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2019 FHA Loan Limits in North Carolina

The FHA loan limit for a single-family home in most of North Carolina is $314,827.

There are several exceptions to this loan limit, however. Camden County, which includes Elizabeth City, has the state’s highest FHA limit, at $726,525. Counties serving the large metro area of Durham-Chapel Hill also have a higher loan limit, at $403,650. In Raleigh, the FHA loan limit is $339,250.

North Carolina features sandy shorelines, bustling mid-size cities and lush forests that can attract a wide variety of homebuyers. Securing a Federal Housing Authority loan in the state may help make a home purchase a reality, as these loans generally have lower down payment and credit limits than conventional mortgage loans.

North Carolina is home to roughly 10.4 million residents and has a median home value of $161,000. That’s not only much lower than the $217,600 median home value in the United States, but well under the FHA loan limit for most counties in the state.

In 2018, 2.62% of FHA loans made nationwide were granted in North Carolina. A 2016 FHA report (the latest which featured this data) found that 16.7% of mortgage loans made within the state were FHA loans.

North Carolina FHA Loan Limits by County

FHA Loan Limits in North Carolina
County Name One-Family Two-Family Three-Family Four-Family Median Sale Price
Alamance $314,827 $403,125 $487,250 $605,525 $159,000
Alexander $314,827 $403,125 $487,250 $605,525 $133,000
Alleghany $314,827 $403,125 $487,250 $605,525 $76,000
Anson $314,827 $403,125 $487,250 $605,525 $60,000
Ashe $314,827 $403,125 $487,250 $605,525 $100,000
Avery $314,827 $403,125 $487,250 $605,525 $150,000
Beaufort $314,827 $403,125 $487,250 $605,525 $133,000
Bertie $314,827 $403,125 $487,250 $605,525 $35,000
Bladen $314,827 $403,125 $487,250 $605,525 $60,000
Brunswick $314,827 $403,125 $487,250 $605,525 $206,000
Buncombe $314,827 $403,125 $487,250 $605,525 $258,000
Burke $314,827 $403,125 $487,250 $605,525 $133,000
Cabarrus $317,400 $406,300 $491,150 $610,400 $276,000
Caldwell $314,827 $403,125 $487,250 $605,525 $133,000
Camden $726,525 $930,300 $1,124,475 $1,397,400 $239,000
Carteret $314,827 $403,125 $487,250 $605,525 $219,000
Caswell $314,827 $403,125 $487,250 $605,525 $62,000
Catawba $314,827 $403,125 $487,250 $605,525 $133,000
Chatham $403,650 $516,750 $624,600 $776,250 $351,000
Cherokee $314,827 $403,125 $487,250 $605,525 $120,000
Chowan $314,827 $403,125 $487,250 $605,525 $122,000
Clay $314,827 $403,125 $487,250 $605,525 $150,000
Cleveland $314,827 $403,125 $487,250 $605,525 $100,000
Columbus $314,827 $403,125 $487,250 $605,525 $80,000
Craven $314,827 $403,125 $487,250 $605,525 $180,000
Cumberland $314,827 $403,125 $487,250 $605,525 $165,000
Currituck $458,850 $587,400 $710,050 $882,400 $308,000
Dare $391,000 $500,550 $605,050 $751,900 $300,000
Davidson $314,827 $403,125 $487,250 $605,525 $157,000
Davie $314,827 $403,125 $487,250 $605,525 $157,000
Duplin $314,827 $403,125 $487,250 $605,525 $63,000
Durham $403,650 $516,750 $624,600 $776,250 $351,000
Edgecombe $314,827 $403,125 $487,250 $605,525 $126,000
Forsyth $314,827 $403,125 $487,250 $605,525 $157,000
Franklin $339,250 $434,300 $524,950 $652,400 $295,000
Gaston $317,400 $406,300 $491,150 $610,400 $276,000
Gates $458,850 $587,400 $710,050 $882,400 $308,000
Graham $314,827 $403,125 $487,250 $605,525 $95,000
Granville $314,827 $403,125 $487,250 $605,525 $175,000
Greene $314,827 $403,125 $487,250 $605,525 $97,000
Guilford $314,827 $403,125 $487,250 $605,525 $158,000
Halifax $314,827 $403,125 $487,250 $605,525 $70,000
Harnett $314,827 $403,125 $487,250 $605,525 $169,000
Haywood $314,827 $403,125 $487,250 $605,525 $258,000
Henderson $314,827 $403,125 $487,250 $605,525 $258,000
Hertford $314,827 $403,125 $487,250 $605,525 $50,000
Hoke $314,827 $403,125 $487,250 $605,525 $165,000
Hyde $483,000 $618,300 $747,400 $928,850 $147,000
Iredell $317,400 $406,300 $491,150 $610,400 $276,000
Jackson $314,827 $403,125 $487,250 $605,525 $210,000
Johnston $339,250 $434,300 $524,950 $652,400 $295,000
Jones $314,827 $403,125 $487,250 $605,525 $180,000
Lee $314,827 $403,125 $487,250 $605,525 $140,000
Lenoir $314,827 $403,125 $487,250 $605,525 $73,000
Lincoln $317,400 $406,300 $491,150 $610,400 $276,000
Macon $314,827 $403,125 $487,250 $605,525 $150,000
Madison $314,827 $403,125 $487,250 $605,525 $258,000
Martin $314,827 $403,125 $487,250 $605,525 $47,000
Mcdowell $314,827 $403,125 $487,250 $605,525 $86,000
Mecklenburg $317,400 $406,300 $491,150 $610,400 $276,000
Mitchell $314,827 $403,125 $487,250 $605,525 $101,000
Montgomery $314,827 $403,125 $487,250 $605,525 $73,000
Moore $314,827 $403,125 $487,250 $605,525 $243,000
Nash $314,827 $403,125 $487,250 $605,525 $126,000
New Hanover $314,827 $403,125 $487,250 $605,525 $240,000
Northampton $314,827 $403,125 $487,250 $605,525 $70,000
Onslow $314,827 $403,125 $487,250 $605,525 $158,000
Orange $403,650 $516,750 $624,600 $776,250 $351,000
Pamlico $314,827 $403,125 $487,250 $605,525 $180,000
Pasquotank $726,525 $930,300 $1,124,475 $1,397,400 $239,000
Pender $314,827 $403,125 $487,250 $605,525 $240,000
Perquimans $726,525 $930,300 $1,124,475 $1,397,400 $239,000
Person $403,650 $516,750 $624,600 $776,250 $351,000
Pitt $314,827 $403,125 $487,250 $605,525 $155,000
Polk $314,827 $403,125 $487,250 $605,525 $210,000
Randolph $314,827 $403,125 $487,250 $605,525 $158,000
Richmond $314,827 $403,125 $487,250 $605,525 $67,000
Robeson $314,827 $403,125 $487,250 $605,525 $57,000
Rockingham $314,827 $403,125 $487,250 $605,525 $158,000
Rowan $317,400 $406,300 $491,150 $610,400 $276,000
Rutherford $314,827 $403,125 $487,250 $605,525 $120,000
Sampson $314,827 $403,125 $487,250 $605,525 $65,000
Scotland $314,827 $403,125 $487,250 $605,525 $70,000
Stanly $314,827 $403,125 $487,250 $605,525 $130,000
Stokes $314,827 $403,125 $487,250 $605,525 $157,000
Surry $314,827 $403,125 $487,250 $605,525 $90,000
Swain $314,827 $403,125 $487,250 $605,525 $120,000
Transylvania $314,827 $403,125 $487,250 $605,525 $213,000
Tyrrell $391,000 $500,550 $605,050 $751,900 $300,000
Union $317,400 $406,300 $491,150 $610,400 $276,000
Vance $314,827 $403,125 $487,250 $605,525 $65,000
Wake $339,250 $434,300 $524,950 $652,400 $295,000
Warren $314,827 $403,125 $487,250 $605,525 $124,000
Washington $314,827 $403,125 $487,250 $605,525 $60,000
Watauga $314,827 $403,125 $487,250 $605,525 $210,000
Wayne $314,827 $403,125 $487,250 $605,525 $115,000
Wilkes $314,827 $403,125 $487,250 $605,525 $100,000
Wilson $314,827 $403,125 $487,250 $605,525 $113,000
Yadkin $314,827 $403,125 $487,250 $605,525 $157,000
Yancey $314,827 $403,125 $487,250 $605,525 $136,000

