2024 FHA Loan Limits in Virginia
Coryanne Hicks is a personal finance writer and ghostwriter, and formerly a representative at Fidelity Investments. In addition to articles, Hicks has ghostwritten whitepapers and financial guidebooks for dozens of industry professionals. Her U.S. News & World Report video series on how to start investing at any age won an honorable mention at the 2019 Folio: Eddie & Ozzie awards for best Consumer How-To video. She was also a 2019 SABEW Goldschmidt fellow for business journalists.
Timothy Manni started his career as a writer, but for the better part of the last 15 years he has been an editor and content team leader in the mortgage and home buying space. For six years, he lead the Mortgage Content team at NerdWallet, and before that he was the managing editor at HSH.com. Currently, he’s utilizing his years of expertise to help websites like LendingTree, Yahoo Finance and MoneyGeek elevate the information they are sharing with consumers.
The Federal Housing Administration (FHA) makes it easier for folks with less-than-perfect credit to qualify for a home loan through the FHA home loan program. You can get an FHA loan in Virginia with a credit score as low as 500.
FHA loan limits vary by county and range from $498,257 to $1,149,825 for single-family homes in Virginia. Here’s what you need to know about FHA loans and their limits in Virginia before you apply.
Virginia FHA loan limits by county
| County name | One unit | Two units | Three units | Four units | Median sales price |
|---|---|---|---|---|---|
| ACCOMACK | $498,257 | $637,950 | $771,125 | $958,350 | $80,000 |
| ALBEMARLE | $545,100 | $697,800 | $843,500 | $1,048,300 | $474,000 |
| ALEXANDRIA CITY | $1,149,825 | $1,472,250 | $1,779,525 | $2,211,600 | $1,072,000 |
| ALLEGHANY | $498,257 | $637,950 | $771,125 | $958,350 | $166,000 |
| AMELIA | $631,350 | $808,250 | $977,000 | $1,214,150 | $549,000 |
| AMHERST | $498,257 | $637,950 | $771,125 | $958,350 | $262,000 |
| APPOMATTOX | $498,257 | $637,950 | $771,125 | $958,350 | $262,000 |
| ARLINGTON | $1,149,825 | $1,472,250 | $1,779,525 | $2,211,600 | $1,072,000 |
| AUGUSTA | $498,257 | $637,950 | $771,125 | $958,350 | $311,000 |
| BATH | $498,257 | $637,950 | $771,125 | $958,350 | $113,000 |
| BEDFORD | $498,257 | $637,950 | $771,125 | $958,350 | $262,000 |
| BLAND | $498,257 | $637,950 | $771,125 | $958,350 | $132,000 |
| BOTETOURT | $498,257 | $637,950 | $771,125 | $958,350 | $275,000 |
| BRISTOL CITY | $498,257 | $637,950 | $771,125 | $958,350 | $225,000 |
| BRUNSWICK | $498,257 | $637,950 | $771,125 | $958,350 | $225,000 |
| BUCHANAN | $498,257 | $637,950 | $771,125 | $958,350 | $69,000 |
| BUCKINGHAM | $498,257 | $637,950 | $771,125 | $958,350 | $229,000 |
| BUENA VISTA | $498,257 | $637,950 | $771,125 | $958,350 | $174,000 |
| CAMPBELL | $498,257 | $637,950 | $771,125 | $958,350 | $262,000 |
| CAROLINE | $498,257 | $637,950 | $771,125 | $958,350 | $310,000 |
| CARROLL | $498,257 | $637,950 | $771,125 | $958,350 | $169,000 |
| CHARLES CITY | $631,350 | $808,250 | $977,000 | $1,214,150 | $549,000 |
| CHARLOTTE | $498,257 | $637,950 | $771,125 | $958,350 | $70,000 |
| CHARLOTTESVILLE | $545,100 | $697,800 | $843,500 | $1,048,300 | $474,000 |
| CHESAPEAKE CITY | $690,000 | $883,300 | $1,067,750 | $1,326,950 | $600,000 |
| CHESTERFIELD | $631,350 | $808,250 | $977,000 | $1,214,150 | $549,000 |
| CLARKE | $1,149,825 | $1,472,250 | $1,779,525 | $2,211,600 | $1,072,000 |
| COLONIAL HEIGHT | $631,350 | $808,250 | $977,000 | $1,214,150 | $549,000 |
| COVINGTON CITY | $498,257 | $637,950 | $771,125 | $958,350 | $99,000 |
