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Bismarck

Current Mortgage Rates in Bismarck, North Dakota

Compare mortgage rates and fees for leading lenders in Bismarck, ND. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lender offering the best mortgage rates in Bismarck.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Bismarck. Plus, shopping lenders is free and there is no obligation.

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Mortgage Rates in Bismarck, ND as of July 5, 2020
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Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click for more information on rates and product details.
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How Do Today's Bismarck, ND Mortgage Rates Compare?

July 5, 2020

The current average rate for a 30 year fixed rate mortgage in Bismarck is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%

Mortgage Program
Today's
Bismarck, ND Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.650%
15 Year Fixed Rate
B.BBB%
3.090%
5/1 Adjustable Rate Mortgage
C.CCC%
3.390%

How Affordable is Housing in Bismarck, North Dakota?

Below we provide helpful information on the real estate market, home prices and housing affordability in Bismarck. Understand how much you need to earn to afford a home in Bismarck, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Bismarck fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Bismarck is right for you.

The median home value for Bismarck, ND (Burleigh County) is $274,542

Based on current mortgage rates and a 10% down payment, you need to make $49,410 per year to buy the median priced home in Bismarck

With this income, you could qualify for a $247,088 mortgage, assuming your monthly debt expense is reasonable

Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Bismarck is $1,144

The median household income for Bismarck, ND (Burleigh County) is $70,986

Based on this income, you can afford a home valued at approximately $394,422

The home price you can afford to buy based on household income in Bismarck is 144% of the median home value which means housing prices are average. Bismarck (Burleigh County) ranks 51 out of 53 counties in North Dakota and 2,610 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Bismarck, ND is average

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Loan Limits for Bismarck, North Dakota

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Bismarck (Burleigh County) below.

Conforming loan limits for Bismarck, ND

1 unit: $510,400
2 units: $653,550
3 units: $789,950
4 units: $981,700

FHA loan limits for Bismarck, ND

1 unit: $331,760
2 units: $424,800
3 units: $513,450
4 units: $638,100

VA loan limits for Bismarck, ND

1 unit: $510,400

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