North Carolina mortgage calculator

This mortgage calculator will help you estimate the costs of your mortgage loan. Get a clear breakdown of your potential mortgage payments with taxes and insurance included.
North Carolina housing market
North Carolina, the Tar Heel State, saw home values rise by 8.6% last year. North Carolina is still relatively affordable at the 20th most affordable in the country, but it has increasingly become home to technology and other companies looking to diversify their workforce. Home to the Research Triangle and the Outer Banks, North Carolina is also the home to the University of North Carolina, where Michael Jordan launched his basketball career.
house icon
Your monthly payment
30 year fixed loan term
Principal and Interest

What rate will you likely qualify for?Get personalized mortgage rates.
Principal and Interest

What rate will you likely qualify for?Get personalized mortgage rates.
Compare common loan types
Total principal: $240,000
Loan Term
30-year fixed
Your Input
15-year fixed30-year fixed
Total Monthly Payment$1,985$2,444$1,985
Mortgage Rate6.703%5.869%*6.703%*
Total interest paid$317,692$121,496$317,692
* Data source: ©Zillow, Inc. 2006 - 2024. Use is subject to the Terms of Use
See how your payments change over time for your 30-year fixed loan term
At year 0
30 year fixed loan term

Principal Paid
Interest Paid
Year 0
drag me




Play with the chart

Drag the slider to see how your payments change over time and gain insights.

Save & exit

See latest mortgage rates
Get personalized mortgage rates from San Francisco, CA.
Principal and Interest

Loan term

Refine Results

Many or all of the products featured here are from our partners who compensate us. This influences which products we write about and where and how the product appears on a page. However, this does not influence our evaluations. Our opinions are our own. Here is a list of our partners and here's how we make money.


Mortgage loans from our partners

Check Rate




NerdWallet rating 


NerdWallet rating 
Min. credit score 

Min. down payment 

Check Rate


Rocket Mortgage - PURCHASE logo
Check Rate

on Rocket Mortgage

Rocket Mortgage


NerdWallet rating 
Rocket Mortgage - PURCHASE logo


NerdWallet rating 
Min. credit score 

Min. down payment 

Check Rate

on Rocket Mortgage

Better - PURCHASE logo
Check Rate

on Better



NerdWallet rating 
Better - PURCHASE logo


NerdWallet rating 
Min. credit score 

Min. down payment 

Check Rate

on Better

Tomo - PURCHASE logo
Check Rate

on Tomo



NerdWallet rating 
Tomo - PURCHASE logo


NerdWallet rating 
Min. credit score 

Min. down payment 


Check Rate

on Tomo

Guaranteed Rate - PURCHASE logo
Check Rate

on Guaranteed Rate

Guaranteed Rate


NerdWallet rating 
Guaranteed Rate - PURCHASE logo


NerdWallet rating 
Min. credit score 

Min. down payment 

Check Rate

on Guaranteed Rate

North Carolina mortgage and refinance rates today (APR)

ProductInterest rateAPR
30-year fixed-rate6.549%6.616%
20-year fixed-rate6.204%6.294%
15-year fixed-rate5.606%5.723%
10-year fixed-rate5.478%5.657%
7-year ARM6.555%7.383%
5-year ARM6.488%7.555%
30-year fixed-rate FHA6.000%6.769%
30-year fixed-rate VA5.666%6.041%

Data source: ©Zillow, Inc. 2006 – 2021. Use is subject to the Terms of Use

Today's rate

30-year fixed

Today’s mortgage rates in North Carolina are 6.616% for a 30-year fixed, 5.723% for a 15-year fixed, and 7.555% for a 5-year adjustable-rate mortgage (ARM).

Getting ready to buy a home?
Your personalized lender matches are just a few questions away.
Won’t affect your credit score

North Carolina's first-time home buyer programs

The North Carolina Housing Finance Agency has a program called North Carolina Home Advantage Program which offers affordable, fixed-rate loans with down payment assistance of up to 5% of the loan amount. For homeowners who stay in the home long enough, they don't have to pay back the down payment assistance.

NC Home Advantage Mortgage

State program
Best for
Down payment assistance
What you need to knowAll loans under the NC Home Advantage program are 30-year fixed-rate mortgages. The minimum credit score to buy a...

See full article

North Carolina's best mortgage lenders

NerdWallet has done the work for you to pick the best financing partner for you in North Carolina.

See full article

Average property tax in North Carolina counties

Taking U.S. Census data, NerdWallet has crunched the numbers to help you understand what property tax rate you can expect to pay on your future home in North Carolina. Because assessed values aren’t frequently updated, you may pay a higher rate at first but eventually you’ll pay a similar rate.

