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Virginia FHA Home Loans

FHA Mortgage Loan Programs in Virginia
FHA Loan Requirements - 2023 FHA Loan Limits

Virginia FHA Loans | Requirements | 2023 FHA Loan Limits

FHA loans provide a great opportunity to buy a home in Virginia.  The FHA (Federal Housing Administration) was created to help the average American have a chance at owning their own home.  One of the reasons that FHA loans are so popular is because of the low down payment option.  FHA loans allow you to purchase a home with only a 3.5% down payment.  There are also less strict requirements to get an FHA loan (compared to conventional loans), such as being able to qualify with a credit score as low as 500.

Virginia FHA Loan Requirements

Below are some of the basic requirements to get an FHA loan in Virginia.  If you would like to find out if you are eligible for an FHA loan, we can help match you with a lender.  To have an FHA lender contact you, request a free consultation.

  • Credit Score – To qualify for the 3.5% down payment, you must have a 580 credit score or higher. If your credit score is between a 500-579, you still may qualify for an FHA loan, but will be required to put 10% down.
  • Job History – Proof of employment for 2 years is required. It is ok if you have changed jobs, but you need to show consistent employment/income.
  • Financial Statements – You should expect to be required to provide your 2 most recent bank statements, pay stubs, and tax returns.
  • Debt-to-Income – You can not have a debt-to-income ratio higher than 43%.  However, if you have “compensating factors” you might be able to get approved with higher debt levels (a compensating factor could be more money in savings, longer job history, or great credit).
  • Primary Residence – You must occupy the home that you intend to purchase and have it be your primary residence. FHA loans are not available to purchase an investment property, second home, or vacation home.
  • Mortgage Insurance – All FHA loans, regardless of the lender, require two types of mortgage insurance.  This includes the UPMIP (Upfront Mortgage Insurance Premium) and the regular MIP (Mortgage Insurance Premium).  FHA MIP acts similarly to how PMI (Private Mortgage Insurance) on a conventional loan acts.  You can use this FHA loan calculator to estimate your monthly payment and mortgage insurance costs.
  • FHA Loan Limits – FHA loans have maximum lending limits, which are set at the county level. You can view the 2023 FHA loan limits for all counties in Virginia below.

Would you like to see if you qualify for an FHA loan?  We can help match you with a mortgage lender that offers FHA loans in Virginia.  To have an FHA lender contact you, request a free consultation.

2023 Virginia FHA Loan Limits

Below are the 2023 FHA loan limits for every county in Virginia:

