North Dakota VA Loan Rates, Closing Costs & Stats

North Dakota

A VA loan is a mortgage loan that’s backed by the Department of Veterans Affairs (VA) for those who have served or are presently serving in the U.S. military. The VA does not directly lend, it guarantees the loans made by private lenders to veterans, active military personnel, and qualifying military spouses.

The most obvious benefit of VA loans is that no downpayment is necessary to purchase a home. They will also typically have significantly lower fees-- meaning that if you're eligible to receive a VA loan, it will likely be the most favorable option. VA loans come in 3 varities: purchase, refinance and cash out refis.

For additional benefits of VA loans, click here.

North Dakota VA Loans, 30 Year Fixed Rates

30 Year VA mortgages in North Dakota averaged 6.63% for the week of 2024-03-22, compared to the national average (all VA variants) of 6.539% for the same period.

North Dakota's average VA mortgage closing costs are $5,905.

The average rate for the prior week (2024-03-15) was 6.64% and one month ago for the week of 2024-02-16, the average rate was 6.46%.

The average rate one year ago was 6.3%.

For refis of the same type during the week of 2024-03-22, the average rate was 6.5%.

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

North Dakota VA Loan Lenders by Rates & Fees

The below table looks at the average fees/closing costs and rates for VA 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
Mortgage Research Center, LLC 156 6.81% $5,920
ARK-LA-TEX FINANCIAL SERVICES, LLC. 91 6.22% $6,566
UNITED WHOLESALE MORTGAGE, LLC 63 6.18% $7,114
Gate City Bank 59 5.96% $7,731
TOWN AND COUNTRY Credit Union 44 5.71% $6,232
QUICKEN LOANS, LLC 34 6.23% $11,665
USAA Federal Savings Bank 27 6.67% $6,877
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 21 6.62% $11,044
First International Bank & Trust 19 5.98% $5,039
First Western Bank & Trust 17 6.15% $6,299
NAVY FEDERAL CREDIT UNION 17 5.83% $6,265
Barrington Bank & Trust Company, N.A. 16 6.35% $6,230
FREEDOM MORTGAGE CORPORATION 14 6.83% $11,297
GUARANTEED RATE, INC. 14 6.33% $5,531
FIRST COMMUNITY CREDIT UNION 12 5.89% $6,427
VALLEY MORTGAGE, INC. 12 6.24% $9,067
Flagstar Bank, FSB 12 6.46% $8,354
The Federal Savings Bank 11 6.30% $16,432
Wells Fargo Bank 10 5.74% $7,847
Dakota Community Bank & Trust 10 5.65% $8,465
PENNYMAC LOAN SERVICES, LLC 10 5.54% $8,096
CAPITAL CREDIT UNION 9 6.11% $12,754
LOANDEPOT.COM, LLC 9 5.88% $10,917
Mr. Cooper ( Nationstar Mortgage ) 8 5.89% $12,364
Dacotah Bank 7 6.41% $4,893
U.S. Bank 7 6.16% $6,937
BROKER SOLUTIONS, INC. 5 5.98% $10,846
NEWREZ LLC 5 6.20% $7,617
Nations Lending Corporation 5 6.21% $7,865
The Huntington National Bank 5 6.23% $7,764
PRIMARY RESIDENTIAL MORTGAGE, INC. 5 6.05% $8,741
PREMIER MORTGAGE RESOURCES, L.L.C. 5 6.60% $9,367
Bank of England 5 6.83% $5,505
PENTAGON FEDERAL CREDIT UNION 4 5.28% $10,434
American Bank Center 4 5.94% $6,501
NBKC BANK 4 5.47% $4,705
Plains Commerce Bank 3 6.67% $8,786
VILLAGE CAPITAL MORTGAGE 3 6.42% $7,481
Unify Home Lending Inc. 3 6.49% $5,254
CRESCENT MORTGAGE COMPANY 3 6.46% $8,159
JPMorgan Chase Bank 3 6.54% $2,278
BAY EQUITY LLC 3 6.71% $15,939
MORTGAGE SOLUTIONS OF COLORADO, LLC 2 6.56% $10,157
AMCAP MORTGAGE, LTD. 2 6.13% $20,720
LAKEVIEW LOAN SERVICING, LLC 2 5.75% $17,705
Citizens Bank 2 5.88% $7,480
TOWNE MORTGAGE COMPANY 2 7.06% $12,762
AMERISAVE MORTGAGE CORPORATION 2 5.94% $12,464
Western State Bank 2 6.75% $1,926
Bell Bank 2 6.88% $4,050
Armed Forces Bank 2 5.63% $14,586
MUTUAL OF OMAHA MORTGAGE, INC. 1 7.25% $3,781
Bank of America 1 6.63% $4,746
BNC National Bank 1 6.38% $16,834
Bremer Bank 1 6.75% $5,655
CARDINAL FINANCIAL 1 5.50% $5,947
CITYWIDE HOME LOANS, LLC 1 6.75% $16,444
CORNERSTONE HOME LENDING, INC. 1 6.63% $16,609
CROSSCOUNTRY MORTGAGE, LLC 1 7.13% $26,705
DAS Acquisition Company, LLC 1 7.75% $750
Equity Prime Mortgage LLC 1 7.38% $5,796
First Bank & Trust 1 5.50% $7,059
FIRST COLONY MORTGAGE CORPORATION 1 6.25% $800
First Federal Bank 1 6.75% $6,483
Gateway First Bank 1 6.75% $771
GUARANTEED RATE AFFINITY, LLC 1 6.75% $413
MOVEMENT MORTGAGE, LLC 1 6.13% $12,667
Alerus Financial 1 6.25% $366
PRIMELENDING, A PLAINSCAPITAL COMPANY 1 6.99% $8,061
Prosperity Home Mortgage, LLC 1 6.63% $1,988
Servion, Inc. 1 6.25% $4,365
WESTERN COOPERATIVE CREDIT UNION 1 6.00% $14,707
West Gate Bank 1 6.99% $3,390

The top North Dakota VA lender as defined by loan originations is Mortgage Research Center, LLC, with 156 VA loans originated. Their average total fees are $5,920, which is $646 lower than the next largest lender, ARK-LA-TEX FINANCIAL SERVICES, LLC..

The lowest fee North Dakota VA lenders (with over 10 loans originated) are First International Bank & Trust ($5,039), GUARANTEED RATE, INC. ($5,531), Mortgage Research Center, LLC ($5,920), Barrington Bank & Trust Company, N.A. ($6,230) and TOWN AND COUNTRY Credit Union ($6,232).

The lowest rate North Dakota VA lenders (with over 10 loans originated) are PENNYMAC LOAN SERVICES, LLC (5.54%), Dakota Community Bank & Trust (5.65%), TOWN AND COUNTRY Credit Union (5.71%), Wells Fargo Bank (5.74%) and NAVY FEDERAL CREDIT UNION (5.83%).

VA Loan Features

  • No down payment required
  • Negotiable and competitive interest rate.
  • Ability to finance the VA funding fee (plus reduced funding fees with a down payment of at least 5 percent and exemption for veterans receiving VA compensation).
  • VA rules limit the amount you can be charged for closing costs.
  • Closing costs are comparable with other financing types (and may be lower).
  • Closing costs may be paid by the seller.
  • No private mortgage insurance premiums are required.
  • An assumable mortgage.
  • Right to prepay your mortgage without penalty.
  • For homes inspected by VA during construction, a warranty from builder and assistance from VA to obtain cooperation of builder.
  • VA assistance to veteran borrowers in default due to temporary financial difficulty.