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North Carolina VA Loans

  • Buy a Home with 0% Down
  • Refinance to Lower Monthly Payments
  • Lower your monthly payment
  • Easy to Qualify
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Secure a VA Mortgage in North Carolina

Veterans of the US Armed Services who live or plan to live in North Carolina may qualify for a North Carolina VA loan.  These loans are highly advantageous for those who qualify and are backed by the Department of Veteran Affairs (VA).

Jump to: Eligibility | Loan Limits

What is the VA Loan?

VA loans are specialized loans provided to veterans who qualify.  The loans are provided by conventional lenders, the same lenders who work with other loan types, but are backed by the VA.  This allows these lenders to offer lower rates and more favorable terms to veterans who apply for financing.  The goal of the program is to give back to the brave men and women who have served this nation and to help them secure affordable homes for long term ownership.

VA Loan Benefits in North Carolina

VA loans come with many benefits attached.  The value of the loan will depend on your personal goals and financial situation, but the primary benefits apply to all VA borrowers and are listed below.

  • No down payment is required.  You don’t need to establish immediate equity or prove vast cash reserves.
  • No private mortgage insurance is required.  Because the VA backs all VA loans, insurance in not necessary.
  • Minimal credit score and income requirements.  Lenders are not as strict with VA loans.
  • Multiple loan types to choose from.  You can select the type that best meets your needs.
  • No early repayment penalties.  Pay off your mortgage as fast as you like to save money.
  • Reduced closing costs.  Certain closing fees may be eliminated.  Check with your lender.

VA Loan Requirements and Eligibility

You must meet the requirements for a VA loan before you qualify.  Eligibility is typically established by obtaining a certificate of eligibility from the VA office, but the basic requirements are outlined here.

  • You must be an American citizen who has served in some branch of the US Armed Services.
  • Your period of service most have occupied at least 90 consecutive days.
  • You must not have been dishonorably discharged.
  • You should have a credit score of 620 or greater. 

If you meet these basic requirements, you’re ready to contact a VA loan specialist and pursue more detailed information about the financing options available to you.  Fill out the form above to get started.

VA Refinance

You can use a VA loan to refinance your current mortgage through a North Carolina VA Streamline (IRRRL) refinance.  This refinance program essentially cuts out the unnecessary fees and excess paperwork that typically slows down the refinance process, allowing you to swiftly replace your current mortgage with a new mortgage.

Borrowers may also withdraw up to 100% of their home equity as cash for medical bills, tuition, home renovations, and more with the VA Cash-Out refinance. For current eligible homeowners who do not have a VA loan, the Cash-Out is an avenue for refinancing into a VA mortgage. 

North Carolina VA Mortgage Rates

It can be difficult to keep track of mortgage rates.  It seems they rise and fall almost at random.  Still, you should do as much research as you can to determine what rates are available to you and where current market levels rest.  The best way to keep tabs on this financial activity is to contact one or more local lenders in your area and ask them what rates they offer.  Different lenders offer different rates.  This is an essential step.  Always compare your options to find the lowest mortgage rates out there.

VA Lenders in North Carolina

The most important step in getting your VA loan funded is to contact several local lenders and see what they can offer you.  Fill out the form above to get in touch with up to four lenders in your area.  You’ll also want to ask your lender about VA loan limits for your area.  For additional information, contact the Department of Veteran Affairs.

North Carolina Military Information

North Carolina has a large number of active military bases, hosting eight altogether.  The largest and most well known of these bases include Pope Air Force Base, Fort Bragg, Simmons Army Airfield, and New River Air Station.  These military bases are home to many veterans who qualify for VA loans.  Find out if you do, too.

VA Loan Lending Limits in North Carolina

Below is the list of the maximum VA loan limits for counties in North Carolina:

County Loan Limit
ALAMANCE $417,000
ALEXANDER $417,000
ALLEGHANY $417,000
ANSON $417,000
ASHE $417,000
AVERY $417,000
BEAUFORT $417,000
BERTIE $417,000
BLADEN $417,000
BRUNSWICK $417,000
BUNCOMBE $417,000
BURKE $417,000
CABARRUS $417,000
CALDWELL $417,000
CAMDEN $625,500
CARTERET $417,000
CASWELL $417,000
CATAWBA $417,000
CHATHAM $417,000
CHEROKEE $417,000
CHOWAN $417,000
CLAY $417,000
CLEVELAND $417,000
COLUMBUS $417,000
CRAVEN $417,000
CURRITUCK $458,850
DARE $417,000
DAVIDSON $417,000
DAVIE $417,000
DUPLIN $417,000
DURHAM $417,000
EDGECOMBE $417,000
FORSYTH $417,000
FRANKLIN $417,000
GASTON $417,000
GATES $458,850
GRAHAM $417,000
GRANVILLE $417,000
GREENE $417,000
GUILFORD $417,000
HALIFAX $417,000
HARNETT $417,000
HAYWOOD $417,000
HENDERSON $417,000
HERTFORD $417,000
HOKE $417,000
HYDE $483,000
IREDELL $417,000
JACKSON $417,000
JOHNSTON $417,000
JONES $417,000
LEE $417,000
LENOIR $417,000
LINCOLN $417,000
MCDOWELL $417,000
MACON $417,000
MADISON $417,000
MARTIN $417,000
MITCHELL $417,000
MOORE $417,000
NASH $417,000
NEW HANOVER $417,000
ONSLOW $417,000
ORANGE $417,000
PAMLICO $417,000
PENDER $417,000
PERSON $417,000
PITT $417,000
POLK $417,000
RANDOLPH $417,000
RICHMOND $417,000
ROBESON $417,000
ROWAN $417,000
SAMPSON $417,000
SCOTLAND $417,000
STANLY $417,000
STOKES $417,000
SURRY $417,000
SWAIN $417,000
TYRRELL $417,000
UNION $417,000
VANCE $417,000
WAKE $417,000
WARREN $417,000
WATAUGA $417,000
WAYNE $417,000
WILKES $417,000
WILSON $417,000
YADKIN $417,000
YANCEY $417,000

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