County Single Family 2 Family 3 Family 4 Family
ACCOMACK $420,680 $538,650 $651,050 $809,150
ALBEMARLE $460,000 $588,850 $711,800 $884,600
ALLEGHANY $420,680 $538,650 $651,050 $809,150
AMELIA $535,900 $686,050 $829,250 $1,030,600
AMHERST $420,680 $538,650 $651,050 $809,150
APPOMATTOX $420,680 $538,650 $651,050 $809,150
ARLINGTON $970,800 $1,243,050 $1,502,475 $1,867,275
AUGUSTA $420,680 $538,650 $651,050 $809,150
BATH $420,680 $538,650 $651,050 $809,150
BEDFORD $420,680 $538,650 $651,050 $809,150
BLAND $420,680 $538,650 $651,050 $809,150
BOTETOURT $420,680 $538,650 $651,050 $809,150
BRUNSWICK $420,680 $538,650 $651,050 $809,150
BUCHANAN $420,680 $538,650 $651,050 $809,150
BUCKINGHAM $420,680 $538,650 $651,050 $809,150
CAMPBELL $420,680 $538,650 $651,050 $809,150
CAROLINE $420,680 $538,650 $651,050 $809,150
CARROLL $420,680 $538,650 $651,050 $809,150
CHARLES CITY $535,900 $686,050 $829,250 $1,030,600
CHARLOTTE $420,680 $538,650 $651,050 $809,150
CHESTERFIELD $535,900 $686,050 $829,250 $1,030,600
CLARKE $970,800 $1,243,050 $1,502,475 $1,867,275
CRAIG $420,680 $538,650 $651,050 $809,150
CULPEPER $970,800 $1,243,050 $1,502,475 $1,867,275
CUMBERLAND $420,680 $538,650 $651,050 $809,150
DICKENSON $420,680 $538,650 $651,050 $809,150
DINWIDDIE $535,900 $686,050 $829,250 $1,030,600
ESSEX $420,680 $538,650 $651,050 $809,150
FAIRFAX $970,800 $1,243,050 $1,502,475 $1,867,275
FAUQUIER $970,800 $1,243,050 $1,502,475 $1,867,275
FLOYD $420,680 $538,650 $651,050 $809,150
FLUVANNA $460,000 $588,850 $711,800 $884,600
FRANKLIN $420,680 $538,650 $651,050 $809,150
FREDERICK $420,680 $538,650 $651,050 $809,150
GILES $420,680 $538,650 $651,050 $809,150
GLOUCESTER $488,750 $625,700 $756,300 $939,900
GOOCHLAND $535,900 $686,050 $829,250 $1,030,600
GRAYSON $420,680 $538,650 $651,050 $809,150
GREENE $460,000 $588,850 $711,800 $884,600
GREENSVILLE $420,680 $538,650 $651,050 $809,150
HALIFAX $420,680 $538,650 $651,050 $809,150
HANOVER $535,900 $686,050 $829,250 $1,030,600
HENRICO $535,900 $686,050 $829,250 $1,030,600
HENRY $420,680 $538,650 $651,050 $809,150
HIGHLAND $420,680 $538,650 $651,050 $809,150
ISLE OF WIGHT $488,750 $625,700 $756,300 $939,900
JAMES CITY $488,750 $625,700 $756,300 $939,900
KING AND QUEEN $535,900 $686,050 $829,250 $1,030,600
KING GEORGE $420,680 $538,650 $651,050 $809,150
KING WILLIAM $535,900 $686,050 $829,250 $1,030,600
LANCASTER $442,750 $566,800 $685,100 $851,450
LEE $420,680 $538,650 $651,050 $809,150
LOUDOUN $970,800 $1,243,050 $1,502,475 $1,867,275
LOUISA $420,680 $538,650 $651,050 $809,150
LUNENBURG $420,680 $538,650 $651,050 $809,150
MADISON $970,800 $1,243,050 $1,502,475 $1,867,275
MATHEWS $488,750 $625,700 $756,300 $939,900
MECKLENBURG $420,680 $538,650 $651,050 $809,150
MIDDLESEX $420,680 $538,650 $651,050 $809,150
MONTGOMERY $420,680 $538,650 $651,050 $809,150
NELSON $460,000 $588,850 $711,800 $884,600
NEW KENT $535,900 $686,050 $829,250 $1,030,600
NORTHAMPTON $420,680 $538,650 $651,050 $809,150
NORTHUMBERLAND $420,680 $538,650 $651,050 $809,150
NOTTOWAY $420,680 $538,650 $651,050 $809,150
ORANGE $420,680 $538,650 $651,050 $809,150
PAGE $420,680 $538,650 $651,050 $809,150
PATRICK $420,680 $538,650 $651,050 $809,150
PITTSYLVANIA $420,680 $538,650 $651,050 $809,150
