Mortgage for North Carolina (2026)
North Carolina (NC) Key Facts
Median Home Price
$325,000
Average Property Tax Rate
0.84%
Average Home Insurance Rate
0.6%
Estimated Monthly Payment
$2,287
First Time Buyer Programs
2
How This Calculator Works in North Carolina
This mortgage calculator lets you estimate your monthly payment on a North Carolina home by factoring in the purchase price, down payment, interest rate, property taxes, and insurance. It is pre-loaded with North Carolina's average property tax rate and insurance costs so you can get a realistic estimate quickly. Adjust the inputs to match your specific situation and see how different scenarios affect your monthly budget.
North Carolina Overview
North Carolina has a median home price of approximately $320K, with an average property tax rate of 0.84% and homeowners insurance averaging 0.6% annually. Excise tax of $1 per $500. NCHFA NC Home Advantage Mortgage and other state programs can help first-time buyers with down payment assistance and competitive mortgage rates.
How North Carolina Compares
Compared to neighboring states, North Carolina's median home price of $325,000 is below the national median of about $420,000. Nearby South Carolina has a median price of $290,000 with a 0.57% property tax rate. Property tax rates vary significantly among neighboring states, which can substantially impact long-term homeownership costs.
| State | Top Rate | Notes |
|---|---|---|
| South Carolina | $290,000 | Median home price is $290,000 with a 0.57% property tax rate. Estimated monthly mortgage payment is about $2,000. |
| Virginia | $380,000 | Median home price is $380,000 with a 0.82% property tax rate. Estimated monthly mortgage payment is about $2,636. |
| Tennessee | $310,000 | Median home price is $310,000 with a 0.71% property tax rate. Estimated monthly mortgage payment is about $2,174. |
The median home price in North Carolina is $325,000, compared to the national median of approximately $420,000. With a 0.84% average property tax rate and 0.6% insurance rate, North Carolina homeowners can expect an estimated monthly payment of about $2,287 on a median-priced home with 10% down at 6.75% interest.
Tips for North Carolina Residents
- 1North Carolina has a median home price around $320K. Excise tax of $1 per $500. Research local market conditions as prices vary significantly by city and neighborhood.
- 2Property taxes in North Carolina average 0.84%. Always verify your specific county's tax rate, as it directly impacts your monthly payment.
- 3Explore NCHFA NC Home Advantage Mortgage for potential down payment assistance and favorable rates. North Carolina also offers NC 1st Home Advantage Down Payment. Check income limits and eligibility early in your home search.
- 4Growing markets in Charlotte and Raleigh-Durham; moderate closing costs. Budget 2-5% of the purchase price for closing costs including lender fees, title insurance, and prepaid expenses.
- 5NC Home Advantage offers up to 5% down payment assistance. A 0.25% rate difference on a $325K home can save thousands over the life of your loan, so shop at least 3-4 lenders before committing.
Frequently Asked Questions
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