The Best Mortgage Lenders in Towner, ND
Compare verified mortgage lenders serving Towner, North Dakota. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Towner
Featured Mortgage Lenders
First International Bank & Trust
First International Bank & Trust
First International Bank & Trust is the primary local banking institution actually located in Towner, North Dakota, providing personalized mortgage services to the community for over a century. As a community-focused bank with deep roots in McHenry County, they offer the advantage of local underwriting and decision-making, which is particularly valuable in rural North Dakota. Their loan officers have extensive experience with agricultural properties, rural housing, and USDA loans that are well-suited for the Towner area. Customers consistently praise their responsive service, competitive rates for the region, and understanding of local real estate markets.
Loan Types:
Capital Credit Union
Capital Credit Union
Capital Credit Union is a highly-rated regional financial institution that serves members throughout North Dakota, including the Towner area. With strong digital capabilities and multiple branch locations across the region, they provide convenient mortgage services to rural communities. They are particularly noted for their competitive interest rates, low closing costs, and exceptional member service. Their mortgage specialists have specific expertise with North Dakota rural properties and offer specialized programs for first-time homebuyers and agricultural workers. The credit union consistently receives high marks for transparency throughout the loan process and personalized attention.
Loan Types:
Guild Mortgage
Guild Mortgage Company
Guild Mortgage is a nationally recognized mortgage lender with a strong local presence in North Dakota through their Grand Forks branch, which actively serves the Towner community. They are particularly renowned for their extensive experience with government-backed loans including USDA rural development loans, which are ideal for properties in and around Towner. Guild receives consistent praise for their efficient processing, knowledgeable loan officers, and ability to handle complex rural property transactions. Their digital mortgage platform combined with local expertise makes them a popular choice for borrowers seeking both technological convenience and personalized service in north-central North Dakota.
Loan Types:
Frequently Asked Questions
Common questions about mortgage lending in Towner, ND
What are typical mortgage rates for homebuyers in Towner, ND, and how do they compare to state or national averages?
Mortgage rates in Towner are generally very competitive and often slightly below national averages due to North Dakota's stable economy and lower risk profile for lenders. However, as a rural area, your specific rate will depend heavily on your credit profile and down payment. It's advisable to check with local credit unions like Towner County State Bank or regional lenders familiar with the area for the most accurate quotes.
Are there any special mortgage or down payment assistance programs for first-time homebuyers in Towner?
Yes, North Dakota Housing Finance Agency (NDHFA) programs are accessible to Towner residents. Key programs include the *FirstHome* loan with competitive rates and the *Dakota Home* program, which offers down payment and closing cost assistance in the form of a second mortgage. These programs have income and purchase price limits, but Towner's market typically falls well within these thresholds, making them an excellent resource.
How does the appraisal process work in Towner's rural market, where comparable home sales can be limited?
Appraisals in Towner and surrounding McHenry County can be challenging due to a lower volume of recent sales. Lenders often use appraisers familiar with rural properties who may need to expand their geographic search or use older comparable sales. To prepare, provide any information on unique property features (like acreage, outbuildings, or wells) to help the appraiser accurately assess value.
What should I know about securing a mortgage for an agricultural or recreational property with land near Towner?
Financing a property with significant acreage (typically over 10 acres) or agricultural outbuildings requires a specialized mortgage product, such as a rural or agricultural loan, not a standard conventional loan. Local lenders and farm credit associations like AgriBank are experienced in these transactions and can structure loans based on the property's income potential or its value as a primary residence with land.
Are there any local property tax considerations or programs in Towner that affect my mortgage payment and affordability?
North Dakota offers a homestead tax credit for primary residences, which can significantly reduce the property tax burden for eligible homeowners, including those in Towner. Your lender will calculate property taxes into your escrow payment based on the county's mill levy. It's wise to consult the McHenry County Treasurer's office for precise tax estimates on a property, as taxes can vary.
Why Choose a Mortgage Lender in Towner?
Local Market Knowledge
Lenders who understand Towner'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 Towner and get competitive rates on your home loan.