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Fargo

Current Mortgage Rates in Fargo, North Dakota

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.

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Mortgage Rates in Fargo, ND as of October 23, 2019
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Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click for more information on rates and product details.

How Do Today's Fargo, ND Mortgage Rates Compare?

October 23, 2019

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%

Mortgage Program
Today's
Fargo, ND Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.690%
15 Year Fixed Rate
B.BBB%
3.150%
5/1 Adjustable Rate Mortgage
C.CCC%
3.350%

How Affordable is Housing in Fargo, North Dakota?

The median home value for Fargo, ND (Cass County) is $230,195

The median household income for Fargo, ND (Cass County) is $59,800

Based on current mortgage rates and a 10% down payment, you need to make $42,708 per year to buy the median priced home in Fargo

The home price you can afford to buy based on household income in Fargo is 140% of the median home value which means housing prices are average

Fargo (Cass County) ranks 52 out of 53 counties in North Dakota and 2,675 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

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Loan Limits for Fargo, North Dakota

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

1 unit: $484,350
2 units: $620,200
3 units: $749,650
4 units: $931,600

FHA loan limits for Fargo, ND

1 unit: $314,827
2 units: $403,125
3 units: $487,250
4 units: $605,525

VA loan limits for Fargo, ND

1 unit: $484,350

Additional Mortgage Resources for Fargo, ND Residents

Mortgage Rates for North Dakota Cities

Bismarck Mortgage Rates

Fargo Mortgage Rates

Grand Forks Mortgage Rates

Minot Mortgage Rates

Williston Mortgage Rates

Sources

US Census Bureau American Community Survey: https://www.census.gov/programs-surveys/acs

FHFA House Price Index: https://www.fhfa.gov/DataTools/Downloads/Pages/House-Price-Index-Datasets.aspx#qat

Income Growth: https://www.bls.gov

National Average Rates: http://www.freddiemac.com/pmms/

Conforming Loan Limits: https://www.fhfa.gov/DataTools/Downloads/Pages/Conforming-Loan-Limits.aspx

FHA Loan Limits: https://entp.hud.gov/idapp/html/hicostlook.cfm

VA Loan Limits: https://www.benefits.va.gov/homeloans/purchaseco_loan_limits.asp

FREEandCLEAR Housing Affordability Index