In the state of Virginia, FHA (Federal Housing Administration) home loan limits will dictate how much a potential homebuyer can purchase using the program. These loan limits define the maximum loan amount that borrowers can obtain through an FHA-insured mortgage, which allows for more flexible qualification criteria compared to conventional loans. For 2024, FHA loan limits in Virginia vary by county, reflecting differences in local housing markets.
As of the latest updates, the FHA loan limits in Virginia generally range from around $420,000 to $1,149,825 for a single-family home, depending on the specific county. These limits are determined based on the median home prices in each area and are adjusted annually to account for changes in housing market conditions.
For instance, in counties with higher costs of living and more expensive real estate markets such as Arlington County or Fairfax County, the FHA loan limits are typically higher. On the other hand, in more rural or less expensive areas, such as in some parts of western Virginia or Southside Virginia, the loan limits may be lower.
Understanding FHA Loan Limits for Virginia Homebuyers
If you’re a first-time homebuyer in Virginia considering an FHA loan, understanding the intricacies of loan limits can help you make informed decisions about where to purchase your new home. FHA loans are popular among first-time buyers due to their low down payment requirement of 3.5% of the purchase price. However, FHA loan limits vary significantly across the state, reflecting differences in home prices and cost of living. Here’s a comprehensive guide to help you navigate FHA loan limits in Virginia, highlighting key counties with higher limits and their unique features.
FHA loans are popular among first-time homebuyers and those with less than perfect credit due to their lower down payment requirements and more lenient credit score guidelines compared to conventional mortgages. The FHA program allows borrowers to finance up to 96.5% of the home's value, making homeownership more accessible to a broader range of buyers.
It's important for potential buyers to check the specific FHA loan limits for the county where they are considering purchasing a home, as these limits can impact the affordability and feasibility of their home purchase. Borrowers should also keep in mind that these limits apply to the size of the loan, not the purchase price of the home itself. Therefore, in areas where home prices are significantly higher than the FHA loan limits, buyers may need to make a larger down payment or consider other financing options.
Overall, understanding FHA loan limits in Virginia is essential for anyone exploring their options for financing a home purchase within the state, as it helps in determining the maximum loan amount available under FHA guidelines for different areas across Virginia's diverse housing markets.
| County | FHA Limit Single | Conventional Limit |
|---|---|---|
| Accomack | $498,257 | $766,550 |
| Albemarle | $545,100 | $766,550 |
| Alexandria City | $1,149,825 | $1,149,825 |
| Alleghany | $498,257 | $766,550 |
| Amelia | $631,350 | $766,550 |
| Amherst | $498,257 | $766,550 |
| Appomattox | $498,257 | $766,550 |
| Arlington | $1,149,825 | $1,149,825 |
| Augusta | $498,257 | $766,550 |
| Bath | $498,257 | $766,550 |
| Bedford | $498,257 | $766,550 |
| Bland | $498,257 | $766,550 |
| Botetourt | $498,257 | $766,550 |
| Bristol City | $498,257 | $766,550 |
| Brunswick | $498,257 | $766,550 |
| Buchanan | $498,257 | $766,550 |
| Buckingham | $498,257 | $766,550 |
| Buena Vista City | $498,257 | $766,550 |
| Campbell | $498,257 | $766,550 |
| Caroline | $498,257 | $766,550 |
| Carroll | $498,257 | $766,550 |
| Charles City | $631,350 | $766,550 |
| Charlotte | $498,257 | $766,550 |
| Charlottesville City | $545,100 | $766,550 |
| Chesapeake City | $690,000 | $766,550 |
| Chesterfield | $631,350 | $766,550 |
| Clarke | $1,149,825 | $1,149,825 |
| Colonial Heights City | $631,350 | $766,550 |
| Covington City | $498,257 | $766,550 |
| Craig | $498,257 | $766,550 |
| Culpeper | $1,149,825 | $1,149,825 |
