Compare mortgage rates and fees for leading lenders in Charlotte, 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 Charlotte.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Charlotte. Plus, shopping lenders is free and there is no obligation.
July 12, 2020
The current average rate for a 30 year fixed rate mortgage in Charlotte 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%
Below we provide helpful information on the real estate market, home prices and housing affordability in Charlotte. Understand how much you need to earn to afford a home in Charlotte, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Charlotte 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 Charlotte is right for you.
The median home value for Charlotte, NC (Mecklenburg County) is $280,009
Based on current mortgage rates and a 10% down payment, you need to make $50,394 per year to buy the median priced home in Charlotte
With this income, you could qualify for a $252,008 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 Charlotte is $1,167
The median household income for Charlotte, NC (Mecklenburg County) is $65,066
Based on this income, you can afford a home valued at approximately $361,530
The home price you can afford to buy based on household income in Charlotte is 129% of the median home value which means housing prices are average. Charlotte (Mecklenburg County) ranks 86 out of 100 counties in North Carolina and 2,785 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Charlotte, NC is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Charlotte (Mecklenburg County) below.
Conforming loan limits for Charlotte, NC
FHA loan limits for Charlotte, NC
VA loan limits for Charlotte, NC