Compare mortgage rates and fees for leading lenders in Fayetteville, 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 Fayetteville.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Fayetteville. Plus, shopping lenders is free and there is no obligation.
April 2, 2020
The current average rate for a 30 year fixed rate mortgage in Fayetteville 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 Fayetteville. Understand how much you need to earn to afford a home in Fayetteville, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Fayetteville 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 Fayetteville is right for you.
The median home value for Fayetteville, NC (Cumberland County) is $163,190
Based on current mortgage rates and a 10% down payment, you need to make $29,370 per year to buy the median priced home in Fayetteville
With this income, you could qualify for a $146,871 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 Fayetteville is $680
The median household income for Fayetteville, NC (Cumberland County) is $47,181
Based on this income, you can afford a home valued at approximately $262,157
The home price you can afford to buy based on household income in Fayetteville is 161% of the median home value which means housing prices are average. Fayetteville (Cumberland County) ranks 52 out of 100 counties in North Carolina and 2,346 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Fayetteville, NC is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Fayetteville (Cumberland County) below.
Conforming loan limits for Fayetteville, NC
FHA loan limits for Fayetteville, NC
VA loan limits for Fayetteville, NC