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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 September 24, 2023
Loan terms assume conforming mortgage amount on single family residence, 80% LTV ratio and minimum borrower credit score of 740. $150,000 minimum mortgage amount. Borrower is responsible for $1,055 lender fee. Loan terms are subject to change without notice.
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Compare Today's Chapel Hill, NC Mortgage Rates
September 24, 2023
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
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7.190%
15 Year Fixed Rate
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6.540%
5/1 Adjustable Rate Mortgage
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6.750%
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
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
Additional Mortgage Resources for Chapel Hill, NC Residents