FHA Loan Requirements, Limits, How to Apply and Best Lenders
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2023 FHA Loan Limits in Virginia

Written by
Rene Bermudez
Edited by
Kurt Adams
Updated on:
Content was accurate at the time of publication.

For many borrowers, buying a home with a mortgage backed by the Federal Housing Administration (FHA) can make homeownership far easier and more affordable. FHA loans generally offer lower down payment and credit score requirements to borrowers who qualify.

The FHA loan limits for a single-family home in Virginia range between $472,030 and $546,250 in most of the state, but in 18 counties near the Washington, D.C., metro area the limit goes up to $1,089,300.

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Virginia FHA loan limits by county

County nameOne unitTwo unitsThree unitsFour unitsMedian sale price
ACCOMACK$472,030$604,400$730,525$907,900$95,000
ALBEMARLE$507,150$649,250$784,800$975,300$441,000
ALEXANDRIA CITY$1,089,300$1,394,775$1,685,850$2,095,200$1,053,000
ALLEGHANY$472,030$604,400$730,525$907,900$90,000
AMELIA$546,250$699,300$845,300$1,050,500$475,000
AMHERST$472,030$604,400$730,525$907,900$260,000
APPOMATTOX$472,030$604,400$730,525$907,900$260,000
ARLINGTON$1,089,300$1,394,775$1,685,850$2,095,200$1,053,000
AUGUSTA$472,030$604,400$730,525$907,900$290,000
BATH$472,030$604,400$730,525$907,900$107,000
BEDFORD$472,030$604,400$730,525$907,900$260,000
BLAND$472,030$604,400$730,525$907,900$126,000
BOTETOURT$472,030$604,400$730,525$907,900$278,000
BRISTOL CITY$472,030$604,400$730,525$907,900$208,000
BRUNSWICK$472,030$604,400$730,525$907,900$182,000
BUCHANAN$472,030$604,400$730,525$907,900$80,000
BUCKINGHAM$472,030$604,400$730,525$907,900$151,000
BUENA VISTA CIT$472,030$604,400$730,525$907,900$134,000
CAMPBELL$472,030$604,400$730,525$907,900$260,000
CAROLINE$472,030$604,400$730,525$907,900$290,000
CARROLL$472,030$604,400$730,525$907,900$165,000
CHARLES CITY$546,250$699,300$845,300$1,050,500$475,000
CHARLOTTE$472,030$604,400$730,525$907,900$102,000
CHARLOTTESVILLE$507,150$649,250$784,800$975,300$441,000
CHESAPEAKE CITY$507,150$649,250$784,800$975,300$441,000
CHESTERFIELD$546,250$699,300$845,300$1,050,500$475,000
CLARKE$1,089,300$1,394,775$1,685,850$2,095,200$1,053,000
COLONIAL HEIGHT$546,250$699,300$845,300$1,050,500$475,000
COVINGTON CITY$472,030$604,400$730,525$907,900$88,000
CRAIG$472,030$604,400$730,525$907,900$278,000
CULPEPER$1,089,300$1,394,775$1,685,850$2,095,200$1,053,000
CUMBERLAND$472,030$604,400$730,525$907,900$209,000
DANVILLE CITY$472,030$604,400$730,525$907,900$112,000
DICKENSON$472,030$604,400$730,525$907,900$50,000
DINWIDDIE$546,250$699,300$845,300$1,050,500$475,000
EMPORIA CITY$472,030$604,400$730,525$907,900$211,000
ESSEX$472,030$604,400$730,525$907,900$215,000
FAIRFAX$1,089,300$1,394,775$1,685,850$2,095,200$1,053,000
FAIRFAX CITY$1,089,300$1,394,775$1,685,850$2,095,200$1,053,000
FALLS CHURCH CI$1,089,300$1,394,775$1,685,850$2,095,200$1,053,000
FAUQUIER$1,089,300$1,394,775$1,685,850$2,095,200$1,053,000
FLOYD$472,030$604,400$730,525$907,900$195,000
FLUVANNA$507,150$649,250$784,800$975,300$441,000
FRANKLIN$472,030$604,400$730,525$907,900$278,000
FRANKLIN CITY$507,150$649,250$784,800$975,300$441,000
FREDERICK$472,030$604,400$730,525$907,900$350,000
FREDERICKSBURG$1,089,300$1,394,775$1,685,850$2,095,200$1,053,000
GALAX CITY$472,030$604,400$730,525$907,900$133,000
GILES$472,030$604,400$730,525$907,900$280,000
GLOUCESTER$507,150$649,250$784,800$975,300$441,000
GOOCHLAND$546,250$699,300$845,300$1,050,500$475,000
GRAYSON$472,030$604,400$730,525$907,900$130,000
GREENE$507,150$649,250$784,800$975,300$441,000
GREENSVILLE$472,030$604,400$730,525$907,900$79,000
HALIFAX$472,030$604,400$730,525$907,900$90,000
HAMPTON CITY$507,150$649,250$784,800$975,300$441,000
HANOVER$546,250$699,300$845,300$1,050,500$475,000
HARRISONBURG CI$472,030$604,400$730,525$907,900$295,000
