#48
North Dakota Reverse Mortgage Market Report
Statewide HECM Portfolio • Regulatory Framework: Standard HUD/FHA
16 Active FHA Lenders
North Dakota Executive Market BLUF
Institutional VerifiedAugust 2026 (HUD FHA Single-Family Release)
North Dakota activity centers in Fargo (Cass County) and Bismarck, providing steady retirement cash reserves.
Strategic Key Takeaways
- •Statewide senior home equity: $28.0 Billion.
- •Average Maximum Claim Amount (MCA): $272,000.
- •Annual endorsement momentum: +10.0% YoY.
- •Regulatory category: Standard HUD/FHA.
Total Senior Equity Pool
$28BEquity Pool
160,000 seniors age 62+
Total HECM Volume
$0.03B+10.0%
Rank #48 Nationwide
Endorsements YTD
110Annual Pace
Prior Year: 100
Average MCA
$272,000FHA Insured
Median Home: $270,000
North Dakota HECM Endorsement History
Annual volume trajectory vs average claim amount
Endorsements
Avg MCA
110 loans
2024 YTD
Latest Endorsements110
Average Claim (MCA)$272,000
Line of Credit Share87.8%
Avg Borrower Age74.6 yrs
Top HECM Origination Counties in North Dakota
53 Total Counties TrackedNorth Dakota County-Level HECM & Senior Equity Directory (53 Jurisdictions)
Complete county-by-county reverse mortgage endorsements, average Maximum Claim Amounts, and senior housing wealth in North Dakota.
| County | FIPS | Endorsements YTD | Avg MCA | Senior Equity | YoY Velocity |
|---|---|---|---|---|---|
| Cass County | 38017 | 50 | $291,924 | $2.5B | +6.5% |
| Grand Forks County | 38035 | 33 | $254,232 | $0.9B | +6.5% |
| Burleigh County | 38015 | 30 | $326,484 | $2.0B | +6.5% |
| Ward County | 38101 | 30 | $269,784 | $0.9B | +6.5% |
| Morton County | 38059 | 18 | $266,976 | $0.6B | +6.5% |
| Stark County | 38089 | 14 | $275,616 | $0.5B | +6.5% |
| Stutsman County | 38093 | 14 | $206,280 | $0.3B | +6.5% |
| Williams County | 38105 | 12 | $275,400 | $0.4B | +6.5% |
| Richland County | 38077 | 10 | $177,660 | $0.2B | +6.5% |
| McLean County | 38055 | 8 | $239,868 | $0.2B | +6.5% |
| Ramsey County | 38071 | 8 | $208,764 | $0.2B | +6.5% |
| Barnes County | 38003 | 8 | $170,424 | $0.2B | +6.5% |
| Walsh County | 38099 | 7 | $120,636 | $0.1B | +6.5% |
| Mercer County | 38057 | 5 | $207,360 | $0.1B | +6.5% |
| Bottineau County | 38009 | 5 | $203,580 | $0.1B | +6.5% |
| Traill County | 38097 | 5 | $186,516 | $0.1B | +6.5% |
| Pembina County | 38067 | 5 | $121,716 | $0.1B | +6.5% |
| Rolette County | 38079 | 5 | $97,416 | $0.1B | +6.5% |
| McKenzie County | 38053 | 4 | $356,616 | $0.2B | +6.5% |
| Dunn County | 38025 | 4 | $271,836 | $0.1B | +6.5% |
| Billings County | 38007 | 4 | $256,500 | $0.0B | +6.5% |
| Oliver County | 38065 | 4 | $245,052 | $0.0B | +6.5% |
| Mountrail County | 38061 | 4 | $221,400 | $0.1B | +6.5% |
| Bowman County | 38011 | 4 | $181,656 | $0.1B | +6.5% |
| Dickey County | 38021 | 4 | $177,876 | $0.1B | +6.5% |
| Renville County | 38075 | 4 | $178,740 | $0.0B | +6.5% |
| Divide County | 38023 | 4 | $175,932 | $0.0B | +6.5% |
| Foster County | 38031 | 4 | $173,124 | $0.1B | +6.5% |
| Pierce County | 38069 | 4 | $166,752 | $0.1B | +6.5% |
| Ransom County | 38073 | 4 | $157,572 | $0.1B | +6.5% |
