Compare North Dakota mortgage rates and fees from top lenders. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lowest mortgage rates in North Dakota.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in North Dakota. Plus, shopping lenders is free and there is no obligation.
June 26, 2022
Below we offer valuable insights on the housing market and real estate prices in North Dakota. Understand how much you need to make to buy a house in North Dakota, including the mortgage you need. Review the monthy loan payment so you can determine if home ownership in North Dakota is affordable for you. We provide this helpful information to help you decide if living in North Dakota is right for you.
The median home value for North Dakota is $231,114
Based on current mortgage rates and a 10% down payment, the income required to buy the median priced home in North Dakota is $37,867
With this income, you could qualify for a $208,003 mortgage, assuming your monthly debt expense is reasonable
Based on this loan amount, the monthly mortgage payment required to buy the median priced home in North Dakota is $877
The median household income for North Dakota is $70,934
Based on this income, you can afford a home valued at approximately $432,933
The home price you can afford to buy based on household income in North Dakota is 187% of the median home value which means housing prices are affordable. North Dakota ranks 12 out of 50 states for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the real estate market in North Dakota is affordable