| CRAIG | $498,257 | $637,950 | $771,125 | $958,350 | $275,000 |
| CULPEPER | $1,149,825 | $1,472,250 | $1,779,525 | $2,211,600 | $1,072,000 |
| CUMBERLAND | $498,257 | $637,950 | $771,125 | $958,350 | $234,000 |
| DANVILLE CITY | $498,257 | $637,950 | $771,125 | $958,350 | $108,000 |
| DICKENSON | $498,257 | $637,950 | $771,125 | $958,350 | $40,000 |
| DINWIDDIE | $631,350 | $808,250 | $977,000 | $1,214,150 | $549,000 |
| EMPORIA CITY | $498,257 | $637,950 | $771,125 | $958,350 | $168,000 |
| ESSEX | $498,257 | $637,950 | $771,125 | $958,350 | $239,000 |
| FAIRFAX | $1,149,825 | $1,472,250 | $1,779,525 | $2,211,600 | $1,072,000 |
| FAIRFAX CITY | $1,149,825 | $1,472,250 | $1,779,525 | $2,211,600 | $1,072,000 |
| FALLS CHURCH | $1,149,825 | $1,472,250 | $1,779,525 | $2,211,600 | $1,072,000 |
| FAUQUIER | $1,149,825 | $1,472,250 | $1,779,525 | $2,211,600 | $1,072,000 |
| FLOYD | $498,257 | $637,950 | $771,125 | $958,350 | $250,000 |
| FLUVANNA | $545,100 | $697,800 | $843,500 | $1,048,300 | $474,000 |
| FRANKLIN | $498,257 | $637,950 | $771,125 | $958,350 | $275,000 |
| FRANKLIN CITY | $690,000 | $883,300 | $1,067,750 | $1,326,950 | $600,000 |
| FREDERICK | $498,257 | $637,950 | $771,125 | $958,350 | $385,000 |
| FREDERICKSBURG | $1,149,825 | $1,472,250 | $1,779,525 | $2,211,600 | $1,072,000 |
| GALAX CITY | $498,257 | $637,950 | $771,125 | $958,350 | $142,000 |
| GILES | $498,257 | $637,950 | $771,125 | $958,350 | $310,000 |
| GLOUCESTER | $690,000 | $883,300 | $1,067,750 | $1,326,950 | $600,000 |
| GOOCHLAND | $631,350 | $808,250 | $977,000 | $1,214,150 | $549,000 |
| GRAYSON | $498,257 | $637,950 | $771,125 | $958,350 | $130,000 |
| GREENE | $545,100 | $697,800 | $843,500 | $1,048,300 | $474,000 |
| GREENSVILLE | $498,257 | $637,950 | $771,125 | $958,350 | $167,000 |
| HALIFAX | $498,257 | $637,950 | $771,125 | $958,350 | $87,000 |
| HAMPTON CITY | $690,000 | $883,300 | $1,067,750 | $1,326,950 | $600,000 |
| HANOVER | $631,350 | $808,250 | $977,000 | $1,214,150 | $549,000 |
| HARRISONBURG | $498,257 | $637,950 | $771,125 | $958,350 | $322,000 |
| HENRICO | $631,350 | $808,250 | $977,000 | $1,214,150 | $549,000 |
| HENRY | $498,257 | $637,950 | $771,125 | $958,350 | $82,000 |
| HIGHLAND | $498,257 | $637,950 | $771,125 | $958,350 | $95,000 |
| HOPEWELL CITY | $631,350 | $808,250 | $977,000 | $1,214,150 | $549,000 |
| ISLE OF WIGHT | $690,000 | $883,300 | $1,067,750 | $1,326,950 | $600,000 |
| JAMES CITY | $690,000 | $883,300 | $1,067,750 | $1,326,950 | $600,000 |
| KING AND QUEEN | $631,350 | $808,250 | $977,000 | $1,214,150 | $549,000 |
| KING GEORGE | $498,257 | $637,950 | $771,125 | $958,350 | $420,000 |
| KING WILLIAM | $631,350 | $808,250 | $977,000 | $1,214,150 | $549,000 |
| LANCASTER | $498,257 | $637,950 | $771,125 | $958,350 | $255,000 |
| LEE | $498,257 | $637,950 | $771,125 | $958,350 | $60,000 |
| LEXINGTON CITY | $498,257 | $637,950 | $771,125 | $958,350 | $403,000 |
| LOUDOUN | $1,149,825 | $1,472,250 | $1,779,525 | $2,211,600 | $1,072,000 |
| LOUISA | $498,257 | $637,950 | $771,125 | $958,350 | $332,000 |
| LUNENBURG | $498,257 | $637,950 | $771,125 | $958,350 | $69,000 |
| LYNCHBURG CITY | $498,257 | $637,950 | $771,125 | $958,350 | $262,000 |
| MADISON | $1,149,825 | $1,472,250 | $1,779,525 | $2,211,600 | $1,072,000 |
| MANASSAS CITY | $1,149,825 | $1,472,250 | $1,779,525 | $2,211,600 | $1,072,000 |
| MANASSAS PARK | $1,149,825 | $1,472,250 | $1,779,525 | $2,211,600 | $1,072,000 |
| MARTINSVILLE | $498,257 | $637,950 | $771,125 | $958,350 | $82,000 |
| MATHEWS | $690,000 | $883,300 | $1,067,750 | $1,326,950 | $600,000 |
