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North Dakota Mortgage Rates

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Use SmartAsset's mortgage rate comparison tool to compare mortgage rates from the top lenders and find the one that best suits your needs.

Overview of North Dakota Mortgages

With a diverse terrain of large open spaces and a rich heritage, North Dakota is a fine place for many to call home. North Dakota mortgage rates are lower, sometimes significantly, than national averages. The state's county-level conforming loan and FHA limits are entirely standard.

Today's Mortgage Rates in North Dakota

Product Today Last Week Change
30 year fixed 7.13% 7.13% 0.00
15 year fixed 6.50% 6.88% -0.38
5/1 ARM 6.13% 6.13% 0.00
30 yr fixed mtg refi 7.13% 7.13% 0.00
15 yr fixed mtg refi 6.50% 6.88% -0.38
7/1 ARM refi 6.13% 5.50% +0.63
15 yr jumbo fixed mtg refi 3.06% 3.09% -0.04

National Mortgage Rates

Source: Freddie Mac Primary Mortgage Market Survey, SmartAsset Research
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Historical Mortgage Rates in North Dakota

Photo Credit: © Penner

North Dakota Mortgage Rates Quick Facts

  • Median Home Value: $205,400 (U.S. Census Bureau)
  • Loan Funding Rate: 64.89% (CFPB)
  • Homeownership Rate: 64.2% (St. Louis Fed)
  • Median Monthly Homeownership Costs: $1,426 (U.S. Census Bureau)

The Great Plains state of North Dakota is home to sprawling fields and the enchanting badlands of Theodore Roosevelt National Park. Fargo and capital city Bismarck are the two most populous cities in the state. It is also the fifth least populous state in the nation.

North Dakota mortgage rates are generally below the national average.

A financial advisor in North Dakota can help you plan for the homebuying process. Financial advisors can also help with investing and financial plans, including tax, retirement and estate planning, to make sure you are preparing for the future.

North Dakota Historic Mortgage Rates*

YearNorth Dakota RateU.S. Rate

*The FHFA stopped reporting new data in 2018.

North Dakota Mortgages Overview

Homes in the Peace Garden State have average prices compared the rest of the nation. Before you begin your home search, it is a good idea to determine a budget. You may also want to consider getting preapproved for a home loan from a lender which can help the home buying process go more smoothly.

The conforming limits for North Dakota counties are all at the standard of $647,200, which reflects the average prices across the state. All counties have FHA limits at the typical $420,680 mark.

Conforming and FHA Loan Limits by County

CountyConforming LimitFHA Limit
Benson$647,200 $420,680
Billings$647,200 $420,680
Bottineau$647,200 $420,680
Bowman$647,200 $420,680
Burke$647,200 $420,680
Burleigh$647,200 $420,680
Cass$647,200 $420,680
Cavalier$647,200 $420,680
Dickey$647,200 $420,680
Divide$647,200 $420,680
Dunn$647,200 $420,680
Eddy$647,200 $420,680
Emmons$647,200 $420,680
Foster$647,200 $420,680
Golden Valley$647,200 $420,680
Grand Forks$647,200 $420,680
Grant$647,200 $420,680
Griggs$647,200 $420,680
Hettinger$647,200 $420,680
Kidder$647,200 $420,680
La Moure$647,200 $420,680
Logan$647,200 $420,680
McHenry$647,200 $420,680
McIntosh$647,200 $420,680
McKenzie$647,200 $420,680
McLean$647,200 $420,680
Mercer$647,200 $420,680
Morton$647,200 $420,680
Mountrail$647,200 $420,680
Nelson$647,200 $420,680
Oliver$647,200 $420,680
Pembina$647,200 $420,680
Pierce$647,200 $420,680
Ramsey$647,200 $420,680
Ransom$647,200 $420,680
Renville$647,200 $420,680
Richland$647,200 $420,680
Rolette$647,200 $420,680
Sargent$647,200 $420,680
Sheridan$647,200 $420,680
Sioux$647,200 $420,680
Slope$647,200 $420,680
Stark$647,200 $420,680
Steele$647,200 $420,680
Stutsman$647,200 $420,680
Towner$647,200 $420,680
Traill$647,200 $420,680
Walsh$647,200 $420,680
Ward$647,200 $420,680
Wells$647,200 $420,680
Williams$647,200 $420,680

Keep in mind that some states are “recourse” states, where a lender is allowed to go after your assets or savings for a deficiency in the event of a foreclosure. That deficiency refers to the difference between your home’s worth and the amount still owed on a mortgage. North Dakota is a non-recourse state, meaning you generally would not be liable for the deficiency in a foreclosure.

