The Best Mortgage Lenders in Oakes, ND
Compare verified mortgage lenders serving Oakes, North Dakota. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Oakes
Featured Mortgage Lenders
Ryan Kallenberger
Gateway Mortgage Group
Gateway Mortgage Group, with Ryan Kallenberger as the lead loan officer, is one of the highest-rated mortgage lenders serving eastern North Dakota, including Oakes. With over 20 years in business and excellent customer reviews, they specialize in rural housing loans including USDA loans which are particularly relevant for Oakes area residents. Their Fargo location provides convenient regional access while serving the entire southeast North Dakota region with competitive rates and personalized service for both purchase and refinance transactions.
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Bell Bank Mortgage
Bell Bank Mortgage
Bell Bank Mortgage is a highly respected regional financial institution with deep roots in North Dakota communities. While headquartered in Fargo, they actively serve the Oakes area with specialized knowledge of rural and agricultural community lending needs. With exceptional customer service ratings and a wide range of loan products, they're particularly strong in construction lending and first-time homebuyer programs. Their long-standing community presence and commitment to local service make them a trusted choice for Oakes residents seeking reliable mortgage financing.
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Alerus Financial
Alerus Financial Mortgage
Alerus Financial provides comprehensive mortgage services throughout North Dakota with specific expertise in serving smaller communities like Oakes. As a established regional financial institution, they offer competitive rates and personalized service with deep understanding of rural housing markets. Their mortgage team has extensive experience with USDA rural development loans and other programs beneficial to Oakes area homebuyers. With multiple North Dakota locations and strong community banking roots, they provide the local knowledge and service quality that rural homebuyers appreciate.
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Frequently Asked Questions
Common questions about mortgage lending in Oakes, ND
What are the typical mortgage rates available in Oakes, ND, and how do they compare to state or national averages?
Mortgage rates in Oakes are generally very competitive and often slightly below national averages due to the area's stable, low-risk housing market and strong local lending institutions. As of recent trends, rates in Oakes typically align with or are marginally better than the North Dakota state average, which benefits from a robust agricultural and energy economy. It's always best to check with local banks and credit unions, like Dacotah Bank or First Community Credit Union, for their most current offerings.
Are there any down payment assistance or first-time homebuyer programs specifically for Oakes residents?
Yes, Oakes homebuyers have access to the North Dakota Housing Finance Agency's (NDHFA) "Home of Your Own" program, which offers competitive interest rates and down payment assistance. Additionally, local lenders may offer special programs or grants for first-time buyers in the Oakes area, sometimes in partnership with city or county initiatives aimed at promoting homeownership. Consulting with a local mortgage officer is the best way to learn about all available assistance.
How does the appraisal process work in Oakes, given the mix of town properties and rural acreages?
Appraisals in Oakes require appraisers familiar with both the town's residential market and the valuation of rural properties, which may include acreages, outbuildings, or agricultural influences. Comparable sales can be more limited than in urban areas, so appraisers often look at similar properties in nearby towns like Ellendale, LaMoure, or Aberdeen, SD. This local expertise is crucial for an accurate valuation that satisfies lender requirements.
What should I know about property taxes and insurance when calculating my monthly mortgage payment in Oakes?
Property taxes in Dickey County (where Oakes is located) are relatively moderate but can vary based on the property's location—whether inside city limits or in the township. Homeowners insurance is also a key factor and may include considerations for weather-related risks common to the region, such as hail or wind. Your lender will help you estimate these costs for an accurate total monthly payment, often using an escrow account to manage them.
Are USDA Rural Development loans a viable option for homes in or near Oakes, ND?
Absolutely. Oakes is in an area eligible for USDA Rural Development loans, which offer 100% financing (no down payment) for qualified buyers and properties. This is an excellent option for many homebuyers in Oakes, as the program is designed for towns with populations under 35,000. You should confirm the specific eligibility of a property address with a lender experienced in USDA loans, as some areas on the town's fringe may qualify even if the core does not.
Why Choose a Mortgage Lender in Oakes?
Local Market Knowledge
Lenders who understand Oakes'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 Oakes and get competitive rates on your home loan.