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North Carolina FHA Home Loans

FHA Mortgage Loan Programs in North Carolina
FHA Loan Requirements - 2022 FHA Loan Limits

North Carolina FHA Loan | Requirements | 2022 FHA Loan Limits

FHA loans provide a great opportunity to buy a home in North Carolina.  The FHA (Federal Housing Administration) was created to help the average American have a chance at owning their own home.  One of the reasons that FHA loans are so popular is because of the low down payment option.  FHA loans allow you to purchase a home with only a 3.5% down payment.  There are also less strict requirements to get an FHA loan (compared to conventional loans), such as being able to qualify with a credit score as low as 500.

North Carolina FHA Loan Requirements

Below are some of the basic requirements to get an FHA loan in North Carolina.  If you would like to find out if you are eligible for an FHA loan, we can help match you with a lender.  To have an FHA lender contact you, request a free consultation.

  • Credit Score – To qualify for the 3.5% down payment, you must have a 580 credit score or higher. If your credit score is between a 500-579, you still may qualify for an FHA loan, but will be required to put 10% down.
  • Job History – Proof of employment for 2 years is required. It is ok if you have changed jobs, but you need to show consistent employment/income.
  • Financial Statements – You should expect to be required to provide your 2 most recent bank statements, pay stubs, and tax returns.
  • Debt-to-Income – You can not have a debt-to-income ratio higher than 43%.  However, if you have “compensating factors” you might be able to get approved with higher debt levels (a compensating factor could be more money in savings, longer job history, or great credit).
  • Primary Residence – You must occupy the home that you intend to purchase and have it be your primary residence. FHA loans are not available to purchase an investment property, second home, or vacation home.
  • Mortgage Insurance – All FHA loans, regardless of the lender, require two types of mortgage insurance.  This includes the UPMIP (Upfront Mortgage Insurance Premium) and the regular MIP (Mortgage Insurance Premium).  FHA MIP acts similarly to how PMI (Private Mortgage Insurance) on a conventional loan acts.  You can use this FHA loan calculator to estimate your monthly payment and mortgage insurance costs.
  • FHA Loan Limits – FHA loans have maximum lending limits, which are set at the county level. You can view the 2022 FHA loan limits for all counties in North Carolina below.

Would you like to see if you qualify for an FHA loan?  We can help match you with a mortgage lender that offers FHA loans in North Carolina.  To have an FHA lender contact you, request a free consultation.

2022 North Carolina FHA Loan Limits

Below are the 2022 FHA loan limits for every county in North Carolina:

