The Best Mortgage Lenders in Regan, ND
Compare verified mortgage lenders serving Regan, North Dakota. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Regan
Featured Mortgage Lenders
Gate City Bank Mortgage Team
Gate City Bank
Gate City Bank is one of North Dakota's most trusted mortgage lenders with over a century of service. They maintain exceptional customer satisfaction ratings and have a strong presence throughout central and eastern North Dakota, including serving the Regan area. Their local loan officers provide personalized service with competitive rates, and they're known for their community involvement and straightforward mortgage process.
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First International Bank & Trust Mortgage Division
First International Bank & Trust
First International Bank & Trust has built an outstanding reputation for mortgage lending across North Dakota with particular strength in rural communities like Regan. They offer comprehensive mortgage solutions with local decision-making and personalized service. Their experienced loan officers understand the unique needs of North Dakota homebuyers and provide competitive rates with various loan programs suitable for both urban and rural properties.
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Bell Bank Mortgage
Bell Bank
Bell Bank Mortgage is consistently ranked among the top mortgage lenders in the Upper Midwest with extensive experience serving North Dakota communities including Regan. They're known for their "Pay It Forward" philosophy and exceptional customer service. Their mortgage team provides competitive rates, flexible terms, and a streamlined application process with local support throughout Burleigh County and surrounding areas.
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Frequently Asked Questions
Common questions about mortgage lending in Regan, ND
What are the current mortgage rates like in Regan, ND, and are they different from the national average?
Mortgage rates in Regan typically align closely with national averages, but local lenders may offer competitive rates due to lower operational costs in a small community. It's always wise to compare offers from both local credit unions, like those in nearby Bismarck, and national lenders. Rates can be influenced by the strong local economy tied to agriculture and energy.
Are there any down payment assistance or first-time homebuyer programs specifically for Regan residents?
Yes, the North Dakota Housing Finance Agency (NDHFA) offers statewide programs like the *FirstHome* and *HomeAccess* programs, which are accessible to Regan homebuyers. These programs provide competitive interest rates and down payment assistance in the form of a second mortgage. Given Regan's affordable market, these programs can be particularly powerful in covering a significant portion of the down payment.
How does the appraisal process work in Regan's rural housing market?
Appraisals in Regan can be challenging due to the limited number of recent, comparable home sales ("comps") in a small, rural area. Appraisers often need to look at properties in a wider radius, including towns like Washburn or Turtle Lake, and may place more value on land size and agricultural utility. Working with a lender experienced in rural North Dakota is crucial for a smooth process.
What type of property insurance considerations are unique to getting a mortgage in Regan?
Lenders will require standard homeowners insurance, but in Regan's rural setting, you may also need separate coverage for outbuildings, equipment sheds, or livestock if applicable. Furthermore, due to the area's exposure to severe weather like hail and winter storms, ensuring your policy adequately covers these perils is essential for mortgage approval and protecting your investment.
How do lenders view income from farming or oil field work when qualifying for a mortgage in Regan?
Lenders familiar with the Regan area are accustomed to evaluating variable and seasonal income common in agriculture and energy sectors. You'll typically need to provide two years of tax returns and possibly year-to-date profit/loss statements to demonstrate stable income. For W-2 oil field workers, consistent overtime and bonus income can often be counted with proper documentation.
Why Choose a Mortgage Lender in Regan?
Local Market Knowledge
Lenders who understand Regan'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 Regan and get competitive rates on your home loan.