| Cumberland | $498,257 | $766,550 |
| Danville City | $498,257 | $766,550 |
| Dickenson | $498,257 | $766,550 |
| Dinwiddie | $498,257 | $766,550 |
| Emporia City | $498,257 | $766,550 |
| Essex | $498,257 | $766,550 |
| Fairfax | $1,149,825 | $1,149,825 |
| Fairfax City | $1,149,825 | $1,149,825 |
| Falls Church City | $1,149,825 | $1,149,825 |
| Fauquier | $1,149,825 | $1,149,825 |
| Floyd | $498,257 | $766,550 |
| Fluvanna | $545,100 | $766,550 |
| Franklin | $498,257 | $766,550 |
| Franklin City | $690,000 | $766,550 |
| Frederick | $498,257 | $766,550 |
| Fredericksburg City | $1,149,825 | $1,149,825 |
| Galax City | $498,257 | $766,550 |
| Giles | $498,257 | $766,550 |
| Gloucester | $690,000 | $766,550 |
| Goochland | $631,350 | $766,550 |
| Grayson | $498,257 | $766,550 |
| Greene | $545,100 | $766,550 |
| Greensville | $498,257 | $766,550 |
| Halifax | $498,257 | $766,550 |
| Hampton City | $690,000 | $766,550 |
| Hanover | $631,350 | $766,550 |
| Harrisonburg City | $498,257 | $766,550 |
| Henrico | $631,350 | $766,550 |
| Henry | $498,257 | $766,550 |
| Highland | $498,257 | $766,550 |
| Hopewell City | $631,350 | $766,550 |
| Isle Of Wight | $690,000 | $766,550 |
| James City | $690,000 | $766,550 |
| King And Queen | $631,350 | $766,550 |
| King George | $498,257 | $766,550 |
| King William | $631,350 | $766,550 |
| Lancaster | $498,257 | $766,550 |
| Lee | $498,257 | $766,550 |
| Lexington City | $498,257 | $766,550 |
| Loudoun | $1,149,825 | $1,149,825 |
| Louisa | $498,257 | $766,550 |
| Lunenburg | $498,257 | $766,550 |
| Lynchburg City | $498,257 | $766,550 |
| Madison | $1,149,825 | $1,149,825 |
| Manassas City | $1,149,825 | $1,149,825 |
| Manassas Park City | $1,149,825 | $1,149,825 |
| Martinsville City | $498,257 | $766,550 |
| Mathews | $690,000 | $766,550 |
| Mecklenburg | $498,257 | $766,550 |
| Middlesex | $498,257 | $766,550 |
| Montgomery | $498,257 | $766,550 |
| Nelson | $545,100 | $766,550 |
| New Kent | $631,350 | $766,550 |
| Newport News City | $690,000 | $766,550 |
| Norfolk City | $690,000 | $766,550 |
| Northampton | $498,257 | $766,550 |
| Northumberland | $498,257 | $766,550 |
| Norton City | $498,257 | $766,550 |
| Nottoway | $498,257 | $766,550 |
| Orange | $498,257 | $766,550 |
| Page | $498,257 | $766,550 |
| Patrick | $498,257 | $766,550 |
| Petersburg City | $631,350 | $766,550 |
| Pittsylvania | $498,257 | $766,550 |
| Poquoson City | $690,000 | $766,550 |
| Portsmouth City | $690,000 | $766,550 |
| Powhatan | $631,350 | $766,550 |
| Prince Edward | $498,257 | $766,550 |
| Prince George | $631,350 | $766,550 |
| Prince William | $1,149,825 | $1,149,825 |
| Pulaski | $498,257 | $766,550 |
| Radford City | $498,257 | $766,550 |
| Rappahannock | $1,149,825 | $1,149,825 |
| Richmond | $498,257 | $766,550 |
| Richmond City | $631,350 | $766,550 |
| Roanoke | $498,257 | $766,550 |
| Roanoke City | $498,257 | $766,550 |
| Rockbridge | $498,257 | $766,550 |
| Rockingham | $498,257 | $766,550 |
| Russell | $498,257 | $766,550 |
| Salem City | $498,257 | $766,550 |
| Scott | $498,257 | $766,550 |
| Shenandoah | $498,257 | $766,550 |
| Smyth | $498,257 | $766,550 |
| Southampton | $690,000 | $766,550 |
| Spotsylvania | $1,149,825 | $1,149,825 |
| Stafford | $1,149,825 | $1,149,825 |
| Staunton City | $498,257 | $766,550 |
| Suffolk City | $690,000 | $766,550 |
| Surry | $498,257 | $766,550 |
| Sussex | $631,350 | $766,550 |
| Tazewell | $498,257 | $766,550 |
| Virginia Beach City | $690,000 | $766,550 |
| Warren | $1,149,825 | $1,149,825 |
| Washington | $498,257 | $766,550 |
| Waynesboro City | $498,257 | $766,550 |
| Westmoreland | $498,257 | $766,550 |
| Williamsburg City | $690,000 | $766,550 |
| Winchester City | $498,257 | $766,550 |
| Wise | $498,257 | $766,550 |
| Wythe | $498,257 | $766,550 |
| York | $690,000 | $766,550 |
Virginia Counties with Higher FHA Loan Limits
Certain counties and cities in Virginia have higher FHA loan limits, largely due to their elevated home prices and cost of living. These areas offer a variety of amenities, including excellent schools, job opportunities, and historic landmarks. Here’s a detailed look at some notable counties and cities where FHA loan limits are higher:
