Compare mortgage rates and fees for leading lenders in Minot, 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 Minot.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Minot. Plus, shopping lenders is free and there is no obligation.
October 22, 2019
The current average rate for a 30 year fixed rate mortgage in Minot 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%
The median home value for Minot, ND (Ward County) is $212,591
The median household income for Minot, ND (Ward County) is $66,120
Based on current mortgage rates and a 10% down payment, you need to make $39,442 per year to buy the median priced home in Minot
The home price you can afford to buy based on household income in Minot is 168% of the median home value which means housing prices are average
Minot (Ward County) ranks 50 out of 53 counties in North Dakota and 2,241 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Minot, ND is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Minot (Ward County) below.
Conforming loan limits for Minot, ND
FHA loan limits for Minot, ND
VA loan limits for Minot, ND
US Census Bureau American Community Survey: https://www.census.gov/programs-surveys/acs
FHFA House Price Index: https://www.fhfa.gov/DataTools/Downloads/Pages/House-Price-Index-Datasets.aspx#qat
Income Growth: https://www.bls.gov
National Average Rates: http://www.freddiemac.com/pmms/
Conforming Loan Limits: https://www.fhfa.gov/DataTools/Downloads/Pages/Conforming-Loan-Limits.aspx
FHA Loan Limits: https://entp.hud.gov/idapp/html/hicostlook.cfm
VA Loan Limits: https://www.benefits.va.gov/homeloans/purchaseco_loan_limits.asp
FREEandCLEAR Housing Affordability Index