Metro area · ND
Lenders in Fargo, ND-MN
41 lenders made 195 multifamily loans in the Fargo, ND-MN metro area in 2024 and 2025, $665.5M in all. American Federal Bank made the most, with 22. The typical loan was about $1.3M.
- Evidence
- Multifamily loans placed in the metro area, HMDA
- Data as of
- HMDA 2025
- Page last changed
- November 11, 2026
- Lenders on record
- 41
- HMDA,
- Multifamily loans, 2024-25
- 195
- HMDA,
- Manufactured-home parks excluded
- Dollars
- $665M
- HMDA,
- Typical loan
- $1.3M
- HMDA,
Cite this
Source: The Lender Report, Lenders in Fargo, ND-MN, https://lender.report/lenders-in/fargo-nd-mn/, data as of December 31, 2025.
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This page lists who has made multifamily loans here. Loan Comps shows who has made a loan like yours, with the loans to prove it.
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| Lender | Kind | Based in | Loans | Dollars | 2025 loans | 2024 loans |
|---|---|---|---|---|---|---|
| American Federal Bank multifamily record | Savings | Fargo, ND | 22 | $24.0M | 9 | 13 |
| Bell Bank multifamily record | Bank | Fargo, ND | 16 | $46.7M | 10 | 6 |
| Choice Financial Group multifamily record | Bank | Fargo, ND | 14 | $37.7M | 13 | 1 |
| Gate City Bank multifamily record | Savings | Fargo, ND | 14 | $6.98M | 9 | 5 |
| Cornerstone Bank multifamily record | Bank | Fargo, ND | 13 | $29.5M | 6 | 7 |
| Border Bank multifamily record | Bank | Fargo, ND | 9 | $27.5M | 9 | 0 |
| Western State Bank multifamily record | Bank | Devils Lake, ND | 8 | $29.9M | 6 | 2 |
| First Western Bank & Trust multifamily record | Bank | Minot, ND | 8 | $13.4M | 5 | 3 |
| First Community Credit Union multifamily record | Credit union | Jamestown, ND | 7 | $24.6M | 7 | 0 |
| Bank Forward multifamily record | Bank | Fargo, ND | 7 | $20.2M | 4 | 3 |
| Starion Bank multifamily record | Bank | Bismarck, ND | 6 | $58.7M | 4 | 2 |
| Alerus Financial, National Association multifamily record | Bank | Grand Forks, ND | 6 | $14.0M | 2 | 4 |
| Colliers Mortgage LLC multifamily record | Non-bank | Minneapolis, MN | 5 | $54.2M | 4 | 1 |
| First International Bank & Trust multifamily record | Bank | Watford City, ND | 5 | $31.9M | 5 | 0 |
| Midwest Bank multifamily record | Bank | Detroit Lakes, MN | 5 | $12.3M | 2 | 3 |
| County | Loans | Dollars | Lenders |
|---|---|---|---|
| Cass County, ND | 150 | $572M | 38 |
| Clay County, MN | 45 | $92.4M | 18 |
A county is listed for a year only when the public file holds 5 or more multifamily loans there that year.
| Loan size | Loans |
|---|---|
| Under $1M | 90 |
| $1M to $2.5M | 34 |
| $2.5M to $5M | 35 |
| $5M to $10M | 19 |
| $10M or more | 17 |
- Lenders made 195 multifamily loans totaling $665.5M in Fargo, ND-MN in 2024 and 2025. HMDA,
- 1 of these loans was made by lenders that have since merged or closed. They are counted in the totals here and appear in no lender's row. HMDA,
- 125 of the loans were made in 2025 and 70 in 2024. HMDA,
- The typical loan in Fargo, ND-MN was about $1.3M, with the middle half between $460K and $3.4M. HMDA,
- 90 of the loans were under $1M, and 36 were $5M or more. HMDA,
- Lenders reported a median rate of 6.75% on 124 loans in Fargo, ND-MN, with the middle half between 6.19% and 7.25%. HMDA,
- The median term was 5 years. HMDA,
- The median loan to value was 70%. HMDA,
- 36% of the loans were refinancings and 57% were purchases. HMDA,
- Banks and savings institutions made 166 of the loans, credit unions 15, and non-banks 13. HMDA,
- The five most active lenders made 40.5% of the loans. HMDA,
- The three most active lenders were American Federal Bank with 22, Bell Bank with 16, and Choice Financial Group with 14. HMDA,
- 20 of the 41 lenders are based in North Dakota. The rest are based elsewhere, most often in Minnesota, Ohio and Wisconsin. HMDA,
- The most common property size was 5 to 24 units, with 100 loans. HMDA,
- 2 counties in the metro area have loans on record, and Cass County, ND has the most, with 150. HMDA,
How this list is defined
- Measure
- Multifamily loans made in the Fargo, ND-MN metro area
- Period
- 2024 and 2025
- Formula
- Count, by lender, of HMDA records for multifamily dwellings of 5 or more units placed in the metro area, manufactured-home parks excluded, for each year in which the public file holds 5 or more such loans there.
- Order
- Largest first by loans recorded in the place, then dollars, then name. Payment is not part of the order.
- As of
- 2025
- Source
- HMDA
- Changelog
- : First published, with the data built on this date.
What we don't know
- Whether any of these lenders is taking new loans today.
- What they charge or require beyond the rate and term that HMDA reports.
- Loans on office, retail, industrial or hotel property. HMDA covers dwelling-secured loans only.
A metro area or county is named for a year only when the public file holds 5 or more multifamily loans there that year, so a small place is never exposed by a count.
HMDA covers dwelling-secured loans. Amounts are the midpoints of $10,000 bands, and each loan has a year, never a date.
Lenders that merged or stopped filing are left out.
Source and date appear beside each figure. Banks report balances, not loans made. Loans made come only from HMDA and SBA files. We do not audit filings and can make errors joining them. Report a problem
Figures come from public records and show the source and date beside them. Public records can be late, incomplete or wrong. A past loan does not mean a lender will make the same kind of loan today. Confirm anything important with the lender.