Not financial advice. Mortgage FV Calculator is a software calculator, not a personal-finance product or advisory service. It computes standard financial functions and displays the results for your convenience. Nothing here constitutes, or is intended to constitute, financial, investment, tax, legal, mortgage, credit, or insurance advice. Always consult a qualified professional before making any financial decision.
Raleigh mortgage calculator
A median-priced Raleigh, NC home at 6.75% over 30 years, with North Carolina property tax of 0.8% and $2,000 a year of homeowners insurance. Every figure below is computed on our amortising engine — nothing is estimated in the browser.
$2,989 a month, all in
Principal and interest are $2,382; escrow and PMI add the rest. Over the full term the loan costs $490,195 in interest. Discounted at 5%, buying here has a net present value of $100,686 ($379,557 in today’s dollars).
Within North Carolina, Raleigh is 2nd of the 6 North Carolina markets covered here, between Asheville at the top and Winston-Salem at the bottom of a 1.73x spread. A state-level median hides most of that.
Raleigh carries a premium over the rest of North Carolina: a median home here runs $408,000, about 20% above the state median of $340,000. The deposit moves with it, so the same 20% down is $81,600 rather than $68,000.
A price-to-rent ratio of 17.2 puts Raleigh in the middle of the range, where the rent-vs-buy answer is decided by how long you stay and what the deposit would otherwise earn.
Monthly cost in Raleigh vs comparable rent
Owning is stacked by component; renting is the local median asking rent.
The monthly breakdown
| Median home price | $408,000 |
|---|---|
| Down payment (10%) | $40,800 |
| Loan amount | $367,200 |
| Principal & interest | $2,382/mo |
| Property tax (0.8%) | $272/mo |
| Homeowners insurance | $167/mo |
| PMI while above 80% LTV | $168/mo |
| Total monthly payment | $2,989/mo |
| Comparable rent | $1,980/mo |
What a rate move does to the Raleigh payment
| Rate | Principal & interest |
|---|---|
| 5.5% | $2,085/mo |
| 6% | $2,202/mo |
| 6.5% | $2,321/mo |
| 7% | $2,443/mo |
| 7.5% | $2,568/mo |
| 8% | $2,694/mo |
Rent or buy in Raleigh?
Against $1,980 a month in rent, over 7 years renting leaves you about $46,993 better off — $39,533 once 2.5% inflation is stripped out. See the North Carolina rent-vs-buy page.
Where these numbers come from
North Carolina medians come from editorial and are refreshed weekly. The Raleigh figures index those state medians to the local market, so they track the same feed rather than going stale. Insurance and the state income tax rate are editorial. Treat everything here as a planning estimate, not a quote.