Select your Scenario
3.5% Down (minimum)
5.995%30-year fixed
10% Down
5.995%30-year fixed · shorter MIP
15-Year FHA
5.995%Faster payoff
See Safe Rate's top scoring FHA lenders for Deep Gap
We rank active Deep Gap lenders across our 5 P's of mortgage shopping. No pay to play, independent rankings.
FHA Loan Details for ZIP Code 28618
2025 HUD guidelines · Computed from local median home value
- • Minimum credit score: 580 for 3.5% down · 500–579 requires 10% down
- • Debt-to-income ratio: typically up to 57% with compensating factors
- • UFMIP can be financed into the loan — no cash required at closing for this fee
- • Annual MIP rate shown is 0.55% for a 30-yr loan with LTV >90%. Rate varies by term and LTV.
Frequently Asked Questions
What are current fha rates today in 28618, , NC?
Today's leading benchmark rate for fha rates in 28618, , NC is 6.861% (with an estimated monthly payment of $2,682). Calibrated directly to 28618, , NC's local housing market, Safe Rate shows up-to-the-minute interest rates and points across Conventional, FHA, VA, and Jumbo loan programs daily.
What is the recent trend for fha rates in 28618, , NC?
Mortgage rates for fha rates have shown typical daily fluctuations driven by inflation data and bond yields. Over the past 90 days, rates for fha rates in 28618, , NC have hovered between a low of 6.482% and a high of 6.943%. You can track these daily movements by using the 90-day rate history and trajectory chart featured on this page.
Is an FHA or Conventional loan more cost-effective in 28618, , NC?
Choosing between FHA and Conventional depends on your down payment budget and credit score. For a typical home priced at $479,237 in 28618, , NC, a standard 20%-down Conventional loan requires an upfront cash down payment of $95,847 but keeps your monthly payment lower at $2,682/mo (at 6.861% interest) with no monthly PMI. In comparison, an FHA loan requires only $16,773 (3.5% down) but has an estimated payment of $3,007/mo (at 5.995% interest) due to mandatory FHA mortgage insurance (MIP). Local Nuance: The typical local FHA loan amount of $462,464 falls comfortably within the local HUD FHA loan limit of $524,225 (1-unit), making FHA financing an exceptionally accessible, high-leverage entry point into the market.
What is the maximum conforming loan limit in 28618 before needing a Jumbo loan?
The 2025 conforming conventional loan limit for a 1-unit property in 28618 is $806,501. With a typical local home value of $479,237 in , a standard 20%-down mortgage requires a loan size of $383,390. Because this is within the $806,501 conforming threshold, buyers can qualify for standard conforming conventional financing with competitive rates.
How does the median home value in 28618, , NC impact estimated mortgage payments?
The median home value in 28618, , NC is estimated at $479,237. Buying a typical home here with a standard 20% down payment ($95,847) translates to an estimated starting monthly mortgage payment of $2,682 (principal and interest). Compared to the local area median household income of $72,794 ($6,066/mo), this basic housing payment represents approximately 44.2% of gross monthly household income. Because this housing cost exceeds the standard 36% lender DTI guideline, buyers in this high-value area may need larger down payments, lower debt balances, or co-borrower income to qualify.