The Best Mortgage Lenders in Bismarck, ND
Compare verified mortgage lenders serving Bismarck, North Dakota. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Bismarck
Featured Mortgage Lenders
Fairway Independent Mortgage
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage is a top-rated lender in Bismarck with a strong local presence, known for its competitive rates and exceptional customer service. With over 28 years of experience, they specialize in a wide range of loan products and have consistently high customer satisfaction ratings due to their personalized approach and efficient processing. Their team in Bismarck is highly responsive and well-regarded for guiding clients through the mortgage process with transparency and expertise.
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New American Funding
New American Funding
New American Funding is a highly reputable mortgage lender serving Bismarck from its Fargo office, offering competitive rates and a diverse portfolio of loan options. Founded in 2003, they have built a strong track record for reliability and customer-centric services, with an emphasis on helping first-time homebuyers and diverse communities. Their high ratings reflect their commitment to transparency, fast closings, and excellent support throughout the loan process.
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Guaranteed Rate
Guaranteed Rate
Guaranteed Rate is a leading mortgage lender with a strong regional presence in North Dakota, serving Bismarck from its Fargo location. Established in 2000, they are known for their innovative digital tools, competitive rates, and efficient service. With a focus on customer satisfaction, they offer a wide array of loan products and have earned high marks for their streamlined application process and knowledgeable loan officers, making them a trusted choice for homebuyers in the area.
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Frequently Asked Questions
Common questions about mortgage lending in Bismarck, ND
Are there any special first-time homebuyer programs available in Bismarck, ND?
Yes, the North Dakota Housing Finance Agency (NDHFA) offers several programs for Bismarck buyers, including the FirstHome program with competitive interest rates and down payment assistance. Additionally, the agency's HomeAccess program provides support for households with a member who has a disability. These programs often have income and purchase price limits, so it's important to check current eligibility requirements.
How do Bismarck's property taxes affect my mortgage payment and qualification?
Burleigh County, where Bismarck is located, has relatively moderate property tax rates compared to national averages, which can be a benefit for your monthly payment. However, lenders will still include the estimated annual taxes in your debt-to-income (DTI) ratio calculation. It's wise to get a precise tax estimate for any property you're considering, as rates can vary slightly.
What is a typical down payment needed for a home in Bismarck's current market?
While 20% down avoids private mortgage insurance (PMI), many conventional loans in Bismarck are available with as little as 3-5% down, especially for first-time buyers. Given the competitive but more balanced market compared to larger cities, a strong offer with a lower down payment is still possible, particularly if you have a good credit score and use a local lender familiar with the area.
Are USDA rural development loans a viable option for homes in Bismarck, ND?
Yes, surprisingly, much of the Bismarck area is eligible for USDA loans, which offer 100% financing (no down payment). While Bismarck is the state capital, the USDA's definition of "rural" includes many neighborhoods and surrounding communities. A local mortgage lender can quickly determine if a specific property address qualifies for this advantageous program.
How does North Dakota's strong energy and agricultural economy influence mortgage lending in Bismarck?
The stable state economy, driven by energy and agriculture, generally supports steady employment and home values in Bismarck. This stability can be viewed favorably by lenders. However, for buyers whose income is directly tied to these cyclical industries (e.g., oil field workers, farmers), lenders may require a longer history of stable employment or additional documentation to qualify.
Why Choose a Mortgage Lender in Bismarck?
Local Market Knowledge
Lenders who understand Bismarck's housing market can offer better guidance and competitive rates.
Multiple Loan Options
Access to conventional, FHA, VA, USDA, and jumbo loans tailored to your financial situation.
Proven Track Record
Work with lenders who have years of experience and hundreds of satisfied customers in North Dakota.
Ready to Find Your Perfect Mortgage Lender?
Connect with top-rated mortgage professionals in Bismarck and get competitive rates on your home loan.