Compare mortgage rates and fees for leading lenders in Concord, 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 Concord.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Concord. Plus, shopping lenders is free and there is no obligation.
August 22, 2019
The current average rate for a 30 year fixed rate mortgage in Concord 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 Concord, NC (Cabarrus County) is $233,168
The median household income for Concord, NC (Cabarrus County) is $62,572
Based on current mortgage rates and a 10% down payment, you need to make $43,260 per year to buy the median priced home in Concord
The home price you can afford to by based on household income in Concord is 145% of the median home value which means housing prices are average
Concord (Cabarrus County) ranks 72 out of 100 counties in North Carolina and 2,613 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Concord, NC is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Concord (Cabarrus County) below.
Conforming loan limits for Concord, NC
FHA loan limits for Concord, NC
VA loan limits for Concord, 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