HENRICO$546,250$699,300$845,300$1,050,500$475,000
HENRY$472,030$604,400$730,525$907,900$90,000
HIGHLAND$472,030$604,400$730,525$907,900$150,000
HOPEWELL CITY$546,250$699,300$845,300$1,050,500$475,000
ISLE OF WIGHT$507,150$649,250$784,800$975,300$441,000
JAMES CITY$507,150$649,250$784,800$975,300$441,000
KING AND QUEEN$546,250$699,300$845,300$1,050,500$475,000
KING GEORGE$472,030$604,400$730,525$907,900$395,000
KING WILLIAM$546,250$699,300$845,300$1,050,500$475,000
LANCASTER$472,030$604,400$730,525$907,900$230,000
LEE$472,030$604,400$730,525$907,900$63,000
LEXINGTON CITY$472,030$604,400$730,525$907,900$258,000
LOUDOUN$1,089,300$1,394,775$1,685,850$2,095,200$1,053,000
LOUISA$472,030$604,400$730,525$907,900$299,000
LUNENBURG$472,030$604,400$730,525$907,900$75,000
LYNCHBURG CITY$472,030$604,400$730,525$907,900$260,000
MADISON$1,089,300$1,394,775$1,685,850$2,095,200$1,053,000
MANASSAS CITY$1,089,300$1,394,775$1,685,850$2,095,200$1,053,000
MANASSAS PARK C$1,089,300$1,394,775$1,685,850$2,095,200$1,053,000
MARTINSVILLE CI$472,030$604,400$730,525$907,900$90,000
MATHEWS$507,150$649,250$784,800$975,300$441,000
MECKLENBURG$472,030$604,400$730,525$907,900$105,000
MIDDLESEX$472,030$604,400$730,525$907,900$325,000
MONTGOMERY$472,030$604,400$730,525$907,900$280,000
NELSON$507,150$649,250$784,800$975,300$441,000
NEW KENT$546,250$699,300$845,300$1,050,500$475,000
NEWPORT NEWS CI$507,150$649,250$784,800$975,300$441,000
NORFOLK CITY$507,150$649,250$784,800$975,300$441,000
NORTHAMPTON$472,030$604,400$730,525$907,900$240,000
NORTHUMBERLAND$472,030$604,400$730,525$907,900$275,000
NORTON CITY$472,030$604,400$730,525$907,900$103,000
NOTTOWAY$472,030$604,400$730,525$907,900$174,000
ORANGE$472,030$604,400$730,525$907,900$320,000
PAGE$472,030$604,400$730,525$907,900$220,000
PATRICK$472,030$604,400$730,525$907,900$140,000
PETERSBURG CITY$546,250$699,300$845,300$1,050,500$475,000
PITTSYLVANIA$472,030$604,400$730,525$907,900$112,000
POQUOSON CITY$507,150$649,250$784,800$975,300$441,000
PORTSMOUTH CITY$507,150$649,250$784,800$975,300$441,000
POWHATAN$546,250$699,300$845,300$1,050,500$475,000
PRINCE EDWARD$472,030$604,400$730,525$907,900$177,000
PRINCE GEORGE$546,250$699,300$845,300$1,050,500$475,000
PRINCE WILLIAM$1,089,300$1,394,775$1,685,850$2,095,200$1,053,000
PULASKI$472,030$604,400$730,525$907,900$280,000
RADFORD CITY$472,030$604,400$730,525$907,900$280,000
RAPPAHANNOCK$1,089,300$1,394,775$1,685,850$2,095,200$1,053,000
RICHMOND$472,030$604,400$730,525$907,900$176,000
RICHMOND CITY$546,250$699,300$845,300$1,050,500$475,000
ROANOKE$472,030$604,400$730,525$907,900$278,000
ROANOKE CITY$472,030$604,400$730,525$907,900$278,000
ROCKBRIDGE$472,030$604,400$730,525$907,900$280,000
ROCKINGHAM$472,030$604,400$730,525$907,900$295,000
RUSSELL$472,030$604,400$730,525$907,900$80,000
SALEM CITY$472,030$604,400$730,525$907,900$278,000
SCOTT$472,030$604,400$730,525$907,900$208,000
SHENANDOAH$472,030$604,400$730,525$907,900$240,000
SMYTH$472,030$604,400$730,525$907,900$120,000
SOUTHAMPTON$507,150$649,250$784,800$975,300$441,000
SPOTSYLVANIA$1,089,300$1,394,775$1,685,850$2,095,200$1,053,000
STAFFORD$1,089,300$1,394,775$1,685,850$2,095,200$1,053,000
STAUNTON CITY$472,030$604,400$730,525$907,900$290,000
SUFFOLK CITY$507,150$649,250$784,800$975,300$441,000
SURRY$472,030$604,400$730,525$907,900$234,000
SUSSEX$546,250$699,300$845,300$1,050,500$475,000
TAZEWELL$472,030$604,400$730,525$907,900$126,000
VIRGINIA BEACH$507,150$649,250$784,800$975,300$441,000
WARREN$1,089,300$1,394,775$1,685,850$2,095,200$1,053,000
WASHINGTON$472,030$604,400$730,525$907,900$208,000
WAYNESBORO CITY$472,030$604,400$730,525$907,900$290,000
WESTMORELAND$472,030$604,400$730,525$907,900$240,000
WILLIAMSBURG CI$507,150$649,250$784,800$975,300$441,000
WINCHESTER CITY$472,030$604,400$730,525$907,900$350,000
WISE$472,030$604,400$730,525$907,900$103,000
WYTHE$472,030$604,400$730,525$907,900$175,000
YORK$507,150$649,250$784,800$975,300$441,000

