Mortgage on a $350K house in North Carolina
$2,244 a month with 20% down — $1,884 principal and interest plus $185 property tax and $175 insurance.
North Carolina's typical property tax is 0.64% of the home's value a year (U.S. average 0.9%), which adds $185 a month on a $350K home. The typical home in North Carolina is worth $332,159, so $350K is 5% above the typical price.
$350K 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 | $70,000 | $280,000 | $1,884 | $0 | $360 | $2,244 | $96,200 |
| 10% down | $35,000 | $315,000 | $2,119 | $131 | $360 | $2,611 | $111,900 |
| 5% down | $17,500 | $332,500 | $2,237 | $139 | $360 | $2,736 | $117,200 |
| 3.5% down (FHA) | $12,250 | $343,661 | $2,312 | $155 | $360 | $2,827 | $121,200 |
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 $350K buy a typical home?
In these counties the typical home value is within 15% of $350K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Ashe County | $351,357 | 0.49% | $2,201 |
| Franklin County | $355,924 | 0.65% | $2,247 |
| Macon County | $359,927 | 0.43% | $2,183 |
| Johnston County | $339,986 | 0.62% | $2,241 |
| Haywood County | $338,535 | 0.57% | $2,224 |
| Clay County | $338,459 | 0.43% | $2,183 |
| Davie County | $325,287 | 0.63% | $2,242 |
| Swain County | $321,857 | 0.41% | $2,180 |
| Cabarrus County | $380,437 | 0.73% | $2,271 |
| Iredell County | $383,806 | 0.61% | $2,236 |
| Avery County | $384,253 | 0.38% | $2,169 |
| Granville County | $315,433 | 0.67% | $2,255 |
73 of 100 North Carolina counties tracked by Zillow have a typical home value at or below $350K. See all North Carolina home prices.
Other prices in North Carolina
Frequently asked questions
What is the mortgage on a $350K house in North Carolina?
About $2,244 a month with 20% down at 7.11%: $1,884 principal and interest, $185 property tax and $175 insurance.
How much do I need to make to buy a $350K house in North Carolina?
About $96,200 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $350K house in North Carolina?
At North Carolina's typical effective rate of 0.64%, about $2,223 a year. Rates vary by county and city — see the county pages.