Compare mortgage rates and fees for leading lenders in Salisbury, 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 Salisbury.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Salisbury. Plus, shopping lenders is free and there is no obligation.
October 23, 2019
The current average rate for a 30 year fixed rate mortgage in Salisbury 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%
The median home value for Salisbury, NC (Rowan County) is $138,970
The median household income for Salisbury, NC (Rowan County) is $48,414
Based on current mortgage rates and a 10% down payment, you need to make $25,783 per year to buy the median priced home in Salisbury
The home price you can afford to buy based on household income in Salisbury is 188% of the median home value which means housing prices are average
Salisbury (Rowan County) ranks 26 out of 100 counties in North Carolina and 1,826 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Salisbury, NC is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Salisbury (Rowan County) below.
Conforming loan limits for Salisbury, NC
FHA loan limits for Salisbury, NC
VA loan limits for Salisbury, NC
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