Best North Carolina Mortgage Lenders of 2023

The average mortgage rate in North Carolina is currently 7.10% for a 30-year fixed loan term and 6.49% for a 15-year fixed loan term.

These are the interest rates offered to North Carolina residents looking to buy or refinance a home as of 06/28/2023.

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The 30-year fixed mortgage rate rose to 7.26% this week, jumping to the highest level since November 2022. Fixed and adjustable mortgage rates increased across the board.

Mortgage interest rates are widely expected to fall through 2023 but have remained elevated during the spring and summer homebuying seasons. Here are the current mortgage rates, without discount points unless otherwise noted, as of July 6:

  • 30-year fixed: 7.26% (up from 7.15% a week ago).
  • 20-year fixed: 7.32% (up from 7.24% a week ago).
  • 15-year fixed: 6.61% (up from 6.58% a week ago).
  • 10-year fixed: 6.79% (up from 6.74% a week ago).
  • 5/1 ARM: 6.12% (up from 6.1% a week ago).
  • 7/1 ARM: 6.25% (up from 6.23% a week ago).
  • 10/1 ARM: 6.5% (up from 6.43% a week ago).
  • 30-year jumbo loans: 7.31% (up from 7.22% a week ago).
  • 30-year FHA loans: 6.51% with 0.05 point (up from 6.27% a week ago).
  • VA purchase loans: 6.69% with 0.05 point (up from 6.53% a week ago).

North Carolina homebuyers can get mortgage interest rate reductions and help with down payments and closing costs from these programs.

  • Available to: Eligible North Carolina homebuyers with credit scores of 640 or higher.
  • Income limits: Borrowers must have an income not exceeding $89,500.
  • First-time homebuyers only?: No.
  • Loan options: Up to 100% financing on FHA, USDA and VA loans; 3% down payment assistance on conventional loans.
  • Down payment and closing cost assistance: All eligible homebuyers may qualify for down payment assistance up to 5% of the loan amount.

  • Available to: Eligible first-time homebuyers, military veterans or those purchasing a home in a targeted census tract.
  • Income limits: Vary by county.
  • First-time homebuyers only?: No.
  • Loan options: 30-year fixed-rate mortgages.
  • Benefit: Up to $8,000 in down payment assistance. Borrowers get a 0% deferred second mortgage, which is forgiven 20% per year at the end of years 11 through 15, with complete forgiveness at the end of year 15.

  • Available to: First-time buyers and military veterans who are eligible for a Mortgage Credit Certificate.
  • Income limits: Vary by county.
  • First-time homebuyers only?: No.
  • Loan options: 30-year fixed-rate mortgages.
  • Benefit: A tax credit up to 50% of the annual interest paid, saving buyers up to $2,000 per year. Note: MCCs cannot be combined with the NC 1st Home Advantage Down Payment.

U.S. News selects the Best Loan Companies by evaluating affordability, borrower eligibility criteria and customer service. Those with the highest overall scores are considered the best lenders.

To calculate each score, we use data about the lender and its loan offerings, giving greater weight to factors that matter most to borrowers. For mortgage lenders, we take into account each company’s customer service ratings, interest rates, loan product availability, minimum down payment, minimum FICO score and online features.

The weight each scoring factor receives is based on a nationwide survey on what borrowers look for in a lender.

To receive a rating, lenders must offer qualifying loans nationwide and have a good reputation within the industry. Read more about our methodology.

To recap, here are the picks:

Best North Carolina Mortgage Lenders of 2023

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