The Best Mortgage Lenders in Milton, ND
Compare verified mortgage lenders serving Milton, North Dakota. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Milton
Featured Mortgage Lenders
Mortgage Department
Gate City Bank
Gate City Bank is one of North Dakota's most trusted community banks with a century of service and the highest customer satisfaction ratings in the region. They offer highly competitive rates and personalized service with local decision-making. Their mortgage team specializes in rural and small community lending, making them an excellent choice for Milton residents. They have consistently earned 5-star Bauer Financial ratings and are known for their exceptional customer service and community involvement throughout North Dakota.
Loan Types:
Mortgage Center
Bell Bank Mortgage
Bell Bank Mortgage has built an outstanding reputation across North Dakota with their "Happy Banking" philosophy and commitment to local communities. They offer competitive rates with no origination fees on many loan products and have specialized programs for rural homebuyers. Their experienced loan officers provide personalized service and local underwriting decisions. Bell Bank consistently receives top ratings for customer satisfaction and has deep roots serving communities throughout eastern North Dakota, including the Milton area.
Loan Types:
Mortgage Lending Department
First International Bank & Trust
First International Bank & Trust has strong expertise in serving rural North Dakota communities with a comprehensive range of mortgage products tailored to smaller markets. They understand the unique needs of towns like Milton and offer flexible financing solutions with local servicing. With decades of experience in the region, they provide competitive rates and personalized attention throughout the loan process. Their commitment to community banking and extensive branch network across eastern North Dakota makes them a reliable choice for Milton area homebuyers.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Milton, ND
What are typical down payment requirements for homes in Milton, ND, given the local market?
In Milton's more affordable housing market, many conventional loans can be secured with a 5% down payment. For homes under the local conforming loan limit, which is higher than the national average due to North Dakota's county designations, you may also qualify for a 3% down payment program. Local lenders are familiar with the area's property values and can advise on the best structure for your purchase.
Are there any North Dakota or local programs to help first-time homebuyers in Milton?
Yes, the North Dakota Housing Finance Agency (NDHFA) offers the *FirstHome* program, which provides competitive 30-year fixed-rate mortgages and down payment assistance to eligible first-time buyers in Milton. This program is particularly valuable as it can be combined with a mortgage credit certificate (MCC) for potential federal tax savings, increasing your purchasing power in the local market.
How does Milton's rural location and economy impact mortgage approval and property appraisal?
Lenders may take a closer look at employment stability and income sources, given the area's ties to agriculture and energy. Appraisals can sometimes be challenging due to fewer comparable home sales ("comps") in the immediate area, so working with a lender experienced in rural North Dakota is key. They will ensure the appraiser uses appropriate comparables from similar communities in the region.
What should I know about property taxes and insurance when calculating my monthly payment in Milton?
Property taxes in Cavalier County, where Milton is located, are a significant component of your monthly escrow payment. It's important to get an accurate estimate from the county assessor's office. Furthermore, due to the rural setting, you may need to budget for additional insurance considerations, such as private well and septic system coverage or specific riders for outbuildings common on local properties.
Are USDA Rural Development loans a viable option for buying a home in Milton, ND?
Absolutely. Milton qualifies for USDA Rural Development loans, which offer 100% financing (no down payment) to eligible buyers with moderate incomes. This is an excellent program for the area, as it's specifically designed for communities of this size. A local mortgage officer can help you determine if your income and the specific property location meet the USDA's eligibility requirements.
Why Choose a Mortgage Lender in Milton?
Local Market Knowledge
Lenders who understand Milton'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 Milton and get competitive rates on your home loan.