Menu burger Close thin Facebook Twitter Google plus Linked in Reddit Email arrow-right-sm arrow-right
Loading
Tap on the profile icon to edit
your financial details.

North Carolina Mortgage Rates

Your Details Done

Use SmartAsset's mortgage rate comparison tool to compare mortgage rates from the top lenders and find the one that best suits your needs.

Overview of North Carolina Mortgages

From scenic coastlines to the Great Smoky Mountains and everywhere in between, North Carolina offers a number of beautifully diverse places to call home. Historically, North Carolina mortgage rates are right in line with national average rates. The state's county-level conforming loan and FHA limits are mostly standard, though there are some exceptions.

Today's Mortgage Rates in North Carolina

Product Today Last Week Change
30 year fixed 5.13% 5.18% -0.06
15 year fixed 4.38% 4.38% 0.00
5/1 ARM 5.25% 5.25% 0.00
30 yr fixed mtg refi 5.21% 5.25% -0.04
15 yr fixed mtg refi 4.53% 4.53% 0.00
7/1 ARM refi 5.38% 5.44% -0.06
15 yr jumbo fixed mtg refi 3.00% 3.05% -0.04

National Mortgage Rates

Source: Freddie Mac Primary Mortgage Market Survey, SmartAsset Research
Details
Add your details
Purchase or Refinance
Select Purchase or Refinance
Do this later
Dismiss
Add your details
Location
Location
Enter your location Do this later
Dismiss
Add your details
Target Home Price
Target Home Value
Enter target home value
Do this later
Dismiss
Add your details
Down Payment
Down Payment
Enter down payment
$0
Do this later
Dismiss
Add your details
Current Home Value
Current Home Value
Enter current home value
Do this later
Dismiss
Add your details
Current Mortgage Balance
Current Mortgage Balance
Enter current mortgage balance
Do this later
Dismiss
Add your details
Credit Score
Credit Rating
Select Your Credit Rating Do this later
Dismiss
Lender
APR
Payment
No mortgages found. Please change your search criteria and try again.
Searching for Mortgages...
Disclosure
Share Your Feedback
How would you rate your experience using SmartAsset’s financial advisor matching service so far?
What is the most important reason for that score? (optional)
Please limit your response to 150 characters or less.
Thank you for your answer! Your feedback is very important to us.

Historical Mortgage Rates in North Carolina

Photo Credit: ©iStock.com/Kenneth Wiedemann

North Carolina Mortgage Rates Quick Facts

  • Median Home Value: $193,200 (U.S. Census Bureau)
  • Loan Funding Rate: 57.51% (CFPB)
  • Homeownership Rate: 68.7% (St. Louis Fed)
  • Median Monthly Homeownership Costs: $1,314 (U.S. Census Bureau)

North Carolina’s landscape is as unique as its cities. The state’s borders stretch from the Appalachian Mountains to the Atlantic Ocean coastline, encompassing Raleigh’s N.C. State University, Durham’s Duke University, Chapel Hill’s University of North Carolina and Charlotte’s Discovery Place and NASCAR Hall of Fame. It is also one of the nation’s top-10 most populous states.

As for the mortgage market here, North Carolinian buyers can expect mortgage rates that are even with national averages.

A financial advisor in North Carolina can help you plan for the homebuying process. Financial advisors can also help with investing and financial plans, including tax, retirement and estate planning, to make sure you are preparing for the future.

North Carolina Historic Mortgage Rates*

YearNorth Carolina RateU.S. Rate
20007.887.86
20016.876.94
20026.436.44
20035.725.67
20045.765.68
20055.935.85
20066.496.54
20076.326.42
20085.996.06
20094.965.05
20104.744.81
20114.494.56
20123.613.65
20133.803.84
20144.144.13
20153.903.88
20163.733.73
20174.024.03
20184.584.56

*The FHFA stopped reporting new data in 2018.

North Carolina Mortgages Overview

Tar Heel State home values are less overall than the rest of the nation, with a statewide median home value of $193,200. This is below the nation’s median of $240,500.

The conforming limits for North Carolina counties are all the standard $647,200. There is more variation among the counties’ FHA loan limits, which range from $420,680 to $805,000.

