North Dakota mortgage and refinance rates for May 2026

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To qualify for a conventional loan, you’ll need a credit score of at least 620 and a debt-to-income (DTI) ratio of no more than 45%. If you make a down payment of less than 20%, you’ll need to pay for private mortgage insurance (PMI), as well.

If your credit history disqualifies you from a conventional loan, you might be eligible for a loan insured by the Federal Housing Administration (FHA). For this type of mortgage, you’ll need a credit score of at least 580 with a 3.5% down payment. As with a conventional loan, if you put down less than 20% on an FHA loan, you’ll be on the hook for mortgage insurance.

If you’re an eligible veteran or active-duty member of the military, you might qualify for a mortgage backed by the Department of Veterans Affairs (VA). A VA loan doesn’t require a down payment or mortgage insurance, but you do need to pay a funding fee.

The FirstHome program through the NDHFA helps first-time homebuyers with a low to moderate income obtain a more affordable mortgage. Depending on the lender you work with, you might not need to make as much of a down payment, either. To be eligible, you must be a North Dakota resident; the property in question must be your primary residence; and you must make a minimum upfront $500 cash payment. You’ll also need to meet income requirements, which vary based on your household size and county, and home price purchase limits.

NDHFA’s DCA program offers down payment and closing cost assistance, up to 3%, along with an affordable mortgage. You’ll need to have an NDHFA mortgage to qualify. To be eligible for the DCA program, you must use it exclusively (that is, you can’t apply any other forms of assistance), purchase a home that you’ll live in (versus an investment property) and meet qualifying income limits based on county and household size. You’ll also need to complete a homebuyer education course.

The Start program also offers closing cost and down payment assistance of up to 3% for those who have their first mortgage from the NDHFA and can meet the income requirements.