North Dakota Mortgage Rates & Closing Costs
30 Year Fixed Rate mortgages in North Dakota averaged
6.41%
for the week of 2024-12-12, compared to the national average of
6.6% for the same period.
The average rate for the prior week (2024-12-05) was
6.5% and
one month ago for the week of 2024-11-07, the
average rate was 6.7%.
North Dakota's average rate one year ago was 6.84%.
For refis of the same type during the week of 2024-12-12, the average rate
was 6.45%.
| Loan Type | Date | Rate |
|---|---|---|
| US 30 Year Fixed Rate | 2024-12-12 | 6.6% |
| North Dakota 30 Year Fixed Rate | 2024-12-12 | 6.41% |
| North Dakota 30 Year Fixed Rate Refi | 2024-12-12 | 6.45% |
| North Dakota 15 Year Fixed Rate | 2024-12-12 | 6.27% |
| North Dakota 15 Year Fixed Rate Refi | 2024-12-12 | 5.74% |
| North Dakota 30 Year FHA | 2024-12-12 | 5.97% |
| North Dakota 30 Year FHA Refi | 2024-12-12 | 6.08% |
| North Dakota 30 Year USDA | 2024-12-12 | 5.93% |
| North Dakota 30 Year USDA Refi | 2024-12-12 | 6.1% |
| North Dakota 30 Year VA | 2024-12-12 | 5.69% |
| North Dakota 30 Year VA Refi | 2024-12-12 | 6.18% |
North Dakota 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 North Dakota 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.).
North Dakota Average Closing Costs & Other Stats
North Dakota's 153 lenders originated 11,922
loans during 2023. The total origination value was $2,893,600,000, with an average loan value of
$242,711.
North Dakota's average closing costs are $5,043.
The top North Dakota lender as defined by loan originations is Gate City Bank, with
781 loans originated. Their average total fees are
$5,565, which is $210
higher than the next largest lender,
UNITED WHOLESALE MORTGAGE, LLC.
The lowest fee North Dakota lenders (with over 10 loans originated) are
MANN FINANCIAL INC. ($573), Alerus Financial ($2,911), Deere Employees Credit Union ($3,104), JPMorgan Chase Bank ($3,240) and Western State Bank ($3,446).
The lowest rate North Dakota lenders (with over 10 loans originated) are
MANN FINANCIAL INC. (5.26%), Starion Bank (5.63%), Gate City Bank (6.08%), Choice Financial Group (6.21%) and First Western Bank & Trust (6.24%).
North Dakota 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 | 2022 Loan Value | 2023 Loan Value | % Change | 2023 Market Share |
|---|---|---|---|---|
| Gate City Bank | $632,705,000 | $407,640,000 | -35.6% | 14.1% |
| First International Bank & Trust | $249,985,000 | $154,645,000 | -38.1% | 5.3% |
| UNITED WHOLESALE MORTGAGE, LLC | $155,070,000 | $115,860,000 | -25.3% | 4.0% |
| Bell Bank | $180,445,000 | $99,385,000 | -44.9% | 3.4% |
| FIRST COMMUNITY CREDIT UNION | $102,050,000 | $91,435,000 | -10.4% | 3.2% |
| TOWN AND COUNTRY Credit Union | $118,455,000 | $90,545,000 | -23.6% | 3.1% |
| FAIRWAY INDEPENDENT MORTGAGE CORPORATION | $62,070,000 | $88,970,000 | 43.3% | 3.1% |
