Skip to content
Purchase Mortgage Loan
Get Pre-Approved

First-time home buyer programs in Fredericksburg, VA

Quick answer

First-time buyers in Fredericksburg, VA can use 3%-down conventional loans (up to the $1,249,125 Fredericksburg city conforming limit), 3.5%-down FHA, or VA and USDA where eligible. On the $461,500 median home, 3% down is about $13,845 and the estimated payment is $3,634/month at 7.18%.

By Purchase Mortgage Loan Editorial Team Checked against official sources per our editorial standardsData last updated

Median household income: $85,368; value-to-income ratio 5.41. Fredericksburg ranks 68 by home value and 38 by population among 129 places in our VA dataset.

What does a first-time buyer loan cost on a typical Fredericksburg home?

ItemFredericksburg
Median home value (Census ACS)$461,500
Virginia median home value$360,700
Down payment (3%)$13,845
Loan amount$447,655
Estimated monthly payment (PITI + MI)$3,634
Income needed (28% / 36%)$156,000 / $122,000
Fredericksburg city 2026 conforming limit (1 unit)$1,249,125
Max purchase price at the limit$1,287,000

Rate assumption: 7.18% (Freddie Mac PMMS 30-year fixed average, week of November 5, 2026). Change it in the payment calculator.

Payment includes Virginia's 0.74% effective property tax rate (Census ACS), $1,537/yr homeowners insurance (NAIC state average) and an estimated 0.5% PMI.

What is the 2026 conforming loan limit in Fredericksburg?

Fredericksburg is in Fredericksburg city. Conventional 3%-down loans go up to the $1,249,125 conforming limit (price ≈ $1,287,000); FHA loans go up to $1,249,125.

The Fredericksburg median home value of $461,500 is 28% above the Virginia median, and within what the county limit supports.

Which down payment assistance programs can Fredericksburg buyers use?

No applicable programs have been verified for this city yet. Check the state housing finance agency for current assistance.

First-time buyer loans in nearby cities

TriangleCherry HillMontclairLeesylvaniaIndependent HillDale City

First-time buyer loan FAQs for Fredericksburg

On the $461,500 median: 3% conventional ≈ $13,845, 3.5% FHA ≈ $16,153, and 0% for eligible VA or USDA buyers. Conventional loans above $1,249,125 in Fredericksburg city become jumbo loans.

At the $461,500 median value (above the Virginia median of $360,700), the estimated payment of $3,634/month at 7.18% needs about $156,000 a year under the 28% housing guideline, or $122,000 if your total debts stay under 36%.

0 city-level, 0 county-level and 0 statewide programs are verified for this city (0 total). Check each official administrator's eligibility rules and available funds.

Sources

Data last updated October 23, 2026.

Get matched with First-time buyer lenders in Fredericksburg

Answer a few quick questions and get matched with purchase mortgage lenders in your area. Free, and it won't affect your credit score.

Get My Matches

Figures on this page are estimates for educational purposes only and are not a loan offer or commitment to lend. Rates, loan limits, fees and assistance programs change frequently and vary by lender, location and borrower profile. Confirm current terms with a licensed loan officer.