Compare mortgage rates and fees for leading lenders in Fargo, ND. 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 lender offering the best mortgage rates in Fargo.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Fargo. Plus, shopping lenders is free and there is no obligation.
July 7, 2020
The current average rate for a 30 year fixed rate mortgage in Fargo is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%
Below we provide helpful information on the real estate market, home prices and housing affordability in Fargo. Understand how much you need to earn to afford a home in Fargo, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Fargo fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Fargo is right for you.
The median home value for Fargo, ND (Cass County) is $236,871
Based on current mortgage rates and a 10% down payment, you need to make $42,631 per year to buy the median priced home in Fargo
With this income, you could qualify for a $213,184 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 Fargo is $987
The median household income for Fargo, ND (Cass County) is $61,197
Based on this income, you can afford a home valued at approximately $340,030
The home price you can afford to buy based on household income in Fargo is 144% of the median home value which means housing prices are average. Fargo (Cass County) ranks 52 out of 53 counties in North Dakota and 2,614 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Fargo, ND is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Fargo (Cass County) below.
Conforming loan limits for Fargo, ND
FHA loan limits for Fargo, ND
VA loan limits for Fargo, ND