| CAPITAL CREDIT UNION | $154,605,000 | $83,645,000 | -45.9% | 2.9% |
| Bremer Bank | $116,255,000 | $82,230,000 | -29.3% | 2.8% |
| First Western Bank & Trust | $116,985,000 | $78,305,000 | -33.1% | 2.7% |
| ARK-LA-TEX FINANCIAL SERVICES, LLC. | $89,545,000 | $77,595,000 | -13.3% | 2.7% |
| Choice Financial Group | $121,590,000 | $73,080,000 | -39.9% | 2.5% |
| Alerus Financial | $50,970,000 | $72,400,000 | 42.0% | 2.5% |
| QUICKEN LOANS, LLC | $104,125,000 | $67,995,000 | -34.7% | 2.3% |
| U.S. Bank | $85,225,000 | $62,860,000 | -26.2% | 2.2% |
| Dakota Community Bank & Trust | $70,510,000 | $59,695,000 | -15.3% | 2.1% |
| Security First Bank of North Dakota | $10,185,000 | $53,380,000 | 424.1% | 1.8% |
| VALLEY MORTGAGE, INC. | $61,485,000 | $51,075,000 | -16.9% | 1.8% |
| Dacotah Bank | $53,980,000 | $47,205,000 | -12.6% | 1.6% |
| Wells Fargo Bank | $67,505,000 | $46,085,000 | -31.7% | 1.6% |
| American Bank Center | $82,225,000 | $45,310,000 | -44.9% | 1.6% |
| Starion Bank | $89,360,000 | $44,550,000 | -50.1% | 1.5% |
| BERKADIA COMMERCIAL MORTGAGE LLC | $1,825,000 | $44,535,000 | 2,340.3% | 1.5% |
| BELLWETHER ENTERPRISE REAL ESTATE CAPITAL, LLC | $59,450,000 | $43,055,000 | -27.6% | 1.5% |
| Mortgage Research Center, LLC | $55,625,000 | $41,835,000 | -24.8% | 1.4% |
| GUARANTEED RATE, INC. | $57,915,000 | $37,440,000 | -35.4% | 1.3% |
| Bank Forward | $20,675,000 | $36,230,000 | 75.2% | 1.3% |
| American Federal Bank | $42,360,000 | $30,800,000 | -27.3% | 1.1% |
| Unify Home Lending Inc. | $35,885,000 | $23,620,000 | -34.2% | 0.8% |
| Bank of England | $33,555,000 | $22,190,000 | -33.9% | 0.8% |
| VISIONBank | $12,780,000 | $20,755,000 | 62.4% | 0.7% |
| Flagstar Bank, FSB | $34,590,000 | $19,480,000 | -43.7% | 0.7% |
| Cornerstone Bank | $35,255,000 | $18,895,000 | -46.4% | 0.7% |
| NEWREZ LLC | $15,725,000 | $18,885,000 | 20.1% | 0.7% |
| Union State Bank of Fargo | $17,610,000 | $18,475,000 | 4.9% | 0.6% |
| Kirkwood Bank & Trust Co. | $30,000,000 | $18,140,000 | -39.5% | 0.6% |
| WESTERN COOPERATIVE CREDIT UNION | $21,785,000 | $17,595,000 | -19.2% | 0.6% |
| Arbor Realty Trust, Inc. | $15,675,000 | n/a | 0.5% | |
| Western State Bank | $73,485,000 | $15,560,000 | -78.8% | 0.5% |
| Barrington Bank & Trust Company, N.A. | $24,555,000 | $15,230,000 | -38.0% | 0.5% |
| BNC National Bank | $38,790,000 | $13,800,000 | -64.4% | 0.5% |
| Plains Commerce Bank | $25,410,000 | $13,355,000 | -47.4% | 0.5% |
| LOANDEPOT.COM, LLC | $32,345,000 | $12,730,000 | -60.6% | 0.4% |
| Unison Bank | $19,975,000 | $12,435,000 | -37.7% | 0.4% |
| The Huntington National Bank | $26,445,000 | $11,710,000 | -55.7% | 0.4% |
| PENNYMAC LOAN SERVICES, LLC | $22,365,000 | $11,350,000 | -49.3% | 0.4% |
| First State Bank | $14,740,000 | $11,255,000 | -23.6% | 0.4% |
| Nations Lending Corporation | $1,005,000 | $11,115,000 | 1,006.0% | 0.4% |
