M
MortgageMath
Free mortgage calculators for every state

Mortgage Calculator &
Closing Costs: Fargo, ND

Mortgage payment estimates, closing cost breakdowns, and homebuying data for Fargo, North Dakota.

Median Home Price
$285K
Population
126K
Avg Monthly Rent
$1,120
Property Tax Rate
0.98%
Fargo vs North Dakota Median
The median home price in Fargo is $285,000, which is 12% above the North Dakota state median of $255,000.

Mortgage Calculator — Fargo, ND

Pre-filled with Fargo median home price and North Dakota tax/insurance rates. Adjust for your property.

$
$57,000
%
%
years
ND avg
%
$
Monthly Payment (PITI)
$1,849
Principal + Interest + Tax + Insurance + PMI
Principal & Interest
$1,441
per month
Taxes & Insurance
$408
per month
Total Interest Paid
$291K
over 30 years
Total Loan Cost
$519K
all payments
Payment Breakdown
Loan Amount$228,000
Principal & Interest$1,441
Property Taxes$233
Homeowners Insurance$175
Total Monthly PITI$1,849

Closing Costs — Fargo, ND

Estimated closing costs based on North Dakota rates and fees applied to Fargo prices.

$
%
North Dakota: Avg closing costs 1.1% of price. Transfer tax: 0%.
Estimated Closing Costs
$9,884
3.5% of purchase price
Lender Fees
$2,477
origination, underwriting
Third-Party
$2,875
appraisal, title, inspection
Government Fees
$0
transfer taxes, recording
Prepaids + Escrow
$4,532
taxes, insurance, interest
Itemized Costs
Loan Origination (0.8%)$2,052
Underwriting Fee$350
Credit Report$75
Appraisal$550
Home Inspection$450
Title Search + Insurance$1,725
Recording Fee$150
Prepaid Taxes (3 mo)$698
Prepaid Insurance (12 mo)$2,100
Prepaid Interest (15 days)$685
Escrow Reserves$1,048
Total Closing Costs$9,884

Buying a Home in Fargo, North Dakota

The median home price in Fargo is $285,000, 12% above the North Dakota state median of $255,000. With a population of 125,990, Fargo is a mid-size city where home prices reflect strong demand and local economic factors.

Property taxes in North Dakota average 0.98% annually. This moderate property tax rate means a $285,000 home in Fargo would carry roughly $233/month in property taxes. Homeowners insurance in North Dakota runs approximately $2,100 per year. This is within the normal range nationally.

Average rent in Fargo is $1,120/month. With a price-to-rent ratio above 20, renting could be more economical in the short term — use our Rent vs Buy calculator to model your specific timeline.

Fargo presents moderate affordability. The $285K median puts homeownership within reach for median-income households, though down payment savings and closing costs require planning.

Run a Rent vs Buy analysis
Compare total costs of renting vs buying in Fargo.
Rent vs Buy Calculator →
Explore all of North Dakota: North Dakota Mortgage Calculator & Closing Costs →

Related Guides

The First-Time Buyer Playbook
Free weekly guide: mortgage tips, market updates, and money-saving strategies. No spam.