North Dakota mortgage calculator

Use our free mortgage calculator to estimate your monthly mortgage payment, includi...ng your principal and interest, taxes, insurance, and PMI in North Dakota. See how your monthly payment changes by making updates to your home price, down payment, interest rate, and loan term.

North Dakota housing market

North Dakota, the Peace Garden State, saw home values rise by 1.3% last year, but i...t has seen an increasingly strong and expensive housing market driven by the fracking boom. However, North Dakota is still relatively inexpensive with residents spending less than 18% of their monthly income on housing and with homes typically around the national average. North Dakota is well known for its beautiful International Peace Garden on the border with Canada right off highway 281.

Your monthly payment
$1,599
30 year fixed loan term
Monthly payment
Principal & interest

$1,163

Property taxes

Homeowners insurance

Homeowners association (HOA) fees

Compare common loan types

Total principal: $240,000

Loan Term
30 year fixedYour input
15 year fixed30 year fixed
Monthly Payment$1,599$2,159$1,590
Mortgage Rate4.125%3.56%*4.06%*
Total interest paid
$178,737
$70,104
$175,481
Loan Term
30 year fixedYour input
15 year fixed30 year fixed
Monthly Payment$1,599$2,159$1,590
Mortgage Rate4.125%3.56%*4.06%*
Total interest paid
$178,737
$70,104
$175,481
Amortization

See how your payments change over time for your 30 year fixed loan term

At year 0

30 year fixed loan term

Remaining
$240,000
Principal Paid
$0
Interest Paid
$0
Year 0
drag me
1
30
Years

Insights

We’ll share an interesting insight here for key milestones in your payoff schedule.

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See latest mortgage rates
Get personalized mortgage rates from San Francisco, CA.
Principal & interest

$1,163

North Dakota mortgage and refinance rates today (APR)

Loan typeAverage
rate
Change
1 day
Change
1 year
30-year fixed3.852%
0.0%
1.098%
15-year fixed3.272%
0.0%
1.198%
5/1 ARM3.75%
0.0%
1.28%

Today’s rate

3.852%
30-year fixed

Current rates in North Dakota are 3.852% for a 30-year fixed, 3.272% for a 15-year fixed, and 3.75% for a 5/1 adjustable-rate mortgage (ARM).

Find top real estate agents in North Dakota

Start building your winning home buying team! Our partner, HomeLight, analyzes millions of home sales to identify the best performing agent.

First-time home buyer programs in North Dakota

There are several national first-time home buyer programs that may be able to help you get into a home in North Dakota.

Conventional mortgage

National program

What you need to know

Best for home buyers with good credit looking for low down payments or limited mortgage insurance premiums. A conventional mortgage is a home loan that isn’t guaranteed or insured by the federal government. Conventional mortgages that conform to the requirements set forth by Fannie Mae and Freddie...

See full article

Average property tax in North Dakota counties

Taking U.S. Census data, NerdWallet has crunched the numbers to help you understand what property tax rate you can expect to pay on your future home in North Dakota. Because assessed values aren’t frequently updated, you may pay a higher rate at first but eventually you’ll pay a similar rate.

CountyAvg. property tax rateAvg. home value
Adams County0.83%$144,900
Barnes County0.91%$117,200
Benson County0.55%$68,900
Billings County0.64%$185,300
Bottineau County0.66%$140,500
Bowman County0.71%$149,600
Burke County0.57%$115,300
Burleigh County0.88%$266,000
Cass County1.27%$224,800
Cavalier County0.89%$95,500
Dickey County1.01%$110,400
Divide County0.46%$150,800
Dunn County0.41%$168,800
Eddy County1.08%$74,200
Emmons County0.81%$92,200
Foster County0.86%$125,600
Golden Valley County0.49%$119,900
Grand Forks County1.25%$205,100
Grant County0.63%$79,800
Griggs County0.82%$91,800
Hettinger County0.7%$108,200
Kidder County0.64%$104,400
LaMoure County0.69%$91,100
Logan County0.86%$79,000
McHenry County0.74%$116,700
McIntosh County0.88%$72,300
McKenzie County0.43%$213,600
McLean County0.63%$159,300
Mercer County0.81%$166,200
Morton County1.05%$187,600
Mountrail County0.5%$169,800
Nelson County0.69%$78,700
Oliver County0.56%$171,800
Pembina County0.93%$85,500
Pierce County0.85%$110,400
Ramsey County0.92%$130,400
Ransom County0.94%$120,600
Renville County0.74%$125,900
Richland County1.19%$116,000
Rolette County0.39%$73,700
Sargent County1.03%$96,400
Sheridan County0.57%$84,900
Sioux County0.3%$76,300
Slope County0.27%$89,300
Stark County0.78%$228,200
Steele County0.8%$72,000
Stutsman County1.16%$130,900
Towner County0.87%$73,000
Traill County0.83%$127,200
Walsh County0.96%$83,700
Ward County0.92%$206,600
Wells County0.93%$84,200
Williams County0.7%$238,900

Source: American Communities Survey 2016, U.S. Census

How we got here
Monthly payment: What’s behind the numbers used in our mortgage calculator?
How to calculate your mortgage payment
How to use a mortgage payment calculator
Monthly payment: What’s behind the numbers used in our mortgage calculator?