POWHATAN $535,900 $686,050 $829,250 $1,030,600
PRINCE EDWARD $420,680 $538,650 $651,050 $809,150
PRINCE GEORGE $535,900 $686,050 $829,250 $1,030,600
PRINCE WILLIAM $970,800 $1,243,050 $1,502,475 $1,867,275
PULASKI $420,680 $538,650 $651,050 $809,150
RAPPAHANNOCK $970,800 $1,243,050 $1,502,475 $1,867,275
RICHMOND $420,680 $538,650 $651,050 $809,150
ROANOKE $420,680 $538,650 $651,050 $809,150
ROCKBRIDGE $420,680 $538,650 $651,050 $809,150
ROCKINGHAM $420,680 $538,650 $651,050 $809,150
RUSSELL $420,680 $538,650 $651,050 $809,150
SCOTT $420,680 $538,650 $651,050 $809,150
SHENANDOAH $420,680 $538,650 $651,050 $809,150
SMYTH $420,680 $538,650 $651,050 $809,150
SOUTHAMPTON $488,750 $625,700 $756,300 $939,900
SPOTSYLVANIA $970,800 $1,243,050 $1,502,475 $1,867,275
STAFFORD $970,800 $1,243,050 $1,502,475 $1,867,275
SURRY $420,680 $538,650 $651,050 $809,150
SUSSEX $535,900 $686,050 $829,250 $1,030,600
TAZEWELL $420,680 $538,650 $651,050 $809,150
WARREN $970,800 $1,243,050 $1,502,475 $1,867,275
WASHINGTON $420,680 $538,650 $651,050 $809,150
WESTMORELAND $420,680 $538,650 $651,050 $809,150
WISE $420,680 $538,650 $651,050 $809,150
WYTHE $420,680 $538,650 $651,050 $809,150
YORK $488,750 $625,700 $756,300 $939,900
ALEXANDRIA CITY $970,800 $1,243,050 $1,502,475 $1,867,275
BRISTOL CITY $420,680 $538,650 $651,050 $809,150
BUENA VISTA CIT $420,680 $538,650 $651,050 $809,150
CHARLOTTESVILLE $460,000 $588,850 $711,800 $884,600
CHESAPEAKE CITY $488,750 $625,700 $756,300 $939,900
COLONIAL HEIGHT $535,900 $686,050 $829,250 $1,030,600
COVINGTON CITY $420,680 $538,650 $651,050 $809,150
DANVILLE CITY $420,680 $538,650 $651,050 $809,150
EMPORIA CITY $420,680 $538,650 $651,050 $809,150
FAIRFAX CITY $970,800 $1,243,050 $1,502,475 $1,867,275
FALLS CHURCH CI $970,800 $1,243,050 $1,502,475 $1,867,275
FRANKLIN CITY $488,750 $625,700 $756,300 $939,900
FREDERICKSBURG $970,800 $1,243,050 $1,502,475 $1,867,275
GALAX CITY $420,680 $538,650 $651,050 $809,150
HAMPTON CITY $488,750 $625,700 $756,300 $939,900
HARRISONBURG CI $420,680 $538,650 $651,050 $809,150
HOPEWELL CITY $535,900 $686,050 $829,250 $1,030,600
LEXINGTON CITY $420,680 $538,650 $651,050 $809,150
LYNCHBURG CITY $420,680 $538,650 $651,050 $809,150
MANASSAS CITY $970,800 $1,243,050 $1,502,475 $1,867,275
MANASSAS PARK C $970,800 $1,243,050 $1,502,475 $1,867,275
MARTINSVILLE CI $420,680 $538,650 $651,050 $809,150
NEWPORT NEWS CI $488,750 $625,700 $756,300 $939,900
NORFOLK CITY $488,750 $625,700 $756,300 $939,900
NORTON CITY $420,680 $538,650 $651,050 $809,150
PETERSBURG CITY $535,900 $686,050 $829,250 $1,030,600
POQUOSON CITY $488,750 $625,700 $756,300 $939,900
PORTSMOUTH CITY $488,750 $625,700 $756,300 $939,900
RADFORD CITY $420,680 $538,650 $651,050 $809,150
RICHMOND CITY $535,900 $686,050 $829,250 $1,030,600
ROANOKE CITY $420,680 $538,650 $651,050 $809,150
SALEM CITY $420,680 $538,650 $651,050 $809,150
STAUNTON CITY $420,680 $538,650 $651,050 $809,150
SUFFOLK CITY $488,750 $625,700 $756,300 $939,900
VIRGINIA BEACH $488,750 $625,700 $756,300 $939,900
WAYNESBORO CITY $420,680 $538,650 $651,050 $809,150
WILLIAMSBURG CI $488,750 $625,700 $756,300 $939,900
WINCHESTER CITY $420,680 $538,650 $651,050 $809,150

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