. 7 6.82% $14,312
    Western State Bank 7 6.29% $7,407
    SUN WEST MORTGAGE COMPANY, INC. 7 6.54% $9,912
    Bremer Bank 7 6.17% $6,595
    AMERISAVE MORTGAGE CORPORATION 6 6.08% $9,942
    Starion Bank 6 6.16% $7,544
    TOWNE MORTGAGE COMPANY 6 6.64% $12,322
    Mortgage Research Center, LLC 5 7.10% $7,256
    Bell Bank 5 6.53% $9,497
    BAY EQUITY LLC 4 6.40% $11,240
    PENNYMAC LOAN SERVICES, LLC 4 6.37% $10,747
    PREMIER MORTGAGE RESOURCES, L.L.C. 4 7.34% $11,606
    Servion, Inc. 4 6.84% $10,539
    Mr. Cooper ( Nationstar Mortgage ) 4 5.94% $16,733
    FIRST COLONY MORTGAGE CORPORATION 4 6.53% $9,054
    Citizens Bank 4 6.34% $12,218
    MORTGAGE SOLUTIONS OF COLORADO, LLC 3 6.04% $8,917
    BNC National Bank 3 6.29% $10,486
    Dacotah Bank 3 6.89% $7,111
    ZILLOW HOME LOANS, LLC 3 6.08% $11,507
    CRESCENT MORTGAGE COMPANY 3 6.54% $6,904
    ON Q FINANCIAL, INC. 3 7.33% $6,741
    CROSSCOUNTRY MORTGAGE, LLC 2 7.37% $16,133
    CMG MORTGAGE, INC. 2 7.94% $14,416
    JPMorgan Chase Bank 2 7.00% $8,210
    Equity Prime Mortgage LLC 2 7.50% $10,630
    OCMBC, INC. 2 7.50% $8,738
    CHURCHILL MORTGAGE CORPORATION 2 6.44% $11,848
    OPEN MORTGAGE, LLC 2 6.19% $13,943
    Century Mortgage Company DBA Century Lending Company 2 7.25% $12,881
    EVERETT FINANCIAL, INC. 2 6.50% $8,888
    PREMIA MORTGAGE, LLC 2 6.19% $6,982
    PLAZA HOME MORTGAGE, INC. 2 6.00% $10,745
    AMERICAN FINANCIAL NETWORK, INC. 2 7.44% $12,170
    TOTAL MORTGAGE SERVICES, LLC 1 6.75% $10,063
    AMERICAN PACIFIC MORTGAGE CORPORATION 1 5.88% $14,040
    AmeriHome Mortgage Company, LLC 1 6.25% $9,463
    Carrington Mortgage Services, LLC 1 6.63% $20,009
    Chickasaw Community Bank 1 6.88% $5,289
    FIRST COMMUNITY MORTGAGE, INC. 1 7.38% $7,777
    First National Bank of Omaha 1 6.13% $7,268
    First PREMIER Bank 1 5.75% $6,335
    Flanagan State Bank 1 6.63% $10,781
    Florida Capital Bank 1 7.13% $5,003
    GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 6.63% $7,788
    HOMEBRIDGE FINANCIAL SERVICES, INC. 1 7.00% $6,163
    HOMESIDE FINANCIAL, LLC 1 7.25% $9,876
    HOMESTAR FINANCIAL CORPORATION 1 7.25% $7,440
    Home State Bank 1 6.63% $13,143
    LAKEVIEW LOAN SERVICING, LLC 1 6.25% $2,618
    MANN FINANCIAL INC. 1 6.75% $9,514
    MOVEMENT MORTGAGE, LLC 1 6.75% $7,610
    Paramount Residential Mortgage Group, Inc. 1 7.25% $7,110
    PENTAGON FEDERAL CREDIT UNION 1 6.13% $10,777
    PLANET HOME LENDING, LLC 1 5.50% $7,896
    PNC Bank 1 7.38% $5,387
    SOUTHWEST STAGE FUNDING, LLC 1 6.63% $11,361
    VILLAGE CAPITAL MORTGAGE 1 6.13% $18,811

    The top North Dakota FHA lender as defined by loan originations is FAIRWAY INDEPENDENT MORTGAGE CORPORATION, with 145 FHA loans originated. Their average total fees are $9,939, which is $1,401 higher than the next largest lender, Gate City Bank.

    The lowest fee North Dakota FHA lenders (with over 10 loans originated) are ARK-LA-TEX FINANCIAL SERVICES, LLC. ($6,150), VALLEY MORTGAGE, INC. ($6,154), Unify Home Lending Inc. ($6,725), Nations Lending Corporation ($6,764) and First International Bank & Trust ($7,232).