| Golden Valley County | 38033 | 4 | $153,900 | $0.0B | +6.5% |
| Kidder County | 38043 | 4 | $151,524 | $0.0B | +6.5% |
| McHenry County | 38049 | 4 | $147,528 | $0.1B | +6.5% |
| Burke County | 38013 | 4 | $145,908 | $0.0B | +6.5% |
| Sargent County | 38081 | 4 | $145,692 | $0.1B | +6.5% |
| Towner County | 38095 | 4 | $137,808 | $0.0B | +6.5% |
| Cavalier County | 38019 | 4 | $132,732 | $0.1B | +6.5% |
| Griggs County | 38039 | 4 | $129,060 | $0.0B | +6.5% |
| LaMoure County | 38045 | 4 | $126,252 | $0.1B | +6.5% |
| Steele County | 38091 | 4 | $129,492 | $0.0B | +6.5% |
| Adams County | 38001 | 4 | $118,368 | $0.0B | +6.5% |
| Eddy County | 38027 | 4 | $117,072 | $0.0B | +6.5% |
| Emmons County | 38029 | 4 | $119,016 | $0.0B | +6.5% |
| Hettinger County | 38041 | 4 | $119,988 | $0.0B | +6.5% |
| Nelson County | 38063 | 4 | $115,992 | $0.0B | +6.5% |
| Sheridan County | 38083 | 4 | $117,180 | $0.0B | +6.5% |
| Slope County | 38087 | 4 | $118,692 | $0.0B | +6.5% |
| Wells County | 38103 | 4 | $112,536 | $0.0B | +6.5% |
| Logan County | 38047 | 4 | $101,952 | $0.0B | +6.5% |
| Sioux County | 38085 | 4 | $104,976 | $0.0B | +6.5% |
| Grant County | 38037 | 4 | $95,904 | $0.0B | +6.5% |
| Benson County | 38005 | 4 | $85,644 | $0.0B | +6.5% |
| McIntosh County | 38051 | 4 | $89,964 | $0.0B | +6.5% |
Calculate Borrowing Power in North Dakota
Institutional FHA HECM Principal Limit Calculator
HUD Mortgagee Letter 2017-17 Actuarial Matrix • Active FHA MCA Cap: $1,149,825
Non-Recourse Insured
Quick Scenarios:
$650,000
$150KFHA Cap: $1.15M$2.5M+ (Jumbo)
72 Years Old
Age 62 (Min)Age 75Age 95
$120,000
$0 (Free & Clear)$400K$800K
6.25%
4.00%6.25%8.50%
Eligible Non-Borrowing Spouse (NBS) Protection
Under HUD ML 2014-07, spouses of any age can be named as an Eligible Non-Borrowing Spouse, securing statutory rights to remain in the home indefinitely after the borrowing spouse passes away.
Net Available Principal Limit (LOC / Cash Payout)
$149,600PLF: 44.4%
Available immediately as an unused, guaranteed growing Line of Credit, or distributed as monthly tenure payments for life.
Gross Principal Limit$288,600
Tenure Monthly Payout$992/mo
Mandatory Debt Payoff$120,000
Max Claim Limit (Cap)$650,000
FHA Upfront MIP (2%)$13,000
Est. Total Closing Costs$19,000
10-Year Line of Credit Compounding Trajectory
| Year | Available Line | Loan Balance | Est. Retained Equity |
|---|---|---|---|
| Year 0 | $149,600 | $139,000 | $511,000 |
| Year 2 | $170,478 | $158,398 | $537,898 |
| Year 4 | $194,269 | $180,504 | $565,386 |
| Year 6 | $221,380 | $205,694 | $593,322 |
| Year 8 | $252,275 | $234,400 | $621,526 |
| Year 10 | $287,482 | $267,112 | $649,777 |
Plain-English Borrower Safeguards:
Zero Monthly Mortgage Bills
You Retain 100% Home Title
Tax-Free Loan Proceeds
Non-Recourse Protection for Heirs
Machine & Academic Citation Index
ReversePulse Research Board. (August 2026). "North Dakota Reverse Mortgage (HECM) Market Intelligence Report." Systemores Institutional Reverse Mortgage Intelligence. Retrieved from https://reverse.systemores.com/trends/north-dakota
Provenance: HUD FHA Single-Family Datasets & North Dakota Housing Division