North Carolina Mortgage Calculator

North Carolina charges an excise tax (also called a deed stamp) of $2 per $1,000 of sale price (0.20%) on all real estate conveyances. On a $345,000 home, this equals $690. The excise tax is customarily paid by the seller and is reflected in the seller's closing costs. There is no additional local transfer tax in North Carolina. Source: North Carolina Department of Revenue (https://www.ncdor.gov/taxes-forms/excise-tax/real-property-excise-tax).

North Carolina property taxes are set at the county level, assessed annually at 100% of market value. The statewide average effective rate is 0.78%, making it one of the lower property tax states in the Southeast. Mecklenburg County (Charlotte) averages about 0.87%, Wake County (Raleigh) about 0.74%. The Elderly or Disabled Exclusion and the Circuit Breaker program offer relief for qualifying homeowners. New owners should apply for the Homestead Exclusion through their county assessor within 60 days of purchase. Source: NC Department of Revenue (https://www.ncdor.gov/taxes-forms/property-tax).

The 2026 FHFA conforming loan limit in North Carolina is $806,500 for all counties. North Carolina has no high-cost counties qualifying for elevated limits. The state's median home price of approximately $345,000 puts most purchases well within conventional loan territory, making NC one of the more accessible states for first-time buyers relative to income. Source: FHFA 2026 Conforming Loan Limit Table (https://www.fhfa.gov/data/conforming-loan-limit).

North Carolina has a flat income tax rate of 4.5% as of 2024, continuing a multi-year reduction from 5.25%. The rate is scheduled to decrease to 3.99% by 2027. For a buyer earning $82,000, this means approximately $3,690/year in state income tax. NC does not have local income taxes at the city or county level, keeping the overall tax burden relatively moderate. Source: North Carolina Department of Revenue (https://www.ncdor.gov/taxes-forms/individual-income-tax).

The NC Housing Finance Agency (NCHFA) offers strong programs. The NC Home Advantage Mortgage provides 3–5% DPA forgiven over 15 years. The NC 1st Home Advantage Down Payment gives $15,000 as a deferred loan for first-timers and veterans. The Mortgage Credit Certificate (MCC) provides a 20–30% annual federal tax credit on mortgage interest, worth up to $2,000/year. Income limits are approximately $92,000–$120,000 depending on county and household size. Visit https://www.nchfa.com for a full list of participating lenders.