North Dakota FHA Loan Rates, Closing Costs & Stats

North Dakota

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 -0.64% for the week of 2024-02-23, compared to the national average (all FHA variants) of 0% for the same period.

North Dakota's average FHA mortgage closing costs are $7,007.

The average rate for the prior week (2024-02-16) was 6.09% and one month ago for the week of 2024-01-19, the average rate was 5.74%.

The average rate one year ago was 5.9%.

For refis of the same type during the week of 2024-02-23, the average rate was -1.58%.

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 2022 Avg. 30yFix Rate 2022 Avg. Closing Costs
Gate City Bank 101 4.42% $8,019
UNITED WHOLESALE MORTGAGE, LLC 101 4.86% $8,460
QUICKEN LOANS, LLC 100 4.35% $9,014
ARK-LA-TEX FINANCIAL SERVICES, LLC. 83 5.28% $5,841
Unify Home Lending Inc. 69 5.20% $6,084
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 65 5.20% $8,485
CALIBER HOME LOANS, INC. 56 4.42% $8,027
VALLEY MORTGAGE, INC. 50 4.46% $6,200
Flagstar Bank, FSB 37 4.51% $8,246
First International Bank & Trust 32 4.42% $6,691
LOANDEPOT.COM, LLC 31 5.08% $10,030
CARDINAL FINANCIAL 29 5.01% $15,034
The Huntington National Bank 28 4.76% $6,832
Dakota Community Bank & Trust 27 4.38% $8,781
GUARANTEED RATE, INC. 26 4.97% $10,469
PENNYMAC LOAN SERVICES, LLC 24 3.91% $7,755
TOWN AND COUNTRY Credit Union 23 4.13% $8,795
First Western Bank & Trust 22 4.93% $7,126
AMCAP MORTGAGE, LTD. 20 5.13% $11,497
U.S. Bank 20 4.95% $7,100
Bank of England 20 5.39% $9,583
Plains Commerce Bank 18 4.51% $10,283
Barrington Bank & Trust Company, N.A. 17 4.73% $8,435
FIRST COMMUNITY CREDIT UNION 15 5.12% $7,274
Bremer Bank 15 5.08% $6,620
WESTERN COOPERATIVE CREDIT UNION 14 4.86% $9,156
BROKER SOLUTIONS, INC. 14 5.47% $8,309
GUILD MORTGAGE COMPANY 14 4.78% $10,032
Western State Bank 14 4.74% $6,814
AMERISAVE MORTGAGE CORPORATION 14 4.58% $11,653
MID AMERICA MORTGAGE, INC. 13 4.88% $4,243
Servion, Inc. 12 5.10% $6,970
FREEDOM MORTGAGE CORPORATION 10 4.57% $8,579
Mortgage Research Center, LLC 10 5.74% $5,984
Mr. Cooper ( Nationstar Mortgage ) 9 3.96% $9,367
HOME POINT FINANCIAL CORPORATION 8 4.94% $10,035
CAPITAL CREDIT UNION 7 3.82% $8,647
BNC National Bank 7 4.35% $9,163
Starion Bank 7 3.89% $8,350
Alerus Financial 7 5.41% $4,749
American Bank Center 7 5.11% $8,139
HOMESTAR FINANCIAL CORPORATION 5 4.68% $8,607
Citizens Bank 5 4.13% $7,780
AMERICAN FINANCING CORPORATION 5 5.05% $9,878
Florida Capital Bank 5 4.23% $6,932
FINANCE OF AMERICA MORTGAGE LLC 4 5.22% $14,337
PRIMARY RESIDENTIAL MORTGAGE, INC. 4 5.53% $12,895
Nations Lending Corporation 4 4.75% $9,668
NEWREZ LLC 4 4.65% $9,507
Wells Fargo Bank 3 5.54% $9,029
Dacotah Bank 3 4.69% $5,916
Hometown Lenders, Inc. 3 4.96% $11,279
FIRST COLONY MORTGAGE CORPORATION 3 6.50% $9,709
AMERICAN FINANCIAL RESOURCES, INC. 3 5.88% $9,805
MUTUAL OF OMAHA MORTGAGE, INC. 3 5.42% $12,171
BETTER MORTGAGE CORPORATION 3 4.00% $15,406
Paramount Residential Mortgage Group, Inc. 2 4.50% $8,927
HOMESIDE FINANCIAL, LLC 2 5.31% $8,913
PREMIA MORTGAGE, LLC 2 4.06% $6,132
CROSSCOUNTRY MORTGAGE, LLC 2 4.44% $10,148
Bell Bank 2 5.38% $5,730
EVERETT FINANCIAL, INC. 2 4.88% $7,380
CMG MORTGAGE, INC. 2 5.94% $10,823
ON Q FINANCIAL, INC. 2 5.50% $7,193
LAKEVIEW LOAN SERVICING, LLC 2 3.44% $3,982
Gateway First Bank 2 5.88% $8,249
Willamette Valley Bank 1 5.75% $10,773
American Mortgage & Equity Consultants, Inc. 1 4.13% $9,155
Amerifirst Financial, Inc. 1 3.75% $13,148
Bank of the West 1 7.25% $6,955
Century Mortgage Company DBA Century Lending Company 1 4.75% $5,172
CRESCENT MORTGAGE COMPANY 1 5.13% $5,240
Equity Prime Mortgage LLC 1 7.75% $11,836
First Interstate Bank 1 4.75% $8,903
First Savings Bank 1 5.25% $6,802
HOMEBRIDGE FINANCIAL SERVICES, INC. 1 7.50% $14,515
Lend Smart Mortgage, LLC 1 5.00% $10,594
NATIONS RELIABLE LENDING, LLC 1 5.63% $11,247
NBH Bank 1 3.88% $3,665
NETWORK CAPITAL FUNDING CORPORATION 1 5.63% $18,913
Paramount Bank 1 6.50% $9,190
PENTAGON FEDERAL CREDIT UNION 1 3.13% $7,581
PLAZA HOME MORTGAGE, INC. 1 2.88% $7,687
PREMIER MORTGAGE RESOURCES, L.L.C. 1 5.88% $15,297
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 5.25% $14,998
Reliabank Dakota 1 3.25% $6,036
Stockman Bank of Montana 1 3.25% $6,991
The Federal Savings Bank 1 4.50% $12,280
VILLAGE CAPITAL MORTGAGE 1 2.99% $1,612
ALAMEDA MORTGAGE CORPORATION 1 5.50% $7,499

The top North Dakota FHA lender as defined by loan originations is Gate City Bank, with 101 FHA loans originated. Their average total fees are $8,019, which is $442 lower than the next largest lender, UNITED WHOLESALE MORTGAGE, LLC.

The lowest fee North Dakota FHA lenders (with over 10 loans originated) are MID AMERICA MORTGAGE, INC. ($4,243), ARK-LA-TEX FINANCIAL SERVICES, LLC. ($5,841), Mortgage Research Center, LLC ($5,984), Unify Home Lending Inc. ($6,084) and VALLEY MORTGAGE, INC. ($6,200).

The lowest rate North Dakota FHA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (3.91%), TOWN AND COUNTRY Credit Union (4.13%), QUICKEN LOANS, LLC (4.35%), Dakota Community Bank & Trust (4.38%) and CALIBER HOME LOANS, INC. (4.42%).

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).