County Single Family (1 Unit) 2 Units 3 Units 4 Units
ALAMANCE $420,680 $538,650 $651,050 $809,150
ALEXANDER $420,680 $538,650 $651,050 $809,150
ALLEGHANY $420,680 $538,650 $651,050 $809,150
ANSON $420,680 $538,650 $651,050 $809,150
ASHE $420,680 $538,650 $651,050 $809,150
AVERY $420,680 $538,650 $651,050 $809,150
BEAUFORT $420,680 $538,650 $651,050 $809,150
BERTIE $420,680 $538,650 $651,050 $809,150
BLADEN $420,680 $538,650 $651,050 $809,150
BRUNSWICK $420,680 $538,650 $651,050 $809,150
BUNCOMBE $420,680 $538,650 $651,050 $809,150
BURKE $420,680 $538,650 $651,050 $809,150
CABARRUS $420,680 $538,650 $651,050 $809,150
CALDWELL $420,680 $538,650 $651,050 $809,150
CAMDEN $488,750 $625,700 $756,300 $939,900
CARTERET $420,680 $538,650 $651,050 $809,150
CASWELL $420,680 $538,650 $651,050 $809,150
CATAWBA $420,680 $538,650 $651,050 $809,150
CHATHAM $506,000 $647,750 $783,000 $973,100
CHEROKEE $420,680 $538,650 $651,050 $809,150
CHOWAN $420,680 $538,650 $651,050 $809,150
CLAY $420,680 $538,650 $651,050 $809,150
CLEVELAND $420,680 $538,650 $651,050 $809,150
COLUMBUS $420,680 $538,650 $651,050 $809,150
CRAVEN $420,680 $538,650 $651,050 $809,150
CUMBERLAND $420,680 $538,650 $651,050 $809,150
CURRITUCK $488,750 $625,700 $756,300 $939,900
DARE $471,500 $603,600 $729,600 $906,750
DAVIDSON $420,680 $538,650 $651,050 $809,150
DAVIE $420,680 $538,650 $651,050 $809,150
DUPLIN $420,680 $538,650 $651,050 $809,150
DURHAM $506,000 $647,750 $783,000 $973,100
EDGECOMBE $420,680 $538,650 $651,050 $809,150
FORSYTH $420,680 $538,650 $651,050 $809,150
FRANKLIN $420,680 $538,650 $651,050 $809,150
GASTON $420,680 $538,650 $651,050 $809,150
GATES $488,750 $625,700 $756,300 $939,900
GRAHAM $420,680 $538,650 $651,050 $809,150
GRANVILLE $506,000 $647,750 $783,000 $973,100
GREENE $420,680 $538,650 $651,050 $809,150
GUILFORD $420,680 $538,650 $651,050 $809,150
HALIFAX $420,680 $538,650 $651,050 $809,150
HARNETT $420,680 $538,650 $651,050 $809,150
HAYWOOD $420,680 $538,650 $651,050 $809,150
HENDERSON $420,680 $538,650 $651,050 $809,150
HERTFORD $420,680 $538,650 $651,050 $809,150
HOKE $420,680 $538,650 $651,050 $809,150
HYDE $483,000 $618,300 $747,400 $928,850
IREDELL $420,680 $538,650 $651,050 $809,150
JACKSON $420,680 $538,650 $651,050 $809,150
JOHNSTON $420,680 $538,650 $651,050 $809,150
JONES $420,680 $538,650 $651,050 $809,150
LEE $420,680 $538,650 $651,050 $809,150
LENOIR $420,680 $538,650 $651,050 $809,150
LINCOLN $420,680 $538,650 $651,050 $809,150
MCDOWELL $420,680 $538,650 $651,050 $809,150
MACON $420,680 $538,650 $651,050 $809,150
MADISON $420,680 $538,650 $651,050 $809,150
MARTIN $420,680 $538,650 $651,050 $809,150
MECKLENBURG $420,680 $538,650 $651,050 $809,150
MITCHELL $420,680 $538,650 $651,050 $809,150
MONTGOMERY $420,680 $538,650 $651,050 $809,150
MOORE $420,680 $538,650 $651,050 $809,150
NASH $420,680 $538,650 $651,050 $809,150
NEW HANOVER $420,680 $538,650 $651,050 $809,150
NORTHAMPTON $420,680 $538,650 $651,050 $809,150
ONSLOW $420,680 $538,650 $651,050 $809,150
ORANGE $506,000 $647,750 $783,000 $973,100
PAMLICO $420,680 $538,650 $651,050 $809,150
PASQUOTANK $805,000 $1,030,550 $1,245,700 $1,548,100
PENDER $420,680 $538,650 $651,050 $809,150
PERQUIMANS $805,000 $1,030,550 $1,245,700 $1,548,100
PERSON $506,000 $647,750 $783,000 $973,100
PITT $420,680 $538,650 $651,050 $809,150
POLK $420,680 $538,650 $651,050 $809,150
RANDOLPH $420,680 $538,650 $651,050 $809,150
RICHMOND $420,680 $538,650 $651,050 $809,150
ROBESON $420,680 $538,650 $651,050 $809,150
ROCKINGHAM $420,680 $538,650 $651,050 $809,150
ROWAN $420,680 $538,650 $651,050 $809,150
RUTHERFORD $420,680 $538,650 $651,050 $809,150
SAMPSON $420,680 $538,650 $651,050 $809,150
SCOTLAND $420,680 $538,650 $651,050 $809,150
STANLY $420,680 $538,650 $651,050 $809,150
STOKES $420,680 $538,650 $651,050 $809,150
SURRY $420,680 $538,650 $651,050 $809,150
SWAIN $420,680 $538,650 $651,050 $809,150
TRANSYLVANIA $420,680 $538,650 $651,050 $809,150
TYRRELL $420,680 $538,650 $651,050 $809,150
UNION $420,680 $538,650 $651,050 $809,150
VANCE $420,680 $538,650 $651,050 $809,150
WAKE $420,680 $538,650 $651,050 $809,150
WARREN $420,680 $538,650 $651,050 $809,150
WASHINGTON $420,680 $538,650 $651,050 $809,150
WATAUGA $420,680 $538,650 $651,050 $809,150
WAYNE $420,680 $538,650 $651,050 $809,150
WILKES $420,680 $538,650 $651,050 $809,150
WILSON $420,680 $538,650 $651,050 $809,150
YADKIN $420,680 $538,650 $651,050 $809,150
YANCEY $420,680 $538,650 $651,050 $809,150

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