Next Door Lending

North Carolina 2021 Conforming Loan Limits

North Carolina 2021 Conforming Loan Limits

PurchaseFinanceConforming Loan Limits

North Carolina 2021 Conforming Loan Limits

Author

NextDoor Lending

NextDoor Lending

Read Time

5 Mins

Date Published

May 9, 2022

The 2021 Conforming limit in North Carolina counties is between $548,250 and $625,500 for 1-unit properties and between $702,000 and $800,775 for 2-unit properties. See below for limits on 3 and 4 units.

\n

Alamance County
1 Unit - $548,250
2 Unit – $702,000\t
3 Unit - $848,500
4 Unit - $1,054,500

\n

Alexander County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Alleghany County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Anson County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Ashe County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Avery County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Beaufort County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Bertie County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Bladen County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Brunswick County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Buncombe County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Burke County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Cabarrus County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Caldwell County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Camden County
1 Unit -\t$625,500
2 Unit - $800,775
3 Unit – $967,950
4 Unit - $1,202,925

\n

Carteret County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Caswell County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Catawba County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Chatham County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Cherokee County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Chowan County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Clay County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Cleveland County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Columbus County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Craven County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Cumberland County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Currituck County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Dare County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Davidson County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Davie County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Duplin County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Durham County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Edgecombe County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Forsyth County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Franklin County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Gaston County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Gates County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Graham County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Granville County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Greene County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Guilford County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Halifax County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Harnett County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Haywood County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Henderson County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Hertford County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Hoke County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Hyde County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Iredell County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Jackson County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Johnston County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Jones County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Lee County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Lenoir County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Lincoln County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Mcdowell County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Macon County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Madison County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Martin County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Mecklenburg County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Mitchell County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Montgomery County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Moore County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Nash County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

New Hanover County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Northampton County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Onslow County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Orange County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Pamlico County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Pasquotank County
1 Unit -\t$625,500
2 Unit - $800,775
3 Unit – $967,950
4 Unit - $1,202,925

\n

Pender County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Perquimans County
1 Unit -\t$625,500
2 Unit - $800,775
3 Unit – $967,950
4 Unit - $1,202,925

\n

Person County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Pitt County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Polk County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Randolph County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Richmond County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Robeson County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Rockingham County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Rowan County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Rutherford County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Sampson County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Scotland County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Stanly County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Stokes County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Surry County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Swain County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Transylvania County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Tyrrell County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Union County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Vance County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Wake County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Warren County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Washington County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Watauga County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Wayne County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Wilkes County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Wilson County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Yadkin County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Yancey County
1 Unit -\t$548,250
2 Unit - $702,000
3 Unit – $848,500
4 Unit - $1,054,500

\n

Information sourced from hud.gov.

\n

Author

NextDoor Lending

NextDoor Lending

Read Time

5 Mins

Date Published

May 9, 2022

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NextDoor Lending5 min read

FHA 203k Renovation Loan

What are FHA 203k loans? 203k loans, also known as FHA 203k loans or Rehabilitation loans, are a type of mortgage offered by the Federal Housing Administration (FHA) to help buyers purchase and renovate a property. These loans are designed to help people who want to buy a home that needs repairs or renovations, but may not have the funds to make the necessary repairs before moving in. What are the benefits? One of the main benefits of 203k loans is that they allow homebuyers to purchase and renovate a property with just one loan, rather than having to take out multiple loans. This can be more convenient and cost-effective, as it eliminates the need to pay closing costs multiple times and to go through the mortgage process multiple times. Another benefit of 203k loans is that they are available to a wide range of buyers, including first-time homebuyers and those with lower credit scores. FHA loans have less strict credit and down payment requirements compared to traditional mortgages, making it easier for buyers to qualify for a 203k loan. 203k loans are also flexible, allowing for a wide range of renovations and repairs to be made. These can include structural repairs, energy-efficient upgrades, accessibility improvements, and more. This flexibility allows buyers to customize their home to their specific needs and preferences, rather than being limited to the condition of the property as-is. What is the downside? However, 203k loans also have some drawbacks. One of the main drawbacks is that they can be more complex and time-consuming to process compared to traditional mortgages. This is because the loan process includes additional steps such as a property inspection and the development of a renovation plan. Additionally, buyers must also work with a 203k consultant and a HUD-approved contractor, which can add to the time and cost of the loan process. What is our recap? Overall, 203k loans can be a great option for buyers who want to purchase and renovate a property in need of repairs, but they may require more time, effort and money to close a deal. It's important for buyers to carefully consider their options and work closely with a lender experienced with 203k loans to ensure a smooth and successful transaction.

