Mortgage on a $550K house in North Carolina
$3,526 a month with 20% down — $2,960 principal and interest plus $291 property tax and $275 insurance.
North Carolina's typical property tax is 0.64% of the home's value a year (U.S. average 0.9%), which adds $291 a month on a $550K home. The typical home in North Carolina is worth $332,159, so $550K is 66% above the typical price.
$550K 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 | $110,000 | $440,000 | $2,960 | $0 | $566 | $3,526 | $151,100 |
| 10% down | $55,000 | $495,000 | $3,330 | $206 | $566 | $4,102 | $175,800 |
| 5% down | $27,500 | $522,500 | $3,515 | $218 | $566 | $4,299 | $184,200 |
| 3.5% down (FHA) | $19,250 | $540,038 | $3,633 | $243 | $566 | $4,442 | $190,400 |
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 $550K buy a typical home?
In these counties the typical home value is within 15% of $550K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Currituck County | $543,963 | 0.46% | $3,448 |
| Chatham County | $558,465 | 0.64% | $3,527 |
| Watauga County | $507,749 | 0.39% | $3,412 |
| Dare County | $597,323 | 0.52% | $3,473 |
| Orange County | $494,660 | 0.91% | $3,650 |
| Wake County | $471,020 | 0.71% | $3,559 |
| Carteret County | $469,750 | 0.43% | $3,431 |
98 of 100 North Carolina counties tracked by Zillow have a typical home value at or below $550K. See all North Carolina home prices.
Other prices in North Carolina
Frequently asked questions
What is the mortgage on a $550K house in North Carolina?
About $3,526 a month with 20% down at 7.11%: $2,960 principal and interest, $291 property tax and $275 insurance.
How much do I need to make to buy a $550K house in North Carolina?
About $151,100 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $550K house in North Carolina?
At North Carolina's typical effective rate of 0.64%, about $3,493 a year. Rates vary by county and city — see the county pages.