Virginia Beach FHA Loan Rates, Closing Costs & Stats

VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC

FHA loans are mortgages created in the 1930's to help insulate lenders from credit risks and help promote home ownership. The Federal Housing Administration (hence, FHA) allows for lower downpayments and credit scores-- making these loans much more accessible than traditional mortgages.

FHA loans typically need just a 3.5% downpayment with credit scores of 580 or better. For credit scores between 500-579, the downpayment needs to be at least 10%.

While FHA loans make home ownership much more accessible to first-time homebuyers, they do require PMI (purchase money insurance)-- an additional insurance premium that is paid to the FHA to help cover defaults.

For additional requirements as defined by the FHA, click here.

Virginia Beach's 192 lenders originated 4,855 FHA loans during 2023. The total origination value was $1,340,005,000, with an average FHA loan value of $276,005.

Virginia Beach FHA Loans, 30 Year Fixed Rates

30 Year FHA mortgages in Virginia Beach averaged 6.41% for the week of 2024-04-12, compared to the national average (all FHA variants) of 6.739% for the same period.

Virginia Beach's average FHA mortgage closing costs are $8,170.

The average rate for the prior week (2024-04-05) was 6.63% and one month ago for the week of 2024-03-08, the average rate was 6.67%.

The average rate one year ago was 6.3%.

For refis of the same type during the week of 2024-04-12, the average rate was 6.54%.

Click on whitespace and scroll within the chart to zoom in/out. Larger bubbles equate with more originations.

Virginia Beach FHA Loan Lenders by Rates & Fees

The below table looks at the average fees/closing costs and rates for FHA 30 Year Fixed Rate (purchase, first lien) mortgages originated by each lender at the Virginia Beach level.

