First-Time Home Buyer North Carolina 2026
Your complete guide to buying your first home in North Carolina. 2+ down payment assistance programs, FHA loans from 5.95%, and step-by-step guidance.
What First-Time Buyer Programs Are Available in North Carolina?
North Carolina offers 2 major first-time home buyer assistance programs. These include NC Home Advantage Mortgage, NC 1st Home Advantage. Programs provide up to 5% of loan in down payment assistance through grants, forgivable loans, and below-market interest rates.
How Much Do I Need to Buy in North Carolina?
You can buy a home in North Carolina with as little as $0 down. VA and USDA loans require zero down payment. FHA loans need just 3.5% ($$11,375), and conventional loans start at 3% ($$9,750) on the median price of $325,000.
| Loan Type | Down Payment | $ Amount | Monthly P&I | Min Credit |
|---|---|---|---|---|
| VA Loan | 0% | $0 | $1,928 | 620 |
| USDA Loan | 0% | $0 | $1,980 | 640 |
| Conventional 3% | 3% | $9,750 | $1,921 | 620 |
| FHA Loan | 3.5% | $11,375 | $1,870 | 580 |
| Conventional 20% | 20% | $65,000 | $1,584 | 620 |
North Carolina Down Payment Assistance Programs
NC Home Advantage Mortgage
DPA up to 5% as forgivable second mortgage
NC 1st Home Advantage
$15K DPA for first-time and military buyers
5 Steps to Buy Your First Home in North Carolina
To buy your first home in North Carolina, start by checking your credit score, getting pre-approved, and researching DPA programs. The entire process typically takes 30-60 days from pre-approval to closing. Here's your step-by-step roadmap.
Check Your Credit & Finances
Review your credit score (aim for 620+), calculate your debt-to-income ratio, and save for closing costs. In North Carolina, you may need as little as $11,375 for an FHA down payment.
Get Pre-Approved
Compare rates from at least 3 lenders. Current North Carolina rates: 6.15% (30-year), 5.95% (FHA). Pre-approval shows sellers you're serious and locks your rate.
Apply for North Carolina DPA Programs
North Carolina has 2+ DPA programs. The NC Home Advantage Mortgage offers up to 5% of loan. Apply early—funding can be limited.
House Hunt & Make an Offer
Popular cities in North Carolina: Charlotte, Raleigh, Greensboro, Durham, Winston-Salem. Median price is $325,000 (+5.8% YoY). Work with a local real estate agent who knows the market.
Close on Your New Home
Closing costs in North Carolina typically run 2-5% of the purchase price ($9,750-$16,250). Some DPA programs also cover closing costs.
Start Your North Carolina Home Buying Journey
Get pre-approved in minutes and see what you qualify for.
Get Pre-Approved NowNorth Carolina First-Time Buyer FAQ
What first-time home buyer programs are available in North Carolina?
North Carolina offers 2 major programs: NC Home Advantage Mortgage, NC 1st Home Advantage. These provide grants, forgivable loans, and below-market rates for down payment and closing cost assistance.
How much down payment do I need in North Carolina?
As little as $0 (VA/USDA), $$9,750 (3% conventional), or $$11,375 (3.5% FHA) on the median price of $325,000.
What income do I need to buy in North Carolina?
Using the 28% rule, you'd need approximately $$80,154/year. The median household income in North Carolina is $60,516.
What is the FHA loan limit in North Carolina?
The 2026 FHA loan limit in North Carolina is $472,030. The conforming loan limit is $766,550.