| MECKLENBURG | $498,257 | $637,950 | $771,125 | $958,350 | $119,000 |
| MIDDLESEX | $498,257 | $637,950 | $771,125 | $958,350 | $345,000 |
| MONTGOMERY | $498,257 | $637,950 | $771,125 | $958,350 | $310,000 |
| NELSON | $545,100 | $697,800 | $843,500 | $1,048,300 | $474,000 |
| NEW KENT | $631,350 | $808,250 | $977,000 | $1,214,150 | $549,000 |
| NEWPORT NEWS | $690,000 | $883,300 | $1,067,750 | $1,326,950 | $600,000 |
| NORFOLK CITY | $690,000 | $883,300 | $1,067,750 | $1,326,950 | $600,000 |
| NORTHAMPTON | $498,257 | $637,950 | $771,125 | $958,350 | $250,000 |
| NORTHUMBERLAND | $498,257 | $637,950 | $771,125 | $958,350 | $213,000 |
| NORTON CITY | $498,257 | $637,950 | $771,125 | $958,350 | $100,000 |
| NOTTOWAY | $498,257 | $637,950 | $771,125 | $958,350 | $169,000 |
| ORANGE | $498,257 | $637,950 | $771,125 | $958,350 | $349,000 |
| PAGE | $498,257 | $637,950 | $771,125 | $958,350 | $240,000 |
| PATRICK | $498,257 | $637,950 | $771,125 | $958,350 | $173,000 |
| PETERSBURG CITY | $631,350 | $808,250 | $977,000 | $1,214,150 | $549,000 |
| PITTSYLVANIA | $498,257 | $637,950 | $771,125 | $958,350 | $108,000 |
| POQUOSON CITY | $690,000 | $883,300 | $1,067,750 | $1,326,950 | $600,000 |
| PORTSMOUTH CITY | $690,000 | $883,300 | $1,067,750 | $1,326,950 | $600,000 |
| POWHATAN | $631,350 | $808,250 | $977,000 | $1,214,150 | $549,000 |
| PRINCE EDWARD | $498,257 | $637,950 | $771,125 | $958,350 | $165,000 |
| PRINCE GEORGE | $631,350 | $808,250 | $977,000 | $1,214,150 | $549,000 |
| PRINCE WILLIAM | $1,149,825 | $1,472,250 | $1,779,525 | $2,211,600 | $1,072,000 |
| PULASKI | $498,257 | $637,950 | $771,125 | $958,350 | $310,000 |
| RADFORD CITY | $498,257 | $637,950 | $771,125 | $958,350 | $310,000 |
| RAPPAHANNOCK | $1,149,825 | $1,472,250 | $1,779,525 | $2,211,600 | $1,072,000 |
| RICHMOND | $498,257 | $637,950 | $771,125 | $958,350 | $97,000 |
| RICHMOND CITY | $631,350 | $808,250 | $977,000 | $1,214,150 | $549,000 |
| ROANOKE | $498,257 | $637,950 | $771,125 | $958,350 | $275,000 |
| ROANOKE CITY | $498,257 | $637,950 | $771,125 | $958,350 | $275,000 |
| ROCKBRIDGE | $498,257 | $637,950 | $771,125 | $958,350 | $208,000 |
| ROCKINGHAM | $498,257 | $637,950 | $771,125 | $958,350 | $322,000 |
| RUSSELL | $498,257 | $637,950 | $771,125 | $958,350 | $79,000 |
| SALEM CITY | $498,257 | $637,950 | $771,125 | $958,350 | $275,000 |
| SCOTT | $498,257 | $637,950 | $771,125 | $958,350 | $225,000 |
| SHENANDOAH | $498,257 | $637,950 | $771,125 | $958,350 | $243,000 |
| SMYTH | $498,257 | $637,950 | $771,125 | $958,350 | $124,000 |
| SOUTHAMPTON | $690,000 | $883,300 | $1,067,750 | $1,326,950 | $600,000 |
| SPOTSYLVANIA | $1,149,825 | $1,472,250 | $1,779,525 | $2,211,600 | $1,072,000 |
| STAFFORD | $1,149,825 | $1,472,250 | $1,779,525 | $2,211,600 | $1,072,000 |
| STAUNTON CITY | $498,257 | $637,950 | $771,125 | $958,350 | $311,000 |
| SUFFOLK CITY | $690,000 | $883,300 | $1,067,750 | $1,326,950 | $600,000 |
| SURRY | $498,257 | $637,950 | $771,125 | $958,350 | $265,000 |
| SUSSEX | $631,350 | $808,250 | $977,000 | $1,214,150 | $549,000 |
| TAZEWELL | $498,257 | $637,950 | $771,125 | $958,350 | $132,000 |
| VIRGINIA BEACH | $690,000 | $883,300 | $1,067,750 | $1,326,950 | $600,000 |
| WARREN | $1,149,825 | $1,472,250 | $1,779,525 | $2,211,600 | $1,072,000 |
| WASHINGTON | $498,257 | $637,950 | $771,125 | $958,350 | $225,000 |
| WAYNESBORO CITY | $498,257 | $637,950 | $771,125 | $958,350 | $311,000 |
| WESTMORELAND | $498,257 | $637,950 | $771,125 | $958,350 | $248,000 |
| WILLIAMSBURG | $690,000 | $883,300 | $1,067,750 | $1,326,950 | $600,000 |
