North Dakota · Short-term rehab · 1–4 unit

Fix and flip loans in North Dakota, funded in 48 hours.

Direct fix and flip financing from a North Dakota lender’s desk — Fargo, Bismarck, Grand Forks, and Minot. $100K to $5M per asset, up to 92.5% of project cost, 100% of the rehab budget, weekly draws, no application fee, no prepayment penalty. Underwritten in-house and wired through a North Dakota title company on a clean file inside two business days.

Contact us → See terms ↓
$650M+
Capital deployed
1,450
Loans closed
50
States covered
48 hrs
Fastest close
Single-family home mid-renovation in a North Dakota neighborhood with truck and materials on the drive

A Hawthorne acquisition, a Bismarck full-gut, a Grand Forks BRRRR. The numbers below are how we wrote them.

North Dakota · Q3 2025

Why North Dakota investors use PML

Banks underwrite borrowers. PML underwrites deals.

A conventional North Dakota mortgage takes 30 to 45 days, asks for two years of W-2s, and reprices halfway through. None of that matches how a North Dakota flip clears at auction or on the MLS. Hard money exists because investor deals close in days, not months — and because the asset itself, post-rehab, is the collateral that matters.

Speed in Fargo

County trustee or court foreclosure calendars across North Dakota clear on a posted schedule, and the FMAAR MLS turns over the sharpest off-market inventory inside 48 hours. PML issues a binding term sheet within four business hours and wires a clean North Dakota file in 48 hours. The faster you can credibly close, the deeper the discount you can negotiate on a Hawthorne acquisition or a Fargo value-add.

Leverage on a $165K–$345K ARV

North Dakota flips concentrate in the $165,000 to $345,000 ARV band — the cosmetic three-twos and full-gut projects that occupy Hawthorne Fargo, Hillside Bismarck, Riverside Grand Forks, Roosevelt Park. At 92.5% LTC and 100% rehab funding, a single experienced North Dakota flipper can run four to six concurrent projects on the equity that a bank loan would tie up in one. The math on annual return on equity favors the leveraged operator on every realistic scenario.

Asset-based, not income-doc’d

PML underwrites the property’s as-repaired value, your Schedule of Values, and your sponsor track record. We do not need W-2s, North Dakota state returns, or DTI calculations. That makes PML the right tool for self-employed North Dakota operators, anyone running income through a North Dakota LLC or S-corp, and any sponsor with a complex K-1 stack from prior closings.

North Dakota fix and flip terms

Numbers, not asterisks.

Same rate sheet as every other state in our book. PML underwrites on the as-repaired value, not the purchase price alone. Leverage scales with sponsor track record, market, and deal quality — and every term below moves on a published rate sheet.

Loan amount
$100K–$5MSingle asset or portfolio facility
Loan-to-cost
Up to 92.5%100% of rehab on tier-1 sponsors
Loan-to-purchase
Up to 90%Acquisition portion of LTC
Loan-to-ARV
Up to 75%Cap on combined leverage
Rate from
8.99%For 3+-deal sponsors, 660+ FICO
Origination
1–2.5 ptsNo application fee, ever
Term
6–18 moTwo 3-month extensions available
Interest type
Interest-onlyDutch or non-Dutch, your choice
Prepayment penalty
NoneSell or refi the day after close
FICO floor
600Soft pull until terms accepted
Property type
1–4 unitSFR, duplex, triplex, fourplex
North Dakota coverage
StatewideTitle via North Dakota title company
Draw turnaround
48 hoursInspector clears in 1 business day
Time to close
5–10 days48 hours on a clean file
Recourse
StandardPersonal guarantee from sponsor
Application fee
$0No upfront, no soft pull until quoted

North Dakota market, by the numbers

What flipping in North Dakota looks like right now.

Three data points from current public reporting that shape how PML prices and sizes North Dakota fix and flip loans. We update internally each quarter; the figures below were current as of the most recent published cycles.

