Cabarrus County, North Carolina
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1 Platform, 6 Refinance Alerts
01
Alert for Lower Rates
02
Alert for Cash Out
03
Alert for Shorter Term
04
Alert for Eliminating PMI
05
Alert for Product Changes
06
Alert for Changes in Home Value
Cabarrus Real Estate Market Update
The real estate market in Cabarrus County, North Carolina, has seen a steady increase in home values. As of 2024, the average home value in the county is approximately $377,878, marking a 2.8% rise over the past year. Homes in this area typically go pending in about 27 days, indicating a relatively active market.
Cabarrus County is home to several prominent cities, with Concord being the largest, boasting a population of around 105,240. Kannapolis follows with a population of approximately 55,302. Other notable towns include Harrisburg, with about 18,907 residents, and Midland, with a smaller population of around 4,687.
Living in Cabarrus County offers a mix of suburban and rural experiences. The western part of the county, particularly around Concord, is characterized by suburban sprawl and rapid population growth, while the eastern regions near Mount Pleasant maintain a rural landscape with an agricultural economy. The county's proximity to Charlotte makes it an attractive location for commuters, contributing to its growth as a suburban area. Key industries include manufacturing and motorsports, drawing people to the area for employment opportunities and a balanced lifestyle.
2025 Mortgage Loan Limits:
Cabarrus County, North Carolina
1 Unit
$806,500
Conforming Loans
$524,225
FHA Loans
2 Unit
$1,032,650
Conforming Loans
$671,200
FHA Loans
3 Unit
$1,248,150
Conforming Loans
$811,275
FHA Loans
4 Unit
$1,551,250
Conforming Loans
$1,008,300
FHA Loans
Questions About Refinancing in
Cabarrus County
What is mortgage refinancing?
Refinancing is the process of replacing your current mortgage with a new one, often to secure a lower interest rate or change the loan terms.When should I consider refinancing?
Consider refinancing when interest rates drop, your credit score improves, or you want to switch from an adjustable-rate to a fixed-rate mortgage.How much does it cost to refinance?
Refinancing costs typically range from 2% to 5% of the loan amount, including closing fees, appraisal, and title fees.How long does the refinancing process take?
The refinancing process usually takes between 30 to 45 days, but this can vary based on lender efficiency and document preparation.What are the benefits of refinancing?
Refinancing can lower your monthly payments, reduce interest rates, shorten loan terms, or allow you to tap into home equity.What is cash-out refinancing?
Cash-out refinancing allows you to take out a new loan for more than your current mortgage balance and receive the difference in cash.Will refinancing hurt my credit?
Refinancing may cause a temporary dip in your credit score due to the hard inquiry, but the impact is usually minor and short-term.Can I refinance with bad credit?
It may be harder to qualify, but some lenders offer refinancing options for people with lower credit scores, though they often come with higher interest rates.How much equity do I need to refinance?
Most lenders require you to have at least 20% equity in your home to qualify for refinancing, though some programs may allow for lower equity percentages.Is it possible to refinance a rental property?
Yes, you can refinance an investment or rental property, though the terms and interest rates may be different compared to refinancing a primary residence.
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