Fairfax County: As one of the most populous and affluent counties in Virginia, Fairfax County has high FHA loan limits to match its higher home prices. Located just outside of Washington, D.C., Fairfax offers a blend of suburban tranquility and urban convenience. The county is renowned for its excellent schools, such as Thomas Jefferson High School for Science and Technology, and its strong job market with opportunities in technology, government, and business. The county also features historic sites like George Mason’s Gunston Hall and a vibrant cultural scene.
Arlington County: Known for its proximity to the nation’s capital, Arlington County has elevated FHA loan limits. Arlington is celebrated for its modern urban environment, excellent public transportation, and highly rated schools. The county includes neighborhoods like Clarendon and Ballston, which offer a range of dining, shopping, and entertainment options. Key landmarks include Arlington National Cemetery and the Pentagon, reflecting the county’s historical and political significance.
Alexandria City: Situated along the Potomac River, Alexandria City is another area with higher FHA loan limits. The city is known for its charming Old Town district, with cobblestone streets and historic 18th-century architecture. Alexandria offers a vibrant cultural scene, with museums, galleries, and historic sites such as Gadsby’s Tavern Museum. The city’s proximity to Washington, D.C., provides residents with a strong job market and excellent schools.
Fairfax City: A separate jurisdiction from Fairfax County, Fairfax City has higher FHA loan limits reflecting its attractive housing market. The city offers a mix of suburban and urban living with access to historical sites like the Fairfax Courthouse and George Mason University. Fairfax City is known for its well-regarded schools and community events, making it a desirable location for families.
Falls Church City: Known for its small-town charm, Falls Church City has elevated FHA loan limits due to its desirable location and home prices. The city offers a high quality of life with excellent schools, such as George Mason High School, and a range of community amenities. Falls Church City is also known for its historic landmarks, including the Falls Church Episcopal, which dates back to the 18th century.
Loudoun County: Located in Northern Virginia, Loudoun County features higher FHA loan limits due to its growing housing market. The county is renowned for its top-notch schools, including Loudoun County High School and Stone Bridge High School, as well as its thriving job market in technology and business. Loudoun is also known for its picturesque countryside, with attractions like the historic village of Leesburg and numerous wineries.
Prince William County: This county, also in Northern Virginia, has higher FHA loan limits reflecting its increasing home prices. Prince William offers a diverse range of housing options and a strong job market, particularly in fields such as defense and technology. The county is known for its good schools and historical sites, including the Manassas National Battlefield Park and the Prince William Forest Park.
Chesterfield County: Located in the Richmond metropolitan area, Chesterfield County features higher FHA loan limits due to its attractive housing market and cost of living. The county is known for its excellent schools, such as James River High School and Clover Hill High School, and its family-friendly environment. Chesterfield offers a mix of suburban and rural living with access to amenities in nearby Richmond.
Henrico County: Just north of Richmond, Henrico County has elevated FHA loan limits reflecting its higher property values. The county boasts a variety of housing options and is known for its good schools, including Freeman High School and Glen Allen High School. Henrico also features several historic sites, such as the Henrico County Courthouse and the Virginia Historical Society.
