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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 August 22, 2019
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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.

How Do Today's Concord, NC Mortgage Rates Compare?

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%

Mortgage Program
Today's
Concord, NC Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.600%
15 Year Fixed Rate
B.BBB%
3.050%
5/1 Adjustable Rate Mortgage
C.CCC%
3.360%

How Affordable is Housing in Concord, North Carolina?

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

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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: $484,350
2 units: $620,200
3 units: $749,650
4 units: $931,600

FHA loan limits for Concord, NC

1 unit: $317,400
2 units: $406,300
3 units: $491,150
4 units: $610,400

VA loan limits for Concord, NC

1 unit: $484,350

Additional Mortgage Resources for Concord, NC Residents

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Sources

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