| JPMorgan Chase Bank | $13,605,000 | $10,890,000 | -20.0% | 0.4% |
| USAA Federal Savings Bank | $15,910,000 | $10,505,000 | -34.0% | 0.4% |
| RAILWAY CREDIT UNION | $8,570,000 | $8,865,000 | 3.4% | 0.3% |
| Frandsen Bank & Trust | $6,820,000 | $8,815,000 | 29.3% | 0.3% |
| WALKER & DUNLOP, LLC | $8,215,000 | n/a | 0.3% | |
| BAY EQUITY LLC | $1,745,000 | $8,050,000 | 361.3% | 0.3% |
| BROKER SOLUTIONS, INC. | $5,995,000 | $7,630,000 | 27.3% | 0.3% |
| NAVY FEDERAL CREDIT UNION | $14,395,000 | $7,315,000 | -49.2% | 0.3% |
| FREEDOM MORTGAGE CORPORATION | $16,825,000 | $6,875,000 | -59.1% | 0.2% |
| PRIMARY RESIDENTIAL MORTGAGE, INC. | $8,575,000 | $6,835,000 | -20.3% | 0.2% |
| Mr. Cooper ( Nationstar Mortgage ) | $10,390,000 | $6,680,000 | -35.7% | 0.2% |
| Old National Bank | $285,000 | $6,125,000 | 2,049.1% | 0.2% |
| AgCountry Farm Credit Services, FLCA | $2,685,000 | $6,010,000 | 123.8% | 0.2% |
| VANDERBILT MORTGAGE AND FINANCE, INC. | $5,605,000 | n/a | 0.2% | |
| BMO Harris Bank | $1,145,000 | $5,515,000 | 381.7% | 0.2% |
| VUE COMMUNITY CREDIT UNION | $9,345,000 | $5,500,000 | -41.1% | 0.2% |
| AMCAP MORTGAGE, LTD. | $11,845,000 | $4,870,000 | -58.9% | 0.2% |
| FIRST COLONY MORTGAGE CORPORATION | $2,805,000 | $4,855,000 | 73.1% | 0.2% |
| Deere Employees Credit Union | $10,540,000 | $4,805,000 | -54.4% | 0.2% |
| AMERISAVE MORTGAGE CORPORATION | $12,480,000 | $4,755,000 | -61.9% | 0.2% |
| Citizens Bank | $8,490,000 | $4,565,000 | -46.2% | 0.2% |
| CARDINAL FINANCIAL | $16,770,000 | $4,455,000 | -73.4% | 0.2% |
| First Savings Bank | $4,945,000 | $4,320,000 | -12.6% | 0.1% |
| SeaTrust Mortgage Company | $4,295,000 | n/a | 0.1% | |
| V.I.P. MORTGAGE, INC. | $4,220,000 | n/a | 0.1% | |
| Midwest Bank | $1,310,000 | $4,090,000 | 212.2% | 0.1% |
| The Federal Savings Bank | $3,945,000 | $3,995,000 | 1.3% | 0.1% |
| MID AMERICA MORTGAGE, INC. | $4,670,000 | $3,990,000 | -14.6% | 0.1% |
| United Valley Bank | $3,900,000 | n/a | 0.1% | |
| PREMIER MORTGAGE RESOURCES, L.L.C. | $805,000 | $3,795,000 | 371.4% | 0.1% |
| GUILD MORTGAGE COMPANY | $17,215,000 | $3,695,000 | -78.5% | 0.1% |
| Servion, Inc. | $8,810,000 | $3,665,000 | -58.4% | 0.1% |
| Merchants Bank | $14,875,000 | $3,360,000 | -77.4% | 0.1% |
| 21ST MORTGAGE CORPORATION | $3,650,000 | $3,245,000 | -11.1% | 0.1% |
| TOWNE MORTGAGE COMPANY | $3,110,000 | n/a | 0.1% | |
| NBKC BANK | $945,000 | $2,985,000 | 215.9% | 0.1% |
| MUTUAL OF OMAHA MORTGAGE, INC. | $2,440,000 | $2,980,000 | 22.1% | 0.1% |
| Hometown Credit Union | $4,035,000 | $2,790,000 | -30.9% | 0.1% |
| Discover Bank | $2,615,000 | $2,655,000 | 1.5% | 0.1% |
| CROSSCOUNTRY MORTGAGE, LLC | $3,315,000 | $2,585,000 | -22.0% | 0.1% |
| American Mortgage & Equity Consultants, Inc. | $1,370,000 | $2,500,000 | 82.5% | 0.1% |
| First Federal Bank | $395,000 | $2,370,000 | 500.0% | 0.1% |
