Mortgage on a $400K house in North Carolina
$2,564 a month with 20% down — $2,153 principal and interest plus $212 property tax and $200 insurance.
North Carolina's typical property tax is 0.64% of the home's value a year (U.S. average 0.9%), which adds $212 a month on a $400K home. The typical home in North Carolina is worth $332,159, so $400K is 20% above the typical price.
$400K 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 | $80,000 | $320,000 | $2,153 | $0 | $412 | $2,564 | $109,900 |
| 10% down | $40,000 | $360,000 | $2,422 | $150 | $412 | $2,983 | $127,900 |
| 5% down | $20,000 | $380,000 | $2,556 | $158 | $412 | $3,126 | $134,000 |
| 3.5% down (FHA) | $14,000 | $392,755 | $2,642 | $177 | $412 | $3,231 | $138,500 |
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 $400K buy a typical home?
In these counties the typical home value is within 15% of $400K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Lincoln County | $402,332 | 0.58% | $2,545 |
| Brunswick County | $404,357 | 0.54% | $2,533 |
| Camden County | $394,319 | 0.58% | $2,546 |
| Moore County | $410,202 | 0.53% | $2,528 |
| Madison County | $388,117 | 0.48% | $2,512 |
| Mecklenburg County | $414,531 | 0.71% | $2,589 |
| Durham County | $384,848 | 0.79% | $2,617 |
| Avery County | $384,253 | 0.38% | $2,479 |
| Iredell County | $383,806 | 0.61% | $2,555 |
| Cabarrus County | $380,437 | 0.73% | $2,596 |
| Henderson County | $422,515 | 0.52% | $2,524 |
| Pender County | $435,927 | 0.63% | $2,563 |
82 of 100 North Carolina counties tracked by Zillow have a typical home value at or below $400K. See all North Carolina home prices.
Other prices in North Carolina
Frequently asked questions
What is the mortgage on a $400K house in North Carolina?
About $2,564 a month with 20% down at 7.11%: $2,153 principal and interest, $212 property tax and $200 insurance.
How much do I need to make to buy a $400K house in North Carolina?
About $109,900 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $400K house in North Carolina?
At North Carolina's typical effective rate of 0.64%, about $2,540 a year. Rates vary by county and city — see the county pages.