Home Loans In Bismarck, North Dakota 

Bismarck, North Dakota, the small but vibrant capital, is the second-most-populous city in the Peace Garden State. Hugging the mighty Missouri River, Bismarck is history, culture, and outdoor recreation hub. In 2020, it was listed as the seventh fastest-growing small city in the United States.

If you’re planning to buy a home in North Dakota, Bismarck is a great place to commence your search. However, unless you’ve got hundreds of thousands of dollars ready to spend, you’ll likely need a home loan to finance your purchase. We can help. 

At Capital Home Mortgage, we are committed to providing would-be homeowners with a streamlined home loan application and approval process. Here’s what you need to know. 

Different Types of Bismarck, ND Home Loans

Choosing the right home loan program is one of the most important decisions you’ll make on the road to becoming a homeowner. Here are some popular options you’ll likely come across: 

• FHA-Insured Home Loans

These are government-insured mortgages. FHA loans are designed to help individuals purchase and refinance real estate properties with a down payment as low as 3.5% of the purchase price. However, they also require mortgage insurance premiums, so be sure to factor that into your decision-making. 

• Conventional Home Loans

These are home loans that are not insured or offered by the government. Typical providers include banks, mortgage companies, credit unions, and private lenders. Conventional loans also have a low down payment requirement (usually 5%); however, the lenders generally have more stringent pre-approval conditions, such as higher credit scores and lower debt-to-income ratios.

• USDA Home Loans

These loans are available to people who want to buy in a designated rural area. USDA stands for United States Department of Agriculture, the supervisory body in charge of rural housing programs across the country. It offers 100% financing to qualified borrowers.

• Jumbo Home Loans

These loans offer homebuyers the ability to buy a property that exceeds the conventional conforming loan ceiling set by Fannie Mae and Freddie Mac. Jumbo loans may be a great option if you want to finance an expensive home without being obligated to go over the 20% down payment requirement. 

• VA Home Loans

These home loans are only available to veterans and their surviving spouses. One of the most significant benefits of VA loans is that they don’t require a down payment. That being said, you’ll still need to meet the lender’s credit, and income loan requirements before the financing can be approved. 

• One Time Close Construction Loans

This type of loan is available to people who want to build their homes from scratch. You can roll your construction financing into your permanent mortgage. This means you can purchase the land and complete the construction. However, these loans typically carry higher interest rates. 

Bismarck, ND Mortgage Lender

Capital Home Mortgage is a full-service mortgage company offering a comprehensive array of home loan programs and mortgage products in Bismarck, ND. As an experienced direct mortgage lender, we handle the entire home loan process. This means faster approvals, low rates, and on-time closings. 

We pride ourselves on catering to our client’s needs, whether they’re looking to buy their first home, refinance their current mortgage, or consolidate debt. 

Are You Looking To Buy A New Home In Bismarck, ND?

Talk to us today about your home financing needs. Our seasoned mortgage professionals are standing by to provide you with all the assistance you need to access quality home loans in Bismarck, ND. 

Give us a call at (701) 347-2822 to speak with one of our loan officers about your homeownership plans. 

Thank you for visiting our website, and we look forward to working with you to finance your dream home.