North Dakota state law requires home sellers to provide buyers with a disclosure form listing details on the property. This list should include information on wiring and electrical, water damage and any environmental hazards. Most North Dakota sellers use the North Dakota Residential Real Estate Disclosure Statement. The purpose of these disclosures is to protect buyers, but a home inspection is always a smart idea to protect the integrity of the sale. A quality home inspection will help you avoid uncovering big problems down the line.

30-Year Fixed Mortgage Rates in North Dakota

If you are looking to obtain a mortgage in North Dakota, you will probably land on a 30-year fixed-rate mortgage. This home loan is considered extremely dependable because your interest rate remains the same for the loan’s lifespan (unless you refinance) which makes it easier to budget for your monthly payments. Unless you make prepayments or you decide to refinance, you will have three decades to pay off this loan.

The average North Dakota rate for a fixed 30-year mortgage is 3.41% (Zillow, Jan. 2022).

North Dakota Jumbo Loan Rates

North Dakota county conforming loan limits are all at $647,200. This means that if you are buying a house anywhere in the state and you take out a loan that is greater than $647,200, you will have what is considered a jumbo loan. Loans that are equal to or lesser than the conforming limit in a particular county are considered “conforming” loans and are eligible for normal interest rates and can be resold on the secondary mortgage market. If you are thinking about taking out a jumbo loan for your mortgage, you should be aware that they tend to come with higher interest rates. That might be reason to select a home that fits more comfortably within your budget.

The average 30-year fixed jumbo loan rate in North Dakota is 3.26% (Zillow, Jan. 2022).

North Dakota ARM Loan Rates

An adjustable-rate mortgage (ARM) is a home loan that generally offers a lower interest rate than a fixed-rate mortgage for a specific period of time. That rate is available for an introductory period that lasts somewhere between one and 10 years. Once that period ends, the interest rate is free to change, and it usually goes up. One key component of an ARM is that the interest rate is capped at a specific level which is detailed in the loan’s terms. It is important to check that maximum possible rate to ensure that it is one that fits within your budget.

The average rate for a 5/1 ARM in North Dakota is 2.56% (Zillow, Jan. 2022).

North Dakota Mortgage Resources

There are programs available for North Dakotans who need home-buying assistance. The North Dakota Housing Finance Agency provides affordable mortgage loans, down payment and closing cost assistance and home-buying education for qualifying buyers. The NDHFA can cut down on out-of-pocket costs, enabling homebuyers to achieve ownership sooner. Rehab costs can also be included in a NDHFA mortgage loan.

Available Resources

ResourceProblem or IssueWho Qualifies
North Dakota Housing Finance AgencyHomebuyer education, down payment and closing cost assistance and affordable mortgage loans.Qualifying North Dakotan homebuyers. Income limits apply.
USDA Rural Development - Single family loansOffers payment assistance to increase an applicant’s repayment ability.Applicants must be without decent, safe and sanitary housing; Be unable to obtain a loan from other resources on terms and conditions that can reasonably be expected to meet; Agree to occupy the property as your primary residence; Have the legal capacity to incur a loan obligation; Meet citizenship or eligible noncitizen requirements; Not be suspended or debarred from participation in federal programs.

The United States Department of Agriculture Rural Development offers programs in rural areas of North Dakota which help qualifying residents find housing. Loans are also available for residents who need to repair their current home.

North Dakota Mortgage Taxes

Homeowners in North Dakota who make itemized deductions on their taxes can deduct the mortgage interest they pay throughout the year from their taxable income when they are filing both their federal and North Dakota income taxes.

It’s also important to note that North Dakota does not charge real estate transfer taxes.

North Dakota Mortgage Refinance

Refinancing your mortgage can save you thousands a month. If you've decided it's time to refinance in North Dakota, look into the High Loan-to-Value Refinance Option from Fannie Mae. This has come into existence to replace the void that the removal of the Home Affordable Refinance Program (HARP) created in 2018.