Buying your first house in North Carolina can feel like a maze, but you don’t have to wander alone. Below you’ll find the basics you need to move from renting to owning without losing sleep over paperwork or surprise costs.
The biggest hurdle for most newbies is the down payment. Luckily, North Carolina offers several programs that can cover a chunk of that number. The NC Down Payment Grant, for example, gives eligible buyers up to $10,000 that never has to be repaid. To qualify, you’ll need a steady job, a credit score above 620, and a home priced within the program’s limits.
If you don’t meet the grant’s exact criteria, look into the NC Home Advantage Mortgage. It pairs a low‑interest loan with a smaller down‑payment requirement—sometimes as low as 3 % of the purchase price. Pairing this with a solid savings plan (automate a $200‑$300 monthly transfer to a high‑yield account) can get you to the goal faster.
Closing costs often surprise first‑timers because they’re not part of the mortgage payment. In 2025 the average buyer in NC pays roughly $4,500 in fees, while sellers typically cover about $2,800. Expect items like title insurance, appraisal fees, and the state transfer tax (0.015 % of the purchase price).
There are ways to shave a few hundred dollars off the bill. Ask the seller to cover part of the title insurance, negotiate a lower appraisal fee, or ask your lender if they offer a “no‑cost” loan option where they absorb the fees in exchange for a slightly higher interest rate. These trade‑offs can be worth it if you’re tight on cash at closing.
Another hidden cost is the realtor commission. While the standard split is 5‑6 % of the sale price, the 2025 NAR settlement means buyers can now receive rebates from agents. Talk to your agent about a buyer rebate—some offer up to 2 % back, which you can apply toward closing costs or your down payment.
Don’t forget ongoing expenses. Property taxes in NC average 0.8 % of a home’s value each year, and homeowner’s insurance can range from $600 to $1,200 annually depending on location and coverage. Budget for these in your monthly housing cost calculator.
Ready to start hunting? Focus on neighborhoods where you can get the most bang for your buck—places like Raleigh’s suburbs, Charlotte’s Eastland, and the Triangle area still have homes under $300,000 that qualify for grant programs. Use our site’s filter to sort listings by price, grant eligibility, and buyer-friendly terms.
Finally, keep your paperwork tidy. Lenders love a clean credit report, so pay down credit card balances, avoid new debt, and double‑check that you’ve got pay stubs, tax returns, and bank statements ready. A well‑organized file speeds up approval and reduces the chance of a last‑minute hitch.
First‑time home buying in North Carolina doesn’t have to be a nightmare. With the right grant, a clear view of closing costs, and a few negotiation tricks, you can turn the keys on your new home sooner than you think.
Curious about North Carolina's first time home buyer programs? Discover grants, loans, requirements, and tips for easier home buying in 2025.