CountyAvg. property tax rateAvg. home value
Alamance County0.8%$153,800
Alexander County0.68%$131,800
Alleghany County0.52%$136,000
Anson County0.78%$83,700
Ashe County0.48%$150,300
Avery County0.48%$138,800
Beaufort County0.73%$123,600
Bertie County0.69%$78,900
Bladen County0.88%$89,500
Brunswick County0.59%$214,300
Buncombe County0.71%$240,100
Burke County0.79%$125,100
Cabarrus County0.92%$208,000
Caldwell County0.75%$119,800
Camden County0.7%$222,500
Carteret County0.56%$204,500
Caswell County0.67%$104,700
Catawba County0.74%$143,200
Chatham County0.75%$277,400
Cherokee County0.54%$145,500
Chowan County0.81%$128,300
Clay County0.36%$154,600
Cleveland County0.78%$112,500
Columbus County0.96%$85,200
Craven County0.71%$159,600
Cumberland County1.07%$136,500
Currituck County0.5%$244,500
Dare County0.6%$285,000
Davidson County0.67%$140,000
Davie County0.74%$170,000
Duplin County0.79%$88,800
Durham County1.16%$227,200
Edgecombe County1.01%$84,000
Forsyth County0.97%$156,500
Franklin County0.87%$158,100
Gaston County1.01%$141,400
Gates County0.74%$142,500
Graham County0.49%$124,800
Granville County0.93%$146,100
Greene County0.94%$85,700
Guilford County1.05%$164,500
Halifax County1.04%$86,500
Harnett County0.85%$150,700
Haywood County0.6%$175,900
Henderson County0.61%$211,400
Hertford County1.02%$86,800
Hoke County0.83%$137,700
Hyde County0.74%$81,000
Iredell County0.66%$185,000
Jackson County0.42%$177,200
Johnston County0.85%$159,300
Jones County0.69%$92,700
Lee County1.03%$138,400
Lenoir County0.96%$93,500
Lincoln County0.74%$168,200
Macon County0.47%$162,000
Madison County0.61%$172,200
Martin County0.95%$83,100
McDowell County0.56%$110,400
Mecklenburg County1.03%$234,100
Mitchell County0.58%$140,600
Montgomery County0.68%$105,900
Moore County0.7%$233,800
Nash County0.84%$131,700
New Hanover County0.74%$242,600
Northampton County1.07%$81,900
Onslow County0.75%$158,600
Orange County1.25%$279,700
Pamlico County0.62%$150,600
Pasquotank County0.87%$158,900
Pender County0.75%$167,200
Perquimans County0.64%$165,500
Person County0.75%$118,500
Pitt County0.93%$150,800
Polk County0.59%$205,500
Randolph County0.8%$124,700
Richmond County0.84%$80,000
Robeson County0.88%$77,100
Rockingham County0.87%$118,800
Rowan County0.8%$130,000
Rutherford County0.72%$124,500
Sampson County0.91%$87,700
Scotland County1.14%$85,200
Stanly County0.8%$133,000
Stokes County0.71%$123,900
Surry County0.68%$125,300
Swain County0.32%$122,300
Transylvania County0.45%$202,100
Tyrrell County0.9%$113,100
Union County0.77%$232,300
Vance County0.91%$95,500
Wake County0.87%$276,000
Warren County0.72%$93,900
Washington County0.95%$86,000
Watauga County0.44%$240,700
Wayne County0.8%$117,600
Wilkes County0.76%$135,400
Wilson County1.02%$123,300
Yadkin County0.66%$127,300
Yancey County0.54%$139,800

Source: American Communities Survey 2016, U.S. Census

How to calculate a mortgage payment

Under "Home price," enter the price (if you're buying) or the current value (if you're refinancing). NerdWallet also has a refinancing calculator.

Under "Down payment," enter the amount of your down payment (if you’re buying) or the amount of equity you have (if refinancing). A down payment is the cash you pay upfront for a home, and home equity is the value of the home, minus what you owe.

On desktop, under "Interest rate" (to the right), enter the rate. Under "Loan term," click the plus and minus signs to adjust the length of the mortgage in years.

On mobile devices, tap "Refine Results" to find the field to enter the rate and use the plus and minus signs to select the "Loan term."

You may enter your own figures for property taxes, homeowners insurance and homeowners association fees, if you don’t wish to use NerdWallet’s estimates. Edit these figures by clicking on the amount currently displayed.

The mortgage calculator lets you click "Compare common loan types" to view a comparison of different loan terms. Click "Amortization" to see how the principal balance, principal paid (equity) and total interest paid change year by year. On mobile devices, scroll down to see "Amortization."

