CALCMONEY // MORTGAGE // ND // GRAND FORKS
Calculate your monthly mortgage payment using Grand Forks-specific property tax rates and local market data.
$245,000
6.95%
1.05%
88
| Principal & Interest | $1,297 |
| Property Tax | $214 |
| Homeowners Insurance (est.) | $82 |
| Total Monthly Payment (PITI) | $1,593 |
$49,000
$271,070
$68,291/yr
Home prices in Grand Forks run 42% below the national median: $245,000 versus $420,000. Relative to the $60,000 median household income here, the price-to-income ratio comes out to 4.1x.
Property taxes in Grand Forks run 1.05% of assessed value, below the 1.1% national average. On the median home, that's $2,573 a year, or $214 added to the monthly payment.
North Dakota levies a state income tax on top of the $1,593/month this mortgage runs. Model your real after-tax take-home before deciding how much payment you can carry.
Grand Forks's cost of living index is 88, below the 100 national baseline. That's on top of the housing numbers above, not instead of them.
Grand Forks's median home price runs 17% lower than nearby Fargo: $295,000 there versus $245,000 here.
Once you have your payment estimate, comparing lenders is the most important step. A 0.25% rate difference on a $196,000 loan saves $8,820 in interest over 30 years.
Compare Top Grand Forks Mortgage Lenders