North Carolina Mortgage Calculator
A $400,000 home in North Carolina with 20% down and a 30-year loan at 6.5% costs about $2,256 a month: $2,023 principal and interest plus $233 property tax at North Carolina’s average rate of 0.70%.
Add homeowners insurance and any HOA or PMI. Try your own numbers in the mortgage calculator.
Monthly payments in North Carolina by home price
20% down payment, 30-year fixed loan, North Carolina average property tax. Insurance not included.
| Home price | Loan | P&I at 6% | P&I at 6.5% | P&I at 7% | Property tax / mo | Total at 6.5% |
|---|---|---|---|---|---|---|
| $200,000 | $160,000 | $959 | $1,011 | $1,064 | $117 | $1,128 |
| $250,000 | $200,000 | $1,199 | $1,264 | $1,331 | $146 | $1,410 |
| $300,000 | $240,000 | $1,439 | $1,517 | $1,597 | $175 | $1,692 |
| $350,000 | $280,000 | $1,679 | $1,770 | $1,863 | $204 | $1,974 |
| $400,000 | $320,000 | $1,919 | $2,023 | $2,129 | $233 | $2,256 |
| $500,000 | $400,000 | $2,398 | $2,528 | $2,661 | $292 | $2,820 |
| $600,000 | $480,000 | $2,878 | $3,034 | $3,193 | $350 | $3,384 |
| $750,000 | $600,000 | $3,597 | $3,792 | $3,992 | $438 | $4,230 |
| $1,000,000 | $800,000 | $4,796 | $5,057 | $5,322 | $583 | $5,640 |
Property tax in North Carolina
Property tax is usually paid through an escrow account with your mortgage, so it is part of your monthly payment. North Carolina’s average effective rate of 0.70% is close to the national average of about 0.9%. Each county and city sets its own rate, and many states offer homestead exemptions that lower the bill for a primary residence, so check with your county assessor.
Other costs to budget for
- Homeowners insurance: often $100–$300 a month depending on the home and location.
- PMI: with less than 20% down on a conventional loan, usually 0.3%–1.5% of the loan a year.
- Closing costs: typically 2%–5% of the loan. Estimate them with the closing cost calculator.
Frequently asked questions
What is the property tax rate in North Carolina?
The average effective property tax rate in North Carolina is about 0.70% of a home’s value per year, or roughly $2,800 a year on a $400,000 home. Rates vary by county and city.
What is the monthly payment on a $400,000 house in North Carolina?
With 20% down and a 30-year loan at 6.5%, principal and interest is $2,023 a month. Adding North Carolina’s average property tax brings it to about $2,256, before homeowners insurance.
How much income do I need to buy a $400,000 home in North Carolina?
Lenders like housing costs under about 28% of gross income. A payment of $2,406 including insurance suggests an income of roughly $103,112 a year.
Property tax rates are statewide averages and rounded. Mortgage rates shown are examples, not offers.