Virginia FHA Loans | Requirements | 2023 FHA Loan Limits
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 |