Virginia · State guide
How to buy a house in Virginia
A state of extremes — from the priciest suburbs in the country near DC to some of the most affordable towns in Appalachia — with strong down payment grants and a huge advantage for veterans. Here is the playbook for buying in the Old Dominion.
Last updated June 2026
Why Virginia is different
Buying a house in Virginia, the short version
The federal process is the same everywhere — read the complete guide to buying a house for the eight universal steps — but Virginia has its own programs, taxes, and closing rules worth knowing before you start.
The picture: Virginia is moderately expensive, but split by region (a statewide median around $440,000; Northern Virginia is among the priciest in the country, while Richmond, Hampton Roads, and western Virginia are far cheaper). The state agency, Virginia Housing, offers a rare down payment grant you never repay.
A few things stand out. Property taxes are moderate — and 100% disabled veterans pay none. Closings can be run by a title company or an attorney. And Virginia is a “buyer beware” state, so inspections matter. The coastal catch: Hampton Roads faces serious flooding and sea-level rise. Use the 50-state hub to compare other states.
The market
What homes cost in Virginia
Moderate statewide, but a huge range by region.
The statewide median sale price was about $440,000–$453,000 in spring 2026 (up ~3% year over year), with roughly 3 months of supply and homes selling near 99% of list — still seller-favorable but rebalancing. The average is pulled way up by Northern Virginia. Prices vary enormously:
Median prices by area
Northern Virginia (Arlington, Fairfax, Alexandria — among the priciest in the US) ~$715K–$790K · Charlottesville (university) ~$479K–$512K · Richmond (the capital) ~$414K · Virginia Beach / Hampton Roads ~$345K · Lynchburg ~$300K · Roanoke (western VA) ~$237K, very affordable · Southwest Virginia (Appalachia), the cheapest in the state.
Down payment & rate help
Virginia Housing programs
You don’t apply directly — you work through a participating lender. A 620–660 credit score and a free homebuyer course are the main requirements.
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A down payment grant you never repay
The standout: the Down Payment Assistance Grant gives 2% of the price on a conventional loan or 2.5% on an FHA loan — as a true grant you never pay back. You add at least 1% yourself (gift funds are fine). It’s for first-time buyers under the income and price limits.
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Plus Second Mortgage (no cash down)
Prefer to skip the down payment entirely? The Plus Second Mortgage pairs your loan with a second that covers the down payment — up to 5% of the price, or 6.5% with a 680+ credit score to also help with closing costs. Open to first-time and repeat buyers.
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Closing cost grant & veterans
Buying rural or using a VA loan? The Closing Cost Assistance Grant gives up to 2% toward closing costs (and the VA funding fee) on USDA and VA loans — never repaid. And Granting Freedom gives veterans with a service-related disability up to $8,000 to make a home accessible.
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Deeper help & federal loans
If you earn 80% of area median or less, the state’s DHCD program lends up to $40,000 as a 0% forgivable loan — far more than the grant. Cities add more (Loudoun up to $70,000). Plus VA (0% down, huge here), USDA (0% down), and FHA (3.5% down).
The Virginia Housing rules in brief
You’ll generally need a 620 credit score (some products want 640–660), completion of a free homebuyer education course, and household income and price under limits — which vary a lot by region (income caps run from about $90,000 in most of the state up to $186,000+ in Northern Virginia, with price limits of $500,000 rising to $800,000 in NoVA). One important note: Virginia Housing’s Mortgage Credit Certificate (MCC) has been suspended since May 2023, so no new tax-credit certificates are being issued.
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Property taxes
Property taxes in Virginia: moderate
Virginia has moderate property taxes — an effective rate around 0.74%, a bit below the national average, with a typical bill near $2,686. There’s no state property tax; each county, city, and town sets its own rate on a home assessed at full market value. That means huge variation — from about $404 a year in rural Buchanan County to over $10,000 in Falls Church City, where bills are high because home values are.
100% disabled veterans pay no property tax
A major Virginia benefit, given the state’s large military population: the primary residence of a veteran with a 100% service-connected disability is fully exempt from real estate tax — no income test — and the exemption passes to an unremarried surviving spouse. Localities also offer elderly and disabled tax relief. One thing to budget for that surprises newcomers: Virginia charges an annual personal property tax on vehicles (the “car tax”), set by each locality.
