Virginia Mortgage Guide
Complete Virginia mortgage guide with median home prices, property tax rates, denial rates, and down payment assistance programs for 2026.
In Virginia, the median home price is $411,284 and median household income is $89,931. The mortgage denial rate for home purchases is 8.33% according to 2025 HMDA data. 3 down payment assistance programs are available, including Down Payment Assistance Grant (True grant (no repayment) of 2-2.5% of sales price for first-time homebuyers; can be paired with other non-Virginia Housing assistance.).
Virginia at a Glance
Median prices based on 2025 FHFA data. Income from 2024 Census ACS. Denial rates from 2025 HMDA data.
Mortgage Calculator for Virginia
Estimate your monthly payment with the interactive Virginia mortgage calculator. Includes property taxes, mortgage insurance, and down payment assistance programs.
Open Calculator →Mortgage Denial Rates in Virginia
In 2025 Home Mortgage Disclosure Act (HMDA) data for home purchases, Virginia logged 146,390 final-action applications. The mortgage denial rate was 8.33% and the originated share was 70.59%.
These figures show aggregated market outcomes, not an individual buyer's approval odds. Use these figures as context, not a prediction.
Down Payment Assistance Programs in Virginia
Down Payment Assistance Grant
Virginia Housing
True grant (no repayment) of 2-2.5% of sales price for first-time homebuyers; can be paired with other non-Virginia Housing assistance.
Closing Cost Assistance Grant
Virginia Housing
True grant (no repayment) to cover closing costs; available to first-time homebuyers using Virginia Housing loans.
Plus Second Mortgage
Virginia Housing
0% down payment second mortgage allowing buyers to borrow 1.5% more than sales price; available to first-time and repeat buyers.
Virginia County Calculators
These calculators use local tax and benefit data for each county.
Denial: 5.54% · Tax: 1.14% · 1 DPA programs
Denial: 4.82% · Tax: 1.03% · 1 DPA programs
Denial: 5.13% · Tax: 1.13% · 1 DPA programs
Denial: 6.99% · Tax: 0.85% · 1 DPA programs
Denial: 5.68% · Tax: 0.80% · 1 DPA programs
Denial: 5.63% · Tax: 1.25% · 1 DPA programs
Denial: 7.69% · Tax: 0.97% · 1 DPA programs
Denial: 6.46% · Tax: 1.20% · 1 DPA programs
Denial: 5.60% · Tax: 0.97% · 1 DPA programs
Virginia City Calculators
These calculators include local taxes, closing costs, and assistance programs for each city.
Virginia Mortgage FAQ
What is the median home price in Virginia?
The median home price in Virginia is approximately $411,000 as of 2025, based on FHFA housing price index data.
Does Virginia have down payment assistance programs?
Yes. Virginia Housing offers Down Payment Assistance Grant (2-2.5% true grant), Closing Cost Assistance Grant (true grant for closing costs), and Plus Second Mortgage (0% down payment second mortgage).
What is the mortgage denial rate in Virginia?
The statewide mortgage denial rate for home purchases in Virginia is 8.33% based on 2025 HMDA data, below the national average.
How do Virginia property taxes compare to other states?
Virginia has moderate property taxes, averaging around 0.81%, below the national average. Virginia offers a homestead exemption of up to $25,000 for primary residences.