Fargo, ND Mortgage Calculator
Calculate your estimated mortgage payment for a home in Fargo, ND. Pre-filled with Fargo's average home price of $275,000, local property tax rate of 1.02%, and typical insurance costs.
$275,000
Avg. Home Price
1.02%
Property Tax Rate
$1,900
Avg. Annual Insurance
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? Monthly payment PITI with taxes & insurance included
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? Bi-weekly payment PITI if paid every other week
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? The date of the last payment
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? The date of the last bi-weekly payment
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? Total interest paid
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? Total interest paid if bi-weekly payments made
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? Monthly property tax paid (included in above PITI payment)
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? Monthly Home Insurance paid (included in above PITI payment)
Fargo, ND Mortgage Overview
The average home in Fargo costs around $275,000. With a 20% down payment of $55,000, you would need a loan of $220,000.
Fargo homeowners pay a property tax rate of approximately 1.02%, which translates to about $2,805 per year on the average home. Annual homeowners insurance in Fargo averages around $1,900.
What Affects Your Fargo Mortgage Payment?
Your monthly PITI payment in Fargo includes four components:
- Principal — the portion that reduces your loan balance
- Interest — the cost of borrowing, based on your rate and remaining balance
- Taxes — Fargo’s property taxes average 1.02%, higher than the North Dakota state average of 0.98%
- Insurance — homeowners insurance in Fargo averages $1,900/year
Tips for Fargo Home Buyers
- Compare rates from multiple Fargo lenders — even a 0.25% rate difference can save tens of thousands over the life of your loan
- Check your credit score before applying — a higher score means better rates
- Consider bi-weekly payments — paying every two weeks instead of monthly can shave years off your mortgage
- Factor in PMI — if your down payment is less than 20%, you’ll pay Private Mortgage Insurance until you reach 80% loan-to-value
- Look at Fargo first-time buyer programs — many North Dakota cities offer down payment assistance or reduced rates for first-time buyers
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