3.6%
North Dakota flip share — flips as a percentage of all home sales in the state, with Fargo and Bismarck carrying the bulk of the volume.
Source · ATTOM Q3 2025
$54,200
Average gross flipping profit on a North Dakota flip — gross, not net of rehab, holding cost, or selling expense.
Source · ATTOM Q3 2025
38 d
Median days on market for resold single-family inventory in the Fargo MSA, with an ARV band sitting between $215K and $325K on cosmetic flips.
Source · FMAAR · Q3 2025

Three deals we’d write in North Dakota

Three deals we’d write in North Dakota.

Three illustrative deal profiles drawn from common configurations across our North Dakota book. Real closings vary; these are anchor points for the math, not solicitations.

Hawthorne cosmetic

Cass County, Fargo · 1950s 3/2 SFR

Sold · m8
Purchase price$156,000
Rehab budget$32,000
As-repaired value$248,000
Loan amount$167,000
LTC / LTV-ARV89% · 67%
Rate / term9.25% · 9 mo
Weekly draw$3,500–$5,500
Time to close42 hours
Exit: Sold for $253,000 in month 8. Four-week marketing window inside the Fargo corridor.

Bismarck full gut

Burleigh County, Bismarck · 1960s 3/2 SFR

Active · m6
Purchase price$114,000
Rehab budget$64,000
As-repaired value$268,000
Loan amount$160,000
LTC / LTV-ARV90% · 60%
Rate / term9.49% · 12 mo
Weekly draw$5,000–$8,000
Time to close5 days
Plan: Down to studs, mechanicals replaced, second-bath reconfigured. Listing target month 10 at $280,000.

Grand Forks BRRRR

Grand Forks County, Grand Forks · 4-unit value-add

Refi’d · m8
Purchase price$126,000
Rehab budget$30,000
As-repaired value$215,000
Loan amount$140,000
LTC / LTV-ARV90% · 65%
Rate / term9.99% · 12 mo
Weekly draw$3,000–$4,500
Time to close6 days
Exit: Refinanced into PML DSCR rental loan in month 8 once all four units stabilized. Same underwriter, no second appraisal.

Illustrative only. Representative of typical configurations across our North Dakota book — not specific recent closings. See recent loans →

How PML closes in North Dakota

How PML closes in North Dakota.
Five days from submission to wire.

The same five-step flow we run on every state, with three North Dakota-specific lines. Submitted Monday on a clean file, wired by Friday.

  1. Submit the deal

    Drop in the North Dakota property address, your Schedule of Values, and a draft purchase contract. No application fee and no soft credit pull at this stage.

    ~5 minutes

  2. Indicative terms

    A PML underwriter — not a salesperson — replies with a real North Dakota rate, leverage, and a binding term sheet. Soft credit inquiry runs only after you accept.

    ~4 hours

  3. Title & appraisal

    Title routes through a licensed North Dakota title company in the subject county. North Dakota does not require a separate state lender license for business-purpose loans on 1 to 4 unit non-owner-occupied investment property held by an entity. Subject-to-completion appraisal runs in parallel.

    ~2 days

  4. Closing docs

    North Dakota closings happen at a licensed title company. The same in-house team that quoted the deal also issues the closing docs — no table-funding, no last-minute repricing, no fee changes between term sheet and HUD.

    ~1 day

  5. Wire & weekly draws

    Funds wire at close. The Cass County e-recording system normally posts a deed and deed of trust the same business day they are submitted. Other major North Dakota metros (Bismarck, Grand Forks and Minot) run similarly fast on e-recording. PML wires loan proceeds the day of close; the lien recording happens in parallel. Weekly draws begin on receipt of the first paid invoices.

    Same day, then weekly

North Dakota fix and flip FAQ

Ten questions, asked by North Dakota flippers.

Specific to North Dakota. For broader hard money questions — FICO floors, BRRRR strategy, the 70% rule, application flow — see the 70% rule explainer, the BRRRR mechanics breakdown, or the full FAQ.

