The Best Mortgage Lenders in Williston, ND
Compare verified mortgage lenders serving Williston, North Dakota. Find competitive rates on conventional, FHA, VA, and jumbo loans from experienced professionals.
Available Loan Programs in Williston
Featured Mortgage Lenders
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation
Fairway Independent Mortgage Corporation is a highly rated national lender with a strong reputation for exceptional customer service and competitive mortgage rates. Founded in 1996, they have over 25 years of experience and maintain a significant presence in North Dakota, including Williston, through local loan officers. They are known for their wide range of loan products, personalized service, and high customer satisfaction, making them a top choice for homebuyers in the region.
Loan Types:
Guaranteed Rate
Guaranteed Rate
Guaranteed Rate is a leading digital mortgage lender acclaimed for its innovative online platform and competitive rates. With over 20 years in business, they serve Williston and surrounding areas through a national network of loan officers, offering a streamlined application process and excellent customer support. Their high ratings and commitment to transparency make them a reliable option for home financing in North Dakota.
Loan Types:
New American Funding
New American Funding
New American Funding is a top-rated mortgage lender known for its dedication to diverse communities and exceptional customer service. Founded in 2003, they offer a variety of loan programs tailored to first-time homebuyers and others in Williston, with competitive rates and a strong track record of satisfaction. Their extensive experience and community-focused approach ensure reliable support for North Dakota residents.
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Frequently Asked Questions
Common questions about mortgage lending in Williston, ND
How does the volatile nature of Williston's oil-based economy affect mortgage approval and lending standards?
Lenders in Williston are acutely aware of the local economic cycles and often apply more stringent underwriting for borrowers employed in the oil and gas sector. They may require a longer employment history (often 2+ years in the industry) and scrutinize income stability more closely, especially if it includes significant overtime or bonuses. Self-employed individuals in related fields may face additional documentation requirements to prove sustained income.
Are there any North Dakota or local first-time homebuyer programs specifically beneficial for Williston residents?
Yes, the North Dakota Housing Finance Agency (NDHFA) offers the "FirstHome" program, which provides competitive interest rates and down payment assistance. This is particularly valuable in Williston, where home prices can be elevated relative to other parts of the state. Additionally, the NDHFA's "Dakota Capital" program can help with down payment and closing costs for buyers in targeted areas, which may include parts of Williams County.
What are typical down payment requirements for homes in Williston, given the market's history of rapid price fluctuations?
While 20% down is ideal to avoid private mortgage insurance (PMI), many conventional loans are available with 5-10% down. However, due to the market's past volatility, some lenders may be cautious with appraisals, and a larger down payment can strengthen your offer in a competitive situation. FHA loans with 3.5% down are also common, especially for first-time buyers.
How do property taxes in Williams County impact the overall mortgage affordability in Williston?
Williams County property taxes are a significant factor in your monthly payment. While North Dakota has relatively low property tax rates compared to some states, the assessed values in Williston can be high, leading to substantial tax bills. It's crucial to factor this into your debt-to-income ratio calculation, as lenders will include the estimated monthly tax and insurance escrow in your total housing payment.
Is it difficult to get an appraisal that matches the purchase price in Williston's unique market?
Appraisals can sometimes be challenging because the local market has seen periods of rapid appreciation followed by stabilization. Appraisers must find recent, comparable sales ("comps") which can be difficult if inventory is low or highly variable. This is a known issue, and working with a lender experienced in the Williston market is key, as they understand how to navigate these appraisals effectively.
Why Choose a Mortgage Lender in Williston?
Local Market Knowledge
Lenders who understand Williston'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 Williston and get competitive rates on your home loan.