Top Mortgage Lenders in Grand Forks, ND

Which mortgage lender in the Grand Forks, ND area typically has the best rates? To help you narrow down where to shop for a mortgage, we provide a data driven ranking of mortgage lenders in the Grand Forks, ND area by interest rate and market share. We use data on all fixed rate mortgages that were closed in the past year to generate our rankings. We do not receive any compensation from lenders and strive to provide the most objective and authoritative ranking possible.

Based on our data, the cheapest overall lender in the Grand Forks, ND area is Gate City Bank, with a “Rate Rank” of 1 and an average “Rate Difference” of -0.09%. This means that Gate City Bank provided a -0.09% lower interest rate for its customers than other lenders in Grand Forks, ND for a similar set of borrowers. Gate City Bank has a market share of 19.4%. It is the most popular lender in the area.

Our detailed rankings of the mortgage lenders for the Grand Forks, ND area is shown in the table below. In the table, we also give our assessment of whether they are, on average, a cheap/expensive lender through a star rating system. You can choose to tailor our ranking table to a specific mortgage type (Conventional/Jumbo/FHA/VA) and purpose (purchase/refinance) through the drop-down menu. For example, Gate City Bank is the cheapest mortgage provider for Conventional and Jumbo mortgages in Grand Forks, ND. If on the other hand, you want lower down payment or credit score requirements, the cheapest FHA mortgage provider is Alerus Financial. The cheapest VA mortgage provider is Barrington Bank & Trust. Nevertheless, to get the lowest rate for your mortgage, we would suggest shopping and negotiating among several of our top ranked lenders for your desired mortgage type and purpose.