January 19, 2023

PurchaseFinance

NextDoor Lending

NextDoor Lending5 min read

Will Rates Stay Low This Winter?

While no one has a crystal ball when it comes to predicting mortgage rate trends, the consensus is that rates will likely rise at the end of 2021. But that doesn’t mean rates will shoot up overnight! So far, the increase in rates has come with ups and downs marked by a gradual rise over time. \nShould I Wait?\nTiming the market can be a dangerous game. If you’re ready to lock a mortgage rate now, it’s a great time to do so. If you’re just starting on your home purchase or refinance journey, however, don’t stress. Even the highest mortgage rate predictions for 2021 are still “low” by historical standards. So, there’s nothing wrong with waiting until you’re ready.\nWinter is a Great Time to Buy\nWinter is typically a slow time in the real estate market and this year will most likely not be an exception. Many homeowners take their homes off the market because they are busy with family and the holidays. Only sellers who are extremely motivated tend to leave their home on the market, providing opportunities for buyers to find hidden gems. This also means that realtors as well as mortgage lenders have less business during these cold months so both can help you find low rates or affordable repayment options if needed.\n

PurchaseFinanceTerms

NextDoor Lending

NextDoor Lending5 min read

Home Inspection VS. Appraisal

If you're looking to purchase a home, it can be an overwhelming process. There are many real estate and mortgage terms that may confuse you--one example is the difference between an appraisal and inspection. Understanding what these functions do for both parties involved will help make smarter decisions in your quest for housing!\nHome Inspection\nHome inspections are important for buyers to keep their investment protected. Insuring your purchase is a smart move, and who doesn't want peace of mind? A home inspection is one way you can do this; it's scheduled in advance before the final papers are signed so there won't be any surprises later on. With an inspector coming out beforehand, they evaluate if anything would go wrong down the line with structures or other issues that could have been unknown about until after closing time! They will usually check for leaks or needed repairs in electrical work, plumbing issues, built-ins (like cabinets), roofing material/condition; focus on anything from building code violations to structural concerns like termites. Once inspected it's up to prospective homebuyers as whether they want this information disclosed with their offer.\nHome inspections are an essential part of buying a new home. They allow buyers to learn more about their future property and can even save them from unpleasant surprises in the process! For those who don't know any inspection companies, your realtor should be able to give you some recommendations. You can also check out the American Society of Home Inspectors to help you choose. They have a list of which organizations are qualified and they offer tips on how to be ready for your inspection.\nAppraisal\nAn appraisal is an unbiased third party often assigned by the mortgage lender to make sure that all parties involved (buyer, seller, and lender) receive a fair price for property. Appraisers are highly trained professionals who must meet certain academic qualifications before they can be licensed as appraiser through their state's governing body. Most lenders have a list of qualified appraisers from which you may choose one whose opinion will best suit your needs! The inspector will make sure the property is up to code and that any potential hazards are eliminated. They also check for comparable sales in the area, which makes them a great resource when it comes time to sell your home. Once they have completed their inspection, they'll compile all this information into a detailed report that includes pictures and calculations on how much each facet would affect the house value if changed. This way you won't need to guess about any details or wonder why your appraisal is higher than another one while trying to negotiate with potential buyers!\nBuying your first home is an exciting and exhilarating process. It can also be confusing and a little scary; that's why Next Door Lending is here to help with all of your financing needs! If you're thinking about buying a house or have questions about mortgages, get in touch with one of our loan officers today.\n