| Unity Bank | $2,275,000 | n/a | 0.1% | |
| BANKWEST, INC. | $3,040,000 | $2,200,000 | -27.6% | 0.1% |
| PNC Bank | $2,075,000 | $2,185,000 | 5.3% | 0.1% |
| PENTAGON FEDERAL CREDIT UNION | $2,035,000 | $2,175,000 | 6.9% | 0.1% |
| THRIVENT Federal Credit Union | $855,000 | $2,175,000 | 154.4% | 0.1% |
| MANN FINANCIAL INC. | $670,000 | $2,130,000 | 217.9% | 0.1% |
| PREMIA MORTGAGE, LLC | $5,420,000 | $2,090,000 | -61.4% | 0.1% |
| AFFINITY PLUS | $1,370,000 | $2,075,000 | 51.5% | 0.1% |
| Figure Lending LLC | $400,000 | $1,950,000 | 387.5% | 0.1% |
| ZILLOW HOME LOANS, LLC | $1,745,000 | $1,850,000 | 6.0% | 0.1% |
| CRESCENT MORTGAGE COMPANY | $3,000,000 | $1,815,000 | -39.5% | 0.1% |
| SUN WEST MORTGAGE COMPANY, INC. | $455,000 | $1,775,000 | 290.1% | 0.1% |
| Grandbridge Real Estate Capital LLC | $61,310,000 | $1,765,000 | -97.1% | 0.1% |
| CHURCHILL MORTGAGE CORPORATION | $410,000 | $1,635,000 | 298.8% | 0.1% |
| MORTGAGE SOLUTIONS OF COLORADO, LLC | $275,000 | $1,595,000 | 480.0% | 0.1% |
| First Bank & Trust | $1,575,000 | n/a | 0.1% | |
| LAKEVIEW LOAN SERVICING, LLC | $2,930,000 | $1,525,000 | -48.0% | 0.1% |
| CMG MORTGAGE, INC. | $1,555,000 | $1,490,000 | -4.2% | 0.1% |
| Stockman Bank of Montana | $2,105,000 | $1,445,000 | -31.4% | 0.0% |
| Bank of America | $2,095,000 | $1,440,000 | -31.3% | 0.0% |
| OPEN MORTGAGE, LLC | $570,000 | $1,395,000 | 144.7% | 0.0% |
| Florida Capital Bank | $8,360,000 | $1,370,000 | -83.6% | 0.0% |
| PLAZA HOME MORTGAGE, INC. | $705,000 | $1,295,000 | 83.7% | 0.0% |
| VILLAGE CAPITAL MORTGAGE | $770,000 | $1,250,000 | 62.3% | 0.0% |
| ANGEL OAK MORTGAGE SOLUTIONS LLC | $1,205,000 | n/a | 0.0% | |
| ON Q FINANCIAL, INC. | $1,935,000 | $1,205,000 | -37.7% | 0.0% |
| Century Mortgage Company DBA Century Lending Company | $1,065,000 | $1,090,000 | 2.3% | 0.0% |
| PRIMELENDING, A PLAINSCAPITAL COMPANY | $975,000 | $1,080,000 | 10.8% | 0.0% |
| EVERETT FINANCIAL, INC. | $550,000 | $1,075,000 | 95.5% | 0.0% |
| OCMBC, INC. | $1,075,000 | n/a | 0.0% | |
| GREAT RIVER FEDERAL CREDIT UNION | $325,000 | $1,020,000 | 213.8% | 0.0% |
| Beverly Bank & Trust | $1,005,000 | n/a | 0.0% | |
| GUARANTEED RATE AFFINITY, LLC | $510,000 | $995,000 | 95.1% | 0.0% |
| SIRVA MORTGAGE, INC. | $955,000 | n/a | 0.0% | |
| HOMESIDE FINANCIAL, LLC | $1,030,000 | $895,000 | -13.1% | 0.0% |
| MOVEMENT MORTGAGE, LLC | $895,000 | n/a | 0.0% | |
| Carrington Mortgage Services, LLC | $875,000 | n/a | 0.0% | |
| TRIAD FINANCIAL SERVICES, INC. | $695,000 | $865,000 | 24.5% | 0.0% |
| Northwestern Bank, NA | $860,000 | n/a | 0.0% | |
| West Gate Bank | $850,000 | n/a | 0.0% | |
| Truity Federal Credit Union | $810,000 | n/a | 0.0% | |
| DIGITAL Federal Credit Union | $375,000 | $775,000 | 106.7% | 0.0% |
| Gateway First Bank | $1,775,000 | $775,000 | -56.3% | 0.0% |
| WINGS FINANCIAL | $1,100,000 | $775,000 | -29.5% | 0.0% |
