Virginia Mortgage Loans
VA, FHA, DSCR & More

Virginia is one of the most strategically complex mortgage markets in the country. Northern Virginia commands some of the highest home prices east of California — Fairfax and Arlington routinely see homes clear the $1,000,000 mark — while Hampton Roads, Richmond, and Charlottesville offer more accessible entry points with strong employment fundamentals.

Virginia is home to over 700,000 veterans and some of the most active military installations in the nation — Naval Station Norfolk (the world’s largest naval base), Quantico, Fort Belvoir, Joint Base Langley-Eustis, and the Pentagon. VA loans are not just available here; they’re heavily used. As a veteran-owned broker, we structure VA loans for Virginia’s wide range of price points, from affordable Hampton Roads entries to Northern Virginia homes well above conforming limits.

Virginia’s housing market grew roughly 3.2% year-over-year in 2025, with Northern Virginia outperforming the national average due to sustained federal employment and defense contractor demand. Richmond emerged as one of the state’s hottest markets, while Hampton Roads remains steady on strong military and port employment.

VA Home Loans

$0 down, no PMI, no county loan limits for full entitlement veterans. Serving Naval Station Norfolk, Quantico, Fort Belvoir, JB Langley-Eustis, and all Virginia military communities. VA Cash-Out Refinances fully available in Virginia.

FHA Loans

3.5% down with a 580+ credit score. Virginia FHA limits range from $524,225 (most counties) to $1,209,750 in Northern Virginia. Pairs seamlessly with the VHDA Down Payment Assistance Grant for first-time buyers.

Conventional Loans

As low as 3% down. Baseline limit of $806,500 statewide; Northern Virginia high-cost counties reach $1,209,750. The VHDA No-MI Conventional program eliminates private mortgage insurance — requiring only a 660 credit score.

First-Time Homebuyer

VHDA DPA Grant (2–2.5%, non-repayable), DHCD HOMEownership DPA (up to 10–15%), and local city programs in Arlington and Alexandria offering up to $75,000. We stack programs to minimize what you bring to closing.

Construction Loans

One-time close construction-to-permanent loans lock your rate from day one. Northern Virginia’s high land and construction costs make rate-lock loans especially critical — protecting against rate movement over a 6–12 month build. VA construction available for eligible veterans.

Cash-Out Refinance

Access your Virginia equity with no state-level LTV restrictions. VA Cash-Out Refinances are fully available in Virginia (unlike Texas). Conventional cash-out up to 80% LTV on primary residences, 75% on investment properties. DSCR cash-out for investors.

DSCR Investor Loans

Qualify on rental income — no tax returns or W-2s. Northern Virginia’s federal job market drives consistent demand. Hampton Roads benefits from military tenant stability. Richmond’s growing tech sector supports solid yields. Available for LLCs on purchase, refinance, and cash-out.

For Virginia Veterans

The Full Story on Virginia VA Loans

Virginia is among the most VA-active states in the nation — and for good reason. The state is home to the world’s largest naval base, the Pentagon, Marine Corps Base Quantico, and multiple Army and Air Force installations. As a retired Army Captain, I’ve navigated military PCS moves and understand what your entitlement means in markets ranging from affordable Norfolk to $1.5M Northern Virginia homes.

• ✓ Zero down payment anywhere in Virginia — including Northern Virginia’s $1M+ homes — with full entitlement
• ✓ No private mortgage insurance — saving Virginia veterans hundreds per month vs. conventional loans
• ✓ VA Cash-Out Refinance fully available in Virginia — unlike Texas, there are no state restrictions
• ✓ VA Streamline Refinance (IRRRL) available to lower your rate if you already hold a Virginia VA loan
• ✓ Major VA installations served: Naval Station Norfolk, NAS Oceana, Quantico, Fort Belvoir, JB Langley-Eustis, Pentagon

Virginia Housing (formerly VHDA) is the state’s primary first-time homebuyer resource, offering a standout benefit that other state programs rarely match: a true non-repayable grant of 2–2.5% of the purchase price. Unlike deferred loans that come due when you sell, this money is yours to keep — period. It pairs with Virginia Housing’s FHA, conventional, and No-MI conventional loans.

For buyers with lower incomes, Virginia DHCD’s HOMEownership DPA goes further — providing up to 10–15% of the purchase price plus $2,500 toward closing costs. The Virginia Pilot program can provide up to $50,000 for buyers at or below 60% AMI. In high-cost Northern Virginia, Alexandria and Arlington have their own local programs offering $50,000–$75,000 in assistance to income-qualified buyers.

The SPARC program cuts your Virginia Housing mortgage rate by 1% if you’re buying in a targeted area. We layer multiple programs to minimize what you bring to closing.

“We’ve done three PCS moves in six years. Adam’s team was the first lender that understood our timeline without us having to explain military life from scratch. Zero down on a $485,000 Virginia Beach home, no PMI, closed in 26 days ahead of my deployment. Veteran to veteran — this is how it should be done.”

“We thought we needed a 10% down payment to buy in Scott’s Addition. Adam’s team stacked our FHA loan with the VHDA grant — we brought less than $3,200 to closing on a $340,000 Richmond home. The grant never has to be repaid. Nobody at the big banks told us this program even existed. We’ve been in our home eight months and couldn’t be happier.”

“As self-employed federal contractors, our tax returns made conventional qualifying nearly impossible despite excellent income. Adam structured two Fairfax DSCR loans through our LLC — qualified entirely on projected rental income. Northern Virginia’s tenant demand is rock solid. We closed both properties within 90 days and the portfolio is already fully leased.”