James City County: Located near Williamsburg, James City County has higher FHA loan limits due to its attractive housing market and proximity to historical attractions. The county offers excellent schools and a range of recreational opportunities, including outdoor activities at the Jamestown Settlement and the Colonial Williamsburg Historic Area. James City is known for its picturesque landscapes and family-friendly atmosphere.
City of Virginia Beach: As one of the largest cities in the state, Virginia Beach features higher FHA loan limits to reflect its higher home prices. The city is renowned for its beautiful beaches, vibrant boardwalk, and strong job market in tourism and hospitality. Virginia Beach offers excellent schools, including the Virginia Beach City Public Schools system, and a variety of recreational activities, from surfing to fishing.
City of Richmond: The capital of Virginia, Richmond has elevated FHA loan limits due to its growing housing market and cost of living. The city offers a rich historical and cultural scene, with landmarks like the Virginia State Capitol and the Museum of the Confederacy. Richmond is also known for its vibrant arts scene, diverse neighborhoods, and strong educational institutions, including Virginia Commonwealth University.
City of Norfolk: Located along the coast, Norfolk features higher FHA loan limits reflecting its higher home prices. The city is home to a major naval base and offers a range of job opportunities in defense, shipping, and maritime industries. Norfolk is known for its historic downtown, the Norfolk Botanical Garden, and its vibrant arts scene, including the Virginia Opera and the Chrysler Museum of Art.
City of Newport News: Newport News has higher FHA loan limits due to its growing housing market and proximity to the Hampton Roads area. The city is known for its historical significance, with attractions such as the Mariners’ Museum and the Newport News Park. Newport News offers good schools and a range of job opportunities in shipbuilding, defense, and healthcare.
City of Portsmouth: Located near Norfolk, Portsmouth features elevated FHA loan limits reflecting its higher property values. The city offers a mix of historic charm and modern amenities, with attractions like the Portsmouth Naval Shipyard Museum and the historic Olde Towne district. Portsmouth has a strong sense of community and good schools, making it a desirable location for families.
City of Hampton: Hampton has higher FHA loan limits due to its growing housing market and cost of living. The city is known for its historic sites, including the Hampton History Museum and Fort Monroe. Hampton offers a range of recreational activities, including waterfront parks and beaches, as well as good schools and job opportunities in education, healthcare, and defense.
City of Fredericksburg: Fredericksburg, located along the Rappahannock River, features elevated FHA loan limits reflecting its historic charm and rising home prices. The city is known for its well-preserved Civil War history, with sites such as the Fredericksburg and Spotsylvania National Military Park. Fredericksburg offers good schools, a vibrant downtown area, and a range of cultural and recreational activities.
City of Colonial Heights: Colonial Heights offers higher FHA loan limits due to its attractive housing market and proximity to the Richmond metropolitan area. The city is known for its community-focused atmosphere, good schools, and local events. Colonial Heights provides a mix of suburban living with easy access to amenities in nearby Richmond.
City of Manassas: Located in Northern Virginia, Manassas features elevated FHA loan limits due to its growing housing market. The city is known for its historical significance, particularly the Manassas National Battlefield Park, which commemorates the Civil War battles fought in the area. Manassas offers a range of housing options, good schools, and a strong sense of community.
City of Manassas Park: Adjacent to Manassas, Manassas Park has higher FHA loan limits reflecting its desirable location and rising home prices. The city offers a suburban environment with access to amenities in nearby Manassas and the broader Northern Virginia region. Manassas Park is known for its good schools and family-friendly atmosphere.
City of Hopewell: Located along the Appomattox River, Hopewell features higher FHA loan limits due to its growing housing market and proximity to the Richmond area. The city is known for its historical sites, including the Appomattox Plantation and the Hopewell Museum. Hopewell offers a range of housing options and a strong sense of community.
City of Poquoson: Poquoson, located near Hampton Roads, has higher FHA loan limits reflecting its desirable coastal location and home prices. The city is known for its small-town charm, good schools, and waterfront living. Poquoson offers a mix of suburban and rural environments with access to nearby cities and recreational opportunities.
City of Williamsburg: Williamsburg, part of the Historic Triangle with Jamestown and Yorktown, features higher FHA loan limits due to its historic significance and rising home prices. The city is renowned for Colonial Williamsburg, a living-history museum that brings the 18th century to life. Williamsburg offers excellent schools, a rich cultural heritage, and a vibrant community atmosphere.
