Find Your Best Mortgage Rate in Virginia
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Skip the hassle of calling multiple lenders. We connect you with local licensed professionals who provide competing quotes.
1. Answer Quick Questions
Tell us about your home purchase or refinance. Credit score, down payment, location—the basics. Completely secure and takes 2 minutes.
2. Review Estimated Rates
Based on your profile, see what rates and programs you may qualify for. Get a clear picture before talking to anyone.
3. Get Personalized Quotes
1-3 licensed Virginia mortgage lenders reach out with exact quotes tailored to your situation. Compare them and choose your best option.
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Serving homebuyers in 20+ cities across Virginia
Lynchburg
Harrisonburg
Winchester
Bristol
Blacksburg
Staunton
Danville
Salem
Waynesboro
Radford
Colonial Heights
Hopewell
Petersburg
Culpeper
Christiansburg
Martinsville
Pulaski
Wytheville
Front Royal
Buena Vista
Understanding Virginia Mortgages in 2025
Virginia's housing market offers diverse opportunities for homebuyers, from affordable starter homes in Martinsville to growing markets in Winchester near the DC metro area.
Whether you're a first-time buyer, veteran, or looking to refinance, understanding your mortgage options helps you make informed decisions.
Local Market Insight
Local lenders understand Virginia's property taxes (averaging 0.74% statewide), insurance requirements, and regional market conditions. This local expertise helps ensure your mortgage fits your specific situation.
Get Matched with Virginia LendersWhat Affects Your Virginia Mortgage Rate?
Credit Score
Higher scores (740+) typically qualify for the best rates. Scores as low as 580 may still qualify for FHA loans with competitive terms.
Down Payment
Larger down payments (20%+) often secure lower rates and eliminate PMI. However, many Virginia buyers successfully purchase with 3-5% down through FHA, conventional, or state programs.
Loan Type
VA loans offer some of the lowest rates for qualified veterans. FHA loans provide competitive rates for buyers with lower credit scores. Conventional loans work well for strong-credit borrowers.
Property Location
Rates can vary slightly by Virginia county and property type. Urban areas like Lynchburg and Harrisonburg may have different loan products available compared to rural areas eligible for USDA loans.
Virginia-Specific Programs
Virginia Housing offers down payment assistance programs and competitive rates for first-time buyers and repeat buyers meeting income requirements. These programs can reduce your out-of-pocket costs significantly.
Explore Your Virginia Loan Options
Choosing the right mortgage type impacts your monthly payment, down payment requirements, and overall costs. Virginia homebuyers have access to various loan programs, each designed for different financial situations.
VA loans serve veterans and active military with zero down payment. FHA loans help buyers with lower credit scores or limited savings. First-time buyers can access special state programs with down payment assistance. USDA loans provide zero down financing for eligible rural and suburban areas across Virginia.
Understanding each option helps you choose the best fit for your homeownership goals. Below are the most popular mortgage types available to Virginia buyers:
VA Loans
- $0 down payment
- No PMI required
- Competitive rates
- For veterans & active military
FHA Loans
- 3.5% down payment
- 580 minimum credit score
- Flexible qualification terms
- Government insured
First-Time Buyer
- Special state programs
- Down payment assistance
- Education & guidance
- Lower barrier to entry
Refinance
- Lower your interest rate
- Cash-out options available
- Shorten loan term
- Consolidate high-interest debt
USDA Loans
- $0 down payment
- For eligible rural areas
- No PMI required
- 100% financing available
Jumbo Loans
- Loans over $766,550
- Luxury home financing
- Competitive interest rates
- Exclusive portfolio options
Current Virginia Mortgage Rates (November 2025)
Based on $250,000 loan amount with 20% down
| Loan Type | Rate | APR | Monthly Payment* |
|---|---|---|---|
| 30-Year Fixed | 6.125% | 6.263% | $1,216 |
| 15-Year Fixed | 5.375% | 5.682% | $1,625 |
| FHA 30-Year | 5.875% | 6.546% | $1,183 |
| VA 30-Year | 6% | 6.299% | $1,199 |
| 5/1 ARM | 5.75% | 6.125% | $1,167 |
| USDA 30-Year | 5.875% | 6.125% | $1,183 |
| Jumbo 30-Year | 6.375% | 6.5% | $1,248 |
Understanding These Rates
The rates shown above represent current averages for well-qualified Virginia borrowers with credit scores of 740+, 20% down payment, and owner-occupied primary residences. Your actual rate will depend on your specific situation.
