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Virginia

Current Virginia Mortgage Rates

Compare Virginia mortgage rates and fees from top lenders. Review free, personalized mortgage rates based on your specifc loan amount, program and other factors. Easily compare APRs, closing costs and monthly payments to find the lowest mortgage rates in Virginia.

We recommend that you contact at least five lenders as shopping multiple lenders is the best way to save money on your mortgage in Virginia. Plus, shopping lenders is free and there is no obligation.

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Virginia Mortgage Rates as of February 20, 2024
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Input your information to receive personalized mortgage quotes from preferred lenders. Comparing proposals from multiple lenders is the best way to save money on your mortgage.

Rate data provided by RateUpdate.com. Displayed by ICB, a division of Mortgage Research Center, NMLS #1907, Equal Housing Opportunity. Payments do not include taxes or insurance premiums. Actual payments will be greater with taxes and insurance included. Read through our lender table disclaimer for more information on rates and product details.

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Compare Today's Virginia Mortgage Rates

February 20, 2024

Current mortgage rates in Virginia are % for a 30 year fixed rate loan, % for a 15 year fixed loan and % for a 5/1 adjustable rate mortgage (ARM)

Mortgage Program
Today's
Virginia Rates
National
Average
Comparison
30 Year Fixed Rate
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6.669%
15 Year Fixed Rate
%
5.960%
5/1 Adjustable Rate Mortgage
%
6.250%

How Affordable is Housing in Virginia?

Below we offer valuable insights on the housing market and real estate prices in Virginia. Understand how much you need to make to buy a house in Virginia, including the mortgage you need. Review the monthy loan payment so you can determine if home ownership in Virginia is affordable for you. We provide this helpful information to help you decide if living in Virginia is right for you.

The median home value for Virginia is $405,155

Based on current mortgage rates and a 10% down payment, the income required to buy the median priced home in Virginia is $84,522

With this income, you could qualify for a $364,640 mortgage, assuming your monthly debt expense is reasonable

Based on this loan amount, the monthly mortgage payment required to buy the median priced home in Virginia is $1,957

The median household income for Virginia is $89,790

Based on this income, you can afford a home valued at approximately $430,406

The home price you can afford to buy based on household income in Virginia is 106% of the median home value which means housing prices are expensive. Virginia ranks 33 out of 50 states for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the real estate market in Virginia is expensive

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Additional Mortgage Resources for Virginia Residents

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