A mortgage calculator used to look kind of like your grandfather’s cell phone. A bunch of buttons, a little screen and a lot of punching in numbers to get a result. The NerdWallet home mortgage calculator is different. It can calculate your monthly mortgage payment in no time.

Any good home mortgage calculator can do that. Even that big calculator stuffed in your grandpa’s shirt pocket. But an excellent mortgage payment calculator can do more. That’s why the NerdWallet monthly mortgage payment calculator also takes into account the additional costs — like taxes and insurance — that are included in your monthly payment. It’s called a PITI mortgage calculator, for principal, interest, taxes and insurance. We can also include HOA dues and PMI — private mortgage insurance — in your monthly payment calculation.

A lot of folks forget to include all those costs and are frankly a bit surprised when their monthly mortgage payment turns out to be a lot more than they counted on. The formula working behind the curtain of the NerdWallet mortgage calculator takes that bit of uncertainty out of the picture.

A mortgage calculator used to look kind of like your grandfather’s cell phone. A bunch of buttons, a little screen and a lot of punching in numbers to get a result. The NerdWallet home mortgage calculator is different. It can calculate your monthly mortgage payment in no time.

Any good home mortgage calculator can do that. Even that big calculator s...

See all
How to calculate your mortgage payment

For the paper and pencil mathletes out there, the mortgage payment calculation looks like this:

M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1]

The variables are as follows:

  • M = monthly mortgage payment
  • P = the principal amount
  • i = your monthly interest rate. Your lender likely lists interest rates as an annual figure, so you’ll need to divide by 12, for each month of the year. So, if your rate is 5%, then the monthly rate will look like this: 0.05/12 = 0.004167.
  • n = the number of payments over the life of the loan. If you take out a 30-year fixed rate mortgage, this means: n = 30 years x 12 months per year, or 360 payments.

For the paper and pencil mathletes out there, the mortgage payment calculation looks like this:

M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1]

The variables are as follows:

  • M = monthly mortgage payment
  • P = the principal amount
  • i = your monthly interest rate. Your lender likely lists interest rates as an annual figure, so you’ll need to divide by 12, for each m...
See all
How to use a mortgage payment calculator

Determining what your monthly house payment will be is an important part of the “how much house can I afford?” decision. That monthly payment is likely to be the biggest part of your living overhead.

Using this tool to calculate your mortgage payment can help you run various scenarios in your decision process for buying a home. You may consider:

  • How long of a home loan term is right for you? A 30-year fixed-rate mortgage will lower your monthly payment, but you’ll pay more interest over the life of the loan. A 15-year fixed-rate mortgage can reduce the total interest you’ll pay, but your monthly payment will be higher. Regardless of which term you choose, fixed-rate mortgages have interest rates that are locked in for the life of the loan.
  • Is an ARM a good option? Adjustable-rate mortgages start with a “teaser” interest rate, and then the loan rate changes — higher or lower — over time. A 5/1 ARM can be a good choice, particularly if you plan on being in a home for just a few years or so. You’ll want to be aware of how much your monthly mortgage payment can change, especially if interest rates are trending higher.
  • If you’re buying too much home. The NerdWallet mortgage payment calculator can help you take a reality check on just how much home you can afford, especially when considering your all-in costs, including taxes, insurance and PMI.
  • Are you putting enough money down? With minimum down payments commonly as low as 3% these days, it’s easier than ever to put just a little money down. The mortgage payment calculator can help you decide what the best down payment for you may be.

Determining what your monthly house payment will be is an important part of the “how much house can I afford?” decision. That monthly payment is likely to be the biggest part of your living overhead.

Using this tool to calculate your mortgage payment can help you run various scenarios in your decision process for buying a home. You may consider:

  • How ...
See all

Mortgage monthly payment 101

If your mortgage payment included just principal and interest, you could use a bare-bones mortgage calculator. But that’s rarely the case these days. There are a lot of costs that can be built into a monthly mortgage payment. Here are the five key components in play when you calculate mortgage payments:

  • Principal: Typically, this would be the home’s purchase price, less any down payment It’s the amount you borrow. If you’re buying a $500,000 home and put down $100,000, the principal would be $400,000.
  • Interest: What the lender charges you to loan you the money. Interest rates are expressed as an annual percentage.
  • Property taxes: The annual tax assessed by a government authority on your home and land.
  • Mortgage insurance: If your down payment is less than 20% of the home’s purchase price, you’ll likely pay mortgage insurance. It protects the lender’s interest in case a borrower defaults on a mortgage. Once the equity in your property increases to 20%, the mortgage insurance is canceled, unless you have an FHA loan.
  • Homeowners association (HOA) fee: This is paid by homeowners to an organization that assists with upkeep, property improvements and shared amenities.