| CENTRAL MINNESOTA Credit Union | $770,000 | $735,000 | -4.5% | 0.0% |
| Coastal Community Bank | $720,000 | n/a | 0.0% | |
| Flanagan State Bank | $700,000 | n/a | 0.0% | |
| Ally Bank | $1,995,000 | $685,000 | -65.7% | 0.0% |
| Armed Forces Bank | $1,535,000 | $680,000 | -55.7% | 0.0% |
| BETTER MORTGAGE CORPORATION | $4,755,000 | $660,000 | -86.1% | 0.0% |
| Truist | $2,355,000 | $640,000 | -72.8% | 0.0% |
| Dollar Bank, Federal Savings Bank | $635,000 | n/a | 0.0% | |
| SKYONE Federal Credit Union | $635,000 | n/a | 0.0% | |
| Equity Prime Mortgage LLC | $235,000 | $625,000 | 166.0% | 0.0% |
| AMERICAN FINANCIAL NETWORK, INC. | $605,000 | n/a | 0.0% | |
| FIRST COMMUNITY MORTGAGE, INC. | $195,000 | $585,000 | 200.0% | 0.0% |
| ACADEMY MORTGAGE CORPORATION | $570,000 | n/a | 0.0% | |
| CALIBER HOME LOANS, INC. | $46,325,000 | $570,000 | -98.8% | 0.0% |
| Park State Bank | $570,000 | n/a | 0.0% | |
| AMERICAN FINANCING CORPORATION | $2,785,000 | $560,000 | -79.9% | 0.0% |
| AMERICAN FINANCIAL RESOURCES, INC. | $3,500,000 | $535,000 | -84.7% | 0.0% |
| Paramount Residential Mortgage Group, Inc. | $1,765,000 | $530,000 | -70.0% | 0.0% |
| FINANCE OF AMERICA REVERSE LLC | $200,000 | $525,000 | 162.5% | 0.0% |
| Morgan Stanley Private Bank | $1,365,000 | $520,000 | -61.9% | 0.0% |
| First Resource Bank | $3,060,000 | $505,000 | -83.5% | 0.0% |
| Valley Premier Bank | $480,000 | n/a | 0.0% | |
| Baxter Credit Union | $225,000 | $475,000 | 111.1% | 0.0% |
| AMERICAN PACIFIC MORTGAGE CORPORATION | $470,000 | n/a | 0.0% | |
| American Bank & Trust | $1,190,000 | $465,000 | -60.9% | 0.0% |
| SOUTHWEST STAGE FUNDING, LLC | $245,000 | $465,000 | 89.8% | 0.0% |
| Bank of the West | $2,670,000 | $450,000 | -83.1% | 0.0% |
| TOTAL MORTGAGE SERVICES, LLC | $440,000 | n/a | 0.0% | |
| AmeriHome Mortgage Company, LLC | $700,000 | $430,000 | -38.6% | 0.0% |
| GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION | $430,000 | n/a | 0.0% | |
| HOMEBRIDGE FINANCIAL SERVICES, INC. | $275,000 | $430,000 | 56.4% | 0.0% |
| American Airlines Federal Credit Union | $420,000 | n/a | 0.0% | |
| VERVE, A CREDIT UNION | $2,680,000 | $415,000 | -84.5% | 0.0% |
| Hinsdale Bank & Trust Company | $405,000 | n/a | 0.0% | |
| PLANET HOME LENDING, LLC | $1,690,000 | $395,000 | -76.6% | 0.0% |
| Willamette Valley Bank | $500,000 | $395,000 | -21.0% | 0.0% |
| DAS Acquisition Company, LLC | $385,000 | n/a | 0.0% | |
| Prosperity Home Mortgage, LLC | $1,400,000 | $380,000 | -72.9% | 0.0% |
| Home State Bank | $365,000 | n/a | 0.0% | |
| M&T Bank | $200,000 | $340,000 | 70.0% | 0.0% |
| First Interstate Bank | $19,900,000 | $335,000 | -98.3% | 0.0% |
| MEGASTAR FINANCIAL CORP. | $320,000 | n/a | 0.0% | |
| CITYWIDE HOME LOANS, LLC | $315,000 | n/a | 0.0% | |
| Peoples Bank | $135,000 | $315,000 | 133.3% | 0.0% |
