Virginia FHA loan limits are set by county, not by one statewide number. That matters because a buyer in Richmond, Henrico, Chesterfield, or Hanover may have a different maximum FHA loan amount than a buyer purchasing in a higher-cost Northern Virginia county. Before you fall in love with a home, confirm the county limit, your required down payment, and the mortgage insurance payment that comes with FHA financing.
Duane Buziak, NMLS #1110647
Table of Contents
- How Virginia FHA loan limits work
- The limit is not your purchase-price limit
- A worked FHA payment example
- FHA mortgage insurance for 2026
- Why a broker review matters
- Questions Virginia buyers ask
How Virginia FHA loan limits work
FHA publishes annual maximum mortgage amounts based on the county where the property sits, the number of units, and the local cost level. Most first-time buyers are looking at the one-unit limit, but duplex, triplex, and four-unit properties have separate and higher caps.
The critical number is the base loan amount, not the sales price. Your base FHA loan is generally the lower of the county limit or the amount allowed by FHA’s maximum loan-to-value rules after the required down payment. The annual county limits and mortgage insurance figures below are verified as of August 28, 2026.
For a Virginia buyer using the minimum 3.5% down payment, the county limit determines the highest base mortgage FHA can insure. A home can be priced above that limit only if you bring enough additional cash to reduce the base loan to the county maximum. That is possible, but it changes the cash-to-close conversation quickly.
Richmond-area buyers should not assume a headline limit from a national search result applies to their address. County lines matter. So do property type, appraised value, seller concessions, and whether your funds include an eligible down payment assistance program.
The limit is not your purchase-price limit
A county limit does not mean every borrower can qualify for that amount. FHA approval still depends on income, debts, credit history, assets, appraisal results, and the overall payment. A buyer with strong income may be capped by the county limit. Another buyer may be well under the limit but need to reduce debts or choose a lower payment.
FHA can be especially useful for buyers whose credit score is between 580 and 619. A 580 score is generally the threshold for the 3.5% minimum down payment under FHA guidelines, while scores from 500 through 579 may require 10% down. Individual underwriting requirements can be stricter, which is exactly why product selection matters.
A worked Virginia FHA loan example
Assume you are buying a one-unit home in a Virginia county where the applicable FHA limit supports the loan amount.
The purchase price is $400,000. With FHA’s 3.5% down payment requirement, the math is:
- $400,000 x 3.5% = $14,000 down payment
- $400,000 – $14,000 = $386,000 base FHA loan
- $386,000 x 1.75% = $6,755 upfront mortgage insurance premium
- $386,000 + $6,755 = $392,755 total financed loan amount if the upfront premium is financed
For a 30-year FHA loan above 90% loan-to-value, the annual mortgage insurance premium is 0.55% of the base loan amount. That is $386,000 x 0.55% = $2,123 per year, or $176.92 per month.
At a hypothetical 6.50% fixed interest rate, principal and interest on the $392,755 financed balance is approximately $2,482 per month. Add the estimated $176.92 monthly FHA mortgage insurance, and the payment is about $2,658.92 before property taxes, homeowners insurance, and any HOA dues. Rates, insurance, and taxes change, so use this as payment math, not a quote.
That example shows why the loan limit is only one piece of the decision. The payment is what determines whether the purchase is comfortable and approvable.
FHA mortgage insurance structure for 2026
FHA mortgage insurance has two parts: an upfront premium typically financed into the loan and an annual premium paid monthly. The annual premium duration changes based on loan term and loan-to-value ratio.
| Loan term | Base loan-to-value | Annual MIP rate | MIP duration |
|---|---|---|---|
| More than 15 years | More than 90% | 0.55% | 11 years |
| More than 15 years | 90% or less | 0.50% | Loan term |
| 15 years or less | More than 90% | 0.40% | 11 years |
| 15 years or less | 90% or less | 0.15% | Loan term |
Verified as of August 28, 2026: the upfront FHA mortgage insurance premium is 1.75% of the base loan amount. The table reflects the current annual MIP structure for standard FHA purchase financing. FHA mortgage insurance is a trade-off: it can make a 3.5% down purchase possible, but it adds to the monthly payment and should be compared against conventional options when your credit profile supports both.