Name # of Loans 2023 Avg. 30yFix Rate 2023 Avg. Closing Costs
ATLANTIC BAY MORTGAGE GROUP, L.L.C. 475 6.72% $11,638
AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC 435 6.71% $12,061
UNITED WHOLESALE MORTGAGE, LLC 352 6.28% $11,888
QUICKEN LOANS, LLC 340 6.16% $11,551
MOVEMENT MORTGAGE, LLC 261 6.56% $10,691
SOUTHERN TRUST MORTGAGE, LLC 199 6.67% $11,301
NVR Mortgage Finance, Inc. 139 5.73% $13,536
CBM Mortgage, Inc. 116 6.58% $11,044
TIDEWATER MORTGAGE SERVICES, INC. 115 6.79% $10,879
LOANDEPOT.COM, LLC 81 6.28% $11,565
Atlantic Coast Mortgage, LLC 74 6.32% $11,597
BROKER SOLUTIONS, INC. 73 6.80% $11,840
NEWREZ LLC 65 6.46% $11,601
PENNYMAC LOAN SERVICES, LLC 63 6.16% $13,311
Prosperity Home Mortgage, LLC 60 6.52% $10,181
CARDINAL FINANCIAL 58 6.43% $12,942
HOMESPIRE MORTGAGE CORPORATION 58 6.91% $8,609
Mr. Cooper ( Nationstar Mortgage ) 53 5.98% $14,301
FREEDOM MORTGAGE CORPORATION 53 6.79% $13,502
CALIBER HOME LOANS, INC. 48 5.92% $11,466
CROSSCOUNTRY MORTGAGE, LLC 48 6.73% $12,894
Towne Bank 45 6.51% $11,856
FAIRWAY INDEPENDENT MORTGAGE CORPORATION 45 6.54% $10,514
AMERICAN FINANCIAL NETWORK, INC. 43 6.81% $12,933
Mortgage Research Center, LLC 38 6.63% $7,272
Alcova Mortgage LLC 37 7.02% $8,759
Tidewater Home Funding, LLC 36 6.28% $9,179
Advance Financial Group, LLC 35 6.67% $12,430
Towne Mortgage, LLC 34 6.69% $12,070
The Federal Savings Bank 31 6.44% $11,836
CMG MORTGAGE, INC. 31 6.46% $10,797
C & F Mortgage Corporation 29 6.70% $11,269
Carrington Mortgage Services, LLC 29 6.32% $14,510
PRIMELENDING, A PLAINSCAPITAL COMPANY 29 6.82% $12,100
EMM LOANS LLC 28 6.37% $10,938
AMERISAVE MORTGAGE CORPORATION 27 5.99% $14,089
Blue Ridge Bank 26 6.45% $9,189
DHI MORTGAGE COMPANY, LTD. 25 5.14% $14,264
FIDELITY DIRECT MORTGAGE, LLC 23 6.97% $9,280
Ameris Bank 23 6.52% $9,821
MUTUAL OF OMAHA MORTGAGE, INC. 21 6.57% $15,390
EMBRACE HOME LOANS, INC. 16 6.48% $10,892
Fulton Bank 16 6.34% $10,699
HOMEBRIDGE FINANCIAL SERVICES, INC. 15 6.33% $11,369
MID AMERICA MORTGAGE, INC. 15 7.46% $9,999
Virginia Credit Union, Inc. 14 6.33% $8,078
CAPITAL CENTER, L.L.C. 14 6.50% $8,715
LOANPAL, LLC 14 5.83% $11,555
JOHNSON MORTGAGE COMPANY, L.L.C. 14 5.67% $11,618
MILEND, INC. 14 6.37% $14,777
Wells Fargo Bank 14 6.46% $8,803
Equity Prime Mortgage LLC 13 6.82% $11,256
SWBC MORTGAGE CORPORATION 13 6.69% $9,882
Plains Commerce Bank 13 6.47% $14,699
Truist 12 6.47% $8,469
RELIANCE FIRST CAPITAL, LLC 12 6.95% $11,723
GENEVA FINANCIAL, LLC 12 6.83% $14,458
LAKEVIEW LOAN SERVICING, LLC 12 5.89% $12,586
HOMESIDE FINANCIAL, LLC 11 6.44% $12,315
CITY FIRST MORTGAGE SERVICES, L.L.C. 11 7.25% $13,172
FIRST COMMUNITY MORTGAGE, INC. 11 7.17% $11,156
Paramount Residential Mortgage Group, Inc. 11 6.66% $12,819