| DEEPHAVEN MORTGAGE LLC | $310,000 | n/a | 0.0% | |
| UNIVERSAL LENDING CORPORATION | $65,000 | $305,000 | 369.2% | 0.0% |
| ARC HOME LLC | $490,000 | $295,000 | -39.8% | 0.0% |
| Quontic Bank | $295,000 | n/a | 0.0% | |
| RESIDENTIAL BANCORP | $810,000 | $295,000 | -63.6% | 0.0% |
| Magnolia Bank | $795,000 | $285,000 | -64.2% | 0.0% |
| Opportunity Bank of Montana | $285,000 | n/a | 0.0% | |
| HIWAY | $75,000 | $280,000 | 273.3% | 0.0% |
| Minnwest Bank | $235,000 | $280,000 | 19.1% | 0.0% |
| COMPEER FINANCIAL, FLCA | $255,000 | $275,000 | 7.8% | 0.0% |
| GREENSTATE CREDIT UNION | $275,000 | n/a | 0.0% | |
| LENDSURE MORTGAGE CORP. | $275,000 | n/a | 0.0% | |
| Northpointe Bank | $630,000 | $275,000 | -56.3% | 0.0% |
| The First National Bank in Sioux Falls | $260,000 | n/a | 0.0% | |
| CORNERSTONE HOME LENDING, INC. | $255,000 | n/a | 0.0% | |
| CITIZENS EQUITY FIRST | $105,000 | $245,000 | 133.3% | 0.0% |
| CORTRUST MORTGAGE, INC. | $505,000 | $245,000 | -51.5% | 0.0% |
| Citibank | $235,000 | n/a | 0.0% | |
| HOMESTAR FINANCIAL CORPORATION | $4,270,000 | $235,000 | -94.5% | 0.0% |
| Stifel Bank and Trust | $3,175,000 | $235,000 | -92.6% | 0.0% |
| NEXERA HOLDING LLC | $225,000 | n/a | 0.0% | |
| RBC Bank, (Georgia) | $780,000 | $225,000 | -71.2% | 0.0% |
| Secured Investment Corp. | $225,000 | n/a | 0.0% | |
| Wyndham Capital Mortgage, Inc. | $710,000 | $225,000 | -68.3% | 0.0% |
| BLACK HILLS FEDERAL CREDIT UNION | $95,000 | $215,000 | 126.3% | 0.0% |
| First National Bank of Omaha | $470,000 | $215,000 | -54.3% | 0.0% |
| Liberty Bank Minnesota | $215,000 | n/a | 0.0% | |
| Signature Federal Credit Union | $215,000 | n/a | 0.0% | |
| ALLIANT CREDIT UNION | $205,000 | n/a | 0.0% | |
| Fortress Bank | $915,000 | $205,000 | -77.6% | 0.0% |
| LIBERTY HOME MORTGAGE CORPORATION | $205,000 | n/a | 0.0% | |
| CBI Bank & Trust | $195,000 | n/a | 0.0% | |
| Commerce Home Mortgage, Inc. | $765,000 | $195,000 | -74.5% | 0.0% |
| Firstar Bank | $195,000 | n/a | 0.0% | |
| Service Federal Credit Union | $470,000 | $195,000 | -58.5% | 0.0% |
| TOP FLITE FINANCIAL, INC. | $155,000 | $180,000 | 16.1% | 0.0% |
| Arvest Bank | $175,000 | n/a | 0.0% | |
| Chartwell Financial, LLC | $195,000 | $155,000 | -20.5% | 0.0% |
| Chickasaw Community Bank | $195,000 | $155,000 | -20.5% | 0.0% |
| LONGBRIDGE FINANCIAL, LLC | $125,000 | $145,000 | 16.0% | 0.0% |
| First PREMIER Bank | $490,000 | $135,000 | -72.4% | 0.0% |
| UNION HOME MORTGAGE CORP. | $135,000 | n/a | 0.0% | |
| Summit Mortgage Corporation | $470,000 | $105,000 | -77.7% | 0.0% |
| Connexus Credit Union | $95,000 | n/a | 0.0% | |
| Stride Bank | $95,000 | n/a | 0.0% | |
| AMERICAN INTERNET MORTGAGE, INC. | $605,000 | $85,000 | -86.0% | 0.0% |
| Lend Smart Mortgage, LLC | $1,880,000 | $75,000 | -96.0% | 0.0% |
| Black Hills Community Bank | $65,000 | n/a | 0.0% | |