Why a broker review matters before you shop
A retail bank can show you its one FHA offering. An independent broker can evaluate FHA options across 500+ wholesale lending channels, then identify a structure that fits your credit, debt-to-income ratio, down payment source, and county limit. That does not mean every buyer receives the same approval or pricing. It means you are not limited to a single product shelf.
Start without adding an unnecessary inquiry to your credit file. The NoTouch Credit Pull process is a soft pull pre-approval designed to provide useful qualification direction without a hard inquiry. It can help you understand where you stand before an offer deadline creates pressure.
A soft credit pull is not a final mortgage approval. Income, assets, property details, appraisal, and underwriting documentation still matter. But a no hard credit inquiry can be a smart first step for buyers comparing FHA with conventional financing or assessing a down payment assistance pairing.
NoTouch Credit Pull can also help buyers who are rebuilding credit decide whether to act now or improve a few items first. A no hard pull mortgage pre-approval gives you a practical starting point, while a soft pull mortgage pre-approval helps protect your ability to compare options deliberately.
Frequently Asked Questions
What are Virginia FHA loan limits for 2026?
Virginia FHA loan limits vary by county and property type, so there is no single statewide maximum. The applicable one-unit limit is based on the county where the home is located. Confirm the current county figure before writing an offer, especially near higher-cost Virginia markets or county boundaries.
Can I buy above the FHA county limit?
Yes, but FHA cannot insure a base loan above the applicable county maximum. You may purchase a more expensive home if you make a larger down payment that reduces the base loan to the limit. Your income, assets, and appraisal must still support the transaction.
Is the FHA limit based on my income?
No. FHA loan limits are geographic caps based on county and property type, not your personal income. Income affects how much payment you can qualify for. A borrower may qualify below the county cap because of debts, taxes, insurance costs, or documented income.
Does FHA require 3.5% down in every situation?
A borrower with a qualifying credit score of 580 or higher may be eligible for FHA’s 3.5% minimum down payment. Scores from 500 to 579 generally require 10% down. Approval also depends on the complete file, including debt, income, assets, and property eligibility.
Is FHA mortgage insurance permanent?
Not always. For a 30-year FHA mortgage with more than 90% loan-to-value, annual mortgage insurance generally lasts 11 years under the current structure. At 90% loan-to-value or less, it generally lasts for the loan term. Refinancing later may be worth evaluating.
Can down payment assistance work with FHA?
It often can, provided the assistance program, property, borrower profile, and loan structure meet applicable requirements. The assistance may cover some or all of the down payment and, in certain cases, closing costs. Review program terms early because availability and repayment rules vary.
Will a soft pull hurt my credit score?
A soft pull typically does not affect your credit score the way a hard inquiry can. NoTouch Credit Pull uses a soft inquiry for early qualification direction. It is not a commitment to lend or final approval, and a hard inquiry may be required later.
Should I choose FHA or conventional financing?
It depends on your credit score, down payment, property plans, and monthly-payment target. FHA may be stronger with a smaller down payment or recovering credit profile. Conventional financing can be more competitive for some borrowers with stronger credit, more cash down, and favorable private mortgage insurance options.
A county limit should never be the surprise that interrupts an otherwise strong offer. Get the address, estimated taxes, insurance, credit direction, and cash-to-close numbers reviewed together before you negotiate price.
Legal disclaimer: Mortgage programs, underwriting requirements, interest rates, annual FHA limits, mortgage insurance premiums, and down payment assistance rules can change. This article is educational information, not a loan approval, commitment, rate quote, legal advice, or tax advice. All loans are subject to credit, income, asset, appraisal, property, and underwriting review.
Duane Buziak, Mortgage Maestro | Coast2Coast Mortgage LLC | NMLS #1110647 | (804) 212-8663 | duane@coast2coastml.com | 4860 Cox Rd, Glen Allen VA 23060 | Licensed: VA, FL, TN, GA, DC | VA Broker of the Year 2024-2025 | Scotsman Guide Top Originator 2025 & 2026 | UWM PRO ELITE 2025 | Top 1% Nationwide | 1,400+ five-star reviews.
