2024 FHA Loan Limits in North Carolina
Timothy Manni started his career as a writer, but for the better part of the last 15 years he has been an editor and content team leader in the mortgage and home buying space. For six years, he lead the Mortgage Content team at NerdWallet, and before that he was the managing editor at HSH.com. Currently, he’s utilizing his years of expertise to help websites like LendingTree, Yahoo Finance and MoneyGeek elevate the information they are sharing with consumers.
The FHA loan limit to purchase a single-family home in North Carolina is $498,257 in most counties. In a few higher-cost counties, you could borrow up to $805,000, as long as you meet the minimum credit score and down payment requirements. Here’s what you need to know about how to qualify.
North Carolina FHA loan limits by county
| County name | One unit | Two units | Three units | Four units | Median sales price |
|---|---|---|---|---|---|
| ALAMANCE | $498,257 | $637,950 | $771,125 | $958,350 | $265,000 |
| ALEXANDER | $498,257 | $637,950 | $771,125 | $958,350 | $226,000 |
| ALLEGHANY | $498,257 | $637,950 | $771,125 | $958,350 | $113,000 |
| ANSON | $498,257 | $637,950 | $771,125 | $958,350 | $420,000 |
| ASHE | $498,257 | $637,950 | $771,125 | $958,350 | $100,000 |
| AVERY | $498,257 | $637,950 | $771,125 | $958,350 | $214,000 |
| BEAUFORT | $498,257 | $637,950 | $771,125 | $958,350 | $181,000 |
| BERTIE | $498,257 | $637,950 | $771,125 | $958,350 | $56,000 |
| BLADEN | $498,257 | $637,950 | $771,125 | $958,350 | $115,000 |
| BRUNSWICK | $498,257 | $637,950 | $771,125 | $958,350 | $335,000 |
| BUNCOMBE | $498,257 | $637,950 | $771,125 | $958,350 | $408,000 |
| BURKE | $498,257 | $637,950 | $771,125 | $958,350 | $226,000 |
| CABARRUS | $498,257 | $637,950 | $771,125 | $958,350 | $420,000 |
| CALDWELL | $498,257 | $637,950 | $771,125 | $958,350 | $226,000 |
| CAMDEN | $690,000 | $883,300 | $1,067,750 | $1,326,950 | $600,000 |
| CARTERET | $498,257 | $637,950 | $771,125 | $958,350 | $335,000 |
| CASWELL | $498,257 | $637,950 | $771,125 | $958,350 | $120,000 |
| CATAWBA | $498,257 | $637,950 | $771,125 | $958,350 | $226,000 |
| CHATHAM | $602,600 | $771,450 | $932,500 | $1,158,850 | $513,000 |
| CHEROKEE | $498,257 | $637,950 | $771,125 | $958,350 | $184,000 |
| CHOWAN | $498,257 | $637,950 | $771,125 | $958,350 | $192,000 |
| CLAY | $498,257 | $637,950 | $771,125 | $958,350 | $180,000 |
| CLEVELAND | $498,257 | $637,950 | $771,125 | $958,350 | $170,000 |
| COLUMBUS | $498,257 | $637,950 | $771,125 | $958,350 | $99,000 |
| CRAVEN | $498,257 | $637,950 | $771,125 | $958,350 | $256,000 |
| CUMBERLAND | $498,257 | $637,950 | $771,125 | $958,350 | $300,000 |
| CURRITUCK | $690,000 | $883,300 | $1,067,750 | $1,326,950 | $600,000 |
| DARE | $617,550 | $790,550 | $955,600 | $1,187,600 | $537,000 |
| DAVIDSON | $498,257 | $637,950 | $771,125 | $958,350 | $255,000 |
| DAVIE | $498,257 | $637,950 | $771,125 | $958,350 | $255,000 |
| DUPLIN | $498,257 | $637,950 | $771,125 | $958,350 | $125,000 |
| DURHAM | $602,600 | $771,450 | $932,500 | $1,158,850 | $513,000 |
| EDGECOMBE | $498,257 | $637,950 | $771,125 | $958,350 | $205,000 |
| FORSYTH | $498,257 | $637,950 | $771,125 | $958,350 | $255,000 |
| FRANKLIN | $529,000 | $677,200 | $818,600 | $1,017,300 | $460,000 |
| GASTON | $498,257 | $637,950 | $771,125 | $958,350 | $420,000 |
| GATES | $690,000 | $883,300 | $1,067,750 | $1,326,950 | $600,000 |
| GRAHAM | $498,257 | $637,950 | $771,125 | $958,350 | $180,000 |
| GRANVILLE | $602,600 | $771,450 | $932,500 | $1,158,850 | $513,000 |
| GREENE | $498,257 | $637,950 | $771,125 | $958,350 | $100,000 |
| GUILFORD | $498,257 | $637,950 | $771,125 | $958,350 | $255,000 |
| HALIFAX | $498,257 | $637,950 | $771,125 | $958,350 | $100,000 |
| HARNETT | $498,257 | $637,950 | $771,125 | $958,350 | $300,000 |