Ranking of Mortgage Lenders in Grand Forks, ND

Mortgage Type:
Purchase/Refinance:
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Gate City Bank 1, -0.09% 19.40%
Frandsen Bank & Trust 2, -0.05% 7.09%
Merchants Bank 3, -0.05% 2.91%
Florida Capital Bank National Association 4, -0.01% 3.51%
Bremer Bank 5, -0.01% 10.82%
Us Bank 6, 0.00% 4.78%
First Community Credit Union 7, 0.00% 2.76%
Ark-La-Tex Financial Services 8, 0.01% 2.99%
Alerus Financial 9, 0.01% 9.55%
Barrington Bank & Trust 10, 0.02% 7.24%
Usaa Federal Savings Bank 11, 0.02% 2.91%
Caliber Home Loans Inc 12, 0.02% 2.39%
Choice Financial Group 13, 0.03% 2.54%
Wells Fargo Bank 14, 0.05% 4.63%
TCF National Bank 15, 0.05% 5.82%
Quicken Loans 16, 0.12% 10.67%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Gate City Bank 1, -0.07% 21.04%
Merchants Bank 2, -0.03% 2.36%
Alerus Financial 3, -0.03% 8.75%
Us Bank 4, -0.02% 4.61%
Frandsen Bank & Trust 5, -0.02% 5.79%
Florida Capital Bank National Association 6, -0.02% 4.49%
Bremer Bank 7, -0.01% 10.99%
First Community Credit Union 8, -0.00% 2.60%
Ark-La-Tex Financial Services 9, 0.01% 4.02%
Barrington Bank & Trust 10, 0.02% 9.81%
Caliber Home Loans Inc 11, 0.03% 2.96%
Usaa Federal Savings Bank 12, 0.03% 3.78%
Wells Fargo Bank 13, 0.04% 4.37%
TCF National Bank 14, 0.06% 8.04%
Choice Financial Group 15, 0.09% 2.25%
Quicken Loans 16, 0.14% 4.14%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Gate City Bank 1, -0.13% 16.60%
Frandsen Bank & Trust 2, -0.09% 9.31%
Merchants Bank 3, -0.06% 3.85%
Choice Financial Group 4, -0.03% 3.04%
Usaa Federal Savings Bank 5, -0.01% 1.42%
Bremer Bank 6, -0.01% 10.53%
TCF National Bank 7, -0.00% 2.02%
First Community Credit Union 8, 0.00% 3.04%
Ark-La-Tex Financial Services 9, 0.01% 1.21%
Caliber Home Loans Inc 10, 0.01% 1.42%
Barrington Bank & Trust 11, 0.02% 2.83%
Florida Capital Bank National Association 12, 0.02% 1.82%
Us Bank 13, 0.03% 5.06%
Wells Fargo Bank 14, 0.06% 5.06%
Alerus Financial 15, 0.06% 10.93%
Quicken Loans 16, 0.10% 21.86%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Gate City Bank 1, -0.10% 22.18%
Frandsen Bank & Trust 2, -0.05% 9.16%
Merchants Bank 3, -0.04% 3.66%
Bremer Bank 4, -0.01% 12.73%
Us Bank 5, 0.00% 5.21%
First Community Credit Union 6, 0.00% 2.99%
Ark-La-Tex Financial Services 7, 0.01% 1.35%
Alerus Financial 8, 0.02% 10.80%
Usaa Federal Savings Bank 9, 0.03% 0.48%
Barrington Bank & Trust 10, 0.03% 6.85%
Choice Financial Group 11, 0.04% 3.28%
Florida Capital Bank National Association 12, 0.04% 2.12%
TCF National Bank 13, 0.05% 3.38%
Wells Fargo Bank 14, 0.06% 5.50%
Caliber Home Loans Inc 15, 0.06% 1.45%
Quicken Loans 16, 0.17% 8.87%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Gate City Bank 1, -0.07% 24.28%
Merchants Bank 2, -0.03% 3.19%
Us Bank 3, -0.02% 5.59%
Alerus Financial 4, -0.02% 9.58%
Frandsen Bank & Trust 5, -0.01% 7.83%
First Community Credit Union 6, -0.00% 2.56%
Bremer Bank 7, -0.00% 13.90%
Ark-La-Tex Financial Services 8, 0.02% 1.92%
Barrington Bank & Trust 9, 0.04% 9.42%
Florida Capital Bank National Association 10, 0.05% 2.40%
Wells Fargo Bank 11, 0.05% 5.43%
Usaa Federal Savings Bank 12, 0.05% 0.48%
TCF National Bank 13, 0.07% 4.79%
Caliber Home Loans Inc 14, 0.07% 1.76%
Choice Financial Group 15, 0.09% 3.04%
Quicken Loans 16, 0.18% 3.83%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Gate City Bank 1, -0.14% 18.98%
Frandsen Bank & Trust 2, -0.09% 11.19%
Merchants Bank 3, -0.07% 4.38%
Choice Financial Group 4, -0.03% 3.65%
Bremer Bank 5, -0.01% 10.95%
TCF National Bank 6, 0.00% 1.22%
Usaa Federal Savings Bank 7, 0.00% 0.49%
First Community Credit Union 8, 0.01% 3.65%
Ark-La-Tex Financial Services 9, 0.01% 0.49%
Barrington Bank & Trust 10, 0.02% 2.92%
Caliber Home Loans Inc 11, 0.02% 0.97%
Florida Capital Bank National Association 12, 0.03% 1.70%
Us Bank 13, 0.04% 4.62%
Wells Fargo Bank 14, 0.06% 5.60%
Alerus Financial 15, 0.07% 12.65%
Quicken Loans 16, 0.16% 16.55%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Alerus Financial 1, -0.08% 6.88%
Florida Capital Bank National Association 2, -0.06% 13.12%
Barrington Bank & Trust 3, -0.02% 11.25%
Caliber Home Loans Inc 4, -0.01% 6.25%
Quicken Loans 5, -0.01% 17.50%
Ark-La-Tex Financial Services 6, 0.01% 8.12%
Us Bank 7, 0.01% 1.25%
Gate City Bank 8, 0.02% 10.00%
First Community Credit Union 9, 0.02% 3.75%
Bremer Bank 10, 0.03% 1.25%
Wells Fargo Bank 11, 0.03% 0.62%
TCF National Bank 12, 0.07% 20.00%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Alerus Financial 1, -0.09% 8.46%
Florida Capital Bank National Association 2, -0.07% 14.62%
Barrington Bank & Trust 3, -0.03% 13.08%
Caliber Home Loans Inc 4, -0.01% 7.69%
Us Bank 5, 0.00% 0.77%
Ark-La-Tex Financial Services 6, 0.01% 9.23%
Gate City Bank 7, 0.01% 12.31%
First Community Credit Union 8, 0.01% 4.62%
Bremer Bank 9, 0.02% 1.54%
Quicken Loans 10, 0.06% 5.38%
TCF National Bank 11, 0.07% 22.31%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Quicken Loans 1, -0.01% 70.00%
Florida Capital Bank National Association 2, 0.02% 6.67%
TCF National Bank 3, 0.03% 10.00%
Barrington Bank & Trust 4, 0.03% 3.33%
Ark-La-Tex Financial Services 5, 0.04% 3.33%
Us Bank 6, 0.04% 3.33%
Wells Fargo Bank 7, 0.04% 3.33%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Gate City Bank 1, -0.01% 10.00%
Bremer Bank 2, -0.01% 30.00%
Us Bank 3, -0.00% 20.00%
Alerus Financial 4, 0.00% 10.00%
Wells Fargo Bank 5, 0.01% 20.00%
Barrington Bank & Trust 6, 0.01% 10.00%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Us Bank 1, -0.01% 33.33%
Alerus Financial 2, 0.00% 33.33%
Wells Fargo Bank 3, 0.01% 33.33%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Gate City Bank 1, -0.01% 14.29%
Bremer Bank 2, -0.01% 42.86%
Us Bank 3, 0.00% 14.29%
Wells Fargo Bank 4, 0.01% 14.29%
Barrington Bank & Trust 5, 0.01% 14.29%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Barrington Bank & Trust 1, -0.03% 5.26%
Gate City Bank 2, -0.02% 9.77%
Alerus Financial 3, -0.02% 3.01%
Florida Capital Bank National Association 4, -0.02% 3.01%
Ark-La-Tex Financial Services 5, -0.02% 9.77%
TCF National Bank 6, -0.01% 8.27%
Merchants Bank 7, -0.01% 0.75%
Caliber Home Loans Inc 8, -0.01% 5.26%
Wells Fargo Bank 9, -0.01% 1.50%
Us Bank 10, 0.00% 4.51%
Usaa Federal Savings Bank 11, 0.00% 25.56%
Bremer Bank 12, 0.01% 6.02%
Quicken Loans 13, 0.04% 17.29%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Gate City Bank 1, -0.02% 11.49%
Barrington Bank & Trust 2, -0.02% 8.05%
Ark-La-Tex Financial Services 3, -0.02% 11.49%
Florida Capital Bank National Association 4, -0.01% 4.60%
Alerus Financial 5, -0.01% 2.30%
TCF National Bank 6, -0.01% 10.34%
Wells Fargo Bank 7, -0.00% 2.30%
Us Bank 8, 0.00% 2.30%
Caliber Home Loans Inc 9, 0.00% 4.60%
Usaa Federal Savings Bank 10, 0.01% 33.33%
Bremer Bank 11, 0.02% 4.60%
Quicken Loans 12, 0.06% 4.60%
Lender Name Rate Rank, Rate Difference Rate Rating Market Share
Alerus Financial 1, -0.04% 4.35%
Usaa Federal Savings Bank 2, -0.03% 10.87%
TCF National Bank 3, -0.03% 4.35%
Caliber Home Loans Inc 4, -0.03% 6.52%
Merchants Bank 5, -0.02% 2.17%
Ark-La-Tex Financial Services 6, -0.02% 6.52%
Gate City Bank 7, -0.01% 6.52%
Bremer Bank 8, -0.01% 8.70%
Us Bank 9, -0.00% 8.70%
Quicken Loans 10, 0.03% 41.30%

