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.
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%
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
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
FHA loan limits for Burlington, NC
VA loan limits for Burlington, NC
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