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North Dakota Mortgage and Refinance Rates

On Tuesday, March 21, 2023, the national average 30-year fixed mortgage APR is 6.93%. The national average 30-year fixed refinance APR is 6.95%, according to Bankrate's latest survey of the nation's largest mortgage lenders.

Bankrate has offers for North Dakota mortgage and refinances from top partners that are well below the national average. Compare, apply, and start saving today.

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North Dakota mortgage overview

As of Tuesday, March 21, 2023, current mortgage interest rates in North Dakota are 6.95% for a 30-year fixed mortgage and 6.18% for a 15-year fixed mortgage. North Dakota tends to have more affordable housing compared to the rest of the U.S., with a median home value of $185,000, according to Census figures.

If you’re buying a home in North Dakota, keep in mind that a new state law requires sellers in North Dakota to provide homebuyers with a disclosure form which lists details about the property. The North Dakota Residential Real Estate Disclosure Statement is the one most sellers use. Its purpose is to protect the buyer and the integrity of the home sale.

First-time homebuyer programs in North Dakota

The North Dakota Housing Finance Agency (NDHFA) offers programs which can help first-time homebuyers, including the disabled, veterans and low- to moderate-income residents. First-time homebuyers also have access to down payment assistance programs through the organization.

FirstHome Program

The FirstHome program through the NDHFA helps first-time homebuyers with low- to moderate-income and who have not owned a home in the past three years (including a manufactured home on a permanent foundation) obtain an affordable mortgage. Depending on the lender, the program may offer less stringent requirements for a minimum down payment than other kinds of mortgages.

Eligibility requirements include being a North Dakota resident; the property in question must be the primary residence; and the borrower must make a minimum upfront $500 cash payment. Homebuyers need to meet income requirements, as well, which vary based on the size of your household and county, and home price purchase limits.

DCA Program

NDHFA’s DCA program offers down payment and closing cost assistance to homebuyers, both first-time and repeat buyers, along with an affordable mortgage. You’ll need to have an NDHFA mortgage to qualify.

To be eligible for the DCA program, borrowers must use it exclusively (i.e., no other assistance can be applied), purchase a home that they’ll live in, either a one- or two-unit property, and meet qualifying income limits based on county and household size. Additional requirements include completing a homebuyer education course — the certificate of completion needs to be dated before loan closing — and purchasing a property not within a 100-year flood plain.

Start Program

The Start program also offers closing cost and down payment assistance for those who have their first mortgage from HDHFA and can meet the income requirements. Homebuyers cannot use this program with other down payment assistance programs, and the one- or two-unit property needs to be occupied by the owner.

North Dakota Roots Program

First-time homebuyers who exceed FirstHome program income limits may be able to obtain an affordable mortgage through the North Dakota Roots Program instead. Through the program, the NDHFA offers affordable mortgage loans to moderate-income buyers, whether they be first-timers or previous homeowners.

Borrowers need to make a $500 minimum upfront cash payment, use the home as a primary residence and meet income requirements. In addition, the property price needs to comply with current Fannie Mae/Freddie Mac (or the applicable loan guarantor) conforming loan amounts.

North Dakota mortgage refinancing

North Dakota homeowners interested in refinancing can compare refinance rates from private lenders, banks and mortgage brokers. Whichever offer and lender you decide to refinance with, it’s a good idea to understand your goals, do extensive research and shop around. That way you’ll ensure you’re getting the best rates and terms.

North Dakota mortgage resources