For buyers with solid credit and stable income, a Conventional Loan is often the most cost-effective path to homeownership in Virginia. The state’s conforming loan limits split cleanly into two tiers that reflect its dramatically different housing markets.
Northern Virginia’s DC Metro counties — Arlington, Alexandria, Fairfax, Loudoun, and Prince William — carry the $1,249,125 national high-cost ceiling, giving buyers in one of the nation’s most
competitive real estate markets full conforming access at loan amounts that would require Jumbo financing in most of the country. Hampton Roads (Virginia Beach, Norfolk, Chesapeake, Newport News), Richmond, and virtually all of the rest of Virginia follow the $832,750 national baseline.
Virginia Housing (formerly VHDA) conventional products pair directly with DPA assistance for eligible buyers across both markets.
620; 700+ for the best rates
As low as 3% for first-time buyers; 5% for repeat buyers; 20% eliminates PMI
Generally up to 45%
$1,249,125 in DC Metro high-cost counties; $832,750 in most other VA counties (2026)
Primary residences, second homes, and investment properties
Northern Virginia DC Metro ($1,249,125): The following jurisdictions carry the national high-cost ceiling for 2026:
Arlington County
Alexandria (independent city)
Fairfax County and the independent cities of Fairfax and Falls Church
Loudoun County
Prince William County and the independent cities of Manassas and Manassas Park
This elevated limit is a critical financing tool in a market where the median home price in Fairfax County routinely exceeds $600,000–$750,000 and communities like McLean, Great Falls, Vienna, Reston, and Tysons reach well above $1 million. A buyer financing a $1.2 million home in Fairfax County can stay within conforming guidelines — accessing lower rates, smaller down payments, and more flexible qualification — rather than being pushed into Jumbo territory.
Most of Virginia ($832,750): Applies to Virginia Beach, Norfolk, Chesapeake, Newport News, Hampton, Portsmouth,
Richmond/Henrico/Chesterfield, Charlottesville, Roanoke, Lynchburg, Fredericksburg, and the vast majority of Virginia counties and independent cities.
Note on Stafford and Spotsylvania Counties: These counties in the Fredericksburg corridor between DC and Richmond may carry elevated limits as they fall within the DC Metro statistical area. Your Bookspan Baker loan officer can confirm your specific county.
Virginia Housing Conventional (No MI): A conventional loan with no private mortgage insurance for eligible buyers — meaningful monthly savings over standard conventional loans with PMI. Minimum 640 credit score.
Virginia Housing Conventional (Reduced MI): Lower-than-standard PMI rates through the Virginia Housing program structure.
Both products can pair with Virginia Housing’s DPA Grant (2–2.5% non-repayable) and Plus Second Mortgage (up to 5%).
In Northern Virginia’s high-cost counties, loans between $832,750 and $1,249,125 are classified as high-balance conforming loans — a middle tier between standard conforming and Jumbo. High-balance conforming loans enjoy the benefits of conforming underwriting (lower rates, flexible qualification, lower down payments) while allowing financing at elevated amounts.
$1,249,125 — the national high-cost ceiling. Applies to Fairfax County and most Northern Virginia DC Metro jurisdictions.
$832,750 — the national baseline. Applies to Virginia Beach, Norfolk, Chesapeake, Newport News, Hampton, Portsmouth, and most of Hampton Roads.
A loan between $832,750 and $1,249,125 in a high-cost Northern Virginia county — still classified as conforming with conforming pricing, down payments, and underwriting.
Yes. Virginia Housing’s No MI and Reduced MI conventional products pair with the DPA Grant (2–2.5% non-repayable) and the Plus Second Mortgage (up to 5%).