| WINCHESTER CITY | $498,257 | $637,950 | $771,125 | $958,350 | $385,000 |
| WISE | $498,257 | $637,950 | $771,125 | $958,350 | $100,000 |
| WYTHE | $498,257 | $637,950 | $771,125 | $958,350 | $187,000 |
| YORK | $690,000 | $883,300 | $1,067,750 | $1,326,950 | $600,000 |
How are FHA loan limits determined?
Each year, the FHA sets a maximum loan amount that it will insure within a given area. These limits are usually lower than what you could borrow with a conforming loan.
FHA loan limits are set based on a percentage of the Federal Housing Finance Agency’s (FHFA) conforming loan limits. Areas with a high cost of living are assigned a “ceiling,” or upper loan limit, while low-cost-of-living areas get a “floor,” or lower loan limit. In 2024, the loan ceiling for high-cost-of-living areas is 150% of the national conforming loan limit, or $1,149,825, and the floor for low-cost areas is 65% of the national conforming loan limit, or $498,257.
FHA loan limits are set on a county-by-county basis and based on the type of property. For instance, a single-family home in the county of Richmond City has a loan limit of $631,350, while a four-family home can be insured for up to $1,214,150. In a lower-cost county, homes of the same size would be capped at $498,257 and $958,350, respectively.
How to qualify for an FHA loan in Virginia
While FHA loans can be easier to qualify for than some other home loans, there are still certain criteria that must be met. You don’t need perfect credit or the ability to make a large down payment, but lenders will still evaluate both your credit score and income, among other factors.
To qualify for an FHA loan in Virginia, you’ll need to meet the following criteria:
→ Credit score. FHA loans require at least a 580 credit score, but a higher score means a lower down payment. If your score is 580 or above, you can qualify for a 3.5% down payment versus a 10% down payment for scores between 500 and 579.
→ Debt-to-income ratio. You need a debt-to-income ratio, or DTI, of 43% or less. This means your monthly debt payments are no more than 43% of your gross monthly income.
→ Income and employment. You must have steady income and be employed to get an FHA loan. The lender will ask for proof of employment, so be prepared to present such documentation.
→ Mortgage insurance premiums. Two forms of FHA mortgage insurance are required. This makes it less risky for the lender to loan you money and will be included upfront when you close the loan (1.75% of the loan amount) and in your total monthly payment to the lender (an annual premium equal to 0.15% to 0.75% of the loan amount).
→ Primary residence. The home you are purchasing must be intended to serve as your primary residence.
Buying a multifamily property with an FHA loan
The FHA home loan program isn’t just for single-family homes. You can also buy a multifamily home with two to four units and only need to provide a 3.5% down payment.
The FHA requirements are the same regardless of the property size you’re purchasing. This means to qualify for a multifamily FHA loan, you must meet the following requirements:
→ 500 credit score or higher (580 or above to get a 3.5% down payment)
→ 43% DTI ratio or less
→ Steady income
→ Proof of employment
→ FHA mortgage insurance
| Number of units | Low-cost FHA loan limit |
|---|---|
| Two | $637,950 |
| Three | $771,125 |
| Four | $958,350 |
FHA lenders in Virginia
Lender | LendingTree rating | Min. FHA credit score | |
|---|---|---|---|
 Flagstar Bank | 580 | ||
 Guaranteed Rate | Not disclosed | ||
 PennyMac | 580 | ||
 Rocket Mortgage | 580 | ||
 BMO Harris | 580 |
