Charlotte-Concord-Gastonia, NC-SC metro: mortgages and home buyers
2025 home-purchase and refinance statistics for the 11-county Charlotte-Concord-Gastonia, NC-SC area (OMB code 16740), from official HMDA records.
In 2025, lenders reported 34,320 home-purchase mortgages for owner-occupied, single-family homes in the Charlotte-Concord-Gastonia, NC-SC metro area. The median buyer borrowed $365,000 on a home valued at $425,000 and reported a household income of $123,000.
Buyers financed a median 90% of the home's value (roughly 10% down), paid a median 6.50% on 30-year fixed conventional loans and faced median conventional loan costs of $5,020.
Lenders denied 7.7% of completed home-purchase applications.
Key facts
- The median 30-year fixed conventional rate here was 13 basis points below the U.S. median (6.625%).
- Median conventional loan costs ($5,020) were 10% lower than the U.S. median ($5,570).
- The most common age bracket among borrowers was 25–34 (32.8% of purchase loans).
- 55.1% of purchase mortgages had a single borrower with no co-applicant.
- The most-cited reason for denial was debt-to-income ratio (44.7% of denials with a stated reason).
Counties in the metro area
| County | Purchase loans | Median loan | Buyer income | 30-yr rate | Loan costs | Conforming limit | FHA limit |
|---|---|---|---|---|---|---|---|
| Mecklenburg County, NC | 12,771 | $395,000 | $140,000 | 6.500% | $5,090 | $832,750 | $541,287 |
| York County, SC | 4,114 | $355,000 | $121,000 | 6.500% | $5,090 | $832,750 | $541,287 |
| Union County, NC | 3,413 | $405,000 | $136,000 | 6.540% | $5,180 | $832,750 | $541,287 |
| Cabarrus County, NC | 2,874 | $365,000 | $122,000 | 6.625% | $5,140 | $832,750 | $541,287 |
| Gaston County, NC | 3,229 | $305,000 | $100,000 | 6.575% | $4,830 | $832,750 | $541,287 |
| Iredell County, NC | 2,788 | $345,000 | $117,000 | 6.500% | $4,810 | $832,750 | $541,287 |
| Lancaster County, SC | 1,803 | $355,000 | $120,000 | 6.625% | $4,780 | $832,750 | $541,287 |
| Rowan County, NC | 1,620 | $285,000 | $89,000 | 6.500% | $5,030 | $832,750 | $541,287 |
| Lincoln County, NC | 1,191 | $355,000 | $121,000 | 6.622% | $4,870 | $832,750 | $541,287 |
| Chester County, SC | 396 | $285,000 | $84,000 | 6.625% | $4,960 | $832,750 | $541,287 |
| Anson County, NC | 120 | $205,000 | $76,000 | 6.750% | $4,010 | $832,750 | $541,287 |
Who bought homes in Charlotte
Home-purchase mortgages for owner-occupied, single-family (1–4 unit) site-built homes, first liens, originated in 2025.
Values are medians; "middle half" is the 25th to 75th percentile.
Loan type
What the homes were for
All first-lien, closed-end purchase mortgages, including second homes and investors.
Borrower age
Debt-to-income ratio
Monthly debts (including the new payment) as a share of income, as used in underwriting.
What borrowing cost in Charlotte
Medians for 2025 home-purchase loans. Total loan costs are section D of the Loan Estimate/Closing Disclosure (lender and third-party loan charges, excluding taxes, prepaids and escrow). FHA and VA costs include the upfront mortgage insurance premium or VA funding fee, so compare like with like.
| Measure | Charlotte | U.S. |
|---|---|---|
| 30-year fixed rate · conventional | 6.500% | 6.625% |
| 30-year fixed rate · FHA | 6.125% | 6.250% |
| 30-year fixed rate · VA | 6.125% | 6.125% |
| 15-year fixed rate · conventional | 5.750% | 5.875% |
| Rate spread vs. APOR · conventional | +0.06 pts | +0.13 pts |
| Total loan costs · conventional | $5,020 | $5,570 |
| Total loan costs · FHA | $11,150 | $11,310 |
| Total loan costs · VA | $5,260 | $6,490 |
| Origination charges (all loan types) | $1,940 | $1,860 |
| Borrowers paying discount points | 53.5% | 51.3% |
| Points paid, when paid (% of loan) | 0.99% | 0.87% |
| Borrowers receiving lender credits | 31.9% | 33.1% |
| Adjustable-rate mortgages | 12.8% | 7.4% |
| Jumbo loans (above conforming limit) | 5.3% | 3.8% |
Medians are shown only when at least 30 loans report the field. Rates are those reported at closing; market rates changed during 2025, which the rate spread (APR minus the average prime offer rate on the lock date) adjusts for.
Approvals and denials
Charlotte: 2,967 of 38,363 completed home-purchase applications were denied (7.7%).
Denial rate
| Application | Charlotte | U.S. |
|---|---|---|
| Home purchase | 7.7% | 8.5% |
| Conventional | 6.2% | 7.1% |
| FHA | 13.3% | 12.5% |
| VA | 8.0% | 8.0% |
| USDA | 14.0% | 12.5% |
| Refinance | 15.0% | 17.9% |
| Cash-out refinance | 32.0% | 33.6% |
Main reason for purchase denials
First reason the lender reported.
Denial rate = denied ÷ (originated + approved but not accepted + denied). Withdrawn and incomplete applications are excluded. Differences between places reflect who applies, not only lender behavior.
Refinancing in Charlotte
Source: FFIEC/CFPB HMDA 2025 public LAR (derived MSA/MD); OMB July 2023 delineations via the U.S. Census Bureau. Methodology