15-Year Fixed Mortgage Refinance Interest Rates in West Fargo, ND

Compare mortgage rates in West Fargo, North Dakota

Showing results for: 15-Year Fixed refinance offers for Single Family or Townhome properties in ND, total loan amount of $228,000.

Advertiser Disclosure

Filters

Lender	APR / Rate	Monthly Payment

Rate data provided by RateUpdate.com. Displayed by ICB, a division of Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Rates and fees are estimates and subject to change without notice. Payments do not include taxes and insurance premiums. Actual payments may be higher. Not all lenders participate in this marketplace. Loan availability and terms may vary by state and lender. Lender offers, including badges like “Lowest APR” or “Lowest Payment,” are based only on results displayed here and may not reflect the absolute lowest offer available in the market. Rate and product details

Should I Refinance from 30-Year to 15-Year in West Fargo?

In West Fargo's hot market with 15.6% appreciation, refinancing to a 15-year term accelerates both forced and natural equity building. On a $226,560 loan, switching from 30-year at 7% to 15-year at 6.5% increases your payment from $1,507 to $1,974/month-a $467 increase. However, you'll save $187k in interest over the loan's life and build equity twice as fast. Combined with West Fargo's rapid appreciation, this strategy maximizes wealth building for homeowners who can afford higher payments.

How Much More Will My Payments Be with a 15-Year Refi in West Fargo?

Refinancing $226,560 from 30-year (7%) to 15-year (6.5%) increases your principal and interest payment by $467/month. Including West Fargo's $231/month property tax at 0.98%, your total PITI jumps from approximately $1,888 to $2,355. Can you afford the increase? If your West Fargo home appreciated from $283,200 to $325,680, refinancing to 15-year builds equity even faster, compounding with market growth.

How Fast Will I Build Equity with a 15-Year Refi in West Fargo?

Dramatically faster than 30-year loans. In the first year of a 15-year mortgage at 6.5%, approximately $12,461 of your $1,974 monthly payment goes to principal -versus only $4,531 monthly on a 30-year. Add West Fargo's 15.6% appreciation ($44,179/year on median homes), and your total equity grows $193,709 in year one. By year 5: over $969k in combined equity.

What Are 15-Year Refinance Closing Costs in West Fargo?

Expect $4,531-$6,797 (2-3% of loan amount) for 15-year refinancing in West Fargo. On a $226,560 loan, that's approximately $5,664. While the monthly payment increase is $467, you're not "losing" that money-it goes to principal, building equity. The true benefit: $187k interest savings over the loan's life. With West Fargo's hot market appreciation, you're building wealth on two fronts: accelerated paydown + market gains.