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.
April 4, 2020
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%
Below we provide helpful information on the real estate market, home prices and housing affordability in Winston Salem. Understand how much you need to earn to afford a home in Winston Salem, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Winston Salem 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 Winston Salem is right for you.
The median home value for Winston Salem, NC (Forsyth County) is $181,908
Based on current mortgage rates and a 10% down payment, you need to make $32,739 per year to buy the median priced home in Winston Salem
With this income, you could qualify for a $163,717 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 Winston Salem is $758
The median household income for Winston Salem, NC (Forsyth County) is $51,012
Based on this income, you can afford a home valued at approximately $283,441
The home price you can afford to buy based on household income in Winston Salem is 156% of the median home value which means housing prices are average. Winston Salem (Forsyth County) ranks 60 out of 100 counties in North Carolina and 2,434 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