Minot, ND Metro Area Mortgage Lenders & HMDA Data, 2024
In 2024, lenders reported 2,183 mortgage applications in Minot, ND metro area totaling $486.9 million. The average application was for $223,039, and applicants reported an average income of $123,000. 63% of applications resulted in an originated loan and 10% were denied. The most active lender was Gate City Bank, with 312 applications, followed by Town and Country Credit Union and First International Bank & Trust.
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| Years | 2025 2024 |
| Total Number of Mortgage Applications | 2,183 |
| Total Mortgage Loan Application Amount | $486,895,000 |
| Average Mortgage Loan Application Amount | $223,039 |
| Highest Mortgage Loan Application Amount | $5,425,000 |
| Average Applicant Income | $123,000 |
| Highest Applicant Income | $5,389,000 |
Top Mortgage Lenders in Minot, ND Metro Area (2024)
Ranked by the number of mortgage applications each lender reported in Minot, ND metro area in 2024.
| # | Mortgage Lender | Mortgage Applications | Total Dollar Amount | Average Loan Amount | Average Applicant Income |
|---|---|---|---|---|---|
| 1 | Gate City Bank Fargo, ND |
312 | $49,310,000 | $158,000 | $118,000 |
| 2 | Town and Country Credit Union Minot, ND |
264 | $55,280,000 | $209,000 | $170,000 |
| 3 | First International Bank & Trust Minot, ND |
186 | $42,630,000 | $229,000 | $133,000 |
| 4 | Ark-La-Tex Financial Services LLC Plano, TX |
111 | $29,825,000 | $268,000 | $113,000 |
| 5 | Mortgage Research Center Columbia, MO |
109 | $28,255,000 | $259,000 | $94,000 |
| 6 | PennyMac Loan Services LLC Westlake Village, CA |
100 | $26,060,000 | $260,000 | $89,000 |
| 7 | Aspire Community Federal Credit Union Minot, ND |
97 | $15,095,000 | $155,000 | $116,000 |
| 8 | First Western Bank & Trust Minot, ND |
93 | $21,225,000 | $228,000 | $130,000 |
| 9 | Guaranteed Rate, Inc. Chicago, IL |
80 | $18,990,000 | $237,000 | $91,000 |
| 10 | Freedom Mortgage Corporation Boca Raton, FL |
66 | $20,630,000 | $312,000 | $110,000 |
The tables below break down 2024 mortgage applications in Minot, ND metro area by loan purpose, applicant race, loan type, outcome and denial reason. Click a column heading to sort.
Mortgage Loan Application Detail Totals for Minot, ND in 2024
Loan Purpose |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Home Purchase | 1,410 | $364,480,000 | $258,000 | $5,425,000 | $121,000 | $5,389,000 |
| Cash-out Refinancing | 260 | $45,150,000 | $173,000 | $3,365,000 | $122,000 | $2,083,000 |
| Refinancing | 236 | $56,140,000 | $237,000 | $915,000 | $137,000 | $850,000 |
| Other Purpose | 145 | $12,775,000 | $88,000 | $905,000 | $127,000 | $1,500,000 |
| Home Improvement | 131 | $8,255,000 | $63,000 | $175,000 | $129,000 | $358,000 |
| Not Applicable | 1 | $95,000 | $95,000 | $95,000 | $0 | $0 |
Applicant Race |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| White | 1,376 | $296,780,000 | $215,000 | $1,755,000 | $119,000 | $2,083,000 |
| Not applicable | 282 | $85,270,000 | $302,000 | $5,425,000 | $159,000 | $245,000 |
| Not Provided | 262 | $45,290,000 | $172,000 | $765,000 | $164,000 | $5,389,000 |
| Hispanic | 113 | $24,375,000 | $215,000 | $445,000 | $96,000 | $301,000 |
| Black or African American | 75 | $16,795,000 | $223,000 | $495,000 | $93,000 | $326,000 |
| Asian | 39 | $9,865,000 | $252,000 | $465,000 | $140,000 | $1,173,000 |
| American Indian or Alaskan Native | 31 | $7,125,000 | $229,000 | $385,000 | $102,000 | $450,000 |
| Native Hawaiian or Other Pacific Islander | 5 | $1,395,000 | $279,000 | $335,000 | $130,000 | $215,000 |
Loan Type |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Conventional (any loan other than FHA, VA, FSA, or RHS loans) | 1,213 | $232,625,000 | $191,000 | $5,425,000 | $140,000 | $5,389,000 |
| VA-guaranteed (Veterans Administration) | 643 | $177,115,000 | $275,000 | $705,000 | $99,000 | $858,000 |
| FHA-insured (Federal Housing Administration) | 316 | $75,250,000 | $238,000 | $505,000 | $95,000 | $1,925,000 |
| FSA/RHS (Farm Service Agency or Rural Housing Service) | 11 | $1,905,000 | $173,000 | $295,000 | $77,000 | $123,000 |
Outcome |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Loan Originated | 1,367 | $311,335,000 | $227,000 | $5,425,000 | $121,000 | $2,083,000 |
| Application Withdrawn By Applicant | 266 | $63,020,000 | $236,000 | $1,755,000 | $162,000 | $5,389,000 |
| Loan Purchased By The Institution | 232 | $62,200,000 | $268,000 | $675,000 | $123,000 | $245,000 |
| Application Denied By Financial Institution | 216 | $31,970,000 | $148,000 | $1,115,000 | $96,000 | $1,119,000 |
| File Closed For Incompleteness | 52 | $9,010,000 | $173,000 | $585,000 | $134,000 | $1,500,000 |
| Application Approved But Not Accepted | 43 | $7,845,000 | $182,000 | $455,000 | $107,000 | $198,000 |
| Preapproval Denied by Financial Institution | 7 | $1,515,000 | $216,000 | $355,000 | $55,000 | $96,000 |
| Preapproval Approved but not Accepted | 0 | $0 | $0 | $0 | $0 | $0 |
Denial Reason |
Total Number of Mortgage Applications | Total Dollar Amount of Mortgage Loan Applications | Average Mortgage Loan Amount | Highest Mortgage Loan Amount | Average Applicant Income | Highest Applicant Income |
|---|---|---|---|---|---|---|
| Not applicable | 1,920 | $444,660,000 | $231,000 | $5,425,000 | $127,000 | $5,389,000 |
| Debt-To-Income Ratio | 101 | $17,955,000 | $177,000 | $805,000 | $91,000 | $780,000 |
| Credit History | 65 | $7,355,000 | $113,000 | $395,000 | $98,000 | $318,000 |
| Collateral | 50 | $8,910,000 | $178,000 | $1,115,000 | $120,000 | $1,119,000 |
| Credit Application Incomplete | 24 | $3,110,000 | $129,000 | $395,000 | $94,000 | $198,000 |
| Other | 11 | $1,735,000 | $157,000 | $365,000 | $116,000 | $350,000 |
| Insufficient Cash (Downpayment, Closing Cost) | 5 | $1,115,000 | $223,000 | $405,000 | $73,000 | $144,000 |
| Unverifiable Information | 4 | $1,220,000 | $305,000 | $605,000 | $87,000 | $141,000 |
| Employment History | 3 | $835,000 | $278,000 | $345,000 | $61,000 | $73,000 |
| Mortgage Insurance Denied | 0 | $0 | $0 | $0 | $0 | $0 |
About this data: figures come from the Home Mortgage Disclosure Act (HMDA) loan application records that lenders file with the FFIEC each year, and count every application (approved, denied, withdrawn or purchased), not just closed loans. Applications reported at $100 million or more are left out of these totals.
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