Home Loan Programs in North Carolina and South Carolina
Conventional, FHA, VA, USDA, First-Time Buyer, Jumbo, Non-QM, and Specialized Loans
There's no single mortgage program that's best for every buyer. The right loan depends on your credit, income, savings, monthly debts, the property and your long-term plans. Most buyers in North Carolina and South Carolina use a conventional, FHA, VA or USDA loan. Others need a jumbo, new construction, renovation, self-employed or investment property loan.
This page gives you a quick look at every option, helps you narrow down the ones worth exploring and links to the full guide for each.
I'm Paul Mattos, a mortgage broker with Refine Mortgage, licensed in North Carolina and South Carolina. I compare loan options from multiple wholesale lenders, so you can see the estimated payment, cash needed at closing and long-term cost of each one before you choose. I work with first-time buyers, move-up buyers, relocating families, veterans, self-employed borrowers, investors and new-construction buyers.
Home Loan Programs at a Glance
Standard home loans
Conventional loans: for primary homes, second homes and investment properties. As little as 3% down for qualified buyers, and mortgage insurance can be removed later.
FHA loans: for primary homes, with more flexibility on credit and debt-to-income. As little as 3.5% down with a 580 or higher credit score.
VA loans: for eligible veterans, service members and certain surviving spouses. No down payment and no monthly mortgage insurance.
USDA loans: no down payment for primary homes in eligible areas, with household income limits. Some eligible areas are within commuting distance of Charlotte.
First-time homebuyer programs: low down payment loans, down payment assistance, gift funds and seller credits.
Jumbo loans: for loan amounts above the 2026 conforming limit of $832,750 for a one-unit home.
Specialized and investor loans (see all)
New construction loans: buying from a builder, or building a custom home with one closing.
Renovation loans: buy or refinance a home and finance the repairs together.
HELOCs: borrow against your equity and keep your current mortgage.
Non-QM loans: alternative documentation for self-employed borrowers, business owners and others, including bank statement loans.
Investment property loans: conventional and DSCR loans for rental properties.
Already own a home? See refinancing options in Charlotte and HELOCs.
Which Home Loan Fits Your Situation?
I'm a first-time buyer. Start with first-time homebuyer programs, then compare conventional and FHA.
My credit isn't perfect, or I have a lot of monthly debt. FHA loans often allow more flexibility.
I served in the military. Check your VA loan eligibility first.
I want to buy outside the city with little or nothing down. See whether the area qualifies for a USDA loan.
I'm relocating to the Charlotte area. See moving to Charlotte.
I need to buy before I sell my current home. See can I buy a house before selling mine?
My loan amount will be over $832,750. See jumbo loans.
I'm building or buying new construction. See new construction loans.
I'm self-employed. Start with can self-employed borrowers get a mortgage?, then compare bank statement loans if your tax returns don't show your full income.
I'm buying a rental. See investment property loans.
I'm not sure. That's normal. Schedule a consultation, and I'll compare the options that fit.
Conventional Loans
The most flexible option for primary homes, second homes and investment properties. Qualified buyers can put as little as 3% down, and private mortgage insurance can be removed as you build equity.
FHA Loans
Designed for primary homes, with more flexibility on credit history and debt-to-income ratio. You don't have to be a first-time buyer. FHA loans include mortgage insurance and have property condition requirements.
VA Loans
For eligible veterans, active-duty service members and certain surviving spouses: no down payment and no monthly mortgage insurance. Zero down doesn't mean zero cash at closing, so plan for closing costs and the VA funding fee unless you're exempt.
USDA Loans
No down payment for eligible primary homes in designated areas, including some within commuting distance of Charlotte. Both the property's location and your household income have to qualify.
First-Time Homebuyer Programs
Low down payment loans, down payment assistance, gift funds and seller credits. You may count as a first-time buyer even if you've owned before, often if you haven't owned a home in the past three years. Assistance programs have their own income, price and repayment rules.
Jumbo Loans
For loan amounts above the conforming limit, which is $832,750 for a one-unit home in 2026. Credit, down payment and reserve requirements vary by lender.
Specialized Loans
New construction, renovation and HELOC options for building, fixing up or using the equity in a home.
Non-QM and Investment Loans
Bank statement, DSCR and other alternative-documentation options for self-employed borrowers and investors.
How Do I Know Which Mortgage Program Is Best?
Choosing a mortgage involves more than comparing advertised interest rates. The lowest rate does not always produce the best overall structure once mortgage insurance, lender costs, down payment and cash reserves are considered.
I compare factors such as:
Estimated monthly principal and interest
Property taxes and homeowners insurance
Mortgage insurance or program fees
Down payment and estimated cash to close
Seller credits and interest-rate buydowns
Funds remaining after closing
Fixed-rate and adjustable-rate options
Qualification requirements
How long you expect to own the home or keep the loan
Whenever possible, I prepare a property-specific Total Cost Analysis so you can compare realistic options before making an offer.
Already Have a Loan Estimate?
If you already received a Loan Estimate, fee worksheet or mortgage proposal from another lender, I can review it with you.
A mortgage offer review can help you understand:
The interest rate and discount points
Lender fees and third-party closing costs
Mortgage insurance
Estimated cash needed at closing
Seller credits and lender credits
Whether two quotes are structured the same way
Questions you should ask before choosing a lender
The goal is not simply to find a lower number. It is to make sure you understand what you are being offered and can compare the options on equal terms.
