Monthly Payment on a $100K Mortgage in North Dakota
Using North Dakota's 0.98% property tax rate and $2,100/yr homeowners insurance.
$100K Mortgage in North Dakota: Rate Comparison
Monthly PITI payment using North Dakota's 0.98% property tax and $2,100/yr insurance.
| Rate | 5% Down | 10% Down | 20% Down |
|---|---|---|---|
| 5.5% | $851 | $820 | $711 |
| 6.0% | $882 | $849 | $736 |
| 6.5% | $913 | $878 | $762 |
| 7.0% | $944 | $908 | $789 |
| 7.5% | $976 | $938 | $816 |
| 8.0% | $1,009 | $970 | $844 |
How This Compares to North Dakota's Median
A $100K home is 61% below North Dakota's median of $255K. This is well within reach in many North Dakota communities.
Income Needed for a $100K Home in North Dakota
To afford this payment of $878/mo in North Dakota, you'd need a household income of approximately $38K/year (28% rule). That's the standard guideline lenders use to determine what you can comfortably spend on housing.
See what a $40K salary can afford →Closing Costs in North Dakota
Estimated closing costs in North Dakota: $1K (1.1% of purchase price). North Dakota has no transfer tax, which helps keep your upfront costs lower.
What to Know About a $100K Mortgage in North Dakota
With 10% down ($10,000), your loan of $90,000 at 6.5% over 30 years produces a principal and interest payment of $569/mo. Adding North Dakota's 0.98% property tax ($82/mo) and $2,100/yr insurance ($175/mo) brings your total to $878/mo. Because you're putting less than 20% down, PMI adds $53/mo until you reach 20% equity.
Over the full 30-year term, you'll pay approximately $114,790 in total interest. Even a small rate reduction makes a big difference — dropping from 7.0% to 6.5% on this loan saves about $10,768 over the life of the loan.