Mortgage on a $200K house in North Carolina
$1,282 a month with 20% down — $1,076 principal and interest plus $106 property tax and $100 insurance.
North Carolina's typical property tax is 0.64% of the home's value a year (U.S. average 0.9%), which adds $106 a month on a $200K home. The typical home in North Carolina is worth $332,159, so $200K is 40% below the typical price.
$200K home in North Carolina: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $40,000 | $160,000 | $1,076 | $0 | $206 | $1,282 | $55,000 |
| 10% down | $20,000 | $180,000 | $1,211 | $75 | $206 | $1,492 | $63,900 |
| 5% down | $10,000 | $190,000 | $1,278 | $79 | $206 | $1,563 | $67,000 |
| 3.5% down (FHA) | $7,000 | $196,378 | $1,321 | $88 | $206 | $1,615 | $69,200 |
Assumes a 30-year fixed loan at 7.11%, property tax of 0.64% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Where in North Carolina does $200K buy a typical home?
In these counties the typical home value is within 15% of $200K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Columbus County | $198,207 | 0.77% | $1,304 |
| Rockingham County | $196,825 | 0.75% | $1,301 |
| Montgomery County | $195,311 | 0.64% | $1,283 |
| Caswell County | $210,158 | 0.69% | $1,292 |
| Cleveland County | $210,523 | 0.64% | $1,283 |
| Duplin County | $187,547 | 0.69% | $1,292 |
| Rutherford County | $214,563 | 0.58% | $1,274 |
| Wilson County | $216,195 | 0.79% | $1,308 |
| Vance County | $182,040 | 0.78% | $1,306 |
| Wayne County | $179,054 | 0.7% | $1,293 |
| Warren County | $221,073 | 0.71% | $1,294 |
| Hyde County | $223,074 | 0.79% | $1,307 |
23 of 100 North Carolina counties tracked by Zillow have a typical home value at or below $200K. See all North Carolina home prices.
Other prices in North Carolina
Frequently asked questions
What is the mortgage on a $200K house in North Carolina?
About $1,282 a month with 20% down at 7.11%: $1,076 principal and interest, $106 property tax and $100 insurance.
How much do I need to make to buy a $200K house in North Carolina?
About $55,000 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $200K house in North Carolina?
At North Carolina's typical effective rate of 0.64%, about $1,270 a year. Rates vary by county and city — see the county pages.