County Highlights
Albemarle County: Home to the city of Charlottesville, Albemarle County has higher FHA loan limits reflecting its growing housing market. The county is known for its excellent schools, including Monticello High School, and its vibrant cultural scene, including the University of Virginia. Albemarle offers a mix of urban and rural living with attractions like Monticello, the historic home of Thomas Jefferson.
Amelia County: Amelia County features moderate FHA loan limits and offers a more rural lifestyle compared to some of the more urbanized areas. The county is known for its historical landmarks and community-oriented atmosphere. Amelia offers good schools and a range of outdoor activities, including parks and nature trails.
Clarke County: Clarke County, located in the northern part of the state, has moderate FHA loan limits reflecting its rural charm and historical significance. The county is known for its scenic landscapes, historic sites, and good schools. Clarke offers a quiet, country living experience with access to the amenities of nearby Winchester.
Culpeper County: Situated in the Piedmont region, Culpeper County features moderate FHA loan limits and offers a blend of rural and suburban living. The county is known for its historic downtown, good schools, and community events. Culpeper provides a range of recreational activities and a strong sense of local heritage.
Goochland County: Goochland County, located near Richmond, has moderate FHA loan limits reflecting its mix of rural and suburban environments. The county is known for its historic sites, including the Goochland Courthouse, and its excellent schools. Goochland offers a tranquil lifestyle with access to urban amenities in nearby Richmond.
Greene County: Greene County features moderate FHA loan limits and offers a rural lifestyle with scenic beauty. The county is known for its good schools and outdoor recreational opportunities, including hiking and nature trails. Greene provides a peaceful living environment with easy access to the amenities of Charlottesville.
Hanover County: Located near Richmond, Hanover County has moderate FHA loan limits and offers a blend of suburban and rural living. The county is known for its excellent schools, including Hanover High School, and its historical significance, with landmarks like the Hanover Courthouse. Hanover provides a family-friendly atmosphere with access to urban amenities.
Isle of Wight County: Isle of Wight County features moderate FHA loan limits and offers a mix of rural and coastal living. The county is known for its historical sites, including the Isle of Wight Courthouse, and its community events. Isle of Wight provides a tranquil lifestyle with access to the amenities of nearby Hampton Roads.
King and Queen County: King and Queen County offers moderate FHA loan limits and is known for its rural charm and historical significance. The county features scenic landscapes, historic sites, and a strong sense of community. King and Queen provides a peaceful living environment with access to outdoor activities.
King William County: King William County features moderate FHA loan limits and offers a blend of rural and suburban living. The county is known for its historic sites, including the King William Courthouse, and its good schools. King William provides a tranquil lifestyle with access to amenities in nearby Richmond.
Madison County: Madison County, located in the foothills of the Blue Ridge Mountains, has moderate FHA loan limits and offers a rural lifestyle with scenic beauty. The county is known for its good schools, including Madison County High School, and its outdoor recreational opportunities. Madison provides a peaceful living environment with access to nature trails and parks.
Mathews County: Mathews County features moderate FHA loan limits and offers a coastal lifestyle with scenic beauty. The county is known for its historic sites, including the Mathews Courthouse, and its community events. Mathews provides a tranquil living environment with access to waterfront activities.
New Kent County: Located near Richmond, New Kent County has moderate FHA loan limits and offers a mix of rural and suburban living. The county is known for its good schools, including New Kent High School, and its historical significance, with landmarks like the New Kent Courthouse. New Kent provides a family-friendly atmosphere with access to urban amenities.
Petersburg City: Petersburg City features higher FHA loan limits reflecting its growing housing market and historical significance. The city is known for its Civil War history, with sites such as the Petersburg National Battlefield. Petersburg offers a range of housing options, good schools, and a strong sense of community.
Powhatan County: Powhatan County has moderate FHA loan limits and offers a rural lifestyle with scenic beauty. The county is known for its historic sites, including the Powhatan Courthouse, and its good schools. Powhatan provides a peaceful living environment with access to outdoor activities and parks.
