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Grand Forks

Current Mortgage Rates in Grand Forks, North Dakota

Compare mortgage rates and fees for leading lenders in Grand Forks, 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 Grand Forks.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Grand Forks. Plus, shopping lenders is free and there is no obligation.

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Mortgage Rates in Grand Forks, ND as of January 23, 2020
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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.
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How Do Today's Grand Forks, ND Mortgage Rates Compare?

January 23, 2020

The current average rate for a 30 year fixed rate mortgage in Grand Forks 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
Grand Forks, ND Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.650%
15 Year Fixed Rate
B.BBB%
3.090%
5/1 Adjustable Rate Mortgage
C.CCC%
3.390%

How Affordable is Housing in Grand Forks, North Dakota?

Below we provide helpful information on the real estate market, home prices and housing affordability in Grand Forks. Understand how much you need to earn to afford a home in Grand Forks, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Grand Forks 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 Grand Forks is right for you.

The median home value for Grand Forks, ND is $211,384

Based on current mortgage rates and a 10% down payment, you need to make $38,044 per year to buy the median priced home in Grand Forks

With this income, you could qualify for a $190,246 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 Grand Forks is $881

The median household income for Grand Forks, ND is $54,219

Based on this income, you can afford a home valued at approximately $301,261

The home price you can afford to buy based on household income in Grand Forks is 143% of the median home value which means housing prices are average. Grand Forks ranks 53 out of 53 counties in North Dakota and 2,627 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Grand Forks, ND is average

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Loan Limits for Grand Forks, North Dakota

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Grand Forks below.

Conforming loan limits for Grand Forks, ND

1 unit: $510,400
2 units: $653,550
3 units: $789,950
4 units: $981,700

FHA loan limits for Grand Forks, ND

1 unit: $331,760
2 units: $424,800
3 units: $513,450
4 units: $638,100

VA loan limits for Grand Forks, ND

1 unit: $510,400

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