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Chapel Hill

Compare Current Chapel Hill, North Carolina Mortgage Rates

Compare Chapel Hill, NC mortgage rates and fees from top lenders. 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 lowest mortgage rates in Chapel Hill.

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

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Chapel Hill, NC Mortgage Rates as of April 25, 2024
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Input your information to receive personalized mortgage quotes from preferred lenders. Comparing proposals from multiple lenders is the best way to save money on your mortgage.

Rate data provided by RateUpdate.com. Displayed by ICB, a division of Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Payments do not include taxes or insurance premiums. Actual payments will be greater with taxes and insurance included. Read through our lender table disclaimer for more information on rates and product details.

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Compare Today's Chapel Hill, NC Mortgage Rates

April 25, 2024

Current mortgage rates in Chapel Hill, NC are % for a 30 year fixed rate loan, % for a 15 year fixed loan and % for a 5/1 adjustable rate mortgage (ARM)

Mortgage Program
Today's
Chapel Hill, NC Rates
National
Average
Comparison
30 Year Fixed Rate
%
6.669%
15 Year Fixed Rate
%
5.960%
5/1 Adjustable Rate Mortgage
%
6.250%

How Affordable is Housing in Chapel Hill, North Carolina?

Below we provide helpful information on the real estate market, home prices and housing affordability in Chapel Hill. Understand how much you need to earn to afford a home in Chapel Hill, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Chapel Hill fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Chapel Hill is right for you.

The median home value for Chapel Hill, NC (Orange County) is $438,249

Based on current mortgage rates and a 10% down payment, you need to make $91,426 per year to buy the median priced home in Chapel Hill

With this income, you could qualify for a $394,424 mortgage, assuming your monthly debt expense is reasonable

Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Chapel Hill is $2,117

The median household income for Chapel Hill, NC (Orange County) is $81,466

Based on this income, you can afford a home valued at approximately $390,508

The home price you can afford to buy based on household income in Chapel Hill is 89% of the median home value which means housing prices are expensive. Chapel Hill (Orange County) ranks 96 out of 100 counties in North Carolina and 2,920 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Chapel Hill, NC is expensive

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Loan Limits for Chapel Hill, North Carolina

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

Conforming loan limits for Chapel Hill, NC

1 unit: $726,200
2 units: $929,850
3 units: $1,123,900
4 units: $1,396,800

FHA loan limits for Chapel Hill, NC

1 unit: $602,600
2 units: $771,450
3 units: $932,500
4 units: $1,158,850

VA loan limits for Chapel Hill, NC

1 unit: $726,200

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