Virginia mortgage market at a glance
| Item | Virginia |
|---|---|
| 2026 conforming loan limit | $1,249,125 in DC-metro counties; $832,750 baseline elsewhere |
| 2026 FHA loan limit | $541,287 to $1,249,125 by county |
| Foreclosure process | Non-judicial (deed of trust) |
| State housing agency | Virginia Housing |
Virginia is two markets separated by a beltway. Northern Virginia prices like coastal California and gets loan limits to match. Richmond, Hampton Roads, and points south and west behave like the affordable mid-Atlantic. Where you buy changes every number on this page.
Loan limits in Virginia
The Northern Virginia counties inside the Washington, DC metro, Arlington, Fairfax, Loudoun, Prince William, Alexandria, and their neighbors, carry the 2026 high-cost conforming ceiling of $1,249,125. Most of the rest of the state uses the $832,750 baseline. A Fairfax buyer can finance a million-dollar townhouse with a conforming loan. A Richmond buyer over the baseline needs a jumbo loan.
FHA limits span the same gap, the $541,287 floor downstate up to the $1,249,125 ceiling in the DC suburbs. That keeps the FHA loan surprisingly relevant even in NoVa.
First-time buyer programs in Virginia
Virginia Housing, the agency formerly known as VHDA, runs the state’s homebuyer programs through participating lenders. The lineup includes fixed-rate first mortgages, conventional, FHA, VA, and USDA, plus a down payment grant that does not have to be repaid, a Plus Second Mortgage that can take the down payment to zero for qualified buyers, and a mortgage credit certificate that converts part of your interest into a federal tax credit. Free homebuyer education is required for many programs and worth doing regardless. Income and price caps vary by region. Details at virginiahousing.com.
What closing on a home costs in Virginia
Virginia collects recordation taxes when your deed and deed of trust record, plus a state grantor tax customarily paid by the seller. Together they are moderate, well below the Northeast’s transfer tax pain. Closings are handled by title companies or attorneys, buyer’s choice in most of the state.
Foreclosure is non-judicial. A defaulted Virginia deed of trust can move to trustee sale quickly, on one of the faster timelines on the East Coast. None of that shows up at closing, but it is the enforcement mechanism behind every Virginia mortgage you sign.
How to get the best rate in Virginia
- Quote three or more lenders and benchmark with our best mortgage lenders guide.
- Ask each lender to price Virginia Housing programs, especially the DPA grant, against retail.
- Model the payment with your county’s property taxes in our mortgage calculator.
- Read the down payment guide. Between the grant and the Plus Second, your cash plan has real options here.
- In Northern Virginia, confirm your county’s limit before structuring the loan. Staying conforming saves real money.
For rates, loan types, and lender rankings, see our mortgages hub.