North Carolina Mortgage Calculator
Estimate your monthly mortgage payment in North Carolina with state-specific property tax, insurance, and homestead data pre-loaded. Median home value in North Carolina is $360,000 with an effective property tax rate of 0.78%.
Mortgage Calculator
Estimate your monthly payment including taxes, insurance, and PMI.
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| Month | Payment | Principal | Interest | Balance |
|---|---|---|---|---|
Year 1 | $21,844.32 | $3,219.10 | $18,625.22 | $284,780.90 |
| 1 | $1,820.36 | $260.36 | $1,560.00 | $287,739.64 |
| 2 | $1,820.36 | $261.77 | $1,558.59 | $287,477.87 |
| 3 | $1,820.36 | $263.19 | $1,557.17 | $287,214.68 |
| 4 | $1,820.36 | $264.61 | $1,555.75 | $286,950.07 |
| 5 | $1,820.36 | $266.05 | $1,554.31 | $286,684.02 |
| 6 | $1,820.36 | $267.49 | $1,552.87 | $286,416.53 |
| 7 | $1,820.36 | $268.94 | $1,551.42 | $286,147.59 |
| 8 | $1,820.36 | $270.39 | $1,549.97 | $285,877.20 |
| 9 | $1,820.36 | $271.86 | $1,548.50 | $285,605.34 |
| 10 | $1,820.36 | $273.33 | $1,547.03 | $285,332.01 |
| 11 | $1,820.36 | $274.81 | $1,545.55 | $285,057.20 |
| 12 | $1,820.36 | $276.30 | $1,544.06 | $284,780.90 |
Year 2 | $21,844.32 | $3,434.69 | $18,409.63 | $281,346.21 |
Year 3 | $21,844.32 | $3,664.72 | $18,179.60 | $277,681.49 |
Year 4 | $21,844.32 | $3,910.15 | $17,934.17 | $273,771.34 |
Year 5 | $21,844.32 | $4,172.01 | $17,672.31 | $269,599.33 |
What is a Mortgage Calculator?
A mortgage calculator helps you estimate your total monthly housing payment, including principal, interest, property taxes, home insurance, and private mortgage insurance (PMI). This gives you a complete picture of what homeownership will cost each month.
Unlike a simple loan calculator, a mortgage calculator accounts for additional costs that come with buying a home. Property taxes and insurance are typically required by lenders to be included in your monthly payment through an escrow account.
All calculations happen in your browser. No financial data is sent to any server, so your information stays completely private.
North Carolina Housing Snapshot
| Median Home Value | $360,000 |
| Effective Property Tax Rate | 0.78% |
| Estimated Annual Property Tax | $2,808 |
| State Income Tax | Flat 4.25% (decreasing toward 3.99% by 2027) |
| Homestead Exemption | Senior Homestead Exclusion $25,000 or 50% of value, whichever greater (age/income limits) |
| Avg Homeowners Insurance | $1,410/yr |
| Transfer & Recording Taxes | Excise tax on conveyance $1.00 per $500 (0.20%) |
What Makes Buying in North Carolina Different
North Carolina has been one of the fastest-growing US states by population, with Charlotte and the Research Triangle (Raleigh-Durham-Chapel Hill) drawing tech, finance, and life sciences employment. The state median home value of $360,000 reflects strong appreciation, with Charlotte and Raleigh both above $445,000 median and rising. The effective property tax rate is moderate at 0.78%, and state income tax was simplified to a flat 4.25% with scheduled reductions toward 3.99% by 2027. The Senior Homestead Exclusion removes the greater of $25,000 or 50% of assessed value for homeowners aged 65 or older or those totally disabled, with income limits (currently around $36,700). The excise tax on conveyance is $1.00 per $500 (0.20% of sale price), paid by the seller. Insurance averages $1,410, with the main risks being hurricanes (Eastern North Carolina and the Outer Banks) and tornadoes inland. Coastal counties pay significantly higher premiums than the inland statewide average.
Top Cities in North Carolina
| City | Median Home Value |
|---|---|
| Charlotte | $445,000 |
| Raleigh | $475,000 |
| Greensboro | $275,000 |
| Durham | $425,000 |
| Winston-Salem | $245,000 |
Homeowners aged 65 or older or those who are totally and permanently disabled qualify for the Homestead Exclusion, which exempts the greater of $25,000 or 50% of the appraised value of the residence. Income limit applies (currently $36,700, adjusted annually). For a $300,000 home, this removes $150,000 from the tax base, a significant reduction. Apply with your county tax office.
Charlotte and Raleigh have been among the fastest-growing major metros in the US since 2020, driven by tech (Apple's Raleigh-Durham campus, Google, Meta), finance (Bank of America headquarters in Charlotte), and life sciences. Both metros have median home values around $445,000-$475,000, roughly 30-40% above the state average. The Triangle (Raleigh-Durham-Chapel Hill) is anchored by major universities (Duke, UNC, NC State) and Research Triangle Park.
Yes. North Carolina charges an excise tax on conveyance of $1.00 per $500 of sale price (0.20%). On a $360,000 home, this is $720, typically paid by the seller. Some coastal counties (Camden, Chowan, Currituck, Dare, Pasquotank, Perquimans, Tyrrell, Washington) add an additional 1% land transfer tax, which significantly increases closing costs in those areas.
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Mortgage Calculator
Estimate monthly mortgage payments including taxes, insurance, and PMI.