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Winston Salem

Current Mortgage Rates in Winston Salem, North Carolina

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.

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Mortgage Rates in Winston Salem, NC as of October 20, 2019
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Data provided by Informa Research Services. Payments do not include amounts for taxes and insurance premiums. Click for more information on rates and product details.

How Do Today's Winston Salem, NC Mortgage Rates Compare?

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%

Mortgage Program
Today's
Winston Salem, NC Rates
National
Average
Comparison
30 Year Fixed Rate
A.AAA%
3.690%
15 Year Fixed Rate
B.BBB%
3.150%
5/1 Adjustable Rate Mortgage
C.CCC%
3.350%

How Affordable is Housing in Winston Salem, North Carolina?

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

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Loan Limits for Winston Salem, North Carolina

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

1 unit: $484,350
2 units: $620,200
3 units: $749,650
4 units: $931,600

FHA loan limits for Winston Salem, NC

1 unit: $314,827
2 units: $403,125
3 units: $487,250
4 units: $605,525

VA loan limits for Winston Salem, NC

1 unit: $484,350

Additional Mortgage Resources for Winston Salem, NC Residents

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Winston Salem Mortgage Rates

Sources

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