»
»
Durham

Current Mortgage Rates in Durham, North Carolina

Compare mortgage rates and fees for leading lenders in Durham, 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 Durham.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Durham. Plus, shopping lenders is free and there is no obligation.

%
Mortgage Rates in Durham, NC as of September 18, 2020
  • Lender
  • APR
  • Loan Type
  • Rate
  • Payment
  • Fees
  • Contact
Data provided by Brown Bag Marketing, Inc. Payments do not include amounts for taxes and insurance premiums. Read through our lender table disclaimer for more on rates and product details.
PERSONALIZED MORTGAGE QUOTE

$
LEADING LENDERS ● LOW RATES ● FREE ● NO SSN

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

September 18, 2020

The current average rate for a 30 year fixed rate mortgage in Durham 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
Durham, NC Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.650%
15 Year Fixed Rate
B.BBB%
3.090%
5/1 Adjustable Rate Mortgage
C.CCC%
3.390%

How Affordable is Housing in Durham, North Carolina?

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

The median home value for Durham, NC is $269,504

Based on current mortgage rates and a 10% down payment, you need to make $48,504 per year to buy the median priced home in Durham

With this income, you could qualify for a $242,554 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 Durham is $1,123

The median household income for Durham, NC is $59,474

Based on this income, you can afford a home valued at approximately $330,461

The home price you can afford to buy based on household income in Durham is 123% of the median home value which means housing prices are average. Durham ranks 90 out of 100 counties in North Carolina and 2,834 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Durham, NC is average

orange-simple-house
ruler

Loan Limits for Durham, North Carolina

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Durham below.

Conforming loan limits for Durham, NC

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

FHA loan limits for Durham, NC

1 unit: $414,000
2 units: $530,000
3 units: $640,650
4 units: $796,150

VA loan limits for Durham, NC

1 unit: $510,400

Additional Mortgage Resources for Durham, NC Residents

Mortgage Rates for North Carolina Cities

Asheville Mortgage Rates

Burlington Mortgage Rates

Chapel Hill Mortgage Rates

Charlotte Mortgage Rates

Clayton Mortgage Rates

Concord Mortgage Rates

Durham Mortgage Rates

Fayetteville Mortgage Rates

Gastonia Mortgage Rates

Goldsboro Mortgage Rates

Greensboro Mortgage Rates

Greenville Mortgage Rates

Harnett Mortgage Rates

Hendersonville Mortgage Rates

Hickory Mortgage Rates

High Point Mortgage Rates

Jacksonville Mortgage Rates

Leland Mortgage Rates

Lumberton Mortgage Rates

Monroe Mortgage Rates

Mooresville Mortgage Rates

New Bern Mortgage Rates

Raleigh Mortgage Rates

Salisbury Mortgage Rates

Thomasville Mortgage Rates

Wilmington Mortgage Rates

Winston Salem Mortgage Rates