ISERVE RESIDENTIAL LENDING, LLC 10 6.61% $11,981
PLANET HOME LENDING, LLC 10 5.71% $9,119
Sierra Pacific Mortgage Company, Inc. 10 6.49% $13,953
Flagstar Bank, FSB 10 6.32% $11,844
SUN WEST MORTGAGE COMPANY, INC. 10 6.33% $11,607
Evolve Bank & Trust 10 6.73% $10,914
DRAGAS MORTGAGE COMPANY 9 6.15% $9,524
PLAZA HOME MORTGAGE, INC. 9 6.51% $15,988
AMERICAN FINANCIAL RESOURCES, INC. 8 6.14% $13,940
Presidential Bank, FSB 8 6.89% $10,578
CHURCHILL MORTGAGE CORPORATION 7 6.34% $11,500
Loan Simple, Inc. 7 7.04% $10,531
GUILD MORTGAGE COMPANY 7 6.80% $12,331
Lakeview Community Capital, LLC 7 5.88% $11,366
T2 FINANCIAL LLC 6 7.10% $11,919
EAGLE HOME MORTGAGE, LLC 6 5.96% $17,759
Keystone Funding, Inc. 6 6.02% $12,024
TOWNE MORTGAGE COMPANY 6 6.75% $14,059
AMERICAN NATIONWIDE MORTGAGE COMPANY, INC. 6 6.83% $14,069
OCMBC, INC. 6 7.21% $11,292
FIRST HOME MORTGAGE CORPORATION 6 6.48% $11,660
PENTAGON FEDERAL CREDIT UNION 6 5.54% $9,131
GUARANTEED RATE, INC. 6 6.77% $12,084
ZILLOW HOME LOANS, LLC 5 6.65% $8,130
ARK-LA-TEX FINANCIAL SERVICES, LLC. 5 6.35% $7,805
First Federal Bank 5 6.18% $10,958
M&T Bank 5 7.08% $12,407
NewTowne Mortgage, LLC 5 6.03% $11,842
NFM, INC. 5 6.93% $10,853
SeaTrust Mortgage Company 5 6.57% $11,328
TOP FLITE FINANCIAL, INC. 5 6.90% $13,889
VILLAGE CAPITAL MORTGAGE 5 6.38% $13,842
MCLEAN MORTGAGE CORPORATION 4 6.34% $8,865
Nations Lending Corporation 4 6.06% $12,769
MICHIGAN MUTUAL, INC. 4 5.69% $10,334
AMERICAN FINANCING CORPORATION 4 6.38% $12,143
U.S. Bank 4 5.72% $15,112
NATIONS DIRECT MORTGAGE, LLC 4 6.28% $11,268
BAY EQUITY LLC 4 6.22% $9,719
NATION ONE MORTGAGE CORPORATION 3 6.92% $11,284
MIDLAND MORTGAGE CORPORATION 3 6.67% $9,170
George Mason Mortgage, LLC 3 6.54% $8,935
SOUTHPOINT FINANCIAL SERVICES, INC. 3 6.46% $10,990
GSF Mortgage Corporation 3 5.79% $12,354
MEADOWBROOK FINANCIAL MORTGAGE BANKERS CORP. 3 7.25% $10,791
PHH Mortgage Corporation 3 5.75% $13,094
Bank of America 3 6.54% $6,892
VAN DYK MORTGAGE CORPORATION 3 7.08% $7,191
Northpointe Bank 3 5.54% $11,631
LANGLEY 3 6.54% $7,742
JPMorgan Chase Bank 3 5.96% $9,526
Barrington Bank & Trust Company, N.A. 2 6.25% $15,075
Ixonia Bank 2 6.19% $11,263
DATA MORTGAGE, INC. 2 6.81% $9,760
TOTAL MORTGAGE SERVICES, LLC 2 6.94% $11,014
PRIMARY RESIDENTIAL MORTGAGE, INC. 2 6.63% $13,982
MORIA DEVELOPMENT, INC. 2 7.06% $9,417
NBKC BANK 2 5.88% $10,005
NETWORK CAPITAL FUNDING CORPORATION 2 6.00% $9,669
UNION HOME MORTGAGE CORP. 2 7.69% $12,199
RANLIFE, INC. 2 6.62% $9,552
MORTGAGE ACCESS CORP. 2 6.19% $12,353
UNIVERSAL MORTGAGE & FINANCE, INC. 2 6.94% $16,710
SOUTHWEST STAGE FUNDING, LLC 2 6.19% $9,638
US MORTGAGE CORPORATION 2 6.25% $18,214
LIBERTY HOME MORTGAGE CORPORATION 2 7.06% $13,720