Do you lend in North Dakota?
Yes. PML funds fix and flip loans in all 50 states, with active flipper books in Fargo, Bismarck, Grand Forks, and Minot. Single-family, duplex, triplex, and fourplex properties. Loan size from $100,000 to $5,000,000 per asset, with cross-collateralized facility lines available for sponsors running three or more concurrent North Dakota projects. No state-line carve-outs on pricing or leverage; a Cass County flip prices off the same rate sheet as a Burleigh County flip.
Is PML licensed in North Dakota?
North Dakota does not require a separate state lender license for business-purpose loans on 1 to 4 unit non-owner-occupied investment property held by an entity. PML originates North Dakota fix and flip loans under that posture, with closings handled through the customary North Dakota closing process. Loans are not consumer mortgages; they cannot be used for a primary or secondary residence. The borrower is always an LLC, LP, or corporation, never a natural person.
What is the typical North Dakota loan size and ARV range?
The bulk of North Dakota fix and flip activity in our book lands in a $165,000 to $345,000 ARV band, with loans typically between $132,000 and $280,000 on a single asset. Fargo and Bismarck skew toward the lower half of that band on entry-level cosmetic flips; South Fargo and the Bismarck waterfront stretch to $545,000 plus on full-gut projects. We will write a North Dakota loan as small as $100,000 and as large as $5,000,000.
How does title and escrow work in North Dakota?
North Dakota is a title-company state. Closings happen at a licensed title company that handles both the title commitment and the escrow function — there is no attorney-state requirement and no separate settlement attorney. PML has working relationships with title companies in every major North Dakota metro and routes closings to whichever office produces the fastest commitment for the subject property’s county. A clean North Dakota file regularly closes 5 to 7 business days from term-sheet acceptance.
What transfer tax or recording fees apply in North Dakota?
North Dakota does not impose a real estate transfer tax. The buyer pays only the county recording fee on the deed and deed of trust. PML’s quote on the HUD reflects the actual North Dakota tax and recording schedule for the subject county; there are no lender markups on third-party closing costs.
Does North Dakota weather or seasonality affect rehab draws?
North Dakota winters are long and severe, materially affecting exterior trade work from October through April. We have funded North Dakota flips year-round, but the rehab schedule itself should plan for a 4 to 8 week seasonal cushion on roofing, siding, and concrete scopes. Draws never pause due to weather alone.
How long does foreclosure take in North Dakota if the loan defaults?
North Dakota is a judicial foreclosure state. A defaulted business-purpose loan moves through the courts in roughly 6 to 9 months from filed complaint to sheriff's or commissioner's sale — materially longer than non-judicial states like Texas or Arizona. As a sponsor this should never matter; as an underwriting input it is reflected in our North Dakota risk pricing.
How quickly does Cass County record a North Dakota deed?
The Cass County e-recording system normally posts a deed and deed of trust the same business day they are submitted. Other major North Dakota metros (Bismarck, Grand Forks and Minot) run similarly fast on e-recording. PML wires loan proceeds the day of close; the lien recording happens in parallel.
Do you fund foreclosure or auction purchases in North Dakota?
Yes. North Dakota foreclosure sales are court-ordered judicial sales conducted by the county sheriff or court-appointed commissioner, with the sale date set by the court after entry of the foreclosure judgment. PML can fund acquisitions from courthouse-step foreclosure sales when title is clean and judgment is final, with a binding term sheet inside four business hours. Plan additional time for confirmation-of-sale where the North Dakota courts require it.
Can I close into a North Dakota LLC formed after the property goes under contract?
Yes. PML can close into a newly-formed North Dakota LLC even if you took the property under contract in your personal name. The closing party handles the deed transfer at closing — the property moves from your personal name into the new entity simultaneous with the loan funding, with no North Dakota transfer tax to absorb. We do not lend to natural persons; the borrower is always an entity. We can help structure the entity if you do not yet have one in place.

The next North Dakota flip does not have to wait two weeks for terms.

Submit a North Dakota property and an underwriter replies with a real rate within four business hours. No application fee, no soft pull until you accept. Underwritten in-house, wired through a North Dakota title company.

Contact us → See pricing →

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