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North Dakota Mortgage (ND)
Home prices in North Dakota have not risen at the frenetic pace of the East and West coasts of the U.S., and therefore are not likely to fall as in those areas of the country that may be experiencing a bubble. So there is less risk associated with purchasing a home in North Dakota compared to many other areas of the country. This also makes homes in North Dakota relatively affordable compared to many other areas. Mortgage rates fell slightly in early April, making this a good time to purchase or re-finance a home in North Dakota.
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Quick North Dakota Housing facts
Percent of North Dakotans who own a home: 66.6%
Percent of Renters in North Dakota: 33.4%
Median North Dakota Household Income: $38,720
Average North Dakota credit score: 706
Median North Dakota Home Value: $74,400
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How much house can I afford in North Dakota
One of the biggest problems facing North Dakota’s homebuyers is figuring out how much house you can afford. We have some great mortgage calculators that can help you figure how much home will fit into your monthly budget. Don’t forget there are many other home options out there specifically for North Dakota’s residences. We work with local and national lenders to make sure that you get the best rate possible.
Refinancing in North Dakota
If credit card debt or other high interest debt is starting to take over you life, it might be time to do a cash out refi. A cash out refinance allows you to pull money from you home, and lower your monthly payment.
Other reason you might want to consider refinancing are to switch your current loan type. If you have an interest only or adjustable rate mortgage (ARM) and want a fixed rate mortgage, it might be a good time to refinance while rates are still low.
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This site is not a broker and does not collect or solicit mortgage applications. Content is for informational or comparison purposes only. Services are not available in New York. Products and services may not be available in all other states.
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| Type of Loan |
Rate* APR* |
| 5 Year ARM | 5.821% 5.033% |
| 15 Year Fixed | 5.243% 5.288% |
| 30 Year Fixed | 5.729% 5.717% |
| Home Equity Loan | 7.420% 5.740% |
| HELOC | 6.305% 6.990% |
| *Rate & APR Based on The Bradford Index |
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