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North Carolina Mortgage Calculator

On a $400,000 home in North Carolina with 20% down at 6.47%, the monthly payment is about $2,497 — $2,016 principal & interest, $220 property tax (0.66% effective) and $260 home insurance. Here, insurance is the larger of the two add-ons. Change the price, down payment and rate below for your exact figure.

$2,497 /mo

P&I: $2,016 · Tax: $220 · Insurance: $260

Loan amount: $320,000 · Total interest: $405,871

■ P&I 81%■ Tax 9%■ Insurance 10%
— Standard balance
Yearly amortization schedule
YearInterestPrincipalPMIBalance
1$20,599$3,597—$316,403
2$20,359$3,837—$312,566
3$20,103$4,093—$308,473
4$19,830$4,365—$304,108
5$19,539$4,656—$299,452
6$19,229$4,967—$294,485
7$18,898$5,298—$289,187
8$18,545$5,651—$283,536
9$18,168$6,028—$277,508
10$17,766$6,429—$271,079
11$17,338$6,858—$264,221
12$16,881$7,315—$256,906
13$16,393$7,803—$249,104
14$15,873$8,323—$240,781
15$15,318$8,877—$231,904
16$14,727$9,469—$222,435
17$14,096$10,100—$212,335
18$13,422$10,773—$201,561
19$12,704$11,491—$190,070
20$11,938$12,257—$177,812
21$11,121$13,074—$164,738
22$10,250$13,946—$150,792
23$9,320$14,875—$135,916
24$8,329$15,867—$120,049
25$7,271$16,925—$103,125
26$6,143$18,053—$85,072
27$4,940$19,256—$65,816
28$3,656$20,539—$45,277
29$2,287$21,908—$23,369
30$827$23,369—$0

Rates: Freddie Mac PMMS (wk 2026-06-18). Property tax: Tax Foundation. Insurance: Insurance.com. PMI applies when your down payment is under 20% (LTV > 80%). You can request cancellation at 80% LTV; the servicer must auto-terminate it at 78% (Homeowners Protection Act). How we calculate →

How much is a mortgage payment in North Carolina?

For a typical $400,000 home in North Carolina with a 20% down payment ($80,000) on a 30-year loan at 6.47%, the full monthly payment works out to about $2,497. That breaks down as $2,016 in principal and interest, $220 in property tax and $260 in homeowners insurance — so taxes and insurance add roughly $480 a month on top of the loan itself.

In North Carolina, insurance is the bigger of those two costs. The calculator above uses North Carolina's real figures by default, but every input is editable — drop in your own price, down payment, rate and HOA for an exact number, and add a loan type (FHA, VA or USDA) if you're not putting 20% down.

North Carolina property tax and home insurance

North Carolina's average effective property tax rate is 0.66% of a home's value — the 33rd highest of the 50 states and DC (the 19th lowest). On a $400,000 home that's about $2,640 a year, or $220 a month, escrowed into your payment. Property tax is the part of a mortgage that varies most from state to state, which is why a national calculator can be well off for North Carolina.

Average homeowners insurance in North Carolina runs about $3,124 a year for $300k of coverage — $581 above the US average of $2,543, the 14th highest in the country. It's close to the national norm, so insurance is a moderate part of your North Carolina payment.

North Carolina mortgage payment by home price

Because North Carolina's tax rate and insurance are fixed shares of the cost, the monthly payment scales with the price. With 20% down at 6.47%:

$300,000 home → about $1,938/mo · $400,000 home → about $2,497/mo · $500,000 home → about $3,056/mo (all including North Carolina tax and insurance).

Putting less than 20% down adds private mortgage insurance (PMI) until you reach 20% equity, and a lower rate or longer search for insurance can meaningfully cut the North Carolina figure. Use the inputs above to model your own scenario and see the amortization schedule.

What's included in a North Carolina mortgage payment (PITI)

A mortgage payment has four parts, often shortened to PITI: Principal, Interest, Taxes and Insurance — plus PMI if you put down under 20% and any HOA dues. In North Carolina, principal and interest on a $320,000 loan come to $2,016, then North Carolina's property tax ($220) and insurance ($260) are collected monthly into an escrow account and paid on your behalf.

This calculator computes all of PITI for North Carolina, shows a full amortization schedule, and estimates how much an extra monthly payment or biweekly schedule would save you in interest over the life of the loan.

North Carolina mortgage — frequently asked questions

How much is a monthly mortgage payment in North Carolina?

On a $400,000 home in North Carolina with 20% down at 6.47% over 30 years, the payment is about $2,497 a month — $2,016 principal and interest, $220 property tax and $260 insurance. Enter your own price and rate above for an exact figure.

What is the property tax rate in North Carolina?

North Carolina's average effective property tax rate is 0.66% of a home's value (Tax Foundation, 2024) — the 33rd highest in the country. On a $400,000 home that's roughly $2,640 a year, collected monthly through escrow.

How much is homeowners insurance in North Carolina?

Homeowners insurance in North Carolina averages about $3,124 a year for $300k of coverage, $581 above the national average of $2,543. Premiums vary by location, home age and claims history, so shop around.

Do I need PMI on a North Carolina mortgage?

If your down payment is under 20% on a conventional loan, lenders require private mortgage insurance (PMI) until you reach 20% equity, in North Carolina as elsewhere. You can request cancellation at 80% loan-to-value, and it's removed automatically at 78%. Set your down payment above to see the effect.

How much do I need to earn to buy a $400k home in North Carolina?

As a rough guide, the 28% rule suggests keeping housing costs at or below 28% of gross income, so a $2,497 payment in North Carolina points to roughly $106,999 a year, before other debts. Lenders also weigh your total debt-to-income ratio, down payment and credit score.

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Researched & verified by the Calcuris Data & Research Team. How we build and check our tools →