Compare Current Chester, Virginia Mortgage Rates

Compare Chester, VA 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 Chester.

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

Chester, VA Mortgage Rates as of May 24, 2022
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Data provided by Icanbuy, LLC. Payments do not include amounts for taxes and insurance premiums. Read through our lender table disclaimer for more information on rates and product details.


Compare Today's Chester, VA Mortgage Rates

May 24, 2022

Current mortgage rates in Chester, VA 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
Chester, VA Rates
30 Year Fixed Rate
15 Year Fixed Rate
5/1 Adjustable Rate Mortgage

How Affordable is Housing in Chester, Virginia?

Below we provide helpful information on the real estate market, home prices and housing affordability in Chester. Understand how much you need to earn to afford a home in Chester, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Chester fits your budget. This information is based on proprietary analysis you can only find on FREEandCLEAR and we offer it to help you decide if living in Chester is right for you.

The median home value for Chester, VA (Chesterfield County) is $289,922

Based on current mortgage rates and a 10% down payment, you need to make $47,503 per year to buy the median priced home in Chester

With this income, you could qualify for a $260,930 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 Chester is $1,100

The median household income for Chester, VA (Chesterfield County) is $89,279

Based on this income, you can afford a home valued at approximately $544,896

The home price you can afford to buy based on household income in Chester is 188% of the median home value which means housing prices are average. Chester (Chesterfield County) ranks 27 out of 133 counties in Virginia and 1,982 out of 3,142 counties in the United States for housing affordability.

According to the FREEandCLEAR Housing Affordability Index, the housing market in Chester, VA is average


Loan Limits for Chester, Virginia

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Chester (Chesterfield County) below.

Conforming loan limits for Chester, VA

1 unit: $647,200
2 units: $828,700
3 units: $1,001,650
4 units: $1,244,850

FHA loan limits for Chester, VA

1 unit: $535,900
2 units: $686,050
3 units: $829,250
4 units: $1,030,600

VA loan limits for Chester, VA

1 unit: $647,200

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