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Burlington

Current Mortgage Rates in Burlington, North Carolina

Compare mortgage rates and fees for leading lenders in Burlington, NC. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lender offering the best mortgage rates in Burlington.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Burlington. Plus, shopping lenders is free and there is no obligation.

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Mortgage Rates in Burlington, NC as of December 16, 2019
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Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click for more information on rates and product details.

How Do Today's Burlington, NC Mortgage Rates Compare?

December 16, 2019

The current average rate for a 30 year fixed rate mortgage in Burlington is A.AAA%, the rate for a 15 year fixed rate mortgage is B.BBB% and the rate for a 5/1 adjustable rate mortgage (ARM) is C.CCC%

Mortgage Program
Today's
Burlington, NC Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.690%
15 Year Fixed Rate
B.BBB%
3.150%
5/1 Adjustable Rate Mortgage
C.CCC%
3.350%

How Affordable is Housing in Burlington, North Carolina?

The median home value for Burlington, NC (Alamance County) is $171,179

The median household income for Burlington, NC (Alamance County) is $45,635

Based on current mortgage rates and a 10% down payment, you need to make $31,759 per year to buy the median priced home in Burlington

The home price you can afford to buy based on household income in Burlington is 144% of the median home value which means housing prices are average

Burlington (Alamance County) ranks 73 out of 100 counties in North Carolina and 2,625 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Burlington, NC is average

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Loan Limits for Burlington, North Carolina

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Burlington (Alamance County) below.

Conforming loan limits for Burlington, NC

1 unit: $484,350
2 units: $620,200
3 units: $749,650
4 units: $931,600

FHA loan limits for Burlington, NC

1 unit: $314,827
2 units: $403,125
3 units: $487,250
4 units: $605,525

VA loan limits for Burlington, NC

1 unit: $484,350

Additional Mortgage Resources for Burlington, NC Residents

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Sources

US Census Bureau American Community Survey: https://www.census.gov/programs-surveys/acs

FHFA House Price Index: https://www.fhfa.gov/DataTools/Downloads/Pages/House-Price-Index-Datasets.aspx#qat

Income Growth: https://www.bls.gov

National Average Rates: http://www.freddiemac.com/pmms/

Conforming Loan Limits: https://www.fhfa.gov/DataTools/Downloads/Pages/Conforming-Loan-Limits.aspx

FHA Loan Limits: https://entp.hud.gov/idapp/html/hicostlook.cfm

VA Loan Limits: https://www.benefits.va.gov/homeloans/purchaseco_loan_limits.asp

FREEandCLEAR Housing Affordability Index