Getting a conventional loan in North Dakota: numbers, limits and rules

North Dakota buyers using a conventional loan face the same three questions everywhere — how much down, what it costs each month, when mortgage insurance ends — with answers that depend on the state’s $260,000 median and 0.98% effective property tax. This page works them out, then covers the North Dakota rules that touch the loan.

Loan limits: the North Dakota picture

Two numbers decide the question in North Dakota: the 2026 conforming limit of $832,750 and the price you pay. Keep the loan at or under the limit — by price, by down payment, or with a conforming first plus a second lien — and you get Fannie/Freddie pricing and flexibility (3% down programs, automated underwriting, appraisal waivers). At the state median of $260,000, every scenario below is conforming. Every North Dakota county is in the table below; see conforming loan limits and jumbo loans.

County-level loan limits in North Dakota for 2026

No county in North Dakota qualifies as an FHFA high-cost area for 2026, so the table below is flat: $832,750 for one unit in all 53 counties, rising to $1,601,750 for a four-unit property. Limits change every January; these are the figures for mortgages acquired in calendar year 2026.

Source: FHFA, Conforming Loan Limit Values for 2026 (county list, mortgages acquired in calendar year 2026). Limits are for Fannie Mae and Freddie Mac loans; FHA and VA use their own county figures.

Down payment and monthly payment, four ways

Worked at an illustrative 6.5% over 30 years on the $260,000 median. PMI uses order-of-magnitude annual rates by down payment; tax uses North Dakota’s approximate 0.98% effective rate. Your county, score and insurer will move every column.

Under 20% down, conventional loans require mortgage insurance until the loan-to-value falls; the next section gives the ${e.nom} timeline. Payment tables at other amounts and rates: mortgage payment tables.

Cancelling mortgage insurance: the dates

Under the Homeowners Protection Act, the 80% request point and the 78% automatic point are measured against the original value. The scheduled payments on the $247,000 5% down loan reach 80% after about 10 years and 4 months, on the $234,000 10% down loan after about 7 years and 11 months. Fannie Mae and Freddie Mac servicers also cancel on current value — typically 75% LTV after two years or 80% after five — which in a rising North Dakota market can come sooner.

The North Dakota closing: costs and who runs it

North Dakota closings are handled by title or abstract companies, often the same firm that prepared the abstract of title; an attorney is optional and usually appears only to write a title opinion on older abstracts or on farmland. It is a wet-funding state, with lender funds delivered before the mortgage is recorded with the county recorder. Settlement charges are among the lowest in the country, frequently a few hundred dollars.

There is no mortgage tax, intangible tax or real estate transfer tax anywhere in North Dakota; a mortgage is recorded for a flat county recorder fee that scales with page count. The absence of any tax on either the deed or the note is one reason closing costs are so low. Refinances simply pay a new recording fee and a satisfaction fee when the old mortgage is released. North Dakota has no real estate transfer tax and no mortgage tax; only recording fees apply.

North Dakota buyer closing costs typically total 2% to 3% of the price, among the lowest in the country, with title companies or attorneys handling closings.

North Dakota rules that touch a conventional loan

Prepayment. North Dakota statutes do not set out a general ban on prepayment penalties for residential mortgages, and the Department of Financial Institutions treats the question as one of contract subject to federal qualified-mortgage limits. On a conforming loan the question is moot — the agencies do not accept penalties — but check a portfolio or jumbo note.

Spouses and title. North Dakota is a separate-property state; a spouse who is not a borrower is not underwritten.

Homestead. N.D.C.C. § 47-18-01 protects a homestead from general creditors up to a stated value — $100,000 for many years, a figure the Legislature revisits occasionally, so confirm the current number — without an acreage limit inside city limits.

The complete state layer — licensing, predatory-lending limits, disclosures, foreclosure — is on mortgage laws in North Dakota.

Frequently asked questions

What is the conforming loan limit in North Dakota for 2026?

$832,750 for a single-family home, identical across North Dakota’s 53 counties because FHFA found no high-cost area in the state for 2026. A loan above it is jumbo; a conforming first plus a second lien is the usual way to stay under.

When can I cancel PMI on a conventional loan in North Dakota?

Under the federal Homeowners Protection Act you may request cancellation when the balance reaches 80% of the original value and the servicer must cancel automatically at 78%. On a $260,000 North Dakota home bought with 5% down at an illustrative 6.5%, scheduled payments reach 80% after about 10 years and 4 months and 78% after about 11 years and 3 months; extra principal or a new appraisal showing appreciation can move the date up.

Does North Dakota add anything to a conventional loan’s closing costs?

There is no mortgage tax, intangible tax or real estate transfer tax anywhere in North Dakota; a mortgage is recorded for a flat county recorder fee that scales with page count. North Dakota has no real estate transfer tax and no mortgage tax; only recording fees apply. North Dakota buyer closing costs typically total 2% to 3% of the price, among the lowest in the country, with title companies or attorneys handling closings.

Related: Changing jobs before closing on a house: what survives underwriting, Construction-to-permanent loans: one closing, two closings and the 18-month clock, Getting a mortgage on retirement income: what counts and how it is calculated, Buying a home from a family member: gift of equity and the non-arm’s-length file. First home in North Dakota: programs and assistance. Hub: Conventional loan.