North Carolina Mortgage Rates
Find the best North Carolina mortgage rates and Charlotte home loan options. Compare current NC mortgage rates, explore local lenders, and calculate your payments with our North Carolina-specific tools.
North Carolina Mortgage Calculator
Calculate your monthly mortgage payment using current North Carolina rates and local market data. Factor in North Carolina property taxes and insurance costs for accurate estimates.
North Carolina Mortgage Calculator
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Current North Carolina Mortgage Rates by Loan Type
30-Year Fixed Conventional
stable15-Year Fixed Conventional
downFHA 30-Year Fixed
stableVA 30-Year Fixed
downUSDA Rural Development
stable5/1 ARM
upNorth Carolina Housing Market Overview
Statewide Market Stats
Charlotte
Mecklenburg County
Raleigh
Wake County
Greensboro
Guilford County
Durham
Durham County
Winston-Salem
Forsyth County
Fayetteville
Cumberland County
Top Mortgage Lenders in North Carolina
First Citizens Bank
Special Programs:
- NC Dream Program
- First-time buyer assistance
- Construction loans
Strengths:
- Strong NC presence
- Local expertise
- Competitive rates
Considerations:
- Limited national presence
- Variable customer service
Bank of America
Special Programs:
- Affordable Loan Solution
- Community Homeownership Commitment
- VA loans
Strengths:
- Extensive branch network
- Wide variety of programs
- Strong digital platform
Considerations:
- Higher closing costs
- Complex underwriting process
Truist Bank (formerly BB&T)
Special Programs:
- Truist Affordable Lending Solutions
- Community Development loans
- Jumbo loans
Strengths:
- Regional expertise
- Personal service
- Community focus
Considerations:
- Merger integration challenges
- Slower processing times
Wells Fargo
Special Programs:
- First-time buyer programs
- Down payment assistance
- Investment property loans
Strengths:
- National presence
- Variety of programs
- Good technology
Considerations:
- Higher fees
- Slower processing
- Less personal service
North Carolina Credit Unions
Special Programs:
- Member benefits
- First-time buyer programs
- Local community loans
Strengths:
- Personal service
- Lower fees
- Member-focused
Considerations:
- Membership requirements
- Limited product options
North Carolina Homebuyer Programs & Incentives
North Carolina Housing Finance Agency (NCHFA)
North Carolina Housing Finance Agency
Program Benefits
- Below-market interest rates
- Down payment assistance loans
- NC 1st Home Program
- Closing cost assistance available
Application Process:
Through participating NCHFA approved lenders
Eligibility Requirements
- First-time homebuyer (or not owned home in past 3 years)
- Primary residence in North Carolina
- Complete homebuyer education course
- Meet income and purchase price limits by county
NC 1st Home Advantage Down Payment
NCHFA
Program Benefits
- Up to 5% down payment assistance
- Deferred payment (no monthly payment)
- 0% interest rate
- Forgiven after 15 years if still owner-occupied
Application Process:
Through NCHFA participating lenders only
Eligibility Requirements
- Must be used with NCHFA first mortgage
- Property must remain primary residence
- Cannot be combined with other down payment assistance
- Borrower education course required
USDA Rural Development - North Carolina
USDA Rural Development North Carolina
Program Benefits
- No down payment required
- No monthly mortgage insurance
- Below-market interest rates
- Available in many NC rural areas
Application Process:
Through USDA approved lenders in North Carolina
Eligibility Requirements
- Property in USDA eligible area
- Income below area limits
- Primary residence only
- U.S. citizenship or permanent residency
North Carolina Counties Mortgage & Economic Data
Mecklenburg County (Charlotte)
Major Employers:
Wake County (Raleigh)
Major Employers:
Durham County
Major Employers:
Guilford County (Greensboro)
Major Employers:
Forsyth County (Winston-Salem)
Major Employers:
Cumberland County (Fayetteville)
Major Employers:
North Carolina Real Estate Market Trends & 2024 Outlook
Current Market Trends
- Research Triangle driving statewide technology sector growth
- Charlotte banking sector supporting financial services demand
- Military presence in eastern NC creating stable VA loan market
- Population migration from northern states increasing demand
- Strong university presence supporting rental and starter home markets
2024 Market Projections
Market Challenges
- Rapid price growth in Charlotte and Raleigh metro areas
- Limited inventory in desirable school districts
- Hurricane risk affecting coastal areas insurance costs
- Infrastructure strain from rapid population growth
Market Opportunities
- Strong job growth in technology and finance sectors
- Excellent first-time buyer programs through NCHFA
- Diverse geographic options from mountains to coast
- Growing retirement destination market
North Carolina Mortgage Rates FAQ
What are current mortgage rates in North Carolina?
Current North Carolina mortgage rates range from 6.205% for 5/1 ARM loans to 7.105% for 30-year fixed conventional loans. FHA rates average 6.855% while VA loans average 6.605%. Rates vary by lender, credit score, loan amount, and specific location within North Carolina.
What is the median home price in North Carolina?
The median home price in North Carolina is $295,000 as of 2024. Charlotte homes average $385,000, Raleigh averages $425,000, Durham $365,000, while smaller cities like Winston-Salem average $195,000, offering good affordability compared to national averages.
What North Carolina first-time homebuyer programs are available?
North Carolina offers NCHFA programs including NC 1st Home Advantage with down payment assistance up to 5%, below-market interest rate loans, and closing cost assistance. USDA rural loans are available for eligible areas, along with VA loans for veterans and FHA loans.
Which North Carolina counties have the best mortgage rates?
Mortgage rates are generally consistent statewide, but Charlotte (Mecklenburg), Raleigh (Wake), and Durham metro areas have the most lender competition, potentially offering better rate options due to strong economic growth and high concentrations of financial services.
How do North Carolina property taxes affect mortgage payments?
North Carolina property tax rates vary by county from 0.84% to 1.12% of assessed value. Wake County (Raleigh) has low rates at 0.84%, while Cumberland County (Fayetteville) has higher rates at 1.12%. Property taxes are typically included in monthly mortgage payments through escrow.
What credit score do I need for a North Carolina mortgage?
Minimum credit scores for North Carolina mortgages vary by loan type: Conventional loans typically require 620+, FHA loans accept scores as low as 580, VA loans often accept 580+, and NCHFA programs require 620+. Higher scores (740+) qualify for the best rates from NC lenders.
North Carolina Mortgage Resources
Ready to Buy a Home in North Carolina?
Use our North Carolina-specific mortgage calculator to estimate your payments with current rates, local taxes, and insurance costs. Explore North Carolina NCHFA programs for first-time buyers.