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Concord

Current Mortgage Rates in Concord, North Carolina

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.

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Mortgage Rates in Concord, NC as of January 20, 2020
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Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click for more information on rates and product details.
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How Do Today's Concord, NC Mortgage Rates Compare?

January 20, 2020

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%

Mortgage Program
Today's
Concord, NC Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.690%
15 Year Fixed Rate
B.BBB%
3.150%
5/1 Adjustable Rate Mortgage
C.CCC%
3.350%

How Affordable is Housing in Concord, North Carolina?

Below we provide helpful information on the real estate market, home prices and housing affordability in Concord. Understand how much you need to earn to afford a home in Concord, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Concord 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 Concord is right for you.

The median home value for Concord, NC (Cabarrus County) is $248,790

Based on current mortgage rates and a 10% down payment, you need to make $44,776 per year to buy the median priced home in Concord

With this income, you could qualify for a $223,911 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 Concord is $1,037

The median household income for Concord, NC (Cabarrus County) is $64,034

Based on this income, you can afford a home valued at approximately $355,793

The home price you can afford to buy based on household income in Concord is 143% of the median home value which means housing prices are average. Concord (Cabarrus County) ranks 72 out of 100 counties in North Carolina and 2,622 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

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Loan Limits for Concord, North Carolina

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

1 unit: $510,400
2 units: $653,550
3 units: $789,950
4 units: $981,700

FHA loan limits for Concord, NC

1 unit: $331,760
2 units: $424,800
3 units: $513,450
4 units: $638,100

VA loan limits for Concord, NC

1 unit: $510,400

Additional Mortgage Resources for Concord, NC Residents

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