C&F Select LLC 2 6.13% $7,732
MORTGAGE SOLUTIONS OF COLORADO, LLC 2 7.00% $12,421
The Central Trust Bank 2 5.88% $13,063
Fifth Third Bank 2 6.00% $10,192
Dollar Bank, Federal Savings Bank 2 6.75% $6,979
SUMMIT FUNDING, INC. 2 6.75% $18,363
MLD MORTGAGE INC. 2 6.25% $11,221
BAYSHORE MORTGAGE FUNDING, LLC 1 7.75% $9,156
The Freedom Bank of Virginia 1 5.50% $6,503
THE MORTGAGE FIRM, INC. 1 6.25% $12,072
THE MORTGAGE LINK, INC. 1 6.00% $17,305
THRIVE MORTGAGE, LLC 1 6.13% $9,050
ALLIED MORTGAGE GROUP, INC. 1 5.38% $18,949
Atlantic Union Bank 1 6.75% $8,425
Arvest Bank 1 6.50% $7,317
AmeriHome Mortgage Company, LLC 1 6.63% $7,908
American Mortgage & Equity Consultants, Inc. 1 6.75% $9,753
JET DIRECT FUNDING CORP 1 7.13% $11,345
American Mortgage Bank, LLC 1 7.63% $8,593
Vellum Mortgage, Inc. 1 7.00% $16,424
LEADERONE FINANCIAL CORPORATION 1 6.75% $17,438
LEGEND LENDING CORPORATION 1 6.50% $17,121
LOANLEADERS OF AMERICA, INC. 1 6.75% $17,815
UNITED NORTHERN MORTGAGE BANKERS LIMITED 1 6.63% $7,082
Magnolia Bank 1 6.25% $22,993
Meridian Bank Corporation 1 7.25% $18,588
JAMS-01, INC. 1 7.13% $17,022
Mid-Continent Funding, Inc. 1 6.00% $21,201
MID-ISLAND MORTGAGE CORP. 1 6.63% $12,086
MLB RESIDENTIAL LENDING, LLC 1 5.63% $20,538
INTERCOASTAL MORTGAGE COMPANY 1 7.13% $9,263
INTELLILOAN, INC. 1 6.38% $7,005
Integrity Home Mortgage Corp 1 7.13% $12,553
VERITAS FUNDING, LLC 1 6.50% $15,860
MY MORTGAGE, INC. 1 7.50% $11,677
NATIONS RELIABLE LENDING, LLC 1 6.75% $12,048
NATIONWIDE MORTGAGE BANKERS, INC. 1 6.75% $16,721
GoPrime Mortgage, Inc. 1 6.63% $6,451
VILLAGE BANK MORTGAGE CORPORATION 1 7.50% $9,725
1ST SIGNATURE LENDING, LLC 1 5.75% $9,530
GOLD STAR MORTGAGE FINANCIAL GROUP, CORPORATION 1 6.25% $10,133
OCEANSIDE MORTGAGE COMPANY 1 7.50% $4,685
OPEN MORTGAGE, LLC 1 6.50% $21,776
GEO-CORP, INC. 1 6.25% $8,958
First Option Mortgage, LLC 1 6.63% $7,578
First Heritage Mortgage, LLC 1 6.63% $13,914
Encompass Lending Group, LP 1 7.00% $14,009
PNC Bank 1 6.50% $12,189
PREMIA MORTGAGE, LLC 1 5.75% $9,261
DAS Acquisition Company, LLC 1 6.75% $18,292
CORNERSTONE HOME LENDING, INC. 1 6.25% $8,448
CONTOUR MORTGAGE CORPORATION 1 6.25% $10,357
CityWorth Mortgage LLC 1 6.75% $16,460
Residential Mortgage Solutions, Inc. 1 5.75% $19,118
ROSS MORTGAGE CORPORATION 1 6.63% $14,111
ROYAL UNITED MORTGAGE LLC 1 6.75% $13,762
RUOFF MORTGAGE COMPANY, INC. 1 6.50% $8,534
SECURITYNATIONAL MORTGAGE COMPANY 1 7.13% $13,531
Shamrock Home Loans, Inc. 1 5.63% $9,383
Citizens Bank 1 6.63% $17,642
SUCCESS MORTGAGE PARTNERS, INC. 1 6.99% $11,802
Summit Mortgage Corporation 1 6.25% $12,029
Century Mortgage Company DBA Century Lending Company 1 5.63% $15,449
BETTER MORTGAGE CORPORATION 1 6.63% $8,223

