Compare mortgage rates and fees for leading lenders in Mooresville, 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 Mooresville.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Mooresville. Plus, shopping lenders is free and there is no obligation.
April 6, 2020
The current average rate for a 30 year fixed rate mortgage in Mooresville 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 Mooresville. Understand how much you need to earn to afford a home in Mooresville, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Mooresville 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 Mooresville is right for you.
The median home value for Mooresville, NC (Iredell County) is $209,433
Based on current mortgage rates and a 10% down payment, you need to make $37,693 per year to buy the median priced home in Mooresville
With this income, you could qualify for a $188,490 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 Mooresville is $873
The median household income for Mooresville, NC (Iredell County) is $59,015
Based on this income, you can afford a home valued at approximately $327,906
The home price you can afford to buy based on household income in Mooresville is 157% of the median home value which means housing prices are average. Mooresville (Iredell County) ranks 58 out of 100 counties in North Carolina and 2,417 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Mooresville, NC is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Mooresville (Iredell County) below.
Conforming loan limits for Mooresville, NC
FHA loan limits for Mooresville, NC
VA loan limits for Mooresville, NC