State report · HMDA 2025

North Dakota mortgages and home buyers, 2025

Incomes, down payments, rates, loan costs, denials and lenders across North Dakota's 53 counties, from official HMDA records.

HMDA 2025 data released June 23, 2026

In 2025, lenders reported 6,802 home-purchase mortgages for owner-occupied, single-family homes in North Dakota. The median buyer borrowed $275,000 on a home valued at $315,000 and reported a household income of $103,000.

Buyers financed a median 94.6% of the home's value (roughly 5.4% down), paid a median 6.375% on 30-year fixed conventional loans and faced median conventional loan costs of $4,880.

Lenders denied 4.5% of completed home-purchase applications.

Purchase loans

6,802

223 lenders active

Buyer income

$103,000

U.S. $116,000

Down payment

5.4%

U.S. 10%

30-yr fixed rate

6.375%

U.S. 6.625%

Loan costs

$4,880

Conventional · U.S. $5,570

FHA limit 2026

$541,287

1-unit home, all counties

Key facts

Home buyers' median income ($103,000) is 11% lower than the U.S. median ($116,000).
The median 30-year fixed conventional rate here was 25 basis points below the U.S. median (6.625%).
Median conventional loan costs ($4,880) were 12% lower than the U.S. median ($5,570).
The most common age bracket among borrowers was 25–34 (39.1% of purchase loans).
52.6% of purchase mortgages had a single borrower with no co-applicant.
The most-cited reason for denial was debt-to-income ratio (30.8% of denials with a stated reason).

The 2026 conforming limit is $832,750 for a one-unit home in every North Dakota county. See every North Dakota county's 2026 FHA and conforming loan limits.

North Dakota counties compared

Click a column to sort. Medians shown with at least 30 loans.

County	Purchase loans	Median loan	Buyer income	Down payment	30-yr rate	Loan costs	Denial rate	FHA limit
Adams County	8	—	—	—	—	—	—	$541,287
Barnes County	75	$185,000	$81,000	5.0%	6.375%	$4,430	0.0%	$541,287
Benson County	8	—	—	—	—	—	—	$541,287
Billings County	2	—	—	—	—	—	—	$541,287
Bottineau County	38	$195,000	$86,000	—	—	—	2.5%	$541,287
Bowman County	19	—	—	—	—	—	—	$541,287
Burke County	7	—	—	—	—	—	—	$541,287
Burleigh County	1,019	$305,000	$108,000	10.0%	6.375%	$5,190	3.5%	$541,287
Cass County	1,952	$295,000	$107,000	10.0%	6.375%	$4,910	3.6%	$541,287
Cavalier County	27	—	—	—	—	—	—	$541,287
Dickey County	29	—	—	—	—	—	6.5%	$541,287
Divide County	10	—	—	—	—	—	—	$541,287
Dunn County	22	—	—	—	—	—	—	$541,287
Eddy County	15	—	—	—	—	—	—	$541,287
Emmons County	13	—	—	—	—	—	—	$541,287
Foster County	18	—	—	—	—	—	—	$541,287
Golden Valley County	11	—	—	—	—	—	—	$541,287
Grand Forks County	592	$265,000	$108,000	9.9%	6.375%	$5,020	3.9%	$541,287
Grant County	12	—	—	—	—	—	—	$541,287
Griggs County	14	—	—	—	—	—	—	$541,287
Hettinger County	13	—	—	—	—	—	—	$541,287
Kidder County	17	—	—	—	—	—	—	$541,287
LaMoure County	25	—	—	—	—	—	—	$541,287
Logan County	10	—	—	—	—	—	—	$541,287
McHenry County	38	$195,000	$82,000	7.0%	—	—	4.8%	$541,287
McIntosh County	13	—	—	—	—	—	—	$541,287
McKenzie County	107	$385,000	$136,000	1.9%	6.750%	$7,150	12.9%	$541,287
McLean County	84	$185,000	$102,000	9.3%	6.490%	$4,380	3.4%	$541,287
Mercer County	72	$215,000	$98,000	5.0%	6.525%	$4,320	2.7%	$541,287
Morton County	319	$285,000	$102,000	5.0%	6.250%	$5,200	4.4%	$541,287
Mountrail County	55	$215,000	$103,000	3.8%	—	—	3.5%	$541,287
Nelson County	13	—	—	—	—	—	—	$541,287
Oliver County	16	—	—	—	—	—	—	$541,287
Pembina County	46	$155,000	$82,000	5.0%	—	—	6.1%	$541,287
Pierce County	19	—	—	—	—	—	—	$541,287
Ramsey County	71	$205,000	$89,000	5.0%	6.250%	$4,960	5.3%	$541,287
Ransom County	32	$175,000	$82,000	5.0%	—	—	8.6%	$541,287
Renville County	17	—	—	—	—	—	—	$541,287
Richland County	129	$195,000	$84,000	5.0%	6.375%	$4,810	3.7%	$541,287
Rolette County	9	—	—	—	—	—	—	$541,287
Sargent County	15	—	—	—	—	—	—	$541,287
Sheridan County	5	—	—	—	—	—	—	$541,287
Sioux County	0	—	—	—	—	—	—	$541,287
Slope County	1	—	—	—	—	—	—	$541,287
Stark County	380	$285,000	$111,000	5.0%	6.500%	$4,910	6.1%	$541,287
Steele County	9	—	—	—	—	—	—	$541,287
Stutsman County	131	$195,000	$84,000	5.0%	6.375%	$4,270	6.9%	$541,287
Towner County	11	—	—	—	—	—	—	$541,287
Traill County	73	$215,000	$86,000	5.0%	6.490%	$4,630	5.1%	$541,287
Walsh County	53	$155,000	$83,000	5.0%	—	—	11.7%	$541,287
Ward County	737	$255,000	$99,000	3.5%	6.375%	$4,580	2.6%	$541,287
Wells County	26	—	—	—	—	—	—	$541,287
Williams County	365	$325,000	$116,000	5.0%	6.575%	$5,330	6.3%	$541,287