The top Virginia Beach FHA lender as defined by loan originations is ATLANTIC BAY MORTGAGE GROUP, L.L.C., with 475 FHA loans originated. Their average total fees are $11,638, which is $423 lower than the next largest lender, AMERICAN NEIGHBORHOOD MORTGAGE ACCEPTANCE COMPANY LLC.

The lowest fee Virginia Beach FHA lenders (with over 10 loans originated) are Mortgage Research Center, LLC ($7,272), Virginia Credit Union, Inc. ($8,078), Truist ($8,469), HOMESPIRE MORTGAGE CORPORATION ($8,609) and CAPITAL CENTER, L.L.C. ($8,715).

The lowest rate Virginia Beach FHA lenders (with over 10 loans originated) are DHI MORTGAGE COMPANY, LTD. (5.14%), JOHNSON MORTGAGE COMPANY, L.L.C. (5.67%), PLANET HOME LENDING, LLC (5.71%), NVR Mortgage Finance, Inc. (5.73%) and LOANPAL, LLC (5.83%).

Virginia Beach FHA Loan Limits

Metro County Year Single Family Limit 2 Family Limit 3 Family Limit 4 Family Limit
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC CAMDEN 2022 $488,750 $625,700 $756,300 $939,900
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC CURRITUCK 2022 $488,750 $625,700 $756,300 $939,900
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC GATES 2022 $488,750 $625,700 $756,300 $939,900
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC GLOUCESTER 2022 $488,750 $625,700 $756,300 $939,900
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC ISLE OF WIGHT 2022 $488,750 $625,700 $756,300 $939,900
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC JAMES CITY 2022 $488,750 $625,700 $756,300 $939,900
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC MATHEWS 2022 $488,750 $625,700 $756,300 $939,900
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC SOUTHAMPTON 2022 $488,750 $625,700 $756,300 $939,900
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC YORK 2022 $488,750 $625,700 $756,300 $939,900
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC CHESAPEAKE CITY 2022 $488,750 $625,700 $756,300 $939,900
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC FRANKLIN CITY 2022 $488,750 $625,700 $756,300 $939,900
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC HAMPTON CITY 2022 $488,750 $625,700 $756,300 $939,900
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC NEWPORT NEWS CI 2022 $488,750 $625,700 $756,300 $939,900
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC NORFOLK CITY 2022 $488,750 $625,700 $756,300 $939,900
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC POQUOSON CITY 2022 $488,750 $625,700 $756,300 $939,900
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC PORTSMOUTH CITY 2022 $488,750 $625,700 $756,300 $939,900
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC SUFFOLK CITY 2022 $488,750 $625,700 $756,300 $939,900
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC VIRGINIA BEACH 2022 $488,750 $625,700 $756,300 $939,900
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC WILLIAMSBURG CI 2022 $488,750 $625,700 $756,300 $939,900
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC CAMDEN 2023 $507,150 $649,250 $784,800 $975,300
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC CURRITUCK 2023 $507,150 $649,250 $784,800 $975,300
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC GATES 2023 $507,150 $649,250 $784,800 $975,300
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC GLOUCESTER 2023 $507,150 $649,250 $784,800 $975,300
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC ISLE OF WIGHT 2023 $507,150 $649,250 $784,800 $975,300
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC JAMES CITY 2023 $507,150 $649,250 $784,800 $975,300
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC MATHEWS 2023 $507,150 $649,250 $784,800 $975,300
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC SOUTHAMPTON 2023 $507,150 $649,250 $784,800 $975,300
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC YORK 2023 $507,150 $649,250 $784,800 $975,300
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC CHESAPEAKE CITY 2023 $507,150 $649,250 $784,800 $975,300
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC FRANKLIN CITY 2023 $507,150 $649,250 $784,800 $975,300
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC HAMPTON CITY 2023 $507,150 $649,250 $784,800 $975,300
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC NEWPORT NEWS CI 2023 $507,150 $649,250 $784,800 $975,300
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC NORFOLK CITY 2023 $507,150 $649,250 $784,800 $975,300
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC POQUOSON CITY 2023 $507,150 $649,250 $784,800 $975,300
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC PORTSMOUTH CITY 2023 $507,150 $649,250 $784,800 $975,300
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC SUFFOLK CITY 2023 $507,150 $649,250 $784,800 $975,300
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC VIRGINIA BEACH 2023 $507,150 $649,250 $784,800 $975,300
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC WILLIAMSBURG CI 2023 $507,150 $649,250 $784,800 $975,300

Market Conditions (Median, Average Prices & Listing Count)

