NMHL Mortgage Lending
Mortgage Lender in Minot, ND
Local expertise and competitive rates for Minot homebuyers.
Minot Housing Market Overview
Minot is the Magic City of north-central North Dakota, home to Minot Air Force Base and a significant energy industry presence. The city serves as the regional hub for a vast agricultural area and offers affordable Northern Plains living.
Minot Neighborhoods
Popular areas for homebuyers in Minot, ND
ZIP Codes We Serve in Minot
Mortgage lending available in these Minot ZIP codes
See What You Qualify For
Takes about 5 minutes. No obligation. No credit check until you are ready.
Your Local Mortgage Partner
We understand the local market dynamics that affect your home purchase. Our team provides personalized loan options based on local property values and regulations.
Available Loan Programs in Minot
Explore mortgage options tailored to Minot homebuyers
First Time Home Buyer Mortgages
Special loan programs helping newcomers purchase their first home with favorable terms and support.
Learn MoreRefi-Shield
Learn MoreAdjustable-Rate Mortgage (ARM)
Financial flexibility and optimal rates with an Adjustable-Rate Mortgage – Your key to a dynamic homeownership journey
Learn MoreHigh-Value Appraisal Program
Learn MoreInterest Only Mortgages
Interest-only mortgages allow borrowers to pay only the interest for a set period, reducing initial monthly payments.
Learn MoreHome Equity Loans
Access the equity in your home with a fixed-rate home equity loan. Get a lump sum with predictable monthly payments for ...
Learn MoreFHA Loans
Federal Housing Administration (FHA) loans are government-backed mortgages designed to help first-time homebuyers and th...
Learn MoreFixed-Rate Mortgage
Lock in your interest rate for the life of the loan with a fixed-rate mortgage. Predictable monthly payments make budget...
Learn MoreBridge Loans
Bridge the gap between buying your new home and selling your current one. Short-term financing that gives you the flexib...
Learn MoreVA Loans
VA loans are a benefit earned by veterans, active-duty service members, and eligible surviving spouses. Backed by the De...
Learn MoreConventional Loans
Conventional loans are not backed by government agencies and typically offer the most flexibility for qualified borrower...
Learn MoreITIN Loans
Purchase a home using your Individual Taxpayer Identification Number (ITIN) without a Social Security Number. NMHL is co...
Learn MoreJumbo Loans
Jumbo loans exceed conforming loan limits and are designed for luxury properties and homes in high-cost areas. With comp...
Learn MoreDSCR Investment Loans
Debt Service Coverage Ratio (DSCR) loans qualify based on rental income rather than personal income. Perfect for real es...
Learn MoreBank Statement Loans
Bank statement loans are designed for self-employed borrowers and business owners who have difficulty documenting income...
Learn MoreReverse Mortgages
For homeowners 62 and older, reverse mortgages allow you to access your home equity without monthly payments. Stay in yo...
Learn MoreUSDA Mortgages
USDA Rural Development loans help moderate-income buyers purchase homes in eligible rural and suburban areas. With no do...
Learn MoreHeloc
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Understanding Minot's Housing Market
Minot's housing market is influenced by its strong economy, driven by the energy industry, agriculture, and the presence of Minot Air Force Base. The median home price is $240,000, and the market has stabilized after the oil boom. This makes it an attractive time for homebuyers to enter the market.
Popular neighborhoods include South Hill, known for its desirable residential areas, and Southeast Minot, which features newer developments. Understanding these local dynamics is key to making informed decisions in the Minot housing market.
NMHL's local expertise can help you navigate Minot's housing market and find the right mortgage solution for your needs.
Mortgage Options for Minot Residents
- VA Loans: Given Minot's significant military presence, VA loans are a popular option. NMHL is experienced in handling VA loans and can guide you through the process.
- First-Time Homebuyer Programs: North Dakota offers several programs to assist first-time homebuyers, including down payment assistance. NMHL can help you explore these options.
- Bad Credit Mortgage Solutions: For those with less-than-perfect credit, NMHL offers mortgage solutions tailored to your financial situation.
Get pre-approved today with NMHL's simple online application.
Property Taxes and Insurance in Minot
Minot's average property tax rate is 0.97%, which is an important factor to consider when budgeting for homeownership. Additionally, homebuyers should factor in insurance costs. NMHL can provide guidance on how these costs impact your mortgage payments and overall financial planning.
Understanding all the costs associated with homeownership can help you make a more informed decision.
Why Choose NMHL for Your Minot Mortgage?
At NMHL, we pride ourselves on our ability to serve underserved borrowers, including those with bad credit, self-employed individuals, and veterans. Our knowledge of local programs and mortgage options makes us the ideal partner for your homebuying journey in Minot. We offer personalized service and a range of mortgage products to fit your needs.
Our commitment to helping Minot residents achieve their homeownership goals is unwavering. Whether you're a first-time homebuyer or looking to refinance, NMHL is here to help.
Contact NMHL today to start your mortgage journey with a lender who understands Minot's unique market.
Frequently Asked Questions
Minot's neighborhoods offer a range of living options. South Hill is known for its desirable residential areas, while Southeast Minot features newer developments. North Hill offers established homes, and areas near the Roosevelt Park Zoo provide family-friendly living environments. Each neighborhood has its unique character and advantages.
Minot's average property tax rate is 0.97%. This means that on a $240,000 home, the annual property tax would be approximately $2,328. Understanding property taxes is crucial for homebuyers to budget accurately for their homeownership costs.
Yes, North Dakota offers several programs for first-time homebuyers, including down payment assistance and favorable loan terms. NMHL can help guide you through these programs and determine which ones you may be eligible for.
While traditional lenders may have strict credit score requirements, NMHL specializes in serving borrowers with less-than-perfect credit. We offer various mortgage options and can work with you to find a solution that fits your financial situation.
The Bakken oil boom significantly impacted Minot's housing market, driving prices up and creating shortages. As the market has normalized, prices have stabilized, offering better value than during the peak boom years. This stability can make it a good time to consider purchasing a home.
Minot is served by the Minot Public Schools district, which includes several highly-rated schools. The quality of local schools can significantly impact home values, making this an important consideration for families.
Related Resources
Ready to Buy in Minot?
Let NMHL help you navigate the Minot housing market with expert guidance and competitive rates.