What the numbers say
Investors in North Dakota borrowed at a median rate of 7.25%, versus 6.375% for owner-occupants — a 88 bps premium that ranks 33rd of 51 states.
Their applications were denied 5.8% of the time. The leading reasons for denial were debt-to-income ratio, credit history, credit application incomplete.
69% of investor loans were business- or commercial-purpose — the category that includes DSCR and LLC-held loans — and 5% were cash-out refinances. The typical loan-to-value was 75%, implying about 25% down.