Not financial advice. Mortgage FV Calculator is a software calculator, not a personal-finance product or advisory service. It computes standard financial functions and displays the results for your convenience. Nothing here constitutes, or is intended to constitute, financial, investment, tax, legal, mortgage, credit, or insurance advice. Always consult a qualified professional before making any financial decision.
Grand Forks mortgage calculator
A median-priced Grand Forks, ND home at 6.75% over 30 years, with North Dakota property tax of 0.98% and $2,100 a year of homeowners insurance. Every figure below is computed on our amortising engine — nothing is estimated in the browser.
$1,737 a month, all in
Principal and interest are $1,290; escrow and PMI add the rest. Over the full term the loan costs $265,522 in interest. Discounted at 5%, buying here has a net present value of $22,213 ($160,974 in today’s dollars).
Within North Dakota, Grand Forks is the cheapest of the 3 North Dakota markets covered here — Fargo runs about 1.18x these prices. Buyers priced out of the expensive end of the state often end up comparing exactly this pair.
Grand Forks is cheaper than North Dakota as a whole — $221,000 against a state median of $260,000, roughly 15% below. On a 20% deposit that is $7,800 less to find up front.
Rents here are high relative to prices — a rent index of 0.90 against a price index of 0.85. That combination favours buying sooner, because the payment you avoid is larger relative to the price you pay.
Monthly cost in Grand Forks vs comparable rent
Owning is stacked by component; renting is the local median asking rent.
The monthly breakdown
| Median home price | $221,000 |
|---|---|
| Down payment (10%) | $22,100 |
| Loan amount | $198,900 |
| Principal & interest | $1,290/mo |
| Property tax (0.98%) | $180/mo |
| Homeowners insurance | $175/mo |
| PMI while above 80% LTV | $91/mo |
| Total monthly payment | $1,737/mo |
| Comparable rent | $1,035/mo |
What a rate move does to the Grand Forks payment
| Rate | Principal & interest |
|---|---|
| 5.5% | $1,129/mo |
| 6% | $1,193/mo |
| 6.5% | $1,257/mo |
| 7% | $1,323/mo |
| 7.5% | $1,391/mo |
| 8% | $1,459/mo |
Rent or buy in Grand Forks?
Against $1,035 a month in rent, over 7 years renting leaves you about $43,483 better off — $36,581 once 2.5% inflation is stripped out. See the North Dakota rent-vs-buy page.
Where these numbers come from
North Dakota medians come from editorial and are refreshed weekly. The Grand Forks figures index those state medians to the local market, so they track the same feed rather than going stale. Insurance and the state income tax rate are editorial. Treat everything here as a planning estimate, not a quote.