2026 loan limits in North Carolina
Conforming (Fannie / Freddie)
$806,500 baseline · up to $1,209,750 in Camden, Currituck, Dare, and Pasquotank
FHA loan limit
$524,225 (baseline counties)
up to $805,000 (Outer Banks / high-cost coastal counties) in high-cost counties
What homes actually cost
Median home price: ≈ $365,000 statewide
Roughly 36% of North Carolina households can afford the state median home. The due-diligence fee means you need liquid cash beyond your down payment before you write a competitive offer.
Property taxes & insurance
Average effective property tax rate: ≈ 0.73% of assessed value
North Carolina counties revalue property at least every eight years, and many large counties now do it every four. A revaluation year can move your tax bill noticeably, so check where your county sits in its cycle before you set your monthly budget.
Average homeowners insurance: ≈ $2,100/year for a $400K home; far higher on the coast
Coastal counties are served through the North Carolina Insurance Underwriting Association (the Beach Plan) when standard carriers decline. Inland, hail and wind claims have pushed deductibles toward a percentage of the dwelling value rather than a flat dollar amount.
Down-payment assistance in North Carolina
NC Home Advantage Mortgage
Who: First-time and move-up buyers under income limits statewide
What: Up to 3% of the loan amount as down-payment assistance, forgiven at 20% per year in years 11 through 15.
NC 1st Home Advantage Down Payment
Who: First-time buyers and military veterans using an NC Housing first mortgage
What: $15,000 in down-payment assistance as a 0% deferred second, forgiven on the same 11–15 year schedule.
House Charlotte / City of Raleigh assistance
Who: Buyers purchasing within participating city limits under income caps
What: Local forgivable second mortgages, commonly $10,000–$30,000, layerable with NC Housing programs.
Is buying in North Carolina right for you?
Closing customs in North Carolina
North Carolina is an attorney-closing state. Buyers pay their own closing costs and the attorney fee. North Carolina uses a due-diligence fee — money paid directly to the seller for the right to walk away during the diligence period — that is non-refundable but credited at closing.
Frequently asked questions
What is a due-diligence fee in North Carolina?
It is a negotiated payment made directly to the seller when you go under contract, in exchange for an inspection window during which you can cancel for any reason. It is non-refundable if you walk, but it is credited toward your costs if you close. Budget for it as cash on top of earnest money.
How much down-payment help can I get in North Carolina?
NC 1st Home Advantage provides $15,000 to first-time buyers and veterans, and NC Home Advantage provides up to 3% of the loan amount for a broader set of buyers. Both are 0% deferred seconds forgiven over years 11 through 15.
Do I need an attorney to close in North Carolina?
Yes. A North Carolina attorney must handle the title search and closing. Expect roughly $700–$1,500 for the attorney's fee.
Loan programs in North Carolina
Related tools & guides
- The Complete First-Time Homebuyer's Readiness Guide
- How down payment assistance actually works
- FHA vs Conventional: Real cost comparison
- How much home you can actually afford
- All state homebuying guides
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