Compare Fargo, ND 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 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.
August 12, 2022
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 $274,763
Based on current mortgage rates and a 10% down payment, you need to make $45,019 per year to buy the median priced home in Fargo
With this income, you could qualify for a $247,286 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 $1,043
The median household income for Fargo, ND (Cass County) is $67,250
Based on this income, you can afford a home valued at approximately $410,445
The home price you can afford to buy based on household income in Fargo is 149% of the median home value which means housing prices are average. Fargo (Cass County) ranks 53 out of 53 counties in North Dakota and 2,601 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