Who bought homes in North Dakota

Home-purchase mortgages for owner-occupied, single-family (1–4 unit) site-built homes, first liens, originated in 2025.

Purchase loans

6,802

of 7,226 applications

Buyer income

$103,000

Middle half $72,000–$146,000

Home value

$315,000

Middle half $235,000–$425,000

Loan amount

$275,000

Middle half $205,000–$365,000

Down payment

5.4%

33.1% put 20%+ down

Single borrower

52.6%

No co-applicant

Values are medians; "middle half" is the 25th to 75th percentile.

Loan type

Conventional 66.7% 4,536

FHA 18.5% 1,261

VA 13.6% 926

USDA 1.2% 79

What the homes were for

Primary residence 94.5% 7,144

Second home 1.6% 118

Investment property 3.9% 297

All first-lien, closed-end purchase mortgages, including second homes and investors.

Borrower age

Under 25 13.0%

25–34 39.1%

35–44 24.4%

45–54 11.6%

55–64 6.9%

65–74 3.8%

75 and over 1.2%

Debt-to-income ratio

Under 20% 5.0%

20–29% 17.2%

30–35% 17.9%

36–42% 25.0%

43–49% 25.7%

50–60% 8.5%

Over 60% 0.7%

Monthly debts (including the new payment) as a share of income, as used in underwriting.

What borrowing cost in North Dakota

Medians for 2025 home-purchase loans. Total loan costs are section D of the Loan Estimate/Closing Disclosure (lender and third-party loan charges, excluding taxes, prepaids and escrow). FHA and VA costs include the upfront mortgage insurance premium or VA funding fee, so compare like with like.

Measure	North Dakota	U.S.
30-year fixed rate · conventional	6.375%	6.625%
30-year fixed rate · FHA	6.200%	6.250%
30-year fixed rate · VA	6.125%	6.125%
15-year fixed rate · conventional	5.750%	5.875%
Rate spread vs. APOR · conventional	+0.01 pts	+0.13 pts
Total loan costs · conventional	$4,880	$5,570
Total loan costs · FHA	$9,380	$11,310
Total loan costs · VA	$7,020	$6,490
Origination charges (all loan types)	$2,540	$1,860
Borrowers paying discount points	38.1%	51.3%
Points paid, when paid (% of loan)	0.77%	0.87%
Borrowers receiving lender credits	33.1%	33.1%
Adjustable-rate mortgages	3.7%	7.4%
Jumbo loans (above conforming limit)	1.0%	3.8%

Medians are shown only when at least 30 loans report the field. Rates are those reported at closing; market rates changed during 2025, which the rate spread (APR minus the average prime offer rate on the lock date) adjusts for.

Approvals and denials

North Dakota: 329 of 7,226 completed home-purchase applications were denied (4.5%).