Realtor.com - Virginia Beach (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Price (YoY Change) Average Listing Price (YoY) MSA/US Median Price Ratio Active Listings
2018-01-01 $259,950 (4.0%) $339,419 (4.2%) 0.96 9,291
2018-02-01 $259,949 (4.0%) $337,864 (3.7%) 0.94 9,440
2018-03-01 $268,000 (4.3%) $341,532 (3.0%) 0.94 9,748
2018-04-01 $270,973 (3.1%) $347,750 (2.9%) 0.92 10,134
2018-05-01 $275,000 (3.0%) $353,561 (3.0%) 0.92 10,364
2018-06-01 $279,900 (4.5%) $354,376 (2.8%) 0.93 10,711
2018-07-01 $277,950 (4.9%) $351,885 (3.1%) 0.93 10,856
2018-08-01 $275,450 (4.7%) $350,261 (3.3%) 0.92 10,855
2018-09-01 $275,000 (5.8%) $349,565 (3.2%) 0.92 10,622
2018-10-01 $271,125 (2.4%) $347,084 (1.2%) 0.92 10,558
2018-11-01 $269,913 (3.8%) $346,347 (1.7%) 0.92 10,200
2018-12-01 $270,000 (3.9%) $347,443 (2.3%) 0.93 9,698
2019-01-01 $274,495 (5.6%) $346,475 (2.1%) 0.95 9,192
2019-02-01 $275,000 (5.8%) $343,782 (1.8%) 0.93 8,662
2019-03-01 $281,424 (5.0%) $351,931 (3.0%) 0.92 9,013
2019-04-01 $291,995 (7.8%) $368,650 (6.0%) 0.93 9,376
2019-05-01 $295,000 (7.3%) $370,594 (4.8%) 0.92 9,881
2019-06-01 $295,000 (5.4%) $371,915 (5.0%) 0.92 9,990
2019-07-01 $295,000 (6.1%) $373,546 (6.2%) 0.92 9,822
2019-08-01 $293,539 (6.6%) $373,489 (6.6%) 0.93 9,509
2019-09-01 $291,498 (6.0%) $373,799 (6.9%) 0.93 9,119
2019-10-01 $289,906 (6.9%) $373,411 (7.6%) 0.94 8,811
2019-11-01 $290,000 (7.4%) $374,798 (8.2%) 0.95 8,323
2019-12-01 $299,000 (10.7%) $379,811 (9.3%) 1.00 7,285
2020-01-01 $295,450 (7.6%) $378,488 (9.2%) 0.99 6,791
2020-02-01 $299,000 (8.7%) $381,675 (11.0%) 0.98 6,855
2020-03-01 $299,945 (6.6%) $382,600 (8.7%) 0.94 6,993
2020-04-01 $302,450 (3.6%) $384,999 (4.4%) 0.95 6,975
2020-05-01 $311,270 (5.5%) $394,147 (6.4%) 0.95 6,720
2020-06-01 $319,950 (8.5%) $405,908 (9.1%) 0.94 6,173
2020-07-01 $323,612 (9.7%) $406,848 (8.9%) 0.94 5,868
2020-08-01 $324,900 (10.7%) $412,834 (10.5%) 0.93 5,315
2020-09-01 $319,950 (9.8%) $409,537 (9.6%) 0.92 5,071
2020-10-01 $309,900 (6.9%) $407,696 (9.2%) 0.89 4,794
2020-11-01 $304,023 (4.8%) $407,979 (8.9%) 0.89 4,642
2020-12-01 $299,700 (0.2%) $401,424 (5.7%) 0.89 4,198
2021-01-01 $299,900 (1.5%) $399,836 (5.6%) 0.90 3,750
2021-02-01 $299,900 (0.3%) $403,108 (5.6%) 0.87 3,491
