Compare Minot, ND mortgage rates and fees from top lenders. 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 lowest 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.
November 30, 2022
Below we provide helpful information on the real estate market, home prices and housing affordability in Minot. Understand how much you need to earn to afford a home in Minot, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Minot 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 Minot is right for you.
The median home value for Minot, ND (Ward County) is $244,755
Based on current mortgage rates and a 10% down payment, you need to make $40,102 per year to buy the median priced home in Minot
With this income, you could qualify for a $220,280 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 Minot is $929
The median household income for Minot, ND (Ward County) is $77,190
Based on this income, you can afford a home valued at approximately $471,116
The home price you can afford to buy based on household income in Minot is 192% of the median home value which means housing prices are average. Minot (Ward County) ranks 49 out of 53 counties in North Dakota and 1,884 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