Question 1

What are current mortgage rates in Virginia?

Accepted Answer

As of March 2026, mortgage rates in Virginia are in line with national averages. The 30-year fixed rate ranges from 6.5% to 7.2%, the 15-year fixed from 5.9% to 6.5%, and the 5/1 ARM from 5.8% to 6.4% for borrowers with good credit (700+). The best rates (starting at 6.5% for 30-year fixed) are available to borrowers with 750+ credit scores and 20%+ down payments.

Question 2

What is the Virginia housing market like?

Accepted Answer

Virginia's Northern Virginia suburbs — Fairfax, Arlington, and Alexandria — are among the most expensive markets in the Mid-Atlantic, driven by federal government and defense contractor employment. Richmond and Virginia Beach offer significantly more affordability. The state's diverse economy and proximity to Washington D.C. keep demand elevated across most metros.

Question 3

How do I get the best mortgage rate in Virginia?

Accepted Answer

To get the best mortgage rate in Virginia, compare quotes from at least 3–5 lenders including local banks, credit unions, and online lenders. A credit score of 750 or higher, a down payment of 20% or more, and a low debt-to-income ratio will qualify you for the lowest rates. Use our Loan Finder tool to identify which loan type best fits your situation.

Mortgage Rates in Virginia Today

Current Rate Ranges in Virginia

Virginia Housing Market Overview