USDA Loan Eligibility North Carolina
North Carolina USDA loans are eligible for new or existing homes in USDA eligible areas. Although the majority of North Carolina qualifies for USDA lending, make sure to keep reading to verify property eligibility. In addition, USDA puts a limit on the amount of money a family can make and still use USDA to purchase a home. Below we will discuss income and property eligibility requirements for USDA loans in North Carolina.
Income Eligibility
USDA has a limit on the amount of money a household can make in a single year. The USDA income limit is determined by the average income earned in a specific county. You can review the North Carolina Income limit chart below or have a USDA loan specialist contact you .
Income Limit For 1-4 Family Household
- Asheville - $91,900
- Haywood County - $91,900
- Burlington - $91,900
- Charlotte - Concord - Gastonia - $91,900
- Iredell County - $91,900
- Lincoln County - $91,900
- Rowan County - $91,900
- Durham - Chapel Hill - $104,500
- Parson County - $91,900
- Fayetteville - $91,900
- Hoke County - $91,900
- Goldsboro - $91,900
- Greensboro - $91,900
- Rockingham County - $91,900
- Greenville - $91,900
- Hickory - Lenoir - Morganton - $91,900
- Jacksonville - $91,900
- Myrtle Beach - COnway - North Myrtle Beach - $91,900
- New Bern - $91,900
- Jones County - $91,900
- Pamlico County - $91,900
- Pender County - $91,900
- Raleigh - $110,050
- Rocky Mount - $91,900
- Wilmington - $91,900
- Alleghany County - $91,900
- Anson County - $91,900
- Ashe County - $91,900
- Avery County - $91,900
- Winston - Salem - $91,900
- Beaufort County - $91,900
- Bertie County - $91,900
- Bladen County - $91,900
- Camden County - $91,900
- Carteret County - $91,900
- Caswell County - $91,900
- Cherokee County - $91,900
- Chowan County - $91,900
- Clay County - $91,900
- Cleveland COunty - $91,900
- Columbus County - $91,900
- Dare County - $91,900
- Duplin County - $91,900
- Graham County - $91,900
- Granville County - $91,900
- Greene County - $91,900
- Halifax County - $91,900
- Harnett County - $91,900
- Hartford County - $91,900
- Hyde County - $91,900
- Jackson County - $91,900
- Lee County - $91,900
- Lenoir County - $91,900
- Macon County - $91,900
- Martin County - $91,900
- McDowell County - $91,900
- Mitchell COunty - $91,900
- Montgomery County - $91,900
- Moore County - $91,900
- Northhampton County - $91,900
- Pasquotank County - $91,900
- Perquimans County - $91,900
- Polk County - $91,900
- Richmond County - $91,900
- Robeson County - $91,900
- Rutherford County - $91,900
- Sampson County - $91,900
- Scotland County - $91,900
- Stanly County - $91,900
- Surry County - $91,900
- Swain County - $91,900
- Transylvania County - $91,900
- Tyrrell County - $91,900
- Vance County - $91,900
- Warren County - $91,900
- Washington County - $91,900
- Watauga County - $91,900
- Wilkes County - $91,900
- Wilson County - $91,900
- Yancey County - $91,900
The household income limit in North Carolina is $91,900 for a household of up to 4 people. If the household has 5 or more people, the North Carolina USDA income limit is $121,300. There are exceptions to these limits in areas like Durham.
Unlike other states, North Carolina has the same income limit for every county.
You can fill out the USDA Eligibility form to see if you qualify for a North Carolina USDA loan.
Here is the direct link to USDA’s website to verify the USDA income limits in North Carolina.
Property Eligibility
USDA property eligibility is determined by the area population. The property must be located in a rural area. Generally, a rural area is defined as a population of less than 20,000 people. Another factor is credit availability in the area. USDA is trying to target underserved areas in North Carolina for USDA rural Development Home Loans.
Most of North Carolina offers USDA loans. In most cases, all you need to do is move outside the city limits to qualify for USDA.
What Areas in North Carolina are USDA Eligible?
North Carolina USDA Property Eligibility Map
The shaded areas are NOT eligible for USDA financing. USDA has determined the population density to be too high for USDA financing.
What Banks Offer USDA Financing?
Most reputable mortgage lenders or banks will offer USDA Home loans for first time homebuyers. The majority of the product guidelines are very similar to FHA. So.. If you find a bank that offers FHA loans it is likely they will also offer USDA loans.
What Are USDA Loans and How Do They Work?
USDA loan is a rural housing loan backed by the department of agriculture. The loan provides no money down financing for first time homebuyers with low interest rates and minimal fees.
Is it Hard to Get Approved for a USDA Loan?
Its not hard at all. If the property is located in an eligible area and your income falls below theUSDA Median income limits, chances are you qualify !
Are USDA Loans Any Good?
I consider USDA loans to be the best available loan product for first time homebuyers. Granted VA Loans have some advantages that USDA does not but you also have to be a veteran. For the general public, USDA is still the best loan program available.
Property Eligibility
USDA property eligibility is determined by the area population. The property must be located in a rural area. Generally, a rural area is defined as a population of less than 20,000 people. Another factor is credit availability in the area. USDA is trying to target underserved areas in North Carolina for USDA rural Development Home Loans.
Most of North Carolina offers USDA loans. In most cases, all you need to do is move outside the city limits to qualify for USDA.
North Carolina USDA Loan Benefits
- No down payment required! Finance 100% of the purchase price
- Close With No Money Out of Pocket
- Challenged Credit Exceptions Available
- Fixed Interest Rates - Your Payment Will Not Increase
- Available for Construction or Existing Properties
Do you have a specific question? To speak to a USDA loan specialist fill out the USDA Eligibility Tool.
Get Started With a USDA Home Loan Now!
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TO SEE IF YOU QUALIFY
Scroll Down to Review the USDA Property Eligibility Map