The Chapel Hill housing market is characterized by a mix of older and newer homes, with a range of architectural styles and amenities. The median home price is around $430,000, with prices varying depending on the neighborhood and property type. According to recent data, the average days on market for homes in Chapel Hill is around 30-60 days, with many properties receiving multiple offers.

Some of the most popular neighborhoods in Chapel Hill include:

• Southern Village: A master-planned community with a mix of single-family homes, townhomes, and condos.
• Meadowmont: An upscale neighborhood with luxury homes and amenities like a community pool and tennis courts.
• Carolina Hills: A family-friendly neighborhood with a mix of older and newer homes, and easy access to local schools and parks.

At NMHL, we offer a range of mortgage products to suit the needs of Chapel Hill homebuyers. Our loan options include:

• FHA loans: Insured by the Federal Housing Administration, these loans offer more lenient credit score requirements and lower down payment options.
• VA loans: Available to eligible veterans, active-duty military, and surviving spouses, these loans offer competitive rates and terms.
• Conventional loans: Our conventional loan options offer competitive rates and terms, with down payment requirements as low as 3%.

We also offer specialized programs for self-employed borrowers and those with less-than-perfect credit. Our team will work with you to identify the best mortgage solution for your situation and help you navigate the application process.

Down payment assistance programs can be a valuable resource for Chapel Hill homebuyers, helping to reduce the upfront costs of purchasing a home. Some of the programs available in North Carolina include:

• NC Home Advantage Mortgage: Offers up to $8,000 in down payment assistance for first-time homebuyers.
• NC Home Advantage Tax Credit: Provides a tax credit of up to $2,000 per year for first-time homebuyers.
• Community Partners Loan Pool: Offers financing options for low-to-moderate income homebuyers, with down payment assistance available.

NMHL can help you explore these programs and determine which ones you may be eligible for.

As a homeowner in Chapel Hill, you'll need to factor property taxes and insurance into your mortgage planning. Property taxes in Orange County are assessed annually, with a tax rate of approximately 0.85% of the property's assessed value. Homeowners insurance is also required, with premiums varying depending on factors like the property's location, value, and condition.

NMHL can help you understand these costs and factor them into your mortgage planning. Our team will work with you to ensure you're prepared for the ongoing expenses associated with homeownership.