Mortgage Rates In North Carolina

Mortgage Rates In North Carolina

Mortgage rates in North Carolina are constantly changing, so it is important to check with a lender to get the most up-to-date information.

5%

1%

5%

1421

Monthly Payment

Principal & Interest 1421

Monthly Taxes 1421

Monthly HOA 1421

Monthly Insurance 1421

As of July 29, 2023, the average 30-year fixed-rate mortgage rate in NC is 5.60%. This is up from 5.56% yesterday and 3.11% a year ago. The average interest rate on a 15-year fixed-rate mortgage is 4.99%, up from 4.98% yesterday and 2.53% a year ago.

Mortgage rates in North Carolina

Average Monthly Mortgage Payment In North Carolina

As of July 29, 2023, the average monthly mortgage payment in North Carolina is $1,554. This is based on a 30-year fixed-rate mortgage with a 20% down payment. The average home price in North Carolina is $350,000.


The monthly mortgage payment can vary depending on a number of factors, including the interest rate, the loan term, the down payment, and the property taxes. For example, if the interest rate were to increase by 1%, the monthly mortgage payment would increase by about $50.

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North Carolina Mortgage Programs

North Carolina mortgage programs are government-backed programs that help homebuyers purchase a home with little or no down payment. These programs can be a great way to get into the housing market if you don't have a lot of money saved up for a down payment.

There are a few different government-backed mortgage programs available in North Carolina, including:

NC Home Advantage Mortgage: This program is offered by the North Carolina Housing Finance Agency (NCHFA). It provides up to 5% down payment assistance for first-time homebuyers who meet certain income and credit requirements.

NC Home Advantage Down Payment Assistance Plus: This program is also offered by NCHFA. It provides up to 10% down payment assistance for first-time homebuyers who meet certain income and credit requirements.

NC Rural Development Single Family Housing Guaranteed Loan: This program is offered by the U.S. Department of Agriculture (USDA). It provides 100% financing for first-time homebuyers who meet certain income and property requirements.

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Lowest Mortgage Rates In NC

Here are the lowest mortgage rates in NC as of July 29, 2023:

  • 30-year fixed-rate mortgage: 5.60%
  • 15-year fixed-rate mortgage: 4.99%
  • 5-year adjustable-rate mortgage: 4.34%
  • 7-year adjustable-rate mortgage: 4.59%
  • 10-year adjustable-rate mortgage: 4.74%

These rates are from a variety of lenders and may vary depending on your individual circumstances. It is important to shop around and compare rates before you choose a mortgage. [Mortgage rates in North Carolina]

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Current Mortgage Rates Charlotte, NC

Mortgage rates in Charlotte, NC are currently at 5.60% for a 30-year fixed-rate mortgage. This is up from 5.56% yesterday and 3.11% a year ago. The average interest rate on a 15-year fixed-rate mortgage is 4.99%, up from 4.98% yesterday and 2.53% a year ago. [Mortgage rates in North Carolina]

First-Time Home Buyer Programs Charlotte NC

There are a few different first-time home buyer programs available in Charlotte, NC, including the NC Home Advantage Mortgage and the NC Home Advantage Down Payment Assistance Plus program.

These programs offer down payment assistance to first-time homebuyers who meet certain income and credit requirements. [Mortgage rates in North Carolina]

First-Time Home Buyer Programs Available Durham, NC

There are also a few different first-time home buyer programs available in Durham, NC, including the Durham Homeownership Initiative and the Durham Neighbor Works Homebuyer Assistance Program.

These programs offer down payment assistance and other financial assistance to first-time homebuyers who meet certain income and credit requirements.

North Carolina Mortgage Laws

North Carolina has a number of mortgage laws that protect borrowers. These laws include:

The Home Ownership and Equity Protection Act (HOEPA): This law limits the amount of fees that lenders can charge on high-cost mortgages.

The Real Estate Settlement Procedures Act (RESPA): This law requires lenders to provide borrowers with certain disclosures about their mortgage, including the closing costs.

The North Carolina Fair Lending Act: This law prohibits lenders from discriminating against borrowers on the basis of race, color, religion, national origin, sex, marital status, familial status, age. [Mortgage rates in North Carolina]

Mortgage rates in North Carolina-FAQs:

How much money do I need to buy a house in NC?

Depends on the price of the house, down payment, and interest rate.

How to easily calculate mortgage payment?

Use online calculators or ask a lender.

How to buy a house for the first time in NC?

Get help from a real estate agent or the NC Housing Finance Agency.

Is property expensive in North Carolina?

Depends on the location.

Is NC a cheap state to live in?

Yes, relatively speaking.

Where is the cheapest property in North Carolina?

Rural areas.

Mortgage Rates In North Carolina

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