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, MortgageWaldo.com provides an objective and data driven ranking of mortgage lenders operating in the Grand Forks, ND area by interest rate and market share. We maintain our independence by not accepting any compensation from the mortgage lenders we rank, and use data on all fixed rate mortgages that were closed in the past year to generate our rankings.
Going by historical data, the best mortgage lender in the Grand Forks, ND area in terms of interest rate is Gate City Bank, with an average “Rate Difference” of -0.09%. This means that, comparing similar borrowers, Gate City Bank provided a -0.09% lower interest rate for its customers than other lenders in the area. Gate City Bank has a market share of 19.5%. It is the most popular lender in the Grand Forks, ND area.
Our detailed ranking of mortgage lenders in 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, going by historical data, 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. Note that as a consumer advocate we always recommend shopping among several of our top ranked lenders in order to get the best rates and fees.
Ranking of Mortgage Lenders in Grand Forks, ND
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Gate City Bank | -0.09% | 19.46% | |
| Frandsen Bank & Trust | -0.05% | 7.11% | |
| Merchants Bank | -0.04% | 2.92% | |
| Florida Capital Bank | -0.01% | 3.52% | |
| Bremer Bank | -0.01% | 10.78% | |
| US Bank | 0.00% | 4.79% | |
| First Community Credit Union | 0.00% | 2.77% | |
| Benchmark | 0.01% | 2.92% | |
| Alerus Financial | 0.01% | 9.58% | |
| Barrington Bank & Trust | 0.02% | 7.26% | |
| USAA | 0.02% | 2.92% | |
| Caliber Home Loans | 0.03% | 2.40% | |
| Choice Financial Group | 0.04% | 2.54% | |
| Wells Fargo Bank | 0.05% | 4.64% | |
| TCF Bank | 0.05% | 5.84% | |
| Quicken Loans | 0.11% | 10.55% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Gate City Bank | -0.07% | 21.07% | |
| Merchants Bank | -0.03% | 2.37% | |
| Alerus Financial | -0.03% | 8.76% | |
| US Bank | -0.02% | 4.62% | |
| Frandsen Bank & Trust | -0.02% | 5.80% | |
| Florida Capital Bank | -0.02% | 4.50% | |
| Bremer Bank | -0.01% | 11.01% | |
| First Community Credit Union | -0.00% | 2.60% | |
| Benchmark | 0.01% | 3.91% | |
| Barrington Bank & Trust | 0.02% | 9.82% | |
| Caliber Home Loans | 0.03% | 2.96% | |
| USAA | 0.03% | 3.79% | |
| Wells Fargo Bank | 0.04% | 4.38% | |
| TCF Bank | 0.06% | 8.05% | |
| Choice Financial Group | 0.09% | 2.25% | |
| Quicken Loans | 0.14% | 4.14% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Gate City Bank | -0.13% | 16.70% | |
| Frandsen Bank & Trust | -0.09% | 9.37% | |
| Merchants Bank | -0.06% | 3.87% | |
| Choice Financial Group | -0.03% | 3.05% | |
| USAA | -0.01% | 1.43% | |
| Bremer Bank | -0.01% | 10.39% | |
| TCF Bank | -0.00% | 2.04% | |
| First Community Credit Union | 0.01% | 3.05% | |
| Benchmark | 0.01% | 1.22% | |
| Caliber Home Loans | 0.01% | 1.43% | |
| Barrington Bank & Trust | 0.02% | 2.85% | |
| Florida Capital Bank | 0.02% | 1.83% | |
| US Bank | 0.04% | 5.09% | |
| Wells Fargo Bank | 0.06% | 5.09% | |
| Alerus Financial | 0.07% | 11.00% | |
| Quicken Loans | 0.09% | 21.59% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Gate City Bank | -0.10% | 22.22% | |
| Frandsen Bank & Trust | -0.05% | 9.18% | |
| Merchants Bank | -0.04% | 3.67% | |
| Bremer Bank | -0.01% | 12.75% | |
| US Bank | 0.00% | 5.22% | |
| First Community Credit Union | 0.00% | 3.00% | |
| Benchmark | 0.01% | 1.35% | |
| Alerus Financial | 0.02% | 10.82% | |
| USAA | 0.03% | 0.48% | |
| Barrington Bank & Trust | 0.03% | 6.86% | |
| Choice Financial Group | 0.04% | 3.29% | |
| Florida Capital Bank | 0.04% | 2.13% | |
| TCF Bank | 0.05% | 3.38% | |
| Caliber Home Loans | 0.06% | 1.45% | |
| Wells Fargo Bank | 0.06% | 5.51% | |
| Quicken Loans | 0.16% | 8.70% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Gate City Bank | -0.07% | 24.28% | |
| Merchants Bank | -0.03% | 3.19% | |
| US Bank | -0.02% | 5.59% | |
| Alerus Financial | -0.02% | 9.58% | |
| Frandsen Bank & Trust | -0.01% | 7.83% | |
| First Community Credit Union | -0.00% | 2.56% | |
| Bremer Bank | -0.00% | 13.90% | |
| Benchmark | 0.02% | 1.92% | |
| Barrington Bank & Trust | 0.04% | 9.42% | |
| Florida Capital Bank | 0.05% | 2.40% | |
| Wells Fargo Bank | 0.05% | 5.43% | |
| USAA | 0.05% | 0.48% | |
| TCF Bank | 0.07% | 4.79% | |
| Caliber Home Loans | 0.07% | 1.76% | |
| Choice Financial Group | 0.09% | 3.04% | |
