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Virginia FHA Loans                                                                                                                        

Virginia FHA loans reflect Government's commitment to expanding homeownership in Virginia through reduced down payment requirements and relaxed underwriting guidelines. Virginia FHA loans can get you into a home when nothing else will. Email Virginia FHA Loans questions

FHA recognizes many Virginia counties as high housing cost areas and has increased the maximum Virginia FHA loans amount to $362,790 increasing the number of Virginia properties qualifying for Virginia FHA loans.

Find the FHA l<span class="style1">oans limit in your county.

Virginia FHA loans are an exceptional option for Virginia first time homebuyers as Virginia FHA loans require only 3% cash (which may be a gift) and are more lenient with past credit problems. We look at the last two years of your credit history. If there are some credit issues, we may overcome them with sufficient explanations. Never rule yourself out of qualifying for Virginia FHA loans because of credit, prequalify and have me review it. I have information on Virginia FHA loans credit requirements available.

There are some credit issues that we must allow time to pass before you can qualify for Virginia FHA loans.

  • Two years from the date of discharge for a bankruptcy
  • Three years from the date of foreclosure

Virginia FHA loans require any outstanding collection accounts be paid before closing. If you have had some credit difficulties in the past, Virginia FHA loans compensating factors may get your loan approved.

This page is dedicated to using Virginia FHA loans to purchase a Virginia home. If your interest is in refinancing Virginia FHA loans, see the Virginia FHA Loans Streamline Refinance section.


  • Lower required down payment on Virginia FHA loans
  • These loans are assumable with a qualified borrower
  • Higher qualifying ratios of 29% for housing and 41% for total indebtedness
  • More flexible underwriting standards
  • Gift funds for down payment and closing costs are allowed
  • Up-front Mortgage Insurance Premium can be financed
  • Less cash out of pocket required than most loan programs
  • The lowest down payment requirement of any non-subsidized financing program
  • Non-occupant co-borrowers are allowed for qualifying purposes
  • Seller is allowed to pay prepaid expenses
  • Seller can contribute up to 6% of purchase price toward closing cost and discount points
  • With their no cost streamlined refinancing you can lower your payment at NO COST to you.
  • The ARM has the best features on the market with a 1% annual interest rate cap and a 5% lifetime cap.


One important feature of these products is that the loan is assumable. If interest rates rise, an assumable mortgage may be the difference between being able to sell your home or not.

Learn more about your Virginia FHA Loans Closing Costs

I have included a page on how to calculate your Virginia FHA loans qualification ratios.

I have included a page on your Virginia FHA loans documentation requirements

I have a Free report "Buying your First Home" available by email.

I have an article "Buying your home in 2008" by email explaining negotiating strategy in today's market.

Learn more about investing. This is useful information that may help you to select one home compared to another.

As a Certified Mortgage Planning Specialist, I offer an analysis of your situation today and can make suggestions on how small changes in how your debt is structured today can have a life changing effect in the years to come.  Read more about this free, no obligation service.

Virginia FHA LoansPrequalify for Virginia FHA Loans 


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