Buying a home in Virginia, from Arlington to Abingdon.
The Commonwealth has some of the most varied real estate markets in the country — and some of the most generous assistance programs. Here's what Virginia buyers should know.
Different markets, different strategies
Fairfax, Arlington, Loudoun
High price points push many buyers into jumbo or high-balance conforming territory. Competitive offers matter. VA loans are common due to the DOD workforce.
Henrico, Chesterfield, Richmond City
A mix of move-up and first-time buyers. Virginia Housing programs are widely used. Watch for renovation needs in older city homes.
Virginia Beach, Norfolk, Chesapeake
Heavy military population. VA loans dominate. Flood zone considerations are common — plan appraisal and insurance early.
Roanoke, Harrisonburg, Blacksburg
More affordable price points and significant USDA eligibility. First-time buyer programs stretch further.
The Virginia assistance landscape
Virginia Housing runs several programs, often stackable with FHA, Conventional, VA, or USDA first mortgages:
- DPA Grant — percentage of purchase price, no repayment.
- Closing Cost Grant — reduces out-of-pocket costs at closing.
- Plus Second Mortgage — layered second to cover down payment and closing.
- Mortgage Credit Certificate (MCC) — federal tax credit on mortgage interest.
- Veterans mortgage benefits — on top of VA loan benefits.
Virginia closing-cost quick reference
Typical VA closing costs run 2–4% of the loan amount and commonly include:
- Lender origination and underwriting fees
- Title insurance and settlement fees
- Virginia recordation and grantor tax
- Prepaid interest, taxes, and homeowners insurance
- Appraisal and credit report fees
These are estimates only — actual figures depend on loan amount, property, and location. We provide a written Loan Estimate within three business days of application.
What can you afford in your area?
Rough price and income guidance by market — so you can gut-check where to start looking before you run the full Mortgage Plan.
| County / City | Typical Price Range | Est. Income Needed | Common Programs |
|---|---|---|---|
| Fairfax County | $550k – $900k+ | $130k – $200k+ | VA Housing DPA, Conventional, Jumbo |
| Loudoun County | $550k – $850k | $125k – $190k | VA Housing DPA, USDA (some areas) |
| Arlington | $600k – $1.2M+ | $140k – $250k+ | VA Housing DPA, Jumbo |
| Alexandria (city) | $500k – $900k | $120k – $200k | VA Housing DPA, FHA |
| Prince William | $380k – $580k | $90k – $135k | VA Housing DPA, FHA, USDA |
| Stafford | $350k – $550k | $80k – $125k | VA Housing DPA, USDA, FHA |
| Richmond area | $280k – $480k | $65k – $110k | VA Housing DPA, FHA |
| Hampton Roads | $270k – $460k | $62k – $105k | VA Housing DPA, FHA, VA Loan |
Price ranges and income estimates are illustrative only, based on general market data as of early 2026. Actual qualification depends on your full financial profile, credit, debts, and lender guidelines. Speak with a TMES advisor for a personalized estimate.