What is an FHA Loan? Requirements, How to Get One and Best Lenders
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How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

2024 FHA Loan Limits in North Carolina

Updated on:
Content was accurate at the time of publication.

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.

County nameOne unitTwo unitsThree unitsFour unitsMedian 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

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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.

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 FHA 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.

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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 unitsLow-cost FHA loan limit
Two$637,950
Three$771,125
Four$958,350

How Does LendingTree Get Paid?
LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

How Does LendingTree Get Paid?

LendingTree is compensated by companies on this site and this compensation may impact how and where offers appear on this site (such as the order). LendingTree does not include all lenders, savings products, or loan options available in the marketplace.

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