Home Loans in Virginia
The Old Dominion offers diverse opportunities. NorthStar Funding serves Virginia buyers from NoVA to the coast. All credit scores welcome — even no score.
Virginia Housing Market
About the Virginia Real Estate Market
Virginia's proximity to DC and strong military presence drive housing demand. Northern Virginia commands premium prices with excellent job opportunities, while Hampton Roads and Richmond offer more affordable options with strong communities.
Loan Programs Available in Virginia
We offer a variety of mortgage options to fit your unique situation. All programs welcome borrowers with less-than-perfect credit.
VHDA Programs
Virginia Housing Development Authority programs with down payment assistance for qualified buyers.
FHA Loans
Government-backed loans popular in Virginia with flexible credit requirements.
VA Loans
Zero down payment for Virginia veterans. Strong military presence throughout Hampton Roads.
Non-QM / Bank Statement
Perfect for NoVA contractors, consultants, and federal employees with variable income.
Check Your Eligibility
See if you qualify for special loan programs with lower down payments and flexible income requirements.
Income Eligibility Checker
HomeReady® & Home Possible® - 3% Down Payment Programs
HomeReady®by Fannie MaeIncome must be ≤80% of Area Median Income (AMI). No geographic restrictions.
Home Possible®by Freddie MacIncome must be ≤80% AMI. Some census tracts have no income limit.
Quick Comparison:
| Feature | HomeReady® | Home Possible® |
|---|---|---|
| Min. Down Payment | 3% | 3% |
| Min. Credit Score | 620 | 620 |
| Income Limit | ≤80% AMI | ≤80% AMI* |
| Homebuyer Education | Required | Required |
*No income limit in designated underserved areas
Why Choose NorthStar Funding in Virginia?
What Virginia Homeowners Say
"NorthStar helped us buy in Arlington with easy Metro access to DC. They understood the competitive NoVA market."
The Washington Family
"Found our dream home in Virginia Beach with NorthStar. Great for our Navy family!"
The Martinez Family
"VHDA assistance made homeownership possible in Richmond. NorthStar guided us through everything."
Jennifer & Marcus T.
Frequently Asked Questions
What credit score do I need to buy a home in Virginia?
NorthStar Funding welcomes all credit scores in Virginia, starting as low as 500 with FHA loans (10% down). For scores 580+, you may qualify for just 3.5% down.
What are the best mortgage programs available in Virginia?
In Virginia, we offer FHA loans, VA loans (extremely popular), USDA loans for eligible rural areas, conventional loans, jumbo loans for NoVA, and bank statement loans. VHDA programs provide down payment assistance.
How much is the average home price in Virginia?
The median home price in Virginia is approximately $400K. Northern Virginia (Arlington, Alexandria) is significantly higher due to D.C. proximity, while Hampton Roads and rural VA are more affordable.
Are there first-time homebuyer programs in Virginia?
Yes! VHDA (Virginia Housing Development Authority) offers programs with down payment assistance up to 2.5% and competitive rates. The Closing Cost Assistance Grant provides up to 2% for closing costs.
What are property taxes like in Virginia?
Virginia property taxes average approximately 0.8% of assessed value. Rates vary by locality — Fairfax County and Arlington have higher rates but also higher home values.
Can I get a VA loan in Virginia?
Absolutely! VA loans are extremely popular in Virginia given the massive military presence — Norfolk Naval Station, Fort Belvoir, Quantico, and the Pentagon. VA loans offer 0% down, no PMI, and competitive rates.
How long does it take to close on a home in Virginia?
The typical closing timeline in Virginia is 30-45 days. Northern Virginia is very competitive, so having a pre-qualification letter from NorthStar is essential for a strong offer.
Does NorthStar Funding offer manual underwriting in Virginia?
Yes! We specialize in manual underwriting for Virginia borrowers. This is valuable for military families, government contractors, and D.C. commuters with complex income situations.
What documents do I need to apply for a mortgage in Virginia?
Typical documents include 2 years of tax returns, recent pay stubs, bank statements, W-2s or 1099s, and ID. Military members can provide their LES (Leave and Earnings Statement).
Can self-employed borrowers get a mortgage in Virginia?
Absolutely! Our bank statement programs are popular with Virginia consultants, government contractors, and entrepreneurs in the D.C. metro area and Hampton Roads.
NorthStar Funding Licensing Information
NMLS #: 123456
Licensed in: Multi-State
Years in Business: 15+
Total Loans Originated: $2B+
Ready to Get Started?
See your options in minutes with no impact to your credit score. Our team is ready to help you find the right loan for your Virginia home.