    The lowest rate North Dakota FHA lenders (with over 10 loans originated) are The Huntington National Bank (5.91%), TOWN AND COUNTRY Credit Union (5.96%), First International Bank & Trust (6.05%), FIRST COMMUNITY CREDIT UNION (6.11%) and American Bank Center (6.12%).

    North Dakota FHA Loan Limits

    Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
    NON-METRO ADAMS 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO BARNES 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO BENSON 2022 $420,680 $538,650 $651,050 $809,150
    DICKINSON, ND BILLINGS 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO BOTTINEAU 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO BOWMAN 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO BURKE 2022 $420,680 $538,650 $651,050 $809,150
    BISMARCK, ND BURLEIGH 2022 $420,680 $538,650 $651,050 $809,150
    FARGO, ND-MN CASS 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO CAVALIER 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO DICKEY 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO DIVIDE 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO DUNN 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO EDDY 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO EMMONS 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO FOSTER 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO GOLDEN VALLEY 2022 $420,680 $538,650 $651,050 $809,150
    GRAND FORKS, ND-MN GRAND FORKS 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO GRANT 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO GRIGGS 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO HETTINGER 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO KIDDER 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO LAMOURE 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO LOGAN 2022 $420,680 $538,650 $651,050 $809,150
    MINOT, ND MCHENRY 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO MCINTOSH 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO MCKENZIE 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO MCLEAN 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO MERCER 2022 $420,680 $538,650 $651,050 $809,150
    BISMARCK, ND MORTON 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO MOUNTRAIL 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO NELSON 2022 $420,680 $538,650 $651,050 $809,150
    BISMARCK, ND OLIVER 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO PEMBINA 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO PIERCE 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO RAMSEY 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO RANSOM 2022 $420,680 $538,650 $651,050 $809,150
    MINOT, ND RENVILLE 2022 $420,680 $538,650 $651,050 $809,150
    WAHPETON, ND-MN RICHLAND 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO ROLETTE 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO SARGENT 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO SHERIDAN 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO SIOUX 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO SLOPE 2022 $420,680 $538,650 $651,050 $809,150
    DICKINSON, ND STARK 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO STEELE 2022 $420,680 $538,650 $651,050 $809,150
    JAMESTOWN, ND STUTSMAN 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO TOWNER 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO TRAILL 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO WALSH 2022 $420,680 $538,650 $651,050 $809,150
    MINOT, ND WARD 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO WELLS 2022 $420,680 $538,650 $651,050 $809,150
    WILLISTON, ND WILLIAMS 2022 $420,680 $538,650 $651,050 $809,150
    NON-METRO ADAMS 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO BARNES 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO BENSON 2023 $472,030 $604,400 $730,525 $907,900
    DICKINSON, ND BILLINGS 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO BOTTINEAU 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO BOWMAN 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO BURKE 2023 $472,030 $604,400 $730,525 $907,900
    BISMARCK, ND BURLEIGH 2023 $472,030 $604,400 $730,525 $907,900
    FARGO, ND-MN CASS 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO CAVALIER 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO DICKEY 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO DIVIDE 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO DUNN 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO EDDY 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO EMMONS 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO FOSTER 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO GOLDEN VALLEY 2023 $472,030 $604,400 $730,525 $907,900
    GRAND FORKS, ND-MN GRAND FORKS 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO GRANT 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO GRIGGS 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO HETTINGER 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO KIDDER 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO LAMOURE 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO LOGAN 2023 $472,030 $604,400 $730,525 $907,900
    MINOT, ND MCHENRY 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO MCINTOSH 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO MCKENZIE 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO MCLEAN 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO MERCER 2023 $472,030 $604,400 $730,525 $907,900
    BISMARCK, ND MORTON 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO MOUNTRAIL 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO NELSON 2023 $472,030 $604,400 $730,525 $907,900
    BISMARCK, ND OLIVER 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO PEMBINA 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO PIERCE 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO RAMSEY 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO RANSOM 2023 $472,030 $604,400 $730,525 $907,900
    MINOT, ND RENVILLE 2023 $472,030 $604,400 $730,525 $907,900
    WAHPETON, ND-MN RICHLAND 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO ROLETTE 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO SARGENT 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO SHERIDAN 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO SIOUX 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO SLOPE 2023 $472,030 $604,400 $730,525 $907,900
    DICKINSON, ND STARK 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO STEELE 2023 $472,030 $604,400 $730,525 $907,900
    JAMESTOWN, ND STUTSMAN 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO TOWNER 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO TRAILL 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO WALSH 2023 $472,030 $604,400 $730,525 $907,900
    MINOT, ND WARD 2023 $472,030 $604,400 $730,525 $907,900
    NON-METRO WELLS 2023 $472,030 $604,400 $730,525 $907,900
    WILLISTON, ND WILLIAMS 2023 $472,030 $604,400 $730,525 $907,900

    FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).