My Home Loan Process
Start With Your Goals. We discuss what you want to buy, your preferred monthly payment, available savings and expected timeline.
Complete the Application and Submit Documents. The application gives me the information needed to begin. Depending on your situation, I may also request pay stubs, tax documents, bank statements, identification and information about other properties you own.
Review Credit, Income, Assets and Debts. I review the complete financial picture and, when appropriate, run the loan through an automated underwriting system. This allows us to address potential issues before you make an offer.
Compare the Available Loan Options. We compare the estimated payment, mortgage insurance, cash to close and long-term cost of the programs for which you may qualify.
Prepare a Strong Preapproval. Once the required information has been reviewed, I can issue the appropriate preapproval and coordinate with your real estate agent as you shop for a home.
Update the Numbers for the Property. Before you submit an offer, I can prepare property-specific estimates using the actual price, taxes, insurance, HOA dues and proposed loan structure.
Frequently Asked Questions About Home Loan Programs
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Eligible VA and USDA buyers may qualify for no-down-payment financing. Some qualified conventional borrowers may be eligible for as little as 3% down, while FHA commonly offers a 3.5% minimum down-payment option.
The smallest down payment does not automatically make a program the best or least expensive choice. Eligibility, mortgage insurance, program fees, property requirements and the complete monthly payment should also be compared.
Learn how the FHA 3.5% down loan works
Learn how USDA financing works
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No. Many homebuyers purchase with considerably less than 20% down.
Some qualified conventional borrowers may be eligible for as little as 3% down, FHA commonly offers a 3.5% option, and eligible VA or USDA buyers may qualify with no down payment.
Your down payment can affect the loan amount, mortgage insurance, monthly payment, pricing and the amount of savings you have remaining after closing.
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There is no single mortgage program that is easiest for everyone.
FHA may provide additional flexibility for some buyers with credit challenges or higher debt-to-income ratios. Conventional financing may work better for buyers with stronger credit, while VA, USDA and non-QM programs serve different borrowers and situations.
Approval depends on your income, credit, debts, assets, property and complete loan structure.
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Yes. Self-employed borrowers may qualify using tax returns under conventional or government-loan guidelines.
When tax returns do not clearly reflect the borrower’s current cash flow, a bank-statement or another non-QM program may be worth exploring. These programs still require qualification, but they may use an alternative method to calculate eligible income.
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Possibly. Some move-up buyers can qualify while temporarily carrying both mortgage payments.
Other potential strategies may include using a HELOC or bridge loan, making a larger down payment, converting the current home into a rental when applicable guidelines are satisfied or selling the existing home first.
The right approach depends on your income, equity, debts, available reserves and comfort with temporarily owning two properties.
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Not always.
Down-payment assistance may be structured as a grant, forgivable second mortgage, deferred-payment loan or repayable second mortgage. Some programs have income limits, purchase-price limits, homebuyer-education requirements or restrictions when the home is sold or refinanced.
Before accepting assistance, compare its repayment requirements, interest rate, monthly payment and long-term cost with your other available options.
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Many mortgage programs permit seller credits toward eligible closing costs, prepaid expenses and interest-rate buydowns.
The maximum seller contribution and permitted uses depend on the loan program, occupancy, down payment and actual closing costs. Seller credits generally cannot replace a required down payment, and unused credit usually is not returned to the buyer as cash.
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Not without comparing the complete proposal.
Discount points, lender fees, mortgage insurance, loan type, lock period and estimated cash needed at closing can make two similar-looking interest rates very different offers.
The best comparison looks at the interest rate, upfront costs, monthly payment and estimated cost over the period you expect to keep the mortgage.
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A bank offers its own loan programs. A mortgage broker compares programs from multiple wholesale lenders, which can mean more options and pricing to compare, especially for buyers with unique situations.
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Schedule a consultation or start an application. I'll review your goals, credit, income and savings, and show you the options that fit before you start shopping.
Learn more about qualifying in my guide: How Do I Qualify for a Home Loan?
Helpful Guides Before You Choose a Loan
Ready to Compare Your Home Loan Options?
You do not need to determine the right mortgage program by yourself before reaching out.
I’ll review your goals, income, credit, debts, savings and property plans, then explain the options that may make sense for you. My goal is to help you understand the complete financing strategy before you commit to a home.
I work with first-time homebuyers, move-up buyers, relocation clients, veterans, self-employed borrowers, real estate investors and new-construction buyers throughout North Carolina and South Carolina.
Reviewed by Paul Mattos
Paul Mattos
Mortgage Broker | Refine Mortgage
Carolina Home Financing
NMLS# 2339069 | Licensed in NC and SC
Call or text: 980-221-4959
Email: paulm@refinemortgage.net
Last reviewed: October 2026
Refine Mortgage Inc. | NMLS# 2417960 | Equal Housing Lender. This page provides general educational information and is not a commitment to lend, a rate quote or an offer of specific credit terms. Mortgage programs, guidelines, loan limits, pricing and lender requirements vary by borrower and property and may change. Down payment amounts shown are program minimums for qualified borrowers. Financing is subject to credit, income verification, property valuation, title and underwriting requirements. Not all applicants will qualify.