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2021 FHA Loan Limits in North Carolina

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For most of North Carolina, the FHA loan limit for a single-family home is $356,362. Some higher-cost counties, however, have limits available up to $805,000.

If you’ve dreamed of owning a home near sandy shorelines, lush forests or an up-and-coming city, now may be the perfect time to start looking in North Carolina. Thanks to the Federal Housing Administration (FHA), some North Carolina residents can qualify for federally backed loans that have lower credit score and down payment requirements. This year, homebuyers and current homeowners will be able to borrow even more with an FHA loan to purchase or refinance a home.

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 $356,362 $456,275 $551,500 $685,400 $175,000
Alexander $356,362 $456,275 $551,500 $685,400 $155,000
Alleghany $356,362 $456,275 $551,500 $685,400 $85,000
Anson $356,362 $456,275 $551,500 $685,400 $304,000
Ashe $356,362 $456,275 $551,500 $685,400 $111,000
Avery $356,362 $456,275 $551,500 $685,400 $178,000
Beaufort $356,362 $456,275 $551,500 $685,400 $155,000
Bertie $356,362 $456,275 $551,500 $685,400 $50,000
Bladen $356,362 $456,275 $551,500 $685,400 $77,000
Brunswick $356,362 $456,275 $551,500 $685,400 $235,000
Buncombe $356,362 $456,275 $551,500 $685,400 $285,000
Burke $356,362 $456,275 $551,500 $685,400 $155,000
Cabarrus $356,362 $456,275 $551,500 $685,400 $304,000
Caldwell $356,362 $456,275 $551,500 $685,400 $155,000
Camden $458,850 $587,400 $710,050 $882,400 $362,000
Carteret $356,362 $456,275 $551,500 $685,400 $240,000
Caswell $356,362 $456,275 $551,500 $685,400 $85,000
Catawba $356,362 $456,275 $551,500 $685,400 $155,000
Chatham $437,000 $559,450 $676,200 $840,400 $380,000
Cherokee $356,362 $456,275 $551,500 $685,400 $140,000
Chowan $356,362 $456,275 $551,500 $685,400 $142,000
Clay $356,362 $456,275 $551,500 $685,400 $196,000
Cleveland $356,362 $456,275 $551,500 $685,400 $110,000
Columbus $356,362 $456,275 $551,500 $685,400 $75,000
Craven $356,362 $456,275 $551,500 $685,400 $171,000
Cumberland $356,362 $456,275 $551,500 $685,400 $195,000
Currituck $458,850 $587,400 $710,050 $882,400 $362,000
Dare $396,750 $507,900 $613,950 $763,000 $345,000
Davidson $356,362 $456,275 $551,500 $685,400 $180,000
Davie $356,362 $456,275 $551,500 $685,400 $180,000
Duplin $356,362 $456,275 $551,500 $685,400 $80,000
Durham $437,000 $559,450 $676,200 $840,400 $380,000
Edgecombe $356,362 $456,275 $551,500 $685,400 $144,000
Forsyth $356,362 $456,275 $551,500 $685,400 $180,000
Franklin $371,450 $475,500 $574,800 $714,350 $323,000
Gaston $356,362 $456,275 $551,500 $685,400 $304,000
Gates $458,850 $587,400 $710,050 $882,400 $362,000
Graham $356,362 $456,275 $551,500 $685,400 $132,000
Granville $437,000 $559,450 $676,200 $840,400 $380,000
Greene $356,362 $456,275 $551,500 $685,400 $65,000
Guilford $356,362 $456,275 $551,500 $685,400 $180,000
Halifax $356,362 $456,275 $551,500 $685,400 $125,000
Harnett $356,362 $456,275 $551,500 $685,400 $195,000
Haywood $356,362 $456,275 $551,500 $685,400 $285,000
Henderson $356,362 $456,275 $551,500 $685,400 $285,000
Hertford $356,362 $456,275 $551,500 $685,400 $57,000
Hoke $356,362 $456,275 $551,500 $685,400 $195,000
Hyde $483,000 $618,300 $747,400 $928,850 $99,000
Iredell $356,362 $456,275 $551,500 $685,400 $304,000
Jackson $356,362 $456,275 $551,500 $685,400 $257,000

How are FHA loan limits determined?

The U.S. Department of Housing and Urban Development (HUD) sets limits on how expensive a house the FHA will insure in each county in the United States. These limits are set based on the current year’s conforming loan limit — or how large of a mortgage Fannie Mae and Freddie Mac will purchase. In 2021, that conforming limit is $548,250, up roughly $38,000 from 2020’s limit of $510,400.

The FHA “floor” is the largest mortgage the agency will issue in most of the country and is 65% of the conforming loan limit. In 2021, the FHA floor is set at $356,362, an increase of about $24,600 above the 2020 limit of $331,760.

The FHA “ceiling” is a higher limit that only applies to high-cost areas. This is set at 150% of the conforming loan limit, or $822,375 for single-family homes. With a few exceptions, this is generally the largest mortgage amount the agency will insure for a single-family home. In many parts of the country, loan limits fall somewhere between the FHA floor and ceiling.

Outside of the lower 48 states, FHA maximum loan limits are higher because of more expensive construction costs. These include the special exception areas of Alaska, Hawaii, Guam and the U.S. Virgin Islands.

Here are the 2021 standard FHA limits for all property types:

  • One-unit: $356,362
  • Two-unit: $456,275
  • Three-unit: $551,500
  • Four-unit: $685,400

Here are the 2021 standard FHA limits for high-cost areas:

  • One-unit: $822,375
  • Two-unit: $1,053,000
  • Three-unit: $1,272,750
  • Four-unit: $1,581,750

Do you qualify for an FHA loan in North Carolina?

FHA loans are a great deal for qualified buyers, thanks to lower down payments and closing costs. Find out if your credit score and income will help you qualify for one of these loans.

 

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