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First-time home buyer programs in Virginia Beach, VA

Quick answer

First-time buyers in Virginia Beach, VA can use 3%-down conventional loans (up to the $832,750 Virginia Beach city conforming limit), 3.5%-down FHA, or VA and USDA where eligible. On the $366,300 median home, 3% down is about $10,989 and the estimated payment is $2,911/month at 7.18%.

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

Median household income: $90,685; value-to-income ratio 4.04. Virginia Beach ranks 85 by home value and 1 by population among 129 places in our VA dataset.

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

ItemVirginia Beach
Median home value (Census ACS)$366,300
Virginia median home value$360,700
Down payment (3%)$10,989
Loan amount$355,311
Estimated monthly payment (PITI + MI)$2,911
Income needed (28% / 36%)$125,000 / $98,000
Virginia Beach city 2026 conforming limit (1 unit)$832,750
Max purchase price at the limit$858,000

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 Virginia Beach?

Virginia Beach is in Virginia Beach city. Conventional 3%-down loans go up to the $832,750 conforming limit (price ≈ $858,000); FHA loans go up to $757,850.

The Virginia Beach median home value of $366,300 is 2% above the Virginia median, and within what the county limit supports.

Which down payment assistance programs can Virginia Beach 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

NorfolkChesapeakePortsmouthHamptonPoquosonSuffolk

First-time buyer loan FAQs for Virginia Beach

On the $366,300 median: 3% conventional ≈ $10,989, 3.5% FHA ≈ $12,821, and 0% for eligible VA or USDA buyers. Conventional loans above $832,750 in Virginia Beach city become jumbo loans.

At the $366,300 median value (close to the Virginia median of $360,700), the estimated payment of $2,911/month at 7.18% needs about $125,000 a year under the 28% housing guideline, or $98,000 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.

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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.