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First-Time Buyer loans in North Carolina

Quick answer

First-time buyers in North Carolina can use FHA (3.5% down), conventional 97 (3% down), VA or USDA loans, plus programs from North Carolina Housing Finance Agency (NCHFA). On a $259,400 home, 3% down is about $7,782.

By Purchase Mortgage Loan Editorial Team Checked against official sources per our editorial standardsLast updated

First-Time Buyer loan snapshot for North Carolina

ItemEstimate
Minimum down payment0%–3.5%
Minimum credit score580–620
Typical NC home value$259,400
3.5% down on typical home$9,079
20% down on typical home$51,880
Avg. effective property tax0.70%/yr (~$151/mo)
Income for typical home (31% rule)$80,000

Rate assumption: 7.18% (Freddie Mac PMMS 30-year fixed average, week of November 5, 2026). Change it in the payment calculator.

Which North Carolina programs pair with First-Time Buyer loans?

  • NC Home Advantage Mortgage: A first mortgage with down payment assistance for first-time and repeat buyers.
  • NC 1st Home Advantage Down Payment: Deferred, forgivable assistance for first-time buyers and military veterans.

Details and current limits: North Carolina Housing Finance Agency (NCHFA).

Compare first-time buyer loan options

LoanMin. downMin. creditMortgage insurance
FHA3.5%5801.75% upfront + annual MIP
Conventional 97 / HomeReady / Home Possible3%620PMI, removable
VA0%Lender-set (~580–620)None (funding fee)
USDA0%~6401% upfront + 0.35% annual

Who counts as a first-time home buyer?

Under HUD and most agency definitions, you're a first-time buyer if you haven't owned a principal residence in the last three years. Single parents and displaced homemakers who only owned with a former spouse may also qualify.

First-Time Buyer loans in North Carolina cities

First-Time Buyer in CharlotteFirst-Time Buyer in RaleighFirst-Time Buyer in GreensboroFirst-Time Buyer in DurhamFirst-Time Buyer in Winston-SalemFirst-Time Buyer in FayettevilleFirst-Time Buyer in CaryFirst-Time Buyer in WilmingtonFirst-Time Buyer in High PointFirst-Time Buyer in ConcordFirst-Time Buyer in AshevilleFirst-Time Buyer in GreenvilleFirst-Time Buyer in GastoniaFirst-Time Buyer in JacksonvilleFirst-Time Buyer in ApexFirst-Time Buyer in HuntersvilleFirst-Time Buyer in Chapel HillFirst-Time Buyer in BurlingtonFirst-Time Buyer in KannapolisFirst-Time Buyer in Rocky MountFirst-Time Buyer in MooresvilleFirst-Time Buyer in Wake ForestFirst-Time Buyer in WilsonFirst-Time Buyer in HickoryFirst-Time Buyer in Holly SpringsFirst-Time Buyer in Indian TrailFirst-Time Buyer in Fuquay-VarinaFirst-Time Buyer in SalisburyFirst-Time Buyer in MonroeFirst-Time Buyer in GoldsboroFirst-Time Buyer in GarnerFirst-Time Buyer in CorneliusFirst-Time Buyer in New BernFirst-Time Buyer in SanfordFirst-Time Buyer in MorrisvilleFirst-Time Buyer in MatthewsFirst-Time Buyer in StatesvilleFirst-Time Buyer in ClaytonFirst-Time Buyer in KernersvilleFirst-Time Buyer in AsheboroFirst-Time Buyer in ThomasvilleFirst-Time Buyer in Mint HillFirst-Time Buyer in LelandFirst-Time Buyer in ShelbyFirst-Time Buyer in ClemmonsFirst-Time Buyer in WaxhawFirst-Time Buyer in CarrboroFirst-Time Buyer in LexingtonFirst-Time Buyer in KinstonFirst-Time Buyer in BooneFirst-Time Buyer in KnightdaleFirst-Time Buyer in LumbertonFirst-Time Buyer in HarrisburgFirst-Time Buyer in MebaneFirst-Time Buyer in Elizabeth CityFirst-Time Buyer in LenoirFirst-Time Buyer in PinehurstFirst-Time Buyer in Mount HollyFirst-Time Buyer in Hope MillsFirst-Time Buyer in Morganton

Frequently asked questions

Yes. First-Time Buyer loans are available statewide in North Carolina through approved lenders, subject to county loan limits where they apply.

Often yes. North Carolina Housing Finance Agency (NCHFA) and local programs frequently pair assistance with FHA, conventional, VA or USDA first mortgages. Eligibility depends on income, price and program rules.

Answer a few questions on Purchase Mortgage Loan and we'll match you with lenders and loan officers in our network who serve North Carolina.

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Figures on this page are estimates for educational purposes only and are not a loan offer or commitment to lend. Rates, loan limits, fees and assistance programs change frequently and vary by lender, location and borrower profile. Confirm current terms with a licensed loan officer.