North Carolina Mortgage and Refinance Rates

Current mortgage rates in North Carolina

As of Sunday, July 13, 2025, current interest rates in North Carolina are 6.84% for a 30-year fixed mortgage and 5.92% for a 15-year fixed mortgage.

In line with national trends, mortgage rates in North Carolina continue to hover around the 7-percent mark. While some experts forecast a slight drop in rates by the end of the year — for instance, Fannie Mae’s most recent housing forecast sees mortgage rates dropping to 6.2 percent by the end of 2025 — it isn’t a guarantee.

Refinance rates in North Carolina

North Carolina refinance rates also remain higher than they were several years ago. If you bought your home within the last year and locked in a higher rate, refinancing might make sense in the future if rates come down. Still, if you’ve owned your property for a long time in The Tar Heel State, you might benefit from doing a cash-out refinance now to accomplish goals like remodeling your home.

National mortgage rates by loan type

North Carolina mortgage rate housing market statistics and trends

North Carolina’s housing markets and home values vary widely, from the metro areas of Charlotte and Raleigh-Durham to the coastal vibe of the Outer Banks to the mountainous region around Asheville. Use the statistics below as an entry point, but research more about how quickly homes are selling — and for how much – in the local market where you’re browsing.

• Median single-family home sales price, April 2025: $368,000
• Median down payment, February 2025: $62,812
• One-year change in median sales price all properties: +0.8% YoY
• Median days on market: 53

Sources: NC Realtors, ATTOM, Redfin

Mortgage options in North Carolina

Whether you’re hoping to buy a beachside condo in Wilmington, a home in a college town like Raleigh or Chapel Hill or an estate somewhere in tobacco country, you’ve got many options to borrow the funds, including:

• North Carolina conventional mortgages: To qualify for a conventional mortgage, you’ll need a minimum credit score of 620 and a debt-to-income (DTI) ratio of no more than 45 percent. If you make a down payment of less than 20 percent, you’ll need to pay private mortgage insurance (PMI), as well.
• North Carolina FHA loans: If your credit history disqualifies you from a conventional mortgage, you might be able to obtain a loan insured by the Federal Housing Administration (FHA). If you have a down payment of at least 3.5 percent, you could qualify for this loan type with a credit score as low as 580. 
• North Carolina VA loans: If you’re a veteran or active-duty member of the military, you might qualify for a mortgage guaranteed by the Department of Veterans Affairs (VA). A VA loan doesn’t require a down payment or mortgage insurance, but you do need to pay a funding fee, which ranges from 1.25 percent to 2.15 percent for first use.
• North Carolina jumbo loans: The conforming loan limit across the Tar Heel State is the same, no matter what county you’re considering as a buyer: $806,500. If you’re looking to buy a high-priced luxury property and need to borrow more than that amount, you'll have to compare lenders that offer jumbo loans. And before you do, you’ll want to get your credit in the best shape possible — at least a 680 score — and have at least a 10 percent down payment.

First-time homebuyer programs in North Carolina

The North Carolina Housing Finance Agency (NCHFA) helps connect first-time homebuyers to low-interest mortgages and no-interest down payment assistance loans, including:

• NC Home Advantage Mortgage and down payment assistance: A fixed-rate mortgage for borrowers with a credit score of at least 640 and within income limits for their area; can be used for single-family homes, duplexes, condos, townhouses or new manufactured homes (with a minimum credit score of 660).
• NC 1st Home Advantage Down Payment: If you qualify for an NC Home Advantage Mortgage, you may also be eligible for this program, which provides up to $15,000 in down payment assistance. The assistance is provided as a zero-interest deferred second mortgage and is completely forgivable after 15 years.

Additional North Carolina mortgage resources

• North Carolina loan limits by county: Learn the conforming loan limit for your city or town.
• North Carolina mortgage lenders: Explore mortgage lenders in your state.
• North Carolina housing market overview: Know what to expect as a homebuyer or seller in North Carolina.
• Homeowners insurance in North Carolina: Compare policies from a variety of providers.

Meet our Bankrate experts

Written by: Jeff Ostrowski, Principal Reporter, Mortgages

I cover mortgages and the housing market. Before joining Bankrate in 2020, I spent more than 20 years writing about real estate and the economy for the Palm Beach Post and the South Florida Business Journal. I’ve had a front-row seat for two housing booms and a housing bust. I’ve twice won gold awards from the National Association of Real Estate Editors, and since 2017 I’ve served on the nonprofit’s board of directors.

Read more from Jeff Ostrowski

Edited by: Chris Jennings, Editor, Home Lending

I’ve been writing and editing about mortgages and personal finance since 2016. At Bankrate, my primary focus involves covering mortgage and real estate trends. I enjoy simplifying complex mortgage topics for first-time homebuyers and homeowners alike. I graduated from Illinois State University with a Bachelor of Arts in English.

Read more from Chris Jennings