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2021 FHA Loan Limits in Virginia

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FHA loan limits in Virginia have increased up to $356,362 and $822,375 for a single-family home, depending on the county. The lower number applies to less expensive rural areas, while homebuyers in northern Virginia near the nation’s capital may qualify for the higher limit. If you’re buying in places such as Richmond and Virginia Beach, you may qualify for $535,900 and $458,850, respectively.

Have you been considering a move to Virginia? This may be the perfect time to buy a home or to refinance. And thanks to the Federal Housing Administration (FHA), some Virginians can qualify for federally backed loans to help get them into a new house. This year, residents will be able to borrow more with an FHA loan in some areas to make their dream of homeownership come true.

Virginia FHA loan limits by county

FHA Loan Limits in Virginia
County Name One-Family Two-Family Three-Family Four-Family Median Sale Price
Accomack $356,362 $456,275 $551,500 $685,400 $95,000
Albemarle $437,000 $559,450 $676,200 $840,400 $375,000
Alexandria City $822,375 $1,053,000 $1,272,750 $1,581,750 $823,000
Alleghany $356,362 $456,275 $551,500 $685,400 $131,000
Amelia $535,900 $686,050 $829,250 $1,030,600 $371,000
Amherst $356,362 $456,275 $551,500 $685,400 $235,000
Appomattox $356,362 $456,275 $551,500 $685,400 $235,000
Arlington $822,375 $1,053,000 $1,272,750 $1,581,750 $823,000
Augusta $356,362 $456,275 $551,500 $685,400 $238,000
Bath $356,362 $456,275 $551,500 $685,400 $98,000
Bedford $356,362 $456,275 $551,500 $685,400 $235,000
Bland $356,362 $456,275 $551,500 $685,400 $116,000
Botetourt $356,362 $456,275 $551,500 $685,400 $235,000
Bristol City $356,362 $456,275 $551,500 $685,400 $168,000
Brunswick $356,362 $456,275 $551,500 $685,400 $197,000
Buchanan $356,362 $456,275 $551,500 $685,400 $74,000
Buckingham $356,362 $456,275 $551,500 $685,400 $155,000
Buena Vista Cit $356,362 $456,275 $551,500 $685,400 $110,000
Campbell $356,362 $456,275 $551,500 $685,400 $235,000
Caroline $356,362 $456,275 $551,500 $685,400 $222,000
Carroll $356,362 $456,275 $551,500 $685,400 $120,000
Charles City $535,900 $686,050 $829,250 $1,030,600 $371,000
Charlotte $356,362 $456,275 $551,500 $685,400 $67,000
Charlottesville $437,000 $559,450 $676,200 $840,400 $375,000
Chesapeake City $458,850 $587,400 $710,050 $882,400 $362,000
Chesterfield $535,900 $686,050 $829,250 $1,030,600 $371,000
Clarke $822,375 $1,053,000 $1,272,750 $1,581,750 $823,000
Colonial Height $535,900 $686,050 $829,250 $1,030,600 $371,000
Covington City $356,362 $456,275 $551,500 $685,400 $42,000
Craig $356,362 $456,275 $551,500 $685,400 $235,000
Culpeper $822,375 $1,053,000 $1,272,750 $1,581,750 $823,000
Cumberland $356,362 $456,275 $551,500 $685,400 $145,000
Danville City $356,362 $456,275 $551,500 $685,400 $140,000
Dickenson $356,362 $456,275 $551,500 $685,400 $46,000
Dinwiddie $535,900 $686,050 $829,250 $1,030,600 $371,000
Emporia City $356,362 $456,275 $551,500 $685,400 $139,000
Essex $356,362 $456,275 $551,500 $685,400 $166,000
Fairfax $822,375 $1,053,000 $1,272,750 $1,581,750 $823,000
Fairfax City $822,375 $1,053,000 $1,272,750 $1,581,750 $823,000
Falls Church Ci $822,375 $1,053,000 $1,272,750 $1,581,750 $823,000
Fauquier $822,375 $1,053,000 $1,272,750 $1,581,750 $823,000
Floyd $356,362 $456,275 $551,500 $685,400 $156,000
Fluvanna $437,000 $559,450 $676,200 $840,400 $375,000
Franklin $356,362 $456,275 $551,500 $685,400 $235,000
Franklin City $458,850 $587,400 $710,050 $882,400 $362,000
Frederick $356,362 $456,275 $551,500 $685,400 $285,000
Fredericksburg $822,375 $1,053,000 $1,272,750 $1,581,750 $823,000
Galax City $356,362 $456,275 $551,500 $685,400 $114,000
Giles $356,362 $456,275 $551,500 $685,400 $228,000
Gloucester $458,850 $587,400 $710,050 $882,400 $362,000

How are FHA loan limits determined?

The U.S. Department of Housing and Urban Development (HUD) sets limits on how expensive a house the FHA will insure in each county in the United States. These limits are set based on the current year’s conforming loan limit — or how large of a mortgage Fannie Mae and Freddie Mac will purchase. In 2021, that conforming limit is $548,250, up roughly $38,000 from 2020’s limit of $510,400.

The FHA “floor” is the largest mortgage the agency will issue in most of the country and is 65% of the conforming loan limit. In 2021, the FHA floor is set at $356,362, an increase of about $24,600 above the 2020 limit of $331,760.

The FHA “ceiling” is a higher limit that only applies to high-cost areas. This is set at 150% of the conforming loan limit, or $822,375 for single-family homes. With a few exceptions, this is generally the largest mortgage amount the agency will insure for a single-family home. In many parts of the country, loan limits fall somewhere between the FHA floor and ceiling.

Outside of the lower 48 states, FHA maximum loan limits are higher because of more expensive construction costs. These include the special exception areas of Alaska, Hawaii, Guam and the U.S. Virgin Islands.

Here are the 2021 standard FHA limits for all property types:

  • One-unit: $356,362
  • Two-unit: $456,275
  • Three-unit: $551,500
  • Four-unit: $685,400

Here are the 2021 standard FHA limits for high-cost areas:

  • One-unit: $822,375
  • Two-unit: $1,053,000
  • Three-unit: $1,272,750
  • Four-unit: $1,581,750

Do you qualify for an FHA loan in Virginia?

FHA loans are a great deal for qualified buyers, thanks to lower down payments and closing costs. Find out if your credit score and income will help you qualify for one of these loans.

 

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