2021-03-01 $299,995 (0.0%) $404,401 (5.7%) 0.85 3,320
2021-04-01 $305,000 (0.8%) $402,911 (4.7%) 0.83 3,501
2021-05-01 $305,000 (-2.0%) $410,598 (4.2%) 0.81 3,567
2021-06-01 $305,000 (-4.7%) $409,582 (0.9%) 0.80 3,861
2021-07-01 $305,000 (-5.8%) $407,657 (0.2%) 0.80 4,133
2021-08-01 $299,900 (-7.7%) $407,012 (-1.4%) 0.80 4,332
2021-09-01 $300,000 (-6.2%) $413,111 (0.9%) 0.80 4,250
2021-10-01 $300,000 (-3.2%) $414,569 (1.7%) 0.80 4,008
2021-11-01 $300,000 (-1.3%) $411,152 (0.8%) 0.80 3,652
2021-12-01 $302,450 (0.9%) $411,186 (2.4%) 0.82 3,102
2022-01-01 $312,250 (4.1%) $420,688 (5.2%) 0.84 2,541
2022-02-01 $319,450 (6.5%) $421,048 (4.5%) 0.83 2,271
2022-03-01 $327,000 (9.0%) $431,180 (6.6%) 0.82 2,232
2022-04-01 $339,500 (11.3%) $444,919 (10.4%) 0.81 2,377
2022-05-01 $349,998 (14.8%) $453,803 (10.5%) 0.80 2,852
2022-06-01 $350,000 (14.8%) $459,304 (12.1%) 0.78 3,241
2022-07-01 $350,000 (14.8%) $466,969 (14.6%) 0.79 3,648
2022-08-01 $349,900 (16.7%) $465,105 (14.3%) 0.81 3,741
2022-09-01 $348,950 (16.3%) $462,051 (11.9%) 0.82 3,647
2022-10-01 $359,900 (20.0%) $470,183 (13.4%) 0.85 3,560
2022-11-01 $359,450 (19.8%) $464,858 (13.1%) 0.86 3,666
2022-12-01 $360,000 (19.0%) $463,615 (12.8%) 0.89 3,366
2023-01-01 $366,918 (17.5%) $466,278 (10.8%) 0.91 3,012
2023-02-01 $371,587 (16.3%) $469,525 (11.5%) 0.90 2,843
2023-03-01 $373,450 (14.2%) $474,770 (10.1%) 0.88 2,749
2023-04-01 $384,000 (13.1%) $489,174 (10.0%) 0.89 2,776
2023-05-01 $386,950 (10.6%) $499,832 (10.1%) 0.88 2,778
2023-06-01 $395,000 (12.9%) $517,611 (12.7%) 0.89 2,929
2023-07-01 $394,900 (12.8%) $512,143 (9.7%) 0.90 3,056
2023-08-01 $383,600 (9.6%) $499,842 (7.5%) 0.88 3,694
2023-09-01 $379,500 (8.8%) $495,508 (7.2%) 0.88 3,556
2023-10-01 $374,450 (4.0%) $477,415 (1.5%) 0.88 3,487
2023-11-01 $377,000 (4.9%) $479,796 (3.2%) 0.90 3,623
2023-12-01 $375,000 (4.2%) $478,951 (3.3%) 0.91 3,492
2024-01-01 $375,000 (2.2%) $482,465 (3.5%) 0.92 3,141
2024-02-01 $384,504 (3.5%) $491,606 (4.7%) 0.93 3,106
2024-03-01 $391,410 (4.8%) $512,736 (8.0%) 0.92 3,142
Virginia Beach's median listing price for 2024-03-01 was $391,410, a difference of $17,960 (4.8%) versus the prior year and $6,906 versus the prior month.