* Data is compiled for the Grand Forks, ND commuting zone area, which comprises of counties of Marshall County, MN, Pennington County, MN, Polk County, MN, Red Lake County, MN, Grand Forks County, ND, Nelson County, ND, Steele County, ND, and Traill County, ND. This includes cities/towns/communities of Grand Forks, ND as well as East Grand Forks, MN, Thief River Falls, MN, Crookston, MN, Alvarado, MN, McIntosh, MN, Larimore, ND, Manvel, ND, Hillsboro, ND, Mayville, ND, Hatton, ND, Nielsville, MN, Fertile, MN, Northwood, ND, Stephen, MN, Lengby, MN, Lakota, ND, Galesburg, ND, St. Hilaire, MN, Holt, MN, Strandquist, MN, Red Lake Falls, MN, Oklee, MN, and Finley, ND. Lenders must have made at least 30 loans in the area to be included. Source for the data comes from Federal Financial Institutions Examination Council (FFIEC). Rate Difference (the average difference of interest rates relative to those of other lenders) were computed by subtracting the rate at origination from the average predicted rate based on the MSA, borrower LTV, DTI, Loan Amount, Loan Type, and Loan Purpose, and then regularized based on a Bayesian approach to account for smaller sample sizes. Above-average mortgage closing costs were then added to the rate difference at a rate of +0.15/point. Star ratings were determined in intervals of 0.10% in rate difference per half star.

Mortgage Lender Rankings for Other Cities

This page ranks the top mortgage lenders in the Grand Forks, ND area. For mortgage lender rankings of other cities, click here.