FHA Loan Calculator for North Dakota

FHA Loans in North Dakota

FHA loans require a minimum 3.5% down payment (10% if credit score is 580-619). On North Dakota's median home of $235,000, that's a minimum down payment of $8,200.

FHA Loan Limits in North Dakota

FHA loan limits vary by county and are tied to conforming limits. In most North Dakota counties, the FHA floor limit is $498,257 (2024). High-cost areas like certain counties may qualify for higher limits up to $1,149,825. All North Dakota counties are at the standard conforming limit.

FHA vs Conventional in North Dakota

FHA MIP (Mortgage Insurance Premium) is required regardless of down payment. Conventional loans eliminate PMI at 20% equity. With North Dakota's median home at $235,000, buyers who can put down $47,000 (20%) are better served by conventional financing. FHA makes sense for buyers with limited savings or credit scores below 740.

Closing Costs

North Dakota closing costs average $2,400. North Dakota has minimal transfer taxes. Closing costs are among the lower in the northern plains. Sellers can contribute up to 6% of the purchase price toward FHA buyer closing costs.

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