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Find Your Next Minot Mortgage At AFR

From Apple Grove to Mouse River Valley to the banks of the Souris River, when it comes to home financing, American Financial Resources has the solution to all of your mortgage needs. Folks in Minot, ND are learning that AFR has an extensive selection of loan choices and some of the lowest current mortgage rates around. Known for its well-planned neighborhoods, rugged natural beauty, and positive economic climate, “The Magic City” holds charm for all ages. With an unemployment rate well below the national average and an abundance of affordable housing, Minot is a great place for young families, professionals, and retirees alike. Whether you are a potential first time homebuyer interested in FHA financing, a Minot-AFB employee curious about VA loans, or want to learn more about refinancing, please allow AFR to show you the way. As a direct mortgage lender with over a decade of experience, we are confident that we can match you with a mortgage program that meets your specifications. Think you can’t afford that cabin out in the country, perfect for fly-fishing and bird watching? Have your heart set on a custom-built Scandinavian style house, just like the family home in Norway?  Call 800-316-9508 to discover your possibilities in “The Magic City” today!

Living in the Community

Minot, ND Basic Stats

Minot is located in the north central part of North Dakota, about two hours from the Saskatchewan border. With a population of approximately 40,888 in 2010, Minot is the fourth-largest city in North Dakota. The total area of Minot is 17.45 square miles.

Minot has held the nickname "The Magic City" since the late 1800's. It came about when the Great Northern Railway ended its line in Minot, afterward a tent town seemed to spring up overnight - as if by "magic."

Demographics

The people of Minot are largely descendants of German, Norwegian and Irish heritage. According to the 2010 US Census, there were few minority groups in Minot, but the area's diversity has grown in recent years.

According to the 2010 census, the median age for residents in Minot was 33 years old.

Economy

In 2000, the median income for a household in Minot was $32,218 and about $42,804 for a family. About 8.8% of families and 12.8% of the population were below the poverty line.

Minot's economy is largely driven by the nearby air force base. Minot Air Force Base is located about 13 miles north of the city of Minot and is considered a Census Designated Place, with a total population of about 5,521**.

Aside from Minot Air Force Base, "The Magic City" is also home to one of ING/ReliaStar's service centers. According to the city's Wikipedia page, Minot was chosen by the financial services company due to its reputation for outstanding customer service.

In addition to the growing service industry and the nearby military base, Minot has also seen an expanding oil industry in recent years.

Housing

Minot offers a variety of housing options, from upscale condos to suburban-style single family homes.

Trulia.com names the 58701 and 58703 zip codes to be the most popular areas for real estate, both of which have average home listing prices of around $250k*.

The average listing price for a home in Minot is around $253k, according to Trulia. This figure represents a -0.1% week-over-week drop*

Who Would Love Life in Minot?

Minot may be a small Midwestern town, but don't let the atmosphere fool you. Minot has a surprisingly active cultural scene, with plenty of things to see and do. Anyone who appreciates art, music, and unique history will appreciate life in Minot.

With a population steeped in Scandinavian heritage, anyone who enjoys the beauty of Nordic architecture will love checking out Minot's Scandinavian Heritage Park while festival fans will love the annual Norsk Høstfest (Norwegian for "Autumn Festival").

Like any northern city, Minot has some drawbacks when it comes to severe weather. Snow, ice and cold gusty winds are common in the winter months, with temperatures sometimes dropping below zero. If you're not the type that is easily bothered by cold weather and don't mind getting out that snow shovel, then Minot's weather won't be much of a deterrent. After all, the friendly people, fun activities and growing economy are worth a few snowflakes!

If you're considering putting down roots in this unique Midwestern town, be sure to talk to American Financial Resources for home financing solutions!

*for the week ending Oct. 31,2012.
**subject to change