North Dakota First-Time Homebuyer Calculator
First-time homebuyer costs in North Dakota: $8,750 FHA down payment, $6,250 closing costs, 0.98% property tax. See total upfront costs & monthly payments.
How This Calculator Works
Calculation methodology and assumptions
First-time homebuyer cost breakdown for North Dakota. Includes down payment, closing costs (2.5%), PMI (required below 20% down), property tax (0.98%), and homeowners insurance ($2,050/yr). DTI ratio should stay below 43% for conventional loans and 50% for FHA.
Key State Information
North Dakota homebuyer facts: Median price $250,000 | 20% down = $50,000 | FHA 3.5% down = $8,750 | Closing costs ~$6,250 | Property tax 0.98% | No attorney required.
Frequently Asked Questions
How much do I need to buy a house in North Dakota?
For North Dakota's median home ($250,000): FHA minimum down payment is $8,750 (3.5%), plus $6,250 in closing costs. Total minimum: ~$15,000. With 20% down to avoid PMI: ~$56,250.
What are closing costs in North Dakota?
North Dakota closing costs average 2.5% of the home price, or about $6,250 on the median home. This includes title insurance, appraisal, origination fees, recording fees, and optional attorney fees. Transfer taxes are 0%.
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