Virginia Mortgage Guide 2025
A comprehensive look at mortgage programs, rates, lender requirements, and home buying strategies across Virginia.
Virginia’s Housing Market Overview
Virginia presents one of the most geographically and economically diverse housing markets in the eastern United States. Northern Virginia (Fairfax, Arlington, Alexandria, Loudoun, and Prince William counties) is among the wealthiest and most expensive suburban markets in the country, driven by proximity to Washington, D.C. and a massive federal government and contractor employment base. The Richmond metro offers strong job growth in finance, technology, and government. Hampton Roads — anchored by Norfolk, Virginia Beach, Chesapeake, and the world’s largest naval station — combines a large military population with a diverse civilian economy.
Mortgage Programs in Virginia
Conventional Loans
The 2025 conforming loan limit is $1,209,750 for Fairfax, Arlington, Alexandria, Loudoun, and Prince William counties — among the highest in the country. Most other Virginia counties have the standard limit of $806,500.
| Area | Conforming Loan Limit |
|---|---|
| Fairfax, Arlington, Alexandria, Loudoun, Prince William | $1,209,750 |
| Most other Virginia counties | $806,500 |
FHA Loans
FHA loans are widely used in Hampton Roads, Richmond, and the Roanoke Valley. FHA loan limits in Northern Virginia reach $1,209,750, making FHA viable even in the DC suburbs.
VA Loans
Virginia is arguably the premier VA loan state in the nation. Naval Station Norfolk is the world’s largest naval station. Langley AFB, Fort Gregg-Adams, Marine Corps Base Quantico, and Joint Base Myer-Henderson Hall make Virginia home to one of the largest veteran and active-duty populations in the US.
USDA Loans
Virginia’s rural regions — particularly Appalachian Southwest Virginia, the Shenandoah Valley’s smaller communities, the Northern Neck, Eastern Shore, and rural Piedmont counties — have meaningful USDA eligibility.
Virginia Housing Development Authority (VHDA)
Virginia Housing offers a Down Payment Assistance Grant (2–2.5% of purchase price — a true grant, no repayment), a Plus Second Mortgage (up to 3.5% deferred), and the MCC program (up to $2,000/year federal tax credit). All programs available through VHDA-approved lenders including NEXA Lending LLC.
Property Taxes in Virginia
Property taxes in Virginia are assessed at the city or county level. Fairfax County’s effective rate is approximately 1.02%, while rural Appalachian counties may be significantly lower. Virginia cities (independent of counties) set their own rates.