Virginia’s most expensive market — conforming limits reach $1,209,750. Federal employment and defense contracting drive some of the most competitive real estate in the country. VA loans with full entitlement are the most powerful tool in this market.

Home to Naval Station Norfolk — the world’s largest naval base — and NAS Oceana. Median home prices around $300,000 with stable military rental demand. One of Virginia’s highest-volume VA loan markets. Strong DSCR investor opportunities driven by military tenant stability.

One of Virginia’s hottest markets in 2025–2026. Median around $350,000 with growing tech, finance, and healthcare employment. Scott’s Addition and The Fan attract young professionals. Strong FHA and VHDA first-time buyer activity. Good DSCR fundamentals in suburban Chesterfield and Henrico.

University of Virginia drives steady rental demand and biotech employment. Average rent around $2,100/month with 2% annual growth. Strong long-term rental and short-term rental market. Conventional and DSCR financing both perform well here.

Strategy Call

We review your goals, timeline, and financial picture — no credit pull. For Virginia buyers, we map the right county-specific program from the start, whether that’s VHDA, DHCD, local city assistance, or VA.

Lender Shopping

We submit your profile to multiple Virginia-lending lenders and compare rates, terms, and programs. You see the options side by side — we explain every tradeoff.

Pre-Approval

A strong lender-reviewed pre-approval letter competitive in Virginia’s fast-moving markets. Northern Virginia sellers and agents are experienced — your offer needs to look bulletproof from day one.

Dedicated Processing

The same processor stays with you from application through closing. No handoffs, no repeated paperwork. For military buyers with PCS timelines, speed and communication aren’t optional.

Close & Annual Review

We keep your Virginia closing on schedule. Post-close, an annual real estate review ensures your mortgage still serves your goals as Virginia markets shift — especially valuable in Northern Virginia’s dynamic environment.

What are the 2026 conforming loan limits in Virginia?

Virginia uses two tiers for 2026. Most counties use the baseline limit of $806,500. Northern Virginia’s high-cost counties — Fairfax, Arlington, Loudoun, Prince William, and Alexandria — reach the national ceiling of $1,209,750. Hampton Roads and Richmond are generally at the $806,500 baseline. Knowing your county before making an offer prevents accidentally stepping into jumbo underwriting territory.

Can Virginia veterans use a VA loan with zero down in Northern Virginia’s expensive market?

Yes. Veterans with full entitlement have no VA loan limit — meaning zero down payment on any purchase price, including homes above $1,209,750 in Fairfax and Arlington. This is the single most powerful financing tool available in Northern Virginia’s high-cost market. If you’re stationed at Fort Belvoir, the Pentagon, or Quantico, this benefit is worth structuring correctly before you house hunt.

What is the VHDA Down Payment Assistance Grant?

Virginia Housing’s DPA Grant is a true non-repayable gift of 2–2.5% of the purchase price. Unlike deferred loans that come due when you sell, this money never has to be paid back. It requires a minimum 620 credit score and pairs with Virginia Housing FHA, conventional, or No-MI conventional loans. The VHDA max loan amount is $806,500 statewide — buyers in Northern Virginia above that threshold use conventional programs outside VHDA.

Is there a cash-out refinance restriction in Virginia like Texas?

No. Virginia has no state-level LTV cap on cash-out refinances. Texas’s constitutional 80% LTV restriction does not apply here. VA Cash-Out Refinances are also fully available in Virginia — unlike Texas, where VA Cash-Out is prohibited under Section 50(a)(6). Conventional cash-out allows up to 80% LTV on primary residences and 75% on investment properties.

What is a DSCR loan and how does it work for Virginia investors?

A DSCR loan qualifies based on the rental income the property generates — not your tax returns or W-2s. If projected rent covers the mortgage at roughly 1.0x–1.25x, you can qualify. Northern Virginia’s federal job base provides rock-solid tenant demand. Hampton Roads military tenants create reliable cash flow. Richmond and Charlottesville offer growing long-term rental markets. Available for individuals and LLCs on purchase, refinance, and cash-out.

What other Virginia first-time homebuyer programs exist beyond VHDA?

Virginia DHCD’s HOMEownership DPA provides up to 10–15% of the purchase price for buyers at or below 80% AMI. The Virginia Pilot DPA can provide up to $50,000 for buyers below 60% AMI. Alexandria offers up to $75,000 through its Flexible Homeownership Assistance Program. Arlington has similar local programs. SPARC cuts your Virginia Housing rate by 1% in targeted areas. We layer programs to maximize your benefit — contact us to find the right combination for your county.

What types of construction loans are available in Virginia?

We offer one-time close construction-to-permanent loans locking your rate from day one — critical in Northern Virginia’s high land cost environment where build timelines run 6–12 months. VA construction loans are available for eligible veterans building a primary residence. FHA and conventional construction-to-permanent options are also available depending on your location and loan size.

Do you require an upfront credit check to get started?

No. We begin with a strategy conversation to understand your goals, timeline, and financial picture. You’ll know exactly where you stand — including which Virginia assistance programs you qualify for — before we ever pull credit. No pressure, no hard inquiry until you’re ready to formally move forward.

About the Author

Adam Bartling

Army Veteran • Mortgage Loan Officer • NMLS #2213358

As a retired Army Captain and veteran-owned mortgage broker, I understand Virginia’s military communities from the inside. I’ve navigated PCS moves, understand VA entitlement, and know how Northern Virginia’s high-cost markets differ from Hampton Roads and Richmond. My team shops multiple lenders to match every Virginia buyer — first-time, veteran, or investor — with the right product at the best rate. No upfront credit check, no pressure, same dedicated team from call to close.

Residential loans $85K–$5M • Commercial loans $1M–$10M • Serving Texas & 30+ States