Virginia Beach's median listing price comes in at 92% of the national average.

Virginia Beach's average listing price for 2024-03-01 was $512,736, a difference of $37,966 (8.0%) versus the prior year and $21,130 versus the prior month.

For the 2024-03-01 period, Virginia Beach had 3,142 MLS listings, a difference of 36 listings (1%) versus the prior month and 393 listings (14%) versus the prior year.

Median Listing Time on Market & Square Footage

Realtor.com - Virginia Beach (CBSA) retrieved from FRED, Federal Reserve Bank of St. Louis
Date Median Listing Time on Market Median Square Footage
2018-01-01 78 days 1,948 sqft
2018-02-01 67 days 1,940 sqft
2018-03-01 51 days 1,968 sqft
2018-04-01 47 days 1,994 sqft
2018-05-01 46 days 2,000 sqft
2018-06-01 47 days 2,000 sqft
2018-07-01 52 days 2,000 sqft
2018-08-01 57 days 1,999 sqft
2018-09-01 59 days 2,000 sqft
2018-10-01 61 days 1,980 sqft
2018-11-01 62 days 1,979 sqft
2018-12-01 70 days 1,975 sqft
2019-01-01 72 days 1,972 sqft
2019-02-01 63 days 1,984 sqft
2019-03-01 48 days 2,004 sqft
2019-04-01 43 days 2,033 sqft
2019-05-01 43 days 2,035 sqft
2019-06-01 45 days 2,038 sqft
2019-07-01 52 days 2,021 sqft
2019-08-01 54 days 2,005 sqft
2019-09-01 56 days 2,002 sqft
2019-10-01 57 days 2,000 sqft
2019-11-01 59 days 2,001 sqft
2019-12-01 66 days 2,023 sqft
2020-01-01 70 days 2,001 sqft
2020-02-01 50 days 2,001 sqft
2020-03-01 44 days 2,028 sqft
2020-04-01 48 days 2,035 sqft
2020-05-01 53 days 2,053 sqft
2020-06-01 48 days 2,073 sqft
2020-07-01 42 days 2,053 sqft
2020-08-01 38 days 2,050 sqft
2020-09-01 38 days 2,012 sqft
2020-10-01 39 days 1,974 sqft
2020-11-01 39 days 1,936 sqft
2020-12-01 45 days 1,899 sqft
2021-01-01 46 days 1,876 sqft
2021-02-01 35 days 1,843 sqft
2021-03-01 29 days 1,860 sqft
2021-04-01 26 days 1,871 sqft
2021-05-01 23 days 1,867 sqft
2021-06-01 25 days 1,856 sqft
2021-07-01 26 days 1,824 sqft
2021-08-01 28 days 1,800 sqft
2021-09-01 31 days 1,800 sqft
2021-10-01 31 days 1,800 sqft
2021-11-01 32 days 1,769 sqft
2021-12-01 37 days 1,779 sqft
2022-01-01 40 days 1,800 sqft
2022-02-01 26 days 1,800 sqft
2022-03-01 22 days 1,821 sqft
2022-04-01 19 days 1,855 sqft
2022-05-01 21 days 1,887 sqft
2022-06-01 23 days 1,900 sqft
2022-07-01 26 days 1,904 sqft
2022-08-01 33 days 1,916 sqft
2022-09-01 37 days 1,908 sqft
2022-10-01 37 days 1,944 sqft
2022-11-01 39 days 1,945 sqft
2022-12-01 49 days 1,943 sqft
2023-01-01 52 days 1,949 sqft
2023-02-01 38 days 1,952 sqft
2023-03-01 38 days 1,965 sqft
2023-04-01 30 days 2,000 sqft
2023-05-01 29 days 2,008 sqft
2023-06-01 29 days 2,027 sqft
2023-07-01 33 days 2,005 sqft
2023-08-01 31 days 1,961 sqft
2023-09-01 36 days 1,971 sqft
2023-10-01 39 days 1,927 sqft
2023-11-01 38 days 1,941 sqft
2023-12-01 45 days 1,938 sqft
2024-01-01 50 days 1,921 sqft
2024-02-01 36 days 1,934 sqft
2024-03-01 34 days 1,953 sqft
Virginia Beach's median listing age (time on market) for 2024-03-01 was 34 days. This is -11% shorter than the same period one year ago.

Virginia Beach's median square footage for active listings during the 2024-03-01 period was 1,953 sqft. One year prior, the average listing was 1,965 sqft.

FHA Loan Requirements

  • Borrowers must have a steady employment history or worked for the same employer for the past two years.
  • Borrowers must have a valid Social Security number, lawful residency in the U.S. and be of legal age to sign a mortgage in your state.
  • Borrowers must pay a minimum down payment of 3.5 percent. The money may be gifted by a family member. (Traditional mortgages do not permit gifted down payments)
  • New FHA loans are only available for primary residence occupancy.
  • Borrowers must have a property appraisal from a FHA-approved appraiser.
  • Borrowers’ front-end ratio (mortgage payment plus HOA fees, property taxes, mortgage insurance, homeowners insurance) needs to be less than 31 percent of their gross income, typically. You may be able to get approved with as high a percentage as 40 percent. Your lender will be required to provide justification as to why they believe the mortgage presents an acceptable risk. The lender must include any compensating factors used for loan approval.
  • Borrowers’ debt to income ratio (mortgage plus all your monthly debt, i.e., credit card payment, car payment, student loans, etc.) needs to be less than 43 percent of their gross income, typically. You may be able to get approved with as high a percentage as 50 percent.
  • Borrowers must have a minimum credit score of 580 for maximum financing with a minimum down payment of 3.5 percent.
  • Borrowers must have a minimum credit score of 500-579 for maximum LTV of 90 percent with a minimum down payment of 10 percent.
  • Bborrowers must be two years out of bankruptcy and have re-established good credit. Exceptions can be made.
  • Typically borrowers must be three years out of foreclosure and have re-established good credit.
  • The purchased property must meet certain minimum standards at appraisal. If the home you are purchasing does not meet these standards and a seller will not agree to the required repairs, your only option is to pay for the required repairs at closing (to be held in escrow until the repairs are complete).