Prince George County: Prince George County features moderate FHA loan limits and offers a blend of rural and suburban living. The county is known for its good schools, including Prince George High School, and its historical significance. Prince George provides a family-friendly atmosphere with access to amenities in nearby Petersburg.
Prince William County: Prince William County, located in Northern Virginia, has higher FHA loan limits reflecting its growing housing market. The county offers a diverse range of housing options, good schools, and a strong job market. Prince William is known for its historical sites, including the Manassas National Battlefield Park, and its vibrant communities.
Rappahannock County: Rappahannock County features moderate FHA loan limits and offers a rural lifestyle with scenic beauty. The county is known for its good schools, including Rappahannock County High School, and its outdoor recreational opportunities. Rappahannock provides a peaceful living environment with access to nature trails and parks.
Richmond City: The capital of Virginia, Richmond City, has elevated FHA loan limits due to its growing housing market and cost of living. Richmond offers a rich historical and cultural scene, with landmarks like the Virginia State Capitol and a vibrant arts community. The city is also known for its excellent schools, diverse neighborhoods, and strong job market.
Southampton County: Southampton County features moderate FHA loan limits and offers a rural lifestyle with scenic beauty. The county is known for its historical sites and community events. Southampton provides a tranquil living environment with access to outdoor activities and a strong sense of local heritage.
Spotsylvania County: Located near Fredericksburg, Spotsylvania County has moderate FHA loan limits reflecting its growing housing market. The county is known for its historical significance, with sites such as the Spotsylvania Courthouse. Spotsylvania offers good schools, a range of recreational activities, and a family-friendly atmosphere.
Stafford County: Stafford County, located in Northern Virginia, features higher FHA loan limits due to its rising home prices. The county is known for its good schools, including Stafford High School, and its proximity to Washington, D.C. Stafford offers a mix of suburban and rural living with access to amenities in nearby Fredericksburg.
Suffolk City: Suffolk City features higher FHA loan limits reflecting its growing housing market and proximity to the Hampton Roads area. The city is known for its historic sites, including the Suffolk Seaboard Coastline Railroad Museum, and its family-friendly environment. Suffolk offers a range of housing options and a strong sense of community.
Sussex County: Sussex County offers moderate FHA loan limits and a rural lifestyle with scenic beauty. The county is known for its historical sites, including the Sussex County Courthouse, and its community events. Sussex provides a peaceful living environment with access to outdoor activities and a strong sense of local heritage.
Virginia Beach City: Virginia Beach City features higher FHA loan limits due to its attractive coastal location and rising home prices. The city is known for its beautiful beaches, vibrant boardwalk, and strong job market in tourism and hospitality. Virginia Beach offers excellent schools, a range of recreational activities, and a diverse community.
Warren County: Warren County features moderate FHA loan limits and offers a rural lifestyle with scenic beauty. The county is known for its good schools, including Warren County High School, and its outdoor recreational opportunities. Warren provides a peaceful living environment with access to nature trails and parks.
York County: Located near Williamsburg, York County has higher FHA loan limits reflecting its desirable location and rising home prices. The county offers excellent schools, including York High School, and a range of recreational opportunities, including access to the Historic Triangle. York provides a family-friendly atmosphere with access to historical and cultural attractions.
Finding the Right Home in Virginia
When exploring FHA loan limits in Virginia, it’s essential to consider how these limits align with your homebuying goals and budget. Higher loan limits provide more flexibility in choosing a home but also reflect higher property prices. Evaluate all associated costs, including property taxes, homeowners insurance, and potential HOA fees.
Additionally, think about what’s important to you in a community, such as proximity to good schools, job opportunities, or historic landmarks. Each county and city in Virginia offers unique benefits, from urban amenities to rural charm. By understanding FHA loan limits and exploring various areas, you can find a home that suits your lifestyle and budget.
Virginia presents a wide array of options for first-time homebuyers, from the historic charm of Richmond and the coastal allure of Virginia Beach to the suburban tranquility of Fairfax and Loudoun counties. Whether you’re drawn to the vibrant cultural scene of Alexandria or the scenic beauty of Albemarle, Virginia offers diverse opportunities for finding your ideal home.
If you are considering other states, besides Virginia, to purchase a home, check out loan limits by state to get a better idea of various FHA loan limits across the United States.