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Minot

Current Mortgage Rates in Minot, North Dakota

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.

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Mortgage Rates in Minot, ND as of December 9, 2019
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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.

How Do Today's Minot, ND Mortgage Rates Compare?

December 9, 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%

Mortgage Program
Today's
Minot, ND Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.690%
15 Year Fixed Rate
B.BBB%
3.150%
5/1 Adjustable Rate Mortgage
C.CCC%
3.350%

How Affordable is Housing in Minot, North Dakota?

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

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Loan Limits for Minot, North Dakota

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

1 unit: $484,350
2 units: $620,200
3 units: $749,650
4 units: $931,600

FHA loan limits for Minot, ND

1 unit: $314,827
2 units: $403,125
3 units: $487,250
4 units: $605,525

VA loan limits for Minot, ND

1 unit: $484,350

Additional Mortgage Resources for Minot, ND Residents

Mortgage Rates for North Dakota Cities

Bismarck Mortgage Rates

Fargo Mortgage Rates

Grand Forks Mortgage Rates

Minot Mortgage Rates

Williston Mortgage Rates

Sources

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