Factors that influence your rate include credit score, down payment amount, loan-to-value ratio, property type, and debt-to-income ratio. Points paid at closing can lower your rate further.
Virginia rates typically align closely with national averages, though local market conditions and property values can cause slight variations. Urban areas like Lynchburg and Winchester may have slightly different rate availability compared to rural areas.
Note: Rates change daily based on market conditions. Lock in your rate once you're under contract to protect against increases during your closing period.
How Much House Can You Afford in Virginia?
Virginia's diverse housing market means affordability varies significantly by location. Understanding what you can afford helps you shop confidently and make realistic offers.
General Rule of Thumb
Most lenders follow the 28/36 rule: Your monthly housing payment (including principal, interest, taxes, and insurance) should not exceed 28% of your gross monthly income. Your total debt payments should stay under 36% of gross income.
Example Scenario
Annual Income
$75,000 ($6,250/mo)
Max Housing
$1,750/mo
Max Total Debt
$2,250/mo
Virginia Market Context
With median home prices ranging from $293,000 in Roanoke to $420,000 in Winchester, Virginia offers options for various budgets.
Current interest rates around 6.5-7% mean a $300,000 home with 20% down results in approximately $1,550/month in principal and interest.
Don't forget property taxes (avg 0.74% in VA) and homeowners insurance ($800-1,500/yr).
Pre-Approval Matters
Getting pre-approved shows sellers you're serious and helps you understand your exact buying power. Virginia's competitive markets—especially in growing areas like Harrisonburg and Blacksburg—often require pre-approval letters with offers.
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"Virginia Lending Hub made refinancing painless. The process was smooth, and the loan officer closed my deal in 14 days."
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Harrisonburg, VA
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Lynchburg, VA
"As first-time homebuyers, we were terrified. The educational tools here helped us understand everything before we even spoke to a human."
David & Maria Rodriguez
Winchester, VA
Frequently Asked Questions
Common questions about getting a mortgage in Virginia
What credit score do I need for a mortgage in Virginia?
Minimum credit scores vary by loan type. FHA loans accept scores as low as 580 with 3.5% down (500-579 with 10% down). Conventional loans typically require 620+. VA loans have no official minimum, though most lenders prefer 620+. The higher your score, the better your rate—scores above 740 usually get the best terms.
How much down payment do I need?
It depends on your loan type. VA and USDA loans offer 0% down for qualified buyers. FHA loans require 3.5% down. Conventional loans start at 3% down for first-time buyers or 5% for repeat buyers. Putting down 20% eliminates PMI on conventional loans. Many Virginia buyers successfully purchase with 3-5% down.
What are closing costs in Virginia?
Closing costs typically range from 2-5% of the loan amount in Virginia. On a $250,000 home, expect $5,000-$12,500 in closing costs. This includes loan origination fees, appraisal ($400-600), title insurance, recording fees, and prepaid items like property taxes and insurance. Some loan types allow seller-paid closing costs.
How long does it take to close on a house in Virginia?
From application to closing typically takes 30-45 days in Virginia. Cash buyers can close faster (2-3 weeks). Factors affecting timeline include loan type, appraisal scheduling, and underwriting complexity. Getting pre-approved before house hunting speeds up the process once you find a home.
Does checking rates hurt my credit?
No. Our rate check tool does not impact your credit score. Only when you formally apply for a mortgage with a lender will they perform a hard credit pull. Multiple mortgage inquiries within a 45-day window typically count as a single inquiry for credit scoring purposes.
Is Virginia Lending Hub a lender?
No, we're a free lead generation service connecting Virginia homebuyers with licensed mortgage professionals. We don't make loans or credit decisions. Lenders pay us when you connect—you pay nothing. You'll work directly with your chosen lender through closing.
What's the difference between pre-qualified and pre-approved?
Pre-qualification is an estimate based on self-reported information. Pre-approval involves a credit check and income verification, resulting in a conditional commitment from a lender. Pre-approval letters carry more weight with Virginia sellers, especially in competitive markets. We connect you with lenders who can provide full pre-approval.