Mortgage on a $250K house in North Carolina
$1,603 a month with 20% down — $1,345 principal and interest plus $132 property tax and $125 insurance.
North Carolina's typical property tax is 0.64% of the home's value a year (U.S. average 0.9%), which adds $132 a month on a $250K home. The typical home in North Carolina is worth $332,159, so $250K is 25% below the typical price.
$250K 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 | $50,000 | $200,000 | $1,345 | $0 | $257 | $1,603 | $68,700 |
| 10% down | $25,000 | $225,000 | $1,514 | $94 | $257 | $1,865 | $79,900 |
| 5% down | $12,500 | $237,500 | $1,598 | $99 | $257 | $1,954 | $83,700 |
| 3.5% down (FHA) | $8,750 | $245,472 | $1,651 | $111 | $257 | $2,019 | $86,500 |
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 $250K buy a typical home?
In these counties the typical home value is within 15% of $250K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Randolph County | $251,780 | 0.67% | $1,610 |
| Burke County | $253,278 | 0.68% | $1,611 |
| Person County | $246,547 | 0.62% | $1,600 |
| Gates County | $255,286 | 0.76% | $1,628 |
| McDowell County | $256,108 | 0.53% | $1,581 |
| Pitt County | $243,595 | 0.83% | $1,643 |
| Surry County | $241,900 | 0.6% | $1,596 |
| Stokes County | $259,278 | 0.6% | $1,595 |
| Mitchell County | $236,388 | 0.52% | $1,578 |
| Pasquotank County | $264,204 | 0.67% | $1,610 |
| Cherokee County | $264,815 | 0.46% | $1,566 |
| Beaufort County | $235,091 | 0.67% | $1,611 |
41 of 100 North Carolina counties tracked by Zillow have a typical home value at or below $250K. See all North Carolina home prices.
Other prices in North Carolina
Frequently asked questions
What is the mortgage on a $250K house in North Carolina?
About $1,603 a month with 20% down at 7.11%: $1,345 principal and interest, $132 property tax and $125 insurance.
How much do I need to make to buy a $250K house in North Carolina?
About $68,700 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $250K house in North Carolina?
At North Carolina's typical effective rate of 0.64%, about $1,588 a year. Rates vary by county and city — see the county pages.