Formula for calculating a mortgage payment

The mortgage payment calculation looks like this: M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1]

The variables are as follows:

  • M = monthly mortgage payment

  • P = the principal amount

  • i = your monthly interest rate. Your lender likely lists interest rates as an annual figure, so you’ll need to divide by 12, for each month of the year. So, if your rate is 5%, then the monthly rate will look like this: 0.05/12 = 0.004167.

  • n = the number of payments over the life of the loan. If you take out a 30-year fixed rate mortgage, this means: n = 30 years x 12 months per year, or 360 payments.

How a mortgage calculator helps you

Determining what your monthly house payment will be is an important part of figuring out how much house you can afford. That monthly payment is likely to be the biggest part of your cost of living.

Using NerdWallet’s mortgage calculator lets you estimate your mortgage payment when you buy a home or refinance. You can change loan details in the calculator to run scenarios. The calculator can help you decide:

  • The home loan term length that’s right for you. 30-year fixed-rate mortgage lower your monthly payment, but you’ll pay more interest over the life of the loan. A 15-year fixed-rate mortgage reduce the total interest you'll pay, but your monthly payment will be higher. c

  • If an ARM is a good option. Adjustable-rate mortgages start with a "teaser" interest rate, and then the loan rate changes — higher or lower — over time. A 5/1 ARM can be a good choice, particularly if you plan on being in a home for just a few years. You’ll want to be aware of how much your monthly mortgage payment can change when the introductory rate expires, especially if interest rates are trending higher.

  • If you’re buying too much home. The mortgage payment calculator can give you a reality check on how much you can expect to pay each month, especially when considering all the costs, including taxes, insurance and private mortgage insurance.

  • If you’re putting enough money down. With minimum down payments commonly as low as 3%, it's easier than ever to put just a little money down. The mortgage payment calculator can help you decide what the best down payment may be for you.

How lenders decide how much you can afford to borrow

Mortgage lenders are required to assess your ability to repay the amount you want to borrow. A lot of factors go into that assessment, and the main one is debt-to-income ratio.

Your debt-to-income ratio is the percentage of pretax income that goes toward monthly debt payments, including the mortgage, car payments, student loans, minimum credit card payments and child support. Lenders look most favorably on debt-to-income ratios of 36% or less — or a maximum of $1,800 a month on an income of $5,000 a month before taxes.

Typical costs included in a mortgage payment

If your mortgage payment included just principal and interest, you could use a bare-bones mortgage calculator. But most mortgage payments include other charges as well. Here are the key components of the monthly mortgage payment:

  • Principal: This is the amount you borrow. Each mortgage payment reduces the principal you owe.

  • Interest: What the lender charges you to lend you the money. Interest rates are expressed as an annual percentage.

  • Property taxes: The annual tax assessed by a government authority on your home and land. You pay about one-twelfth of your annual tax bill with each mortgage payment, and the servicer saves them in an escrow account. When the taxes are due, the loan servicer pays them.

  • Homeowners insurance: Your policy covers damage and financial losses from fire, storms, theft, a tree falling on your house and other bad things. As with property taxes, you pay roughly one-twelfth of your annual premium each month, and the servicer pays the bill when it's due.

  • Mortgage insurance: If your down payment is less than 20% of the home’s purchase price, you’ll likely pay mortgage insurance. It protects the lender’s interest in case a borrower defaults on a mortgage. Once the equity in your property increases to 20%, the mortgage insurance is canceled, unless you have an FHA loan backed by the Federal Housing Administration.

Typically, when you belong to a homeowners association, the dues are billed directly, and it's not added to the monthly mortgage payment. Because HOA dues can be easy to forget, they're included in NerdWallet's mortgage calculator.

Reducing monthly mortgage payments

The mortgage calculator lets you test scenarios to see how you can reduce the monthly payments:

  • Extend the term (the number of years it will take to pay off the loan). With a longer term, your payment will be lower but you’ll pay more interest over the years. Review your amortization schedule to see the impact of extending your loan.

  • Buy less house. Taking out a smaller loan means a smaller monthly mortgage payment.

  • Avoid paying PMI. With a down payment of 20% or more, you won’t have to pay private mortgage insurance. Similarly, keeping at least 20% equity in the home lets you avoid PMI when you refinance.

  • Get a lower interest rate. Making a larger down payment can not only let you avoid PMI, but reduce your interest rate, too. That means a lower monthly mortgage payment.

Monthly mortgage payments can go up

Your monthly payment can go up over time if:

  • Property taxes or homeowners insurance premiums rise. These costs are included in most mortgage payments.

  • You incur a late payment fee from your mortgage loan servicer.

  • You have an adjustable-rate mortgage and the rate rises at the adjustment period.