Compare mortgage rates and fees for leading lenders in Chapel Hill, 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 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.
December 11, 2019
The current average rate for a 30 year fixed rate mortgage in Chapel Hill 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 Chapel Hill, NC (Orange County) is $312,705
The median household income for Chapel Hill, NC (Orange County) is $67,525
Based on current mortgage rates and a 10% down payment, you need to make $58,017 per year to buy the median priced home in Chapel Hill
The home price you can afford to buy based on household income in Chapel Hill is 116% of the median home value which means housing prices are average
Chapel Hill (Orange County) ranks 94 out of 100 counties in North Carolina and 2,891 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 average
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
FHA loan limits for Chapel Hill, NC
VA loan limits for Chapel Hill, 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