Buying a Home in Virginia: Mortgage Guide and Programs for 2026

Virginia's real estate market spans dramatically different environments — from high-cost Northern Virginia suburbs to more affordable markets in Richmond, Roanoke, Hampton Roads, and rural southwest Virginia. Here is what buyers and investors need to know about financing in Virginia in 2026.

Virginia Housing (VHDA) Programs

Virginia Housing offers the most comprehensive first-time buyer assistance in the state. The Down Payment Assistance Grant provides up to 2 to 2.5% of the purchase price as a non-repayable grant — one of the few true grant programs in the mid-Atlantic. The Plus Second Mortgage provides additional assistance layered on top.

Income limits, purchase price limits, and first-time buyer requirements apply.

Northern Virginia: DC Suburbs

Fairfax, Arlington, Alexandria, Loudoun, and Prince William counties form one of the most competitive and expensive markets on the East Coast. Driven by Amazon HQ2, federal employment, and defense contracting, many transactions require high-balance conforming or jumbo financing.

VA Loans in Virginia

Virginia has one of the highest concentrations of active military and veterans in the country, driven by proximity to the Pentagon and multiple major installations including Quantico, Fort Belvoir, Joint Base Langley-Eustis, and NAS Oceana. VA loans are heavily used throughout the state.

Richmond and Charlottesville

Richmond has appreciated significantly, attracting buyers priced out of the DC area. Charlottesville continues to draw buyers connected to the University of Virginia and growing tech sector.

At East Coast Mortgage, we are licensed in Virginia and structure financing for primary residence buyers and investors across the state. Book a call to discuss your Virginia purchase.