Español

Este sitio también está en español. Leer en español

Buying a home

Data from November 2026

Buying a home in North Carolina

A typical home in North Carolina is worth $288,900 (Average 2020–2024). The FHA limit for one unit is $541,287–$805,000 depending on the county. Here is the minimum down payment each loan type asks at that price, every county’s limit, and the state’s assistance programs.

Minimum down payment Limits by county
WhatsApp
Typical home
$288,900
median value, Average 2020–2024
13% less than the U.S.
FHA limit
$541,287–$805,000
one unit, by county
In 9 of the 100 counties, the limit is above the national floor ($541,287).
Conforming limit
$832,750
one unit, 2026 data
Above this amount, the loan is a “jumbo” loan.
Minimum FHA down payment
$10,112
3.5% of a $288,900 home
VA and USDA ask for no down payment if you qualify.

Source: American Community Survey (ACS) 5-year estimates Average 2020–2024 American Community Survey (ACS) 5-year estimates Source: FHA mortgage limits (HUD) Data from 2026 data FHA mortgage limits (HUD) Source: Conforming loan limits (FHFA) Data from 2026 data Conforming loan limits (FHFA)

Down payment

How much each loan asks up front

For a $288,900 home, the typical value in North Carolina. The minimum down payment is each program’s rule. The monthly figure is an example of principal and interest over 30 years at the 7.18% average rate (November 5, 2026): no taxes, insurance or mortgage insurance.

Your price, rate and down payment will differ: run the calculator with your numbers. Closing costs are extra.

Minimum down payment and monthly payment for a $288,900 home in North Carolina

  1. FHA Program rule

    Minimum down3.5%

    In dollars$10,112

    Per month$1,889

    With a credit score of 580 or more. Carries mortgage insurance (MIP) up front and every month.

    HUD Handbook 4000.1 (Update 18), II.A.2.a.iv — Minimum Required Investment · In effect since September 14, 2016

  2. Conventional Program rule

    Minimum down3%

    In dollars$8,667

    Per month$1,898

    3% is the lowest standard option. With less than 20% down you pay private mortgage insurance (PMI) until you have more equity.

    Fannie Mae Selling Guide B5-6-01 — HomeReady Mortgage Loan and Borrower Eligibility · In effect since January 1, 2024

  3. VA Program rule

    Minimum down0%

    In dollars$0

    Per month$1,957

    For veterans, service members and some spouses. No down payment as long as the price is not above the appraisal; charges a one-time funding fee.

    VA: Purchase loan — benefits · In effect since January 1, 2020

  4. USDA Program rule

    Minimum down0%

    In dollars$0

    Per month$1,957

    Only homes in eligible rural areas and households within USDA’s income limit. Finances the full price.

    7 CFR §3555.103 — Maximum loan amount (Guaranteed Rural Housing Program) · In effect since December 9, 2013

  5. ITIN or other Example, not a rule

    Minimum down15%

    In dollars$43,335

    Per month$1,664

    ITIN loans follow no federal rule: each lender sets its own down payment and rate, and usually asks for more. 15% is an example.

Loan limits

FHA and conforming limit in every county

FHA sets the limit by area: 9 of the 100 counties in North Carolina are high-cost and sit above the national floor ($541,287). The conforming limit is the most Fannie Mae and Freddie Mac will buy; above it, the loan is a “jumbo”.

One unit. For 2- to 4-unit homes, each county page has the full table. Source: FHA mortgage limits (HUD) Data from 2026 data FHA mortgage limits (HUD)

Down payment help

North Carolina programs for buyers

2 verified programs that put money toward the down payment or closing costs, or give a tax credit. With the source wording and the date we checked it.

Some help is a grant you never repay; other help is a second loan that is forgiven over the years or repaid when you sell. Each program’s tag says which kind it is.

See all programs

  • NC Home Advantage Mortgage

    Verified November 5, 2026

    NCHFA fixed-rate mortgage with down payment assistance, for first-time buyers and for people who have owned a home before, in North Carolina

    • Forgivable
    See details

  • Community Partners Loan Pool (CPLP)

    Verified November 5, 2026

    NCHFA interest-free loan with deferred payments of up to 25% of the price (maximum $50,000) for the down payment of low- and moderate-income buyers in North Carolina; you apply through a member organization

    • Deferred
    See details

What the state publishes

North Carolina rules that change the math

Exemptions that lower property tax and taxes paid when the deed is recorded, summarized from the official page each one cites.

Property tax in North Carolina

Exemptions and caps

  • Elderly or Disabled Homestead Exclusion

    Excludes $25,000 or half of your home's value, whichever is greater, if you are 65 or older or totally and permanently disabled and last year's income is within the limit the Department of Revenue sets each year. You apply by June 1 with Form AV-9 to your county assessor.

    N.C.G.S. §105-277.1 · North Carolina General Assembly (statute) · Verified October 15, 2026

When the sale is recorded

  • Excise tax on conveyances

    When the deed is recorded, the seller pays the county register of deeds $1 for each $500 of the price.

    N.C.G.S. §105-228.30 · North Carolina General Assembly (statute) · Verified October 15, 2026

Your next steps

Where to go next in North Carolina

What you can do today, free and without giving personal information. Go in order: your numbers first, then the help.

  1. Run the numbers with your figures

    The North Carolina calculator already has the typical value, the average rate and the state’s property tax.

  2. Check whether you qualify for help

    Each program says what it gives, who qualifies and when we checked it.

  3. Talk to a counselor for free

    52 HUD-approved agencies help you prepare to buy; 23 say they serve in Spanish.

  4. Follow the steps to buy a home

    From the budget to the keys, in order.

Frequently asked questions

How much down payment do I need for a typical home in North Carolina?

For a $288,900 home (typical value, Average 2020–2024), the FHA minimum (3.5%) is $10,112 and the conventional minimum (3%) is $8,667. VA and USDA ask no down payment if you qualify. State programs can cover part of it.

Are there high-cost counties in North Carolina?

Yes. In 2026 data, 9 of the 100 counties in North Carolina have an FHA limit above the national floor ($541,287); the highest is Perquimans County ($805,000).

What is the conforming loan limit in North Carolina?

In 2026 data, the conforming limit for one unit is $832,750 in every county in North Carolina: the most Fannie Mae and Freddie Mac will buy. Above it, the loan is a “jumbo” and each lender sets its own terms.

What would the monthly payment be on a typical home in North Carolina?

With $288,900, the FHA minimum down payment ($10,112) and the 7.18% average rate (November 5, 2026), principal and interest over 30 years comes to about $1,889 a month. Tax, insurance and mortgage insurance are missing: the calculator adds them.

What down payment help is there in North Carolina?

We have verified 2 state programs in North Carolina that put money toward the down payment or closing costs, or give a tax credit. Each shows the source wording, who qualifies and the date we checked it.