How are FHA loan limits determined?

The U.S. Department of Housing and Urban Development (HUD) sets FHA loan limits based on the conforming loan limit — or how large of a mortgage Fannie Mae and Freddie Mac will purchase. In 2019, that limit is $484,350. The FHA’s “floor” is the largest mortgage the agency will issue in most of the country and is set at $314,827 for 2019.

The FHA “ceiling” applies to high-cost areas and is set at 150% of the conforming loan limit, or $726,525. Outside of a few exceptions, this is the highest mortgage the agency will insure for a single-family home. In other areas, loan limits fall somewhere between the FHA floor and ceiling.

Here are the 2019 standard FHA limits for all property types:

  • One-unit: $314,827
  • Two-unit: $403,125
  • Three-unit: $487,250
  • Four-unit: $605,525

Here are the 2019 standard FHA limits for high-cost areas:

  • One-unit: $726,525
  • Two-unit: $930,300
  • Three-unit: $1,124,475
  • Four-unit: $1,397,400

Do you qualify for an FHA loan in North Carolina?

If you’re looking to buy a home in North Carolina and don’t have much money for a down payment or have poor credit, FHA loans can be a good option. These loans have lower credit score requirements than most regular bank loans, and you can put down as little as 3.5% for a down payment.

You must have a minimum credit score of 500 to qualify for an FHA loan. A loan with a credit score in that range will require a larger down payment — about 10%. Apart from your credit score and your down payment, your debt-to-income ratio will also be a factor. A lender will consider how much debt you have compared with your monthly income.

To find out whether this kind of loan may be right for you, visit LendingTree’s FHA loan page, which provides step-by-step instructions for preparing to apply for an FHA loan, along with more details on how the loans work. You can also compare loan offers in your area.

 

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