The Best Mortgage Lenders in Taylor, ND
Compare verified mortgage lenders serving Taylor, North Dakota. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Taylor
Featured Mortgage Lenders
Alerus Financial Mortgage Team
Alerus Financial, N.A.
Alerus Financial is a highly-rated regional bank deeply embedded in North Dakota communities, including Taylor. With over two decades of experience, they offer personalized mortgage solutions and competitive rates, backed by strong local knowledge and exceptional customer service. Their commitment to the region and wide range of loan options make them a top choice for homebuyers in Stark County.
Loan Types:
New American Funding Mortgage Advisors
New American Funding
New American Funding is a nationally recognized mortgage lender with a strong presence in North Dakota, serving Taylor and surrounding areas. They are praised for their competitive rates, efficient online processes, and diverse loan products. With high customer satisfaction ratings and a focus on inclusive lending, they provide reliable support for various home financing needs.
Loan Types:
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is a well-established lender known for serving rural communities like Taylor with expertise and dedication. They offer fast closings, competitive rates, and a customer-first approach, supported by extensive experience in North Dakota. Their wide array of loan options and strong reputation for reliability make them a trusted partner for local homebuyers.
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Frequently Asked Questions
Common questions about mortgage lending in Taylor, ND
What are the typical down payment requirements for a mortgage in Taylor, ND, given the local market?
In Taylor's more affordable housing market, many conventional loans can be secured with a 5% down payment, and FHA loans require as little as 3.5%. Local lenders are often familiar with USDA Rural Development loans, which offer 0% down payment options for eligible properties and borrowers in this qualifying rural area, making homeownership very accessible.
Are there any North Dakota or local first-time homebuyer programs specifically beneficial for Taylor residents?
Yes, the North Dakota Housing Finance Agency (NDHFA) offers the *FirstHome* program, which provides competitive interest rates and down payment/closing cost assistance to eligible first-time buyers statewide, including in Taylor. Additionally, some local credit unions may offer special programs or grants for first-time buyers in the community, so it's wise to check with institutions like Gate City Bank or Bremer Bank.
How do property taxes in Stark County affect my monthly mortgage payment in Taylor?
Stark County, where Taylor is located, has relatively low property tax rates compared to national averages. Your lender will estimate these taxes for your escrow account, but you can expect this portion of your PITI payment to be manageable. It's advisable to get a precise quote from the Stark County Treasurer's office for an accurate monthly estimate.
What type of property appraisal challenges are common in the Taylor area?
Appraisals in smaller rural communities like Taylor can sometimes be challenging due to a lower volume of recent comparable home sales ("comps"). An appraiser may need to look at sales in nearby towns like Dickinson. Using a local lender with experience in the area is crucial, as they can help ensure the appraiser has the proper context for valuing properties in this specific market.
Is homeowner's insurance more expensive for mortgages on properties with acreage outside Taylor city limits?
Yes, if your property includes significant acreage, outbuildings, or is used for agricultural purposes, insurance premiums can be higher due to increased liability and replacement cost. It's essential to get insurance quotes early in the mortgage process, as your lender will require adequate coverage, and this cost will directly impact your total monthly payment.
Why Choose a Mortgage Lender in Taylor?
Local Market Knowledge
Lenders who understand Taylor'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 Taylor and get competitive rates on your home loan.