Denial rate

Application	North Dakota	U.S.
Home purchase	4.5%	8.5%
Conventional	3.5%	7.1%
FHA	7.5%	12.5%
VA	4.9%	8.0%
USDA	12.0%	12.5%
Refinance	15.6%	17.9%
Cash-out refinance	33.6%	33.6%

Main reason for purchase denials

Debt-to-income ratio 30.8%

Credit history 19.7%

Collateral (appraisal/property) 12.7%

Credit application incomplete 11.7%

Insufficient cash (down payment/closing costs) 8.9%

Other 7.3%

Employment history 5.1%

Unverifiable information 3.8%

First reason the lender reported.

Denial rate = denied ÷ (originated + approved but not accepted + denied). Withdrawn and incomplete applications are excluded. Differences between places reflect who applies, not only lender behavior.

Refinancing in North Dakota

Refinances

1,116

Median loan $275,000

Refi rate

6.25%

30-yr fixed, conv.

Refi loan costs

$4,480

Conventional

Cash-out refis

747

Median loan $215,000

Cash-out rate

6.625%

30-yr fixed, conv.

Cash-out income

$98,000

Median borrower

Top mortgage lenders in North Dakota

#	Lender	Loans	Share	Denial rate	30-yr rate*	Spread*	Costs*
1	Gate City Bank	1,064	12.3%	1.8%	6.125%	−0.23	$5,560
2	United Wholesale Mortgage (UWM)	689	8.0%	4.1%	6.500%	+0.18	$5,610
3	First International Bank & Trust	575	6.6%	1.3%	6.500%	+0.03	$4,250
4	Rocket Mortgage, LLC	388	4.5%	15.1%	6.750%	+0.32	$6,150
5	Fairway Independent Mortgage Corporation	346	4.0%	2.1%	6.490%	+0.36	$5,820
6	Town AND Country Credit Union	316	3.6%	0.7%	6.250%	−0.09	$5,410
7	Bell Bank	295	3.4%	2.3%	6.250%	−0.03	$3,990
8	First Community Credit Union	275	3.2%	3.3%	6.250%	−0.05	$4,710
9	Veterans United Home Loans	265	3.1%	6.5%	—	—	—
10	Bravera Bank	218	2.5%	2.5%	—	—	—
11	Capital	203	2.3%	1.7%	6.375%	−0.05	$5,740
12	Dakota Community Bank & Trust, N.A.	180	2.1%	2.4%	6.000%	−0.22	$5,320
13	Valley Mortgage, Inc.	167	1.9%	2.5%	6.450%	−0.04	$3,530
14	Ark-La-Tex Financial Services, LLC.	164	1.9%	2.5%	6.450%	+0.08	$2,340
15	Granite Bank	129	1.5%	5.7%	6.490%	+0.35	$4,630
16	First Western Bank & Trust	117	1.4%	5.9%	6.250%	−0.06	$4,850
17	U.S. Bank, N.A.	117	1.4%	10.9%	6.375%	−0.03	$3,190
18	Choice Financial Group	109	1.3%	0.9%	6.250%	+0.03	$3,720
19	Western State Bank	104	1.2%	1.1%	6.000%	−0.19	$3,460
20	CrossCountry Mortgage, Inc.	90	1.0%	1.2%	6.490%	+0.47	$5,030
21	Rate	89	1.0%	9.3%	6.500%	+0.23	$6,530
22	loanDepot.com, LLC	88	1.0%	4.9%	6.625%	+0.38	$4,450
23	Guild Mortgage Company	84	1.0%	1.2%	6.375%	+0.04	$4,290
24	Freedom Mortgage Corporation	84	1.0%	29.6%	—	—	—
25	Aspire Community Federal Credit union	83	1.0%	0.0%	—	—	—

Largest lenders in North Dakota by 2025 originations. Loans = home-purchase, refinance and cash-out originations (2025); share = share of those loans here; denial rate = home-purchase applications. *Medians for conventional home-purchase loans, shown with at least 20 loans; spread = APR minus the average prime offer rate at rate lock (percentage points); costs = total loan costs (section D).

Metro areas in North Dakota

Fargo, ND-MN · 2,648 purchases
Bismarck, ND · 1,354 purchases
Grand Forks, ND-MN · 834 purchases
Minot, ND · 792 purchases

Source: FFIEC/CFPB HMDA 2025 public LAR; FHFA and HUD 2026 loan limits. Methodology