Thinking of Putting Down Roots in Old Dominion? You are not the only one. Virginia has over 3.5 million housing units And according to the US Census Bureau, a homemade rate of 66% 2018 American Community Survey.
The median housing price for Virginia is $ 281,700, with a national average price of $ 229,700. In some counties of the state, you can expect to pay very little.
What are the mortgage rates in Virginia?
House interest rates Range from 2.25% Service 4% In Virginia.
What are today’s mortgage rates?
By locking in a low mortgage rate today, you can save thousands over the life of your loan. Compare your mortgage rate offers with national average trends.
|
Loan type |
Rate of this week |
Last week rate |
| 30-Year Fixed Rate Mortgage | 3.01% | 3.03% |
| 15-Year Fixed Rate Mortgage | 2.58% | 2.56% |
| 30-Year Fixed-Rate Jumbo Mortgage | 3.03% | 3.09% |
| 5/1 ARM | 3.04% | 3.06% |
| 5/1 Jumbo ARM | 2.86% | 2.87% |
* Rates up to October 28, 2020
US News’ Best Virginia Mortgage Lenders
US News conducted an in-depth review of major direct mortgage lenders. Research was based on program availability and customer satisfaction ratings. Because each consumer has different needs, the top finishers were chosen in several key areas.
Methodology: US News conducted an in-depth review of major direct mortgage lenders in Virginia. The research was based on program availability, customer satisfaction ratings, and qualification requirements. Because each consumer has different needs, the top finishers were chosen in several key areas.
Before you apply
- Mortgage Type: ARM, Traditional, FHA, Refinance, USDA and VA
- Minimum FICO Credit Score: 660
- Maximum loan amount: $ 1.5 million
- Better Business Bureau Rating: A +
Lender highlights
- Mortgage Type: ARM, traditional, FHA, first time homebuyer program, home equity lines of credit, refinance, VA
- Minimum FICO Credit Score: 600
- Maximum loan amount: $ 5 million
- Better Business Bureau Rating: A +
Best counter
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Different types of mortgages
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Annual percentage rate or closing cost rebate for qualifying Bank of America and Merrill Lynch clients
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No closing costs and no annual, balance transfer and cash advance fees for Halox.
Before you apply
- Mortgage Type: Traditional, FHA, Jumbo, Refinance, USDA and VA
- Minimum FICO Credit Score: 580
- Maximum loan amount: $ 3 million
- Better Business Bureau Rating: a
Best counter
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Homebuyer offers programs for the first time
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FICO accepts mortgage applicants with credit scores as low as 580
Before you apply
- Mortgage Type Offered: ARM, Traditional, FHA, Jumbo, Refinance and VA
- Minimum FICO Credit Score: 620
- Maximum loan amount: $ 3 million
- Better Business Bureau Rating: A +
Best counter
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Accepts up to 3% down payment
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Receives high marks from Better Business Bureau
main characteristics:
- Mortgage Type Offered: Traditional, FHA, VA, ARM, Home Equity Loan
- Minimum FICO Score: Not disclosed
- Maximum debt-to-value ratio: Not disclosed
- Maximum debt-to-income ratio: Not disclosed
- Loan: till $ 3 million
- Total Closing Cost: Not disclosed
- JD Power Overall Satisfaction Rating: 3 out of 5
Best counter
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Income and profession-based loan programs.
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A down payment assistance program is available.
Before you apply
- Mortgage Type: ARM, Traditional, FHA, Jumbo, Manufactured Homes, Refinance, Reverse, USDA & VA
- Minimum FICO Credit Score: 600
- Maximum loan amount: Different
- Better Business Bureau Rating: A +
Best counter
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Receives strong customer service rating from Better Business Bureau
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Offers a wide range of mortgage products
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Offers exclusive mortgage programs for first time buyers and manufactured homebuyers
main characteristics:
- Mortgage Type Offered: Traditional, FHA, VA, ARM, Refinance (Conventional), Refinance (FHA), Refinance (VA), Home Equity Loan
- Minimum FICO Credit Score: 500 with conditions
- Maximum debt-to-income ratio: 43% for FHA
- Maximum combined debt-to-value ratio: 90%
- JD Power Satisfaction Rating: Four out of five
Best counter
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The LoanDepot mortgage has a lifetime guarantee, meaning that if you ever decide to refinance an existing LoanDepot loan, the company will waive the lender fee and reimburse the appraisal fee.
main characteristics:
- Loan Type: Traditional, FHA, VA, USDA, ARM, Refinance
- Minimum FICO Score: 600
- Maximum debt-to-value ratio: Not disclosed
- Maximum debt-to-income ratio: 43%
- Total Closing Cost: 2% to 6% of the loan amount
- Equity required: Not disclosed
- JD Power Satisfaction Rating: Not rated
Best counter
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Offers various types of mortgage loans.
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Nationwide offers mortgage loans.
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Helps with closing costs.
Highlight:
- Mortgage Type Offered: ARM, FHA, VA, Refinance (FHA), USDA, Traditional, Refinance (Traditional)
- Minimum FICO Credit Score: 580 (FHA), other loans vary
- Maximum debt-to-income ratio: 60%
- JD Power Satisfaction Rating: Five out of five
Best counter
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The complete loan procedure is available online.
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Wide variety of mortgage products.
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Good customer service rating.
mortgage calculator
Is your dream home within reach? US News’ mortgage calculator will show you how much home you can buy.
What are some Virginia homebuyer programs?
The Virginia Housing Development Authority offers several programs to help Virginia homebuyers buy homes. This includes breaks on mortgage insurance, down payment assistance and tax breaks.
- available to: Worthy Virginia Homebuyers.
- Income Range: Different from county (see) VHDA Income Limit).
- First time homebuyers only? No.
- Benefit: Private mortgage insurance meets the requirement and allows payments of at least 1% with the VHDA down payment assistance grant.
- available to: Worthy Virginia Homebuyers.
- Income Range: Different from county (see) VHDA Income Limit).
- Homebuyers for the first time only? No.
- Benefit: Reduces private mortgage insurance for the least essential and allows payments of at least 1% with the VHDA Down Payment Assistance Grant.
- available to: Repeat first time homebuyers and homebuyers buying one Federally targeted area.
- Income Range: Different from county (see) VHDA Income Limit).
- First time homebuyers only? No.
- Payment and closing cost assistance: A fixed rate for homebuyers makes it possible to hold down zero money with a 30-year second mortgage. Eligible homebuyers may borrow up to 1.5% above the selling price.
- available to: Homebuyers for the first time.
- Income Range: Different from county (see) VHDA Income Limit).
- First time homebuyers only? Yes.
- Down payment assistance: Allows homebuyers for the first time to hold less than 1% of their own funds. The grant amount is not required to be repaid.
- available to: Homebuyers for the first time.
- Income Range: Different from county (see) VHDA Income Limit).
- First time homebuyers only? Yes.
- Closing Cost Assistance: Can cover the entire amount of the closing cost of the house. The grant amount is not required to be repaid.
- available to: First time homebuyers who use a VDHA first mortgage product through an approved lender.
- Income Range: Different from county (see) VHDA Income Limit).
- First time homebuyers only? Yes.
- Payment and closing cost assistance: Provides a tax credit that can be taken for the life of the loan.
Advertisement Disclosure: Some of the loan offers on this site are from companies that are advertising customers of US News. Advertising ideas can influence offers that appear on the site, but do not affect any editorial decisions, such as which loan products we write about and how to evaluate them. This site does not include all loan companies or all loan offers available in the market.