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Income and Sales Price / Loan Limits

All of our first-time homebuyer loans have maximum income and sales price/loan limits based on the geographic area in which the home is located. They are also limited to borrowers who have not owned AND occupied a home as a primary residence in the past three years. Exceptions to this guideline as well as higher income and sales price/loan limits are available for properties located in Areas of Economic Opportunity.

Effective: 08/18/2021
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Area
Maximum Gross Household Income
Sales Price/Loan Limits
2 or Fewer People
3 or More People
New & Existing Construction
  Standard
With Virginia Housing DPA or CCA Grant
 Standard
With Virginia Housing DPA or CCA Grant
Washington-Arlington-Alexandria
$145,000
$116,000
$170,000
$136,000
$550,000
Charlottesville
 $90,000
$72,000
$105,000
 $84,000
$375,000
Richmond
 $98,400
$78,700
 $114,900
 $91,900
$425,000
Norfolk-VA Beach-Newport News
 $90,400
$72,300
 $105,400
 $84,300
$390,000
Culpeper-Rappahannock-Warren
$92,300
$73,800
$107,700
$86,100
$450,000
King George
$92,600
$74,000
$106,900
$85,500
$300,000
All Other Areas of Virginia
$88,300
$70,600
$101,600
$81,200
$295,000

 

Calculation of maximum household income varies depending on program type or if combined with an MCC (Mortgage Credit Certificate) or Virginia Housing Down Payment Assistance (DPA) grant.

Income and Sales Price Limits To view applicable limits for loan applications prior to 8/18/2021 click here.

 

Metropolitan Statistical Area (MSA) Details

Washington-Arlington-Alexandria
Charlottesville
Richmond
 Norfolk-Virginia Beach-Newport News

Alexandria, Arlington County,
Clarke County, Fairfax,
Fairfax County, Falls Church,
Fauquier County, Fredericksburg,
Loudoun County, Manassas,
Manassas Park, Prince William County,
Spotsylvania County, Stafford County

Albemarle County,
Charlottesville,
Fluvanna County,
Greene County,
Nelson County
Amelia County, Charles City County,
Chesterfield County, Colonial Heights,  Dinwiddie County, Goochland County, Hanover County, Henrico County, Hopewell, King William County, New Kent County, Petersburg, Powhatan County, Prince George County, City of Richmond, Sussex
Chesapeake, Gloucester County, Hampton,
Isle of Wight County,
James City County, Mathews County, Newport News, Norfolk, Poquoson, Portsmouth, Suffolk, Virginia Beach, Williamsburg,
York County

 

  • These limits apply to all Virginia Housing loans. Virginia Housing Plus combined first and second mortgage cannot exceed maximum sales price limit.
  • Loan amounts that include financed guaranty fees or mortgage insurance premiums cannot exceed Virginia Housing’s sales price limits.
  • Please check with your Virginia Housing-approved lender to verify income, sales price and loan limits for your purchase.
  • Conventional loans follow the maximum conforming loan limits.

 

The information contained herein (including but not limited to any description of Virginia Housing and its lending programs and products, eligibility criteria, interest rates, fees and all other loan terms) is subject to change without notice.

Contact Us

Homebuyer Department

Toll Free: 800-227-8432
Local: 804-783-6725
Homeownership@vhda.com

 

Customer Service

Toll Free: 877-VHDA-123
Local: 804-782-1986

 

Virginia Relay

In Virginia: 711
Toll Free: 800-828-1140

 

Virginia Housing Fraud, Waste or Abuse Hotline

Phone: 804-915-3146
Email: InternalAudit@vhda.com
Website: Reporting Fraud, Waste or Abuse