Areas We Serve

We serve borrowers across North Dakota. Whether purchasing property in bustling cities like Fargo or Bismarck or refinancing in quieter towns off the beaten path like Hettinger, we help you secure the ideal loan, regardless of your location. Some of the North Dakota cities we serve include:

  • Fargo
  • Bismarck
  • Grand Forks
  • Minot
  • West Fargo
  • Mandan
  • Dickinson
  • Williston
  • Wahpeton

Mortgage Options in North Dakota

Griffin Funding offers an array of North Dakota mortgage options tailored for every type of borrower. Whether you’re a retiree, self-employed entrepreneur, or a regular W2 employee, we offer everything from conventional to government-backed and non-QM mortgage loans designed to fit your unique circumstances. Explore our North Dakota mortgage loan options:

  • VA loans: VA loans come with zero down payment requirements for eligible former and current military members and surviving spouses, allowing you to finance 100% of the selling price.
  • Bank statement loans: Bank statement loans are a popular self-employed mortgage to help entrepreneurs, business owners, and retired borrowers qualify for a home loan using 12 to 24 months of bank statements as proof of income instead of pay stubs or W-2s.
  • DSCR loans: Debt service coverage ratio (DSCR) loans are designed only for investors and allow them to qualify based on the rental property’s ability to earn enough income to cover the cost of the mortgage.
  • Conventional loans: Conventional loans adhere to guidelines set by Fannie Mae and Freddie Mac. They typically come with slightly stricter requirements but offer competitive interest rates.
  • Asset-based loans: Asset-based loans count your financial assets as income. You can use your retirement accounts, investments, bank accounts, and CDs to qualify for these loans.
  • USDA loans: United States Department of Agriculture (USDA) home loans assist borrowers who want to purchase property in eligible rural areas. With USDA loans, you can expect low-to-no down payment and lower credit score requirements. However, you must fall within set income limits.
  • FHA loans: An FHA loan is a government-backed mortgage that has low down payment requirements and flexible credit requirements compared to a traditional mortgage.
  • ITIN loans: If you’re a foreign national or immigrant who doesn’t have a valid Social Security number, consider taking out an ITIN loan to secure financing and purchase your next home.
  • Home equity loans: Cash in on the equity you’ve accrued in your home with a home equity loan. You can use the funds from a HELOAN for virtually anything, from consolidating debt to funding home renovations and more.

North Dakota Mortgage Loan Rates

Several key factors influence North Dakota mortgage rates. When the economy is doing well, mortgage rates might rise because there’s more demand for loans. Conversely, ND mortgage rates may decrease during economic downturns as demand weakens. Additionally, when the Federal Reserve raises interest rates, mortgage rates tend to follow suit.

At the same time, your credit score can determine your particular mortgage rate. North Dakota mortgage lenders use your credit score to assess your creditworthiness, with higher scores leading to lower interest rates.

Additionally, shorter loan terms often come with lower rates because lenders assume less risk over shorter periods. The size of your down payment is another factor; a larger down payment usually results in a lower interest rate because it reduces the lender’s overall risk.

Additionally, your loan type can influence your North Dakota mortgage loan rate. Fixed-rate mortgages offer stable rates throughout the loan term, while adjustable-rate mortgages (ARMs) may start with lower rates and adjust over time.

How to Buy a Home in North Dakota

Becoming a homeowner in North Dakota with a mortgage loan from Griffin Funding is simple! Here’s how to do it:

  1. Choose your loan type: Explore the various loan options available through Griffin Funding, from VA loans to conventional loans and beyond. Each loan type has its own eligibility requirements and benefits, so choose the one that best fits your needs and financial situation.
  2. Get pre-approved: Once you’ve selected a loan type, you can get pre-approved for a home loan by submitting your financial documents for review. Mortgage pre-approval tells you how much you might be able to borrow and helps you position yourself as a serious buyer when making offers on homes.
  3. Find a home: Start searching for your dream home! You can work with a real estate agent to find homes or properties that meet your criteria.
  4. Make an offer: Once you find a property you like, you’ll work with your realtor to submit an offer to the seller. If your offer is accepted, move to the next step.
  5. Complete the mortgage application: Once the seller accepts your offer, you’ll complete the mortgage application. We’ll review your loan application and supporting documentation in a process called underwriting. During this time, we assess your financial profile, the property’s appraisal, and other relevant factors to ensure you meet our requirements.
  6. Closing: After we approve your loan, you’ll attend a closing meeting to sign the paperwork and finalize the loan.
  7. Move in & make payments: You’ll receive monthly mortgage statements outlining your payment amount, due date, and other important information.

Programs for First-Time Home Buyers in North Dakota

If you’re a North Dakota first-time home buyer, consider these programs tailored specifically for first-time owners to help make the process easier and more affordable:

  • FirstHome Program: Offered by the North Dakota Housing Financing Agency (NDHFA), the FirstHome Program provides affordable home loans with competitive interest rates and down payment assistance options for qualified borrowers.
  • HomeAccess Program: Designed for low-to-moderate income buyers of all types (not just first-time homeowners), the HomeAccess Program offers affordable mortgage loans with flexible terms and down payment assistance options.
  • Roots Program: This program offers down payment and closing cost assistance to eligible first-time buyers purchasing homes in designated areas of North Dakota.
  • Down payment and closing assistance: Down payment and closing assistance (DCA) provides financial assistance to buyers to help cover down payment and closing costs.

Lock in Your Mortgage Rate in North Dakota

Apply for mortgage pre-approval to lock in your interest rate. Our tailored mortgage solutions, competitive interest rates, and flexible terms make your dreams of homeownership a reality. Plus, with the Griffin Gold app, you can manage your mortgage process and use valuable tools like calculators to estimate monthly mortgage payments and determine how much home you can afford.

Contact us or apply for a North Dakota home loan to start the mortgage process today.