| Quicken Loans | 0.18% | 3.83% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Gate City Bank | -0.14% | 19.07% | |
| Frandsen Bank & Trust | -0.09% | 11.25% | |
| Merchants Bank | -0.06% | 4.40% | |
| Choice Financial Group | -0.03% | 3.67% | |
| Bremer Bank | -0.01% | 11.00% | |
| TCF Bank | 0.00% | 1.22% | |
| USAA | 0.00% | 0.49% | |
| First Community Credit Union | 0.01% | 3.67% | |
| Benchmark | 0.01% | 0.49% | |
| Barrington Bank & Trust | 0.02% | 2.93% | |
| Caliber Home Loans | 0.02% | 0.98% | |
| Florida Capital Bank | 0.03% | 1.71% | |
| US Bank | 0.04% | 4.65% | |
| Wells Fargo Bank | 0.07% | 5.62% | |
| Alerus Financial | 0.07% | 12.71% | |
| Quicken Loans | 0.15% | 16.14% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Alerus Financial | -0.08% | 6.88% | |
| Florida Capital Bank | -0.06% | 13.12% | |
| Barrington Bank & Trust | -0.02% | 11.25% | |
| Caliber Home Loans | -0.01% | 6.25% | |
| Quicken Loans | -0.01% | 17.50% | |
| Benchmark | 0.01% | 8.12% | |
| US Bank | 0.01% | 1.25% | |
| Gate City Bank | 0.02% | 10.00% | |
| First Community Credit Union | 0.02% | 3.75% | |
| Bremer Bank | 0.03% | 1.25% | |
| Wells Fargo Bank | 0.03% | 0.62% | |
| TCF Bank | 0.07% | 20.00% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Alerus Financial | -0.09% | 8.46% | |
| Florida Capital Bank | -0.07% | 14.62% | |
| Barrington Bank & Trust | -0.03% | 13.08% | |
| Caliber Home Loans | -0.01% | 7.69% | |
| US Bank | 0.00% | 0.77% | |
| Benchmark | 0.01% | 9.23% | |
| Gate City Bank | 0.01% | 12.31% | |
| First Community Credit Union | 0.01% | 4.62% | |
| Bremer Bank | 0.02% | 1.54% | |
| Quicken Loans | 0.06% | 5.38% | |
| TCF Bank | 0.07% | 22.31% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Quicken Loans | -0.01% | 70.00% | |
| Florida Capital Bank | 0.02% | 6.67% | |
| TCF Bank | 0.03% | 10.00% | |
| Barrington Bank & Trust | 0.03% | 3.33% | |
| Benchmark | 0.04% | 3.33% | |
| US Bank | 0.04% | 3.33% | |
| Wells Fargo Bank | 0.04% | 3.33% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Gate City Bank | -0.01% | 11.11% | |
| Bremer Bank | -0.01% | 22.22% | |
| US Bank | -0.00% | 22.22% | |
| Alerus Financial | 0.00% | 11.11% | |
| Wells Fargo Bank | 0.01% | 22.22% | |
| Barrington Bank & Trust | 0.01% | 11.11% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| US Bank | -0.01% | 33.33% | |
| Alerus Financial | 0.00% | 33.33% | |
| Wells Fargo Bank | 0.01% | 33.33% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Gate City Bank | -0.01% | 16.67% | |
| Bremer Bank | -0.01% | 33.33% | |
| US Bank | 0.00% | 16.67% | |
| Wells Fargo Bank | 0.01% | 16.67% | |
| Barrington Bank & Trust | 0.01% | 16.67% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Barrington Bank & Trust | -0.03% | 5.30% | |
| Gate City Bank | -0.02% | 9.85% | |
| Alerus Financial | -0.02% | 3.03% | |
| Florida Capital Bank | -0.02% | 3.03% | |
| Benchmark | -0.02% | 9.09% | |
| TCF Bank | -0.01% | 8.33% | |
| Merchants Bank | -0.01% | 0.76% | |
| Caliber Home Loans | -0.01% | 5.30% | |
| Wells Fargo Bank | -0.01% | 1.52% | |
| US Bank | 0.00% | 4.55% | |
| USAA | 0.00% | 25.76% | |
| Bremer Bank | 0.01% | 6.06% | |
| Quicken Loans | 0.04% | 17.42% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Gate City Bank | -0.02% | 11.63% | |
| Barrington Bank & Trust | -0.02% | 8.14% | |
| Benchmark | -0.02% | 10.47% | |
| Florida Capital Bank | -0.01% | 4.65% | |
| Alerus Financial | -0.01% | 2.33% | |
| TCF Bank | -0.01% | 10.47% | |
| Wells Fargo Bank | -0.00% | 2.33% | |
| US Bank | 0.00% | 2.33% | |
| Caliber Home Loans | 0.00% | 4.65% | |
| USAA | 0.01% | 33.72% | |
| Bremer Bank | 0.02% | 4.65% | |
| Quicken Loans | 0.06% | 4.65% |
| Lender Name | Rate Difference | Rate Rating | Market Share |
|---|---|---|---|
| Alerus Financial | -0.04% | 4.35% | |
| USAA | -0.03% | 10.87% | |
| TCF Bank | -0.03% | 4.35% | |
| Caliber Home Loans | -0.03% | 6.52% | |
| Merchants Bank | -0.02% | 2.17% | |
| Benchmark | -0.02% | 6.52% | |
| Gate City Bank | -0.01% | 6.52% | |
| Bremer Bank | -0.01% | 8.70% | |
| US Bank | -0.00% | 8.70% | |
| Quicken Loans | 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 of the data is 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 conditional on the commuting zone, 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 in Other Cities
This page contains information about the top mortgage lenders in the Grand Forks, ND area. For mortgage lender rankings in other cities, click here.