Compare mortgage rates and fees for leading lenders in Winston Salem, 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 Winston Salem.
We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Winston Salem. Plus, shopping lenders is free and there is no obligation.
October 20, 2019
The current average rate for a 30 year fixed rate mortgage in Winston Salem 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 Winston Salem, NC (Forsyth County) is $173,246
The median household income for Winston Salem, NC (Forsyth County) is $49,848
Based on current mortgage rates and a 10% down payment, you need to make $32,142 per year to buy the median priced home in Winston Salem
The home price you can afford to buy based on household income in Winston Salem is 155% of the median home value which means housing prices are average
Winston Salem (Forsyth County) ranks 63 out of 100 counties in North Carolina and 2,469 out of 3,142 counties in the United States for housing affordability.
According to the FREEandCLEAR Housing Affordability Index, the housing market in Winston Salem, NC is average
Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Winston Salem (Forsyth County) below.
Conforming loan limits for Winston Salem, NC
FHA loan limits for Winston Salem, NC
VA loan limits for Winston Salem, 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