How are FHA loan limits determined?

The U.S. Department of Housing and Urban Development (HUD) sets limits each year for how large of a loan the FHA is willing to insure in every county in the U.S. These limits are based on the conforming loan limits for conventional mortgages set by the Federal Housing Finance Agency (FHFA).

FHA loans have a national “floor” and “ceiling.” The floor is calculated as 65% of the conforming loan limit. For 2023, the floor is $472,030. The ceiling applies only to high-cost areas and is calculated at 150% of the limit. The ceiling for 2023 is $1,089,300.

In many parts of the country, the FHA loan limit will fall somewhere between the floor and the ceiling, depending on housing prices in that area over the previous year.

How to qualify for an FHA loan in Virginia

FHA loans are usually more forgiving than conventional loans when it comes to credit scores and down payment amounts, so they offer a chance to buy a home faster and with less money. Still, there are specific FHA loan requirements you must meet:

A credit score of 500 or higher. In order to take out an FHA loan, borrowers need to have a credit score of at least 500. With a conventional mortgage, the minimum score is 620.

A down payment of 3.5% or more. If your credit score is at least 580, you may qualify for a 3.5% down payment. With a lower credit score of 500 to 579, you’ll need to come up with a 10% down payment.

Mortgage insurance. Most FHA loans require borrowers to pay for two types of mortgage insurance: an upfront mortgage insurance premium (UFMIP) and an annual mortgage insurance premium (MIP). The UFMIP is 1.75% of the total loan amount and can be rolled into the mortgage. The MIP ranges from 0.15% to 0.75% of the loan and is spread out over 12 monthly installments.

A debt-to-income (DTI) ratio of 43% or less. Your debt-to-income ratio measures your monthly debt payments against your monthly income. In most cases, FHA loan borrowers can’t have a DTI ratio that exceeds 43%, although some lenders allow for exceptions.

Home must be a primary residence. Borrowers are required to use the home as their primary residence for at least 12 months after purchase. You can’t use an FHA loan to buy a second home or investment property that you don’t plan to live in.

An FHA home appraisal. The FHA has its own guidelines for home appraisals and requires them regardless of the home’s purchase price or the down payment amount.

Buying a multifamily property with an FHA loan

It’s possible to buy a multifamily home with an FHA loan as long as you live in one of the units for at least 12 months after purchase. You can expect the same down payment requirements, which means that qualified buyers can be eligible to put just 3.5% down.

FHA lenders in Virginia

Lender nameLT ratingMinimum FHA credit score
Sebonic Financial3 stars550
TD Bank4 stars620
Better Mortgage5 stars580
Carrington Mortgage3.5 stars500

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