| HAYWOOD | $498,257 | $637,950 | $771,125 | $958,350 | $408,000 |
| HENDERSON | $498,257 | $637,950 | $771,125 | $958,350 | $408,000 |
| HERTFORD | $498,257 | $637,950 | $771,125 | $958,350 | $94,000 |
| HOKE | $498,257 | $637,950 | $771,125 | $958,350 | $300,000 |
| HYDE | $498,257 | $637,950 | $771,125 | $958,350 | $150,000 |
| IREDELL | $498,257 | $637,950 | $771,125 | $958,350 | $420,000 |
| JACKSON | $498,257 | $637,950 | $771,125 | $958,350 | $303,000 |
| JOHNSTON | $529,000 | $677,200 | $818,600 | $1,017,300 | $460,000 |
| JONES | $498,257 | $637,950 | $771,125 | $958,350 | $256,000 |
| LEE | $498,257 | $637,950 | $771,125 | $958,350 | $265,000 |
| LENOIR | $498,257 | $637,950 | $771,125 | $958,350 | $120,000 |
| LINCOLN | $498,257 | $637,950 | $771,125 | $958,350 | $420,000 |
| MACON | $498,257 | $637,950 | $771,125 | $958,350 | $240,000 |
| MADISON | $498,257 | $637,950 | $771,125 | $958,350 | $408,000 |
| MARTIN | $498,257 | $637,950 | $771,125 | $958,350 | $75,000 |
| MCDOWELL | $498,257 | $637,950 | $771,125 | $958,350 | $110,000 |
| MECKLENBURG | $498,257 | $637,950 | $771,125 | $958,350 | $420,000 |
| MITCHELL | $498,257 | $637,950 | $771,125 | $958,350 | $180,000 |
| MONTGOMERY | $498,257 | $637,950 | $771,125 | $958,350 | $86,000 |
| MOORE | $498,257 | $637,950 | $771,125 | $958,350 | $384,000 |
| NASH | $498,257 | $637,950 | $771,125 | $958,350 | $205,000 |
| NEW HANOVER | $498,257 | $637,950 | $771,125 | $958,350 | $395,000 |
| NORTHAMPTON | $498,257 | $637,950 | $771,125 | $958,350 | $100,000 |
| ONSLOW | $498,257 | $637,950 | $771,125 | $958,350 | $248,000 |
| ORANGE | $602,600 | $771,450 | $932,500 | $1,158,850 | $513,000 |
| PAMLICO | $498,257 | $637,950 | $771,125 | $958,350 | $256,000 |
| PASQUOTANK | $805,000 | $1,030,550 | $1,245,700 | $1,548,100 | $210,000 |
| PENDER | $498,257 | $637,950 | $771,125 | $958,350 | $395,000 |
| PERQUIMANS | $805,000 | $1,030,550 | $1,245,700 | $1,548,100 | $210,000 |
| PERSON | $602,600 | $771,450 | $932,500 | $1,158,850 | $513,000 |
| PITT | $498,257 | $637,950 | $771,125 | $958,350 | $239,000 |
| POLK | $498,257 | $637,950 | $771,125 | $958,350 | $350,000 |
| RANDOLPH | $498,257 | $637,950 | $771,125 | $958,350 | $255,000 |
| RICHMOND | $498,257 | $637,950 | $771,125 | $958,350 | $114,000 |
| ROBESON | $498,257 | $637,950 | $771,125 | $958,350 | $114,000 |
| ROCKINGHAM | $498,257 | $637,950 | $771,125 | $958,350 | $255,000 |
| ROWAN | $498,257 | $637,950 | $771,125 | $958,350 | $420,000 |
| RUTHERFORD | $498,257 | $637,950 | $771,125 | $958,350 | $190,000 |
| SAMPSON | $498,257 | $637,950 | $771,125 | $958,350 | $85,000 |
| SCOTLAND | $498,257 | $637,950 | $771,125 | $958,350 | $78,000 |
| STANLY | $498,257 | $637,950 | $771,125 | $958,350 | $260,000 |
| STOKES | $498,257 | $637,950 | $771,125 | $958,350 | $255,000 |
| SURRY | $498,257 | $637,950 | $771,125 | $958,350 | $135,000 |
| SWAIN | $498,257 | $637,950 | $771,125 | $958,350 | $303,000 |
| TRANSYLVANIA | $498,257 | $637,950 | $771,125 | $958,350 | $363,000 |
| TYRRELL | $498,257 | $637,950 | $771,125 | $958,350 | $77,000 |
| UNION | $498,257 | $637,950 | $771,125 | $958,350 | $420,000 |
| VANCE | $498,257 | $637,950 | $771,125 | $958,350 | $130,000 |
| WAKE | $529,000 | $677,200 | $818,600 | $1,017,300 | $460,000 |
| WARREN | $498,257 | $637,950 | $771,125 | $958,350 | $159,000 |
| WASHINGTON | $498,257 | $637,950 | $771,125 | $958,350 | $85,000 |
| WATAUGA | $498,257 | $637,950 | $771,125 | $958,350 | $357,000 |
| WAYNE | $498,257 | $637,950 | $771,125 | $958,350 | $175,000 |
| WILKES | $498,257 | $637,950 | $771,125 | $958,350 | $162,000 |
| WILSON | $498,257 | $637,950 | $771,125 | $958,350 | $167,000 |
| YADKIN | $498,257 | $637,950 | $771,125 | $958,350 | $255,000 |
| YANCEY | $498,257 | $637,950 | $771,125 | $958,350 | $225,000 |
How are FHA loan limits determined?
