Newport News

Compare Current Newport News, Virginia Mortgage Rates

Compare Newport News, 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 Newport News.

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

Newport News, VA Mortgage Rates as of June 12, 2024
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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, insurance premiums or private mortgage insurance if applicable. 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 Newport News, VA Mortgage Rates

June 12, 2024

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

How Affordable is Housing in Newport News, Virginia?

Below we provide helpful information on the real estate market, home prices and housing affordability in Newport News. Understand how much you need to earn to afford a home in Newport News, including the mortgage you need to qualify for. Review the monthy payment so you can determine if owning a house in Newport News 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 Newport News is right for you.

The median home value for Newport News, VA is $253,328

Based on current mortgage rates and a 10% down payment, you need to make $52,848 per year to buy the median priced home in Newport News

With this income, you could qualify for a $227,995 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 Newport News is $1,224

The median household income for Newport News, VA is $59,797

Based on this income, you can afford a home valued at approximately $286,639

The home price you can afford to buy based on household income in Newport News is 113% of the median home value which means housing prices are average. Newport News ranks 100 out of 133 counties in Virginia and 2,629 out of 3,142 counties in the United States for housing affordability.

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


Loan Limits for Newport News, Virginia

Mortgage limits affect your loan terms, mortgage program eligibility and what price home you can afford. Review the loan limits for Newport News below.

Conforming loan limits for Newport News, VA

1 unit: $726,200
2 units: $929,850
3 units: $1,123,900
4 units: $1,396,800

FHA loan limits for Newport News, VA

1 unit: $507,150
2 units: $649,250
3 units: $784,800
4 units: $975,300

VA loan limits for Newport News, VA

1 unit: $726,200

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