North Dakota USDA Loan Rates, Closing Costs & Stats

North Dakota

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    • USDA loans are zero-downpayment loans targeted towards lower-income households in rural areas. They can be made directly by the US Department of Agriculture or through a participating lender-- and they typically to borrowers with credit scores over 640. They can have subsidized rates, making them very competitive in terms of cost, but they have more stringent standards on who is eligible as well as specific covenants such as only being available in rural areas and limits on home size.

    North Dakota USDA Loans, 30 Year Fixed Rates

    30 Year USDA mortgages in North Dakota averaged 6.62% for the week of 2024-04-19, compared to the national average (all USDA variants) of 6.863% for the same period.

    North Dakota's average USDA mortgage closing costs are $5,826.

    The average rate for the prior week (2024-04-12) was 6.27% and one month ago for the week of 2024-03-15, the average rate was 6.16%.

    The average rate one year ago was 5.99%.

    For refis of the same type during the week of 2024-04-19, the average rate was 6.49%.

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

    North Dakota USDA Loan Lenders by Rates & Fees

    The below table looks at the average fees/closing costs and rates for USDA 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
    WESTERN COOPERATIVE CREDIT UNION 12 5.96% $7,420
    Bank of England 11 6.45% $7,021
    Dakota Community Bank & Trust 11 5.84% $7,186
    American Bank Center 10 5.82% $6,439
    FIRST COMMUNITY CREDIT UNION 10 5.80% $5,985
    FAIRWAY INDEPENDENT MORTGAGE CORPORATION 9 6.18% $6,365
    UNITED WHOLESALE MORTGAGE, LLC 6 6.29% $10,363
    Dacotah Bank 5 6.20% $3,988
    Gate City Bank 4 5.93% $4,125
    First International Bank & Trust 4 5.75% $4,073
    Choice Financial Group 4 5.98% $3,822
    ARK-LA-TEX FINANCIAL SERVICES, LLC. 3 6.38% $5,185
    Flagstar Bank, FSB 3 7.00% $7,799
    Barrington Bank & Trust Company, N.A. 2 6.50% $4,020
    CAPITAL CREDIT UNION 2 6.19% $6,641
    FIRST COLONY MORTGAGE CORPORATION 2 6.56% $3,067
    TOP FLITE FINANCIAL, INC. 2 6.94% $6,080
    TOWN AND COUNTRY Credit Union 2 6.06% $5,620
    Unify Home Lending Inc. 2 7.00% $3,116
    Nations Lending Corporation 2 5.83% $1,514
    U.S. Bank 2 7.00% $4,738
    NEWREZ LLC 2 7.25% $5,078
    BAY EQUITY LLC 1 6.75% $7,100
    CARDINAL FINANCIAL 1 6.25% $8,910
    AMERISAVE MORTGAGE CORPORATION 1 6.25% $6,825
    AMERICAN FINANCIAL NETWORK, INC. 1 5.50% $7,234
    First Federal Bank 1 6.50% $4,494
    First Savings Bank 1 7.13% $5,777
    Bremer Bank 1 5.50% $4,283
    GUARANTEED RATE, INC. 1 6.75% $4,136
    PRIMARY RESIDENTIAL MORTGAGE, INC. 1 5.75% $9,684
    PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.25% $5,990
    Servion, Inc. 1 5.50% $4,260

    The top North Dakota USDA lender as defined by loan originations is WESTERN COOPERATIVE CREDIT UNION, with 12 USDA loans originated. Their average total fees are $7,420, which is $399 higher than the next largest lender, Bank of England.

    The lowest fee North Dakota USDA lenders (with over 10 loans originated) are FIRST COMMUNITY CREDIT UNION ($5,985), American Bank Center ($6,439), Bank of England ($7,021), Dakota Community Bank & Trust ($7,186) and WESTERN COOPERATIVE CREDIT UNION ($7,420).

    The lowest rate North Dakota USDA lenders (with over 10 loans originated) are FIRST COMMUNITY CREDIT UNION (5.80%), American Bank Center (5.82%), Dakota Community Bank & Trust (5.84%), WESTERN COOPERATIVE CREDIT UNION (5.96%) and Bank of England (6.45%).