FHA loan limits may vary from year to year. The amount you’re eligible to borrow for an FHA-backed loan may differ depending on the county in which you live and how median home prices have changed in the previous year.
FHA loan limits are based on a percentage of the conforming loan limits for conventional mortgages. For 2024, the FHA “floor,” or the minimum maximum amount you could borrow with an FHA loan, is set at $498,257. This figure is 65% of the national conforming loan limit of $766,550 for a single-family home in most areas of the U.S.
The FHA “ceiling,” or the maximum loan amount for which you could be approved in a high-cost area, is 150% of the national conforming loan limit and reflects market conditions in regions with higher housing prices. In 2024, the ceiling is set at $1,149,825 for a single-family unit.
How to qualify for an FHA loan in North Carolina
The highest amount you can borrow with a FHA-backed loan for a single-family unit in North Carolina is $805,000. Requirements are generally not as strict for conventional loans, and so they’re a great option if you have a lower credit score, limited credit history or not a lot of cash for a down payment. To qualify, you’ll have to meet the following minimum FHA home loan requirements:
→ Minimum down payment and credit scores: You need a credit score of at least 580 to only have to come up with a 3.5% down payment. If you’re able to provide a 10% down payment, you could qualify with a credit score as low as 500.
→ Debt-to-income (DTI) ratio: Divide your monthly debt payments by your monthly before-tax income to get your DTI ratio, which most lenders prefer to be under 43%. However, if you have a high credit score, extra savings or a large down payment, some lenders may make an exception.
→ Mortgage insurance: To qualify for an FHA loan, you must purchase two types of mortgage insurance. One type is an upfront mortgage insurance premium (UFMIP) that is rolled into your mortgage and costs 1.75% of your loan amount. The other type is an annual mortgage insurance premium (MIP) that costs 0.15% to 0.75% of your loan amount and is paid out monthly on top of your mortgage payments.
→ An FHA home appraisal and inspection: You’ll need to purchase an FHA home appraisal and inspection to buy a home with an FHA loan. This involves more stringent home-inspection requirements than with conventional loans, and includes both market research and a physical inspection of the building and property site.
→ Occupancy requirements: The home you purchase must serve as your primary residence for at least 12 consecutive months.
Buying a multifamily property with an FHA loan
You could be eligible to purchase a multifamily property with an FHA loan as long as you’re able to provide a 3.5% down payment. The loan limits for properties with multiple units are higher than for single-family homes. Here’s what you need to qualify:
- Property must contain between two to four separate units
- You must live in one of the units as your primary residence
- Minimum credit score of 580 (or 500 with a 10% down payment)
- Maximum DTI of 43% (some lenders may accept as high as 50% with strong credit score and demonstrated savings)
- Purchase of FHA mortgage insurance
- Purchase of FHA home appraisal and inspection
| Number of units | Low-cost FHA loan limit |
|---|---|
| Two | $637,950 |
| Three | $771,125 |
| Four | $958,350 |
FHA lenders in North Carolina
| Lender | LendingTree rating | Minimum FHA credit score | |
|---|---|---|---|
 |  Read our review | 580 | Get offers |
 | Read our review | Not disclosed | Get offers |
 | Read our review | 580 | Get offers |
 | Read our review | 580 | Get offers |
 |  Read our review | 580 | Get offers |