Conforming and FHA Loan Limits by County

CountyConforming LimitFHA Limit
Alamance$647,200 $420,680
Alexander$647,200$420,680
Alleghany$647,200$420,680
Anson$647,200$420,680
Ashe$647,200$420,680
Avery$647,200$420,680
Beaufort$647,200$420,680
Bertie$647,200$420,680
Bladen$647,200$420,680
Brunswick$647,200$420,680
Buncombe$647,200$420,680
Burke$647,200$420,680
Cabarrus$647,200$420,680
Caldwell$647,200$420,680
Camden$647,200$488,750
Carteret$647,200$420,680
Caswell$647,200$420,680
Catawba$647,200$420,680
Chatham$647,200$506,000
Cherokee$647,200$420,680
Chowan$647,200$420,680
Clay$647,200$420,680
Cleveland$647,200$420,680
Columbus$647,200$420,680
Craven$647,200$420,680
Cumberland$647,200$420,680
Currituck$647,200$488,750
Dare$647,200$471,500
Davidson$647,200$420,680
Davie$647,200$420,680
Duplin$647,200$420,680
Durham$647,200$506,000
Edgecombe$647,200$420,680
Forsyth$647,200$420,680
Franklin$647,200$420,680
Gaston$647,200$420,680
Gates$647,200$488,750
Graham$647,200$420,680
Granville$647,200$506,000
Greene$647,200$420,680
Guilford$647,200$420,680
Halifax$647,200$420,680
Harnett$647,200$420,680
Haywood$647,200$420,680
Henderson$647,200$420,680
Hertford$647,200$420,680
Hoke$647,200$420,680
Hyde$647,200$483,000
Iredell$647,200$420,680
Jackson$647,200$420,680
Johnston$647,200$420,680
Jones$647,200$420,680
Lee$647,200$420,680
Lenoir$647,200$420,680
Lincoln$647,200$420,680
Mcdowell$647,200$420,680
Macon$647,200$420,680
Madison$647,200$420,680
Martin$647,200$420,680
Mecklenburg$647,200$420,680
Mitchell$647,200$420,680
Montgomery$647,200$420,680
Moore$647,200$420,680
Nash$647,200$420,680
New Hanover$647,200$420,680
Northampton$647,200$420,680
Onslow$647,200$420,680
Orange$647,200$506,000
Pamlico$647,200$420,680
Pasquotank$647,200$805,000
Pender$647,200$420,680
Perquimans$647,200$805,000
Person$647,200$506,000
Pitt$647,200$420,680
Polk$647,200$420,680
Randolph$647,200$420,680
Richmond$647,200$420,680
Robeson$647,200$420,680
Rockingham$647,200$420,680
Rowan$647,200$420,680
Rutherford$647,200$420,680
Sampson$647,200$420,680
Scotland$647,200$420,680
Stanly$647,200$420,680
Stokes$647,200$420,680
Surry$647,200$420,680
Swain$647,200$420,680
Transylvania$647,200$420,680
Tyrrell$647,200$420,680
Union$647,200$420,680
Vance$647,200$420,680
Wake$647,200$420,680
Warren$647,200$420,680
Washington$647,200$420,680
Watauga$647,200$420,680
Wayne$647,200$420,680
Wilkes$647,200$420,680
Wilson$647,200$420,680
Yadkin$647,200$420,680
Yancey$647,200$420,680

Lenders in North Carolina typically do not have to go to court to foreclose on a home when the owner has fallen behind on payments. Homebuyers in the state will likely get a deed of trust which allows lenders to bypass a judicial foreclosure and instead initiate a power of sale foreclosure by simply hiring a third party to auction the home. While you are probably not planning to buy a home with the intention of going into foreclosure in the future, it is best to be aware of where you stand and what you can expect if your circumstances were to change for the worse.

North Carolina state law requires home sellers to provide buyers with a disclosure form listing details on the property. This list should include information on the plumbing, electrical, water supply source, environmental conditions like asbestos and any homeowners’ association fees and services. The purpose of these disclosures is to protect buyers, but a home inspection is always a smart idea to protect the integrity of the sale. A quality home inspection gives you the peace of mind of knowing your home isn’t harboring any secrets that could cost you thousands down the line.

