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North Carolina mortgage calculator

The median home in North Carolina runs about $330,000. With 20% down that's a loan near $264,000 — the calculator is pre-filled with that figure. North Carolina charges a 3% highway-use tax instead of standard sales tax on vehicles, and pairs a below-average property tax rate with strong price growth in Charlotte, Raleigh, and the mountains.

$1,714.05 / month

Total interest
$353,063
Total paid
$617,063
Payoff
30.0 years
Balance over YearBalance ends near $0 at 30.$0$66k$132k$198k$264k0612182430Year

How it works

A full North Carolina payment is more than principal and interest. At the state's 0.80% effective property tax rate, a $330,000 home owes about $2,640 a year in tax, and homeowners insurance averages roughly $1,900 a year here. Together those add about $378 to the monthly payment before any HOA dues or PMI.

North Carolina's median household income is about $70,000, or $5,833 a month. Lenders generally want the full housing payment under about 28% of that — roughly $1,633 — which is why a median-priced home is comfortable in some metros and a stretch in others. Homes in North Carolina sell in about 40 days on average.

Frequently asked questions

What is a typical mortgage payment in North Carolina?
On the state's roughly $330,000 median home with 20% down, the loan is about $264,000. Principal and interest depend on your rate; on top of that, North Carolina's 0.80% effective property tax rate and about $1,900 a year in homeowners insurance add roughly $378 per month to the payment.
How much are property taxes on a home in North Carolina?
North Carolina's effective property tax rate averages about 0.80% of market value — roughly $2,640 a year on the $330,000 median home. Your county sets the actual rate and may assess below market value.
Is homeowners insurance expensive in North Carolina?
The average North Carolina homeowners policy runs about $1,900 a year. North Carolina charges a 3% highway-use tax instead of standard sales tax on vehicles, and pairs a below-average property tax rate with strong price growth in Charlotte, Raleigh, and the mountains.
Can I afford a home in North Carolina on the median income?
North Carolina's median household income is about $70,000 a year, or $5,833 a month. Lenders generally want the full housing payment under about 28% of that — roughly $1,633 — so a median-priced home is a stretch in the pricier metros.
How fast do homes sell in North Carolina?
A for-sale home in North Carolina spends about 40 days on the market on average, though this varies widely by metro and season.

Learn more: Understanding your mortgage payment

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