Closing & costs
Closing on a home in Virginia
Virginia lets you close with either a title/settlement company or an attorney (you, the buyer, get to choose the settlement agent). Title insurance is standard, and rates aren’t state-regulated, so it’s worth shopping. The transfer taxes are a multi-part system: the seller pays a grantor tax (~0.1%), while the buyer pays the recordation tax (~0.25%) on the deed and loan, plus small local add-ons and, in Northern Virginia and Hampton Roads, a regional transportation tax. On financing, the 2026 conforming limit is $832,750 and the FHA floor is $541,287, but Northern Virginia (the DC metro) goes all the way to $1,249,125.
Virginia is a “buyer beware” state — inspect carefully
This is important: Virginia is a caveat emptor (“buyer beware”) state. The Residential Property Disclosure Statement sellers give you is mostly a disclaimer — it tells you the seller makes no promises about the home’s condition and that it’s your job to investigate. So a thorough home inspection is essential here — plus your own checks on flood risk, septic/well, and easements. The federal lead-paint disclosure still applies to pre-1978 homes, and sellers can’t actively lie or hide defects.
Insurance & risks
Insuring a Virginia home
Virginia home insurance is moderate — averaging roughly $1,550–$2,700 a year depending on the home and area. The main risks are on the coast: Hampton Roads and the Eastern Shore face hurricanes and tropical storms (Isabel in 2003 was a big one). But the bigger issue there is flooding and sea-level rise — Hampton Roads (Norfolk, Virginia Beach) is one of the most at-risk areas on the entire East Coast. Inland, expect wind, hail, and some ice storms.
In Hampton Roads, plan for flood insurance and a hurricane deductible
If you’re buying near the coast, a few things matter. Flood is never covered by a standard policy, so you’ll likely need a separate NFIP policy — and in Norfolk, Virginia Beach, and much of the Lowcountry it’s often lender-required, since the land is both sinking and facing rising seas. Coastal policies also carry a separate hurricane deductible (a percentage of your home’s value). Get a flood quote before you make an offer — it can change what you can afford. Virginia does have a FAIR Plan (the Virginia Property Insurance Association) as a last resort if you can’t get standard coverage.
Wherever you buy
The steps that work the same in Virginia
Virginia sets the local rules, but these parts of buying are the same everywhere.
Quick answers
Buying a house in Virginia: common questions
How much money do you need to buy a house in Virginia?
With a conventional loan you need 3% down, FHA 3.5%, and VA or USDA can be 0%. On a typical ~$440,000 home that’s roughly $13,200–$15,400 down plus closing costs. Virginia Housing’s grant (2–2.5%) or Plus Second Mortgage can cover the down payment. See how much you really need →
Does Virginia have down payment assistance?
Yes. Virginia Housing’s Down Payment Assistance Grant gives 2–2.5% of the price you never repay, and the Plus Second Mortgage can cover the whole down payment. If you earn 80% of area median or less, the state’s DHCD program lends up to $40,000. See assistance programs →
Are there benefits for veterans buying in Virginia?
Yes, big ones. VA loans (0% down, no PMI) are widely used, and a veteran with a 100% service-connected disability pays no real estate tax on their primary home. Virginia Housing’s Closing Cost Grant and the Granting Freedom accessibility grant add more.
Why are Northern Virginia home prices so high?
Northern Virginia (Arlington, Fairfax, Alexandria, Loudoun) is part of the DC metro and tied to the federal government and tech, making it among the most expensive areas in the country. That’s also why its loan limits reach the high-cost ceiling of $1,249,125.
What credit score do you need in Virginia?
Virginia Housing generally requires a 620 (some products want 640–660). For loans broadly, FHA can go to 580 and USDA/VA typically want 620. A higher score mainly earns a lower rate. Check the score by loan type →
Do I need an attorney to buy a house in Virginia?
Not necessarily — Virginia lets you close with either a title/settlement company or an attorney, and you get to choose. Title companies handle most closings, but an attorney is common for complex deals. Only an attorney can give legal advice or prepare the deed.
Does Virginia have a seller disclosure?
Sort of — but Virginia is a “buyer beware” state. The disclosure form is mostly a disclaimer that says the seller makes no promises and it’s your job to investigate. So a home inspection and your own checks (flood, septic, easements) are essential. Sellers still can’t actively lie or conceal defects.
Do I need flood insurance in Virginia?
In Hampton Roads (Norfolk, Virginia Beach) and other coastal areas, often yes — and it’s frequently lender-required, since the region faces serious flooding and sea-level rise. Flood is never in a standard policy, so you’d add NFIP or private coverage. Get a quote before making an offer.
What’s the conforming loan limit in Virginia?
$832,750 in most of the state for 2026, with the FHA floor at $541,287. But Northern Virginia (Arlington, Fairfax, Loudoun, Prince William, Alexandria) reaches the high-cost ceiling of $1,249,125. Loans above the local limit are jumbo.
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