30-Year Fixed Mortgage Rates in North Carolina

If you are buying a home in North Carolina, the first home loan option you need to be aware of is a 30-year fixed-rate mortgage. Buyers have 30 years to pay off this loan unless they make prepayments or decide to refinance. It is a very reliable option because the interest rate remains the same for the duration of the loan which makes it easier to budget for monthly payments. You can also get a 15-year fixed-rate mortgage which will allow you to pay off your debt quicker and you will pay less interest but your monthly payments will be higher.

The average North Carolina rate for a fixed 30-year mortgage is 3.45% (Zillow, Jan. 2022).

North Carolina Jumbo Loan Rates

North Carolina county conforming loan limits are set at $647,200. If you need to take out a home loan in North Carolina that exceeds the conforming loan limit in that particular county, you will be taking on what is considered a jumbo loan. Conforming loans can be re-sold on the secondary mortgage market and they qualify for normal interest rates. Jumbo loans are riskier for lenders because more money is at stake, as such they come with higher interest rates. Note that jumbo loan rates are currently lower than fixed rates in North Carolina.

The average 30-year fixed jumbo loan rate in North Carolina is 3.27% (Zillow, Jan. 2022).

North Carolina ARM Loan Rates

An adjustable-rate mortgage (ARM) typically offers a lower initial interest rate than a fixed-rate mortgage. That rate is available for one, three, five, seven or 10 years (for a 30 year overall loan). When that initial period ends the rate can increase or decrease once per year. The rate usually increases.

One plus of an adjustable-rate mortgage is that the interest rate can’t suddenly jump to a level that is extremely high. The interest rate is capped at a certain amount, specified in the loan’s terms, protecting you from that scenario. Before deciding on an ARM, though, you should weigh the potential maximum interest rate carefully to see if it’s one that you can afford to pay or not.

The average rate for a 5/1 ARM in North Carolina is 2.75% (Zillow, Jan. 2022).

North Carolina Mortgage Resources

Certain North Carolinian homebuyers have a couple options when it comes to funding a home purchase.

The North Carolina Housing Finance Agency offers mortgages that come with down payment assistance for up to $8,000. First-time and move-up homebuyers can both apply for that program, which is called the NC Home Advantage Mortgage™. The NC Housing Finance Agency also provides eligible first-time buyers and military veterans with Mortgage Credit Certificates for up to $2,000 in tax savings per year.

Available Resources

ResourceProblem or IssueWho Qualifies
North Carolina Housing Finance AgencyDown payment assistance and Mortgage Credit Certificate.First-time homebuyers, move-up homebuyers and military veterans.
USDA Rural Development - Single family loansOffers payment assistance to increase an applicant’s repayment ability.Applicants must be without decent, safe and sanitary housing; Be unable to obtain a loan from other resources on terms and conditions that can reasonably be expected to meet; Agree to occupy the property as your primary residence; Have the legal capacity to incur a loan obligation; Meet citizenship or eligible noncitizen requirements; Not be suspended or debarred from participation in federal programs.

If you live in a rural area of the state, you may be eligible for a loan or grant from the United States Department of Agriculture Rural Development. The USDA has programs across with the nations which target rural communities, with the goal of helping residents obtain affordable housing. It is worth seeing if you qualify for the USDA rural development offers.

North Carolina Mortgage Taxes

North Carolina, like most states, charges real estate transfer taxes. That tax is $1 per $500, or 0.20%. Certain areas may also increase that tax up to 0.4%. In North Carolina, the seller typically pays this fee.

Another perk of being a homeowner is that you can deduct the mortgage interest that you pay throughout the year from your taxable income when you are filing your federal income taxes. This deduction also applies for North Carolina state income taxes, as the state’s rules are similar to the federal guidelines for itemized deductions.

North Carolina Mortgage Refinance

North Carolina homeowners who want to refinance should keep in mind that they are not obligated to work with the lender who issued their original mortgage. They should feel free to compare rates from different lenders.

Homeowners in North Carolina used to have the Home Affordable Refinance Program (HARP) to help them refinance. However, it has now been retired, with the High Loan-to-Value Refinance Option from Fannie Mae taking over.