PurchaseFinanceFHA Loan Limits

NextDoor Lending

NextDoor Lending5 min read

FHA 203k Renovation Loan

What are FHA 203k loans? 203k loans, also known as FHA 203k loans or Rehabilitation loans, are a type of mortgage offered by the Federal Housing Administration (FHA) to help buyers purchase and renovate a property. These loans are designed to help people who want to buy a home that needs repairs or renovations, but may not have the funds to make the necessary repairs before moving in. What are the benefits? One of the main benefits of 203k loans is that they allow homebuyers to purchase and renovate a property with just one loan, rather than having to take out multiple loans. This can be more convenient and cost-effective, as it eliminates the need to pay closing costs multiple times and to go through the mortgage process multiple times. Another benefit of 203k loans is that they are available to a wide range of buyers, including first-time homebuyers and those with lower credit scores. FHA loans have less strict credit and down payment requirements compared to traditional mortgages, making it easier for buyers to qualify for a 203k loan. 203k loans are also flexible, allowing for a wide range of renovations and repairs to be made. These can include structural repairs, energy-efficient upgrades, accessibility improvements, and more. This flexibility allows buyers to customize their home to their specific needs and preferences, rather than being limited to the condition of the property as-is. What is the downside? However, 203k loans also have some drawbacks. One of the main drawbacks is that they can be more complex and time-consuming to process compared to traditional mortgages. This is because the loan process includes additional steps such as a property inspection and the development of a renovation plan. Additionally, buyers must also work with a 203k consultant and a HUD-approved contractor, which can add to the time and cost of the loan process. What is our recap? Overall, 203k loans can be a great option for buyers who want to purchase and renovate a property in need of repairs, but they may require more time, effort and money to close a deal. It's important for buyers to carefully consider their options and work closely with a lender experienced with 203k loans to ensure a smooth and successful transaction.

January 19, 2023

PurchaseFinance

NextDoor Lending

NextDoor Lending5 min read

Will Rates Stay Low This Winter?

While no one has a crystal ball when it comes to predicting mortgage rate trends, the consensus is that rates will likely rise at the end of 2021. But that doesn’t mean rates will shoot up overnight! So far, the increase in rates has come with ups and downs marked by a gradual rise over time. \nShould I Wait?\nTiming the market can be a dangerous game. If you’re ready to lock a mortgage rate now, it’s a great time to do so. If you’re just starting on your home purchase or refinance journey, however, don’t stress. Even the highest mortgage rate predictions for 2021 are still “low” by historical standards. So, there’s nothing wrong with waiting until you’re ready.\nWinter is a Great Time to Buy\nWinter is typically a slow time in the real estate market and this year will most likely not be an exception. Many homeowners take their homes off the market because they are busy with family and the holidays. Only sellers who are extremely motivated tend to leave their home on the market, providing opportunities for buyers to find hidden gems. This also means that realtors as well as mortgage lenders have less business during these cold months so both can help you find low rates or affordable repayment options if needed.\n

PurchaseFinanceTerms

NextDoor Lending

NextDoor Lending5 min read

Home Inspection VS. Appraisal

If you're looking to purchase a home, it can be an overwhelming process. There are many real estate and mortgage terms that may confuse you--one example is the difference between an appraisal and inspection. Understanding what these functions do for both parties involved will help make smarter decisions in your quest for housing!\nHome Inspection\nHome inspections are important for buyers to keep their investment protected. Insuring your purchase is a smart move, and who doesn't want peace of mind? A home inspection is one way you can do this; it's scheduled in advance before the final papers are signed so there won't be any surprises later on. With an inspector coming out beforehand, they evaluate if anything would go wrong down the line with structures or other issues that could have been unknown about until after closing time! They will usually check for leaks or needed repairs in electrical work, plumbing issues, built-ins (like cabinets), roofing material/condition; focus on anything from building code violations to structural concerns like termites. Once inspected it's up to prospective homebuyers as whether they want this information disclosed with their offer.\nHome inspections are an essential part of buying a new home. They allow buyers to learn more about their future property and can even save them from unpleasant surprises in the process! For those who don't know any inspection companies, your realtor should be able to give you some recommendations. You can also check out the American Society of Home Inspectors to help you choose. They have a list of which organizations are qualified and they offer tips on how to be ready for your inspection.\nAppraisal\nAn appraisal is an unbiased third party often assigned by the mortgage lender to make sure that all parties involved (buyer, seller, and lender) receive a fair price for property. Appraisers are highly trained professionals who must meet certain academic qualifications before they can be licensed as appraiser through their state's governing body. Most lenders have a list of qualified appraisers from which you may choose one whose opinion will best suit your needs! The inspector will make sure the property is up to code and that any potential hazards are eliminated. They also check for comparable sales in the area, which makes them a great resource when it comes time to sell your home. Once they have completed their inspection, they'll compile all this information into a detailed report that includes pictures and calculations on how much each facet would affect the house value if changed. This way you won't need to guess about any details or wonder why your appraisal is higher than another one while trying to negotiate with potential buyers!\nBuying your first home is an exciting and exhilarating process. It can also be confusing and a little scary; that's why Next Door Lending is here to help with all of your financing needs! If you're thinking about buying a house or have questions about mortgages, get in touch with one of our loan officers today.\n