| NETWORK CAPITAL FUNDING CORPORATION | $365,000 | $55,000 | -84.9% | 0.0% |
| UNITED | $55,000 | n/a | 0.0% | |
| STAR USA FEDERAL CREDIT UNION | $25,000 | $45,000 | 80.0% | 0.0% |
| Centier Bank | $55,000 | $35,000 | -36.4% | 0.0% |
North Dakota's top lender by overall market share is Gate City Bank, with 14.1% market share. In second place, with 5.3%, is First International Bank & Trust, having originated $154,645,000 in loans. In third place, with 4.0%, is UNITED WHOLESALE MORTGAGE, LLC, having originated $115,860,000 in loans. In fourth place, with 3.4%, is Bell Bank, having originated $99,385,000 in loans. In fifth place, with 3.2%, is FIRST COMMUNITY CREDIT UNION, having originated $91,435,000 in loans.
North Dakota Market Loan Reason
| Loan Purpose | Originations | Total Value | Average Loan |
|---|---|---|---|
| Home Purchase | 7,763 | $2,157,105,000 | $277,870 |
| Home Improvement | 1,190 | $89,280,000 | $75,025 |
| Other | 1,088 | $140,330,000 | $128,980 |
| Refi | 973 | $345,455,000 | $355,041 |
| Cash Out Refi | 907 | $161,335,000 | $177,878 |
| NA | 1 | $95,000 | $95,000 |
North Dakota's most frequently cited loan purpose was Home Purchase, with 7,763 originations. The 2nd most popular reason was Home Improvement, with 1,190 originations.
Interest Rate Frequencies
| Loan Rate | Originations | Total Value | Average Loan |
|---|---|---|---|
| 6-7% | 4,547 | $1,121,675,000 | $246,685 |
| 7-8% | 2,364 | $538,640,000 | $227,851 |
| 5-6% | 2,159 | $649,465,000 | $300,818 |
| Over 8% | 1,695 | $185,935,000 | $109,696 |
| 4-5% | 174 | $71,920,000 | $413,333 |
| 3-4% | 150 | $40,430,000 | $269,533 |
| 2.5-3% | 50 | $21,990,000 | $439,800 |
| <2.5% | 16 | $3,230,000 | $201,875 |
During 2023, North Dakota's most frequently originated rate bucket was 6-7%, with 4,547 originations.
Loan Sizing (North Dakota MSA)
| Loan Size | Originations | Total Value | Average Loan |
|---|---|---|---|
| $200k-400k | 4,553 | $1,267,395,000 | $278,365 |
| $100,000 or less | 3,194 | $170,150,000 | $53,272 |
| $100k-200k | 3,039 | $454,845,000 | $149,669 |
| $400k-600k | 795 | $371,765,000 | $467,629 |
| $600k-1000k | 239 | $169,625,000 | $709,728 |
| $Over $1MM | 102 | $459,820,000 | $4,508,039 |
North Dakota's loan sizing saw the bucket of loans from $200k-400k with 4,553 originations, totaling $1,267,395,000 in origination value.
LTV Distribution
| Loan to Value | Originations | Total Value | Average Loan |
|---|---|---|---|
| 80-100% | 5,152 | $1,364,150,000 | $264,781 |
| 60-80% | 2,126 | $709,920,000 | $333,923 |
| Under 20% | 1,632 | $80,130,000 | $49,099 |
| 20-40% | 1,214 | $151,040,000 | $124,415 |
| 40-60% | 796 | $261,170,000 | $328,103 |
| Over 100% | 202 | $95,430,000 | $472,426 |
North Dakota's loan sizing saw loans grouped in the 80-100% Loan-to-value bucket with 5,152 originations, totaling $1,364,150,000 in origination value.