Metro area · ND
Lenders in Grand Forks, ND-MN
21 lenders made 58 multifamily loans in the Grand Forks, ND-MN metro area in 2024 and 2025, $91.7M in all. American Federal Bank made the most, with 9. The typical loan was about $400K.
- Evidence
- Multifamily loans placed in the metro area, HMDA
- Data as of
- HMDA 2025
- Page last changed
- November 11, 2026
- Lenders on record
- 21
- HMDA,
- Multifamily loans, 2024-25
- 58
- HMDA,
- Manufactured-home parks excluded
- Dollars
- $91.7M
- HMDA,
- Typical loan
- $400K
- HMDA,
Cite this
Source: The Lender Report, Lenders in Grand Forks, ND-MN, https://lender.report/lenders-in/grand-forks-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 | 9 | $10.4M | 2 | 7 |
| First State Bank multifamily record | Bank | Buxton, ND | 8 | $2.02M | 0 | 8 |
| First Community Credit Union multifamily record | Credit union | Jamestown, ND | 5 | $6.90M | 4 | 1 |
| Alerus Financial, National Association multifamily record | Bank | Grand Forks, ND | 4 | $6.14M | 1 | 3 |
| United Valley Bank multifamily record | Bank | Cavalier, ND | 4 | $3.66M | 2 | 2 |
| Frandsen Bank & Trust multifamily record | Bank | Lonsdale, MN | 4 | $1.34M | 2 | 2 |
| Old National Bank multifamily record | Bank | Evansville, IN | 3 | $1.30M | 3 | 0 |
| First Resource Bank multifamily record | Bank | Lino Lakes, MN | 2 | $10.4M | 2 | 0 |
| Capital Credit Union multifamily record | Credit union | Bismarck, ND | 2 | $720K | 0 | 2 |
| Choice Financial Group multifamily record | Bank | Fargo, ND | 2 | $700K | 1 | 1 |
| First International Bank & Trust multifamily record | Bank | Watford City, ND | 2 | $700K | 1 | 1 |
| Colliers Mortgage LLC multifamily record | Non-bank | Minneapolis, MN | 1 | $14.0M | 1 | 0 |
| First Dakota National Bank multifamily record | Bank | Yankton, SD | 1 | $8.50M | 1 | 0 |
| Northmarq Capital Finance, L.L.C. multifamily record | Non-bank | Washington, DC | 1 | $6.60M | 1 | 0 |
| National Exchange Bank and Trust multifamily record | Bank | Fond Du Lac, WI | 1 | $2.80M | 0 | 1 |
| County | Loans | Dollars | Lenders |
|---|---|---|---|
| Grand Forks County, ND | 46 | $74.5M | 16 |
| Polk County, MN | 12 | $17.2M | 7 |
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 | 42 |
| $1M to $2.5M | 5 |
| $2.5M to $5M | 6 |
| $5M to $10M | 3 |
| $10M or more | 2 |
- Lenders made 58 multifamily loans totaling $91.7M in Grand Forks, ND-MN in 2024 and 2025. HMDA,
- 3 of these loans were made by lenders that have since merged or closed. They are counted in the totals here and appear in no lender's row. HMDA,
- 28 of the loans were made in 2025 and 30 in 2024. HMDA,
- The typical loan in Grand Forks, ND-MN was about $400K, with the middle half between $280K and $1.4M. HMDA,
- 42 of the loans were under $1M, and 5 were $5M or more. HMDA,
- Lenders reported a median rate of 6.73% on 32 loans in Grand Forks, ND-MN, with the middle half between 5.95% and 7.15%. HMDA,
- The median term was 5 years. HMDA,
- The median loan to value was 68%. HMDA,
- 26% of the loans were refinancings and 66% were purchases. HMDA,
- Banks and savings institutions made 45 of the loans, credit unions 8, and non-banks 2. HMDA,
- The five most active lenders made 51.7% of the loans. HMDA,
- The three most active lenders were American Federal Bank with 9, First State Bank with 8, and First Community Credit Union with 5. HMDA,
- 11 of the 21 lenders are based in North Dakota. The rest are based elsewhere, most often in Minnesota, District of Columbia and Indiana. HMDA,
- The most common property size was 5 to 24 units, with 37 loans. HMDA,
- 2 counties in the metro area have loans on record, and Grand Forks County, ND has the most, with 46. HMDA,
How this list is defined
- Measure
- Multifamily loans made in the Grand Forks, 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.