Mortgage Rates in Fargo, North Dakota — March 2026
Updated March 2026 | Based on Fargo market data and regional lending conditions
Fargo is a growing city in North Dakota with a population of 125,990. The current 30-year fixed mortgage rate in Fargo is 6.72%, which is 0.07% above the national average. With a median home price of $275,000 and a 20% down payment of $55,000, homebuyers can expect a monthly principal and interest payment of approximately $1,423.
Current Mortgage Rates in Fargo, ND
Below are the current average mortgage rates available in the Fargo area as of March 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.72% | 6.65% | +0.07% |
| 15-Year Fixed | 5.96% | 5.89% | +0.07% |
| 5/1 ARM | 6.22% | 6.15% | +0.07% |
| FHA | 6.32% | 6.25% | +0.07% |
| VA | 6.12% | 6.05% | +0.07% |
| Jumbo | 6.92% | 6.85% | +0.07% |
Fargo Housing Market Overview
The Fargo housing market offers relatively affordable housing compared to many major cities. The median household income in Fargo is $52,250, and the cost of living index is 92.5 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $70,629 to comfortably afford the median-priced home in Fargo, which exceeds the current median household income.
Monthly Payment Breakdown for Fargo
Based on the median home price of $275,000 with 20% down ($55,000), here is what you can expect to pay monthly in Fargo:
15-Year vs. 30-Year Mortgage in Fargo
Choosing a 15-year mortgage in Fargo at 5.96% instead of a 30-year at 6.72% would save you $178,920 in total interest over the life of the loan. However, your monthly payment would be $1,852 instead of $1,423 — an increase of $429 per month.
Calculate Your Fargo Mortgage Payment
Use our free calculator to get a personalized estimate based on your loan amount, interest rate, and term.
Open Free CalculatorFrequently Asked Questions About Mortgages in Fargo
What are the current mortgage rates in Fargo, ND?
As of March 2026, the average 30-year fixed mortgage rate in Fargo, North Dakota is 6.72%, while the 15-year fixed rate is 5.96%. FHA loans average 6.32% and VA loans 6.12%. These rates are 0.07% above the national average of 6.65%.
How much is a monthly mortgage payment in Fargo?
Based on the median home price of $275,000 with 20% down, the estimated monthly mortgage payment in Fargo is $1,423 for principal and interest. Including property taxes of $225/month, the total monthly housing cost is approximately $1,648.
What income do I need to buy a home in Fargo?
Using the 28% rule, you would need an annual income of approximately $70,629 to afford the median-priced home in Fargo at $275,000. The median household income in Fargo is $52,250. This means most households would need to either earn above the median or consider homes below $275,000.
Is Fargo a good place to buy a home in 2026?
Fargo offers a below-average cost of living with a cost of living index of 92.5 (national average = 100). The property tax rate in North Dakota is 0.98%, which is near the national average. Fargo has a population of 125,990 and offers a very affordable lifestyle.
Mortgage Rates in Other North Dakota Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Fargo, North Dakota area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.