Mortgage Rates in Grand Forks, North Dakota — March 2026
Updated March 2026 | Based on Grand Forks market data and regional lending conditions
Grand Forks is a growing city in North Dakota with a population of 56,588. The current 30-year fixed mortgage rate in Grand Forks is 6.72%, which is 0.07% above the national average. With a median home price of $245,000 and a 20% down payment of $49,000, homebuyers can expect a monthly principal and interest payment of approximately $1,267.
Current Mortgage Rates in Grand Forks, ND
Below are the current average mortgage rates available in the Grand Forks 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% |
Grand Forks Housing Market Overview
The Grand Forks housing market offers relatively affordable housing compared to many major cities. The median household income in Grand Forks is $48,250, and the cost of living index is 88.5 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $62,871 to comfortably afford the median-priced home in Grand Forks, which exceeds the current median household income.
Monthly Payment Breakdown for Grand Forks
Based on the median home price of $245,000 with 20% down ($49,000), here is what you can expect to pay monthly in Grand Forks:
15-Year vs. 30-Year Mortgage in Grand Forks
Choosing a 15-year mortgage in Grand Forks at 5.96% instead of a 30-year at 6.72% would save you $159,120 in total interest over the life of the loan. However, your monthly payment would be $1,650 instead of $1,267 — an increase of $383 per month.
Calculate Your Grand Forks 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 Grand Forks
What are the current mortgage rates in Grand Forks, ND?
As of March 2026, the average 30-year fixed mortgage rate in Grand Forks, 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 Grand Forks?
Based on the median home price of $245,000 with 20% down, the estimated monthly mortgage payment in Grand Forks is $1,267 for principal and interest. Including property taxes of $200/month, the total monthly housing cost is approximately $1,467.
What income do I need to buy a home in Grand Forks?
Using the 28% rule, you would need an annual income of approximately $62,871 to afford the median-priced home in Grand Forks at $245,000. The median household income in Grand Forks is $48,250. This means most households would need to either earn above the median or consider homes below $245,000.
Is Grand Forks a good place to buy a home in 2026?
Grand Forks offers a below-average cost of living with a cost of living index of 88.5 (national average = 100). The property tax rate in North Dakota is 0.98%, which is near the national average. Grand Forks has a population of 56,588 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 Grand Forks, North Dakota area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.