The Best Mortgage Lenders in Ross, ND
Compare verified mortgage lenders serving Ross, North Dakota. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Ross
Featured Mortgage Lenders
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is a top-rated lender known for its exceptional customer service and competitive rates, with a strong presence in North Dakota. They specialize in serving rural communities like Ross, offering personalized guidance and a wide range of loan options. Their high ratings reflect reliability, fast processing, and a commitment to community support, making them a trusted choice for homebuyers in the region.
Loan Types:
Guaranteed Rate
Guaranteed Rate
Guaranteed Rate is a highly regarded national lender with a local office in Fargo, providing efficient and transparent mortgage services to Ross and surrounding areas. They are praised for their user-friendly online tools, competitive rates, and quick loan approvals. With a focus on customer satisfaction and extensive experience, they offer flexible loan products tailored to diverse needs, earning strong reviews for reliability and professionalism.
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New American Funding
New American Funding
New American Funding stands out for its dedication to inclusive lending and high customer satisfaction, serving Ross through its Fargo presence. They offer a variety of loan programs with a focus on first-time homebuyers and underserved communities, backed by competitive rates and personalized service. Their strong reputation is built on transparency, community engagement, and efficient processing, making them a reliable option for North Dakota residents.
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Frequently Asked Questions
Common questions about mortgage lending in Ross, ND
What are the typical mortgage rates available in Ross, ND, and how do they compare to state or national averages?
Mortgage rates in Ross, ND, are generally very competitive and often slightly lower than national averages due to the area's stable, low-cost housing market and lower risk profile for lenders. As a rural community, local lenders and regional banks familiar with the Ross market can offer favorable terms. It's always wise to compare offers from a local credit union, a regional bank, and a national lender to secure the best rate.
Are there any down payment assistance or first-time homebuyer programs specifically for Ross, ND, residents?
Yes, North Dakota Housing Finance Agency (NDHFA) programs, like the FirstHome and HomeAccess programs, are available statewide to Ross residents who meet income and purchase price limits. These programs offer competitive interest rates and down payment and closing cost assistance in the form of a low-interest second mortgage. Working with a local lender approved by NDHFA is crucial, as they are best equipped to navigate these state-specific programs for your Ross home purchase.
How does the appraisal process work for a home in a small, rural town like Ross, and what unique challenges might arise?
Appraisals in Ross can be challenging due to the limited number of recent, comparable home sales ("comps") in the immediate area. An appraiser may need to look at sales in nearby towns like Stanley or even farther, making the process more nuanced. Using a local lender who works with appraisers experienced in rural Mountrail County is essential to ensure a fair and accurate valuation that satisfies the mortgage underwriting requirements.
What should I know about property taxes and insurance when getting a mortgage in Ross, ND?
Property taxes in Mountrail County, where Ross is located, are a significant part of your monthly escrow payment and can vary. It's important to get an accurate estimate from the county assessor's office. For insurance, you'll need a robust homeowner's policy that specifically covers risks relevant to rural North Dakota, such as wind/hail damage and potential sewer backup, which lenders will require before closing.
Are USDA Rural Development loans a good option for buying a home in Ross, and what are the benefits?
USDA loans are an excellent and popular option for Ross, as the entire town qualifies for the USDA's rural housing program. These loans offer 100% financing (no down payment required), competitive interest rates, and lower mortgage insurance costs compared to conventional loans. To qualify, you must meet income eligibility limits for the area and purchase a home that meets USDA property standards.
Why Choose a Mortgage Lender in Ross?
Local Market Knowledge
Lenders who understand Ross'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 Ross and get competitive rates on your home loan.