Income and Sales Price / Loan Limits
Find exceptions to this guideline, as well as higher income and sales price / loan limits in Areas of Economic Opportunity.
The calculation of maximum household income varies depending on program type.
Available for First-time Homebuyers Only
Effective date: 8/1/2024
| Area | Grant Programs Down Payment / Closing Cost Assistance |
Standard / Bond Programs with or without Plus Second Mortgage |
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| Household Income Limit All Household Member Income |
Sales Price / Loan Limit |
Household Income Limit All Household Member Income |
Sales Price / Loan Limit |
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| 2 or Fewer People | 3 or More People | All Household Sizes | 2 or Fewer People | 3 or More People | All Household Sizes | |
| Washington Arlington Alexandria |
$141,000 | $164,000 | $750,000 | $176,000 | $205,000 | $750,000 |
| Richmond | $86,000 | $99,000 | $500,000 | $107,000 | $123,000 | $500,000 |
| Charlottesville | $84,000 | $97,000 | $475,000 | $105,000 | $121,000 | $475,000 |
| Norfolk Virginia Beach Newport News |
$84,000 | $97,000 | $475,000 | $105,000 | $121,000 | $475,000 |
| Culpeper Rappahannock Warren |
$88,000 | $103,000 | $650,000 | $110,000 | $129,000 | $650,000 |
| All Other Areas of Virginia | $80,000 | $92,000 | $450,000 | $100,000 | $115,000 | $450,000 |
Available for First-time and Repeat Homebuyers
Effective date: 8/1/2024
| Area | Expanded / Non-bond Programs with or without Plus Second Mortgage |
|
| Household Income Limit All Household Member Income |
Sales Price / Loan Limit |
|
| All Household Sizes | ||
| Washington Arlington Alexandria |
$232,000 | No sales price limit Follow GSE / insurer / guarantor requirements for loan limit |
| Richmond | $160,000 | |
| Charlottesville | ||
| Norfolk Virginia Beach Newport News |
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| Culpeper Rappahannock Warren |
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| All Other Areas of Virginia | ||
Metropolitan Statistical Area (MSA) Details
| Washington, Arlington, Alexandria | Richmond | Charlottesville | 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 | 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 | Albemarle County, Charlottesville, Fluvanna County, Greene County, Nelson County | 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 income limits apply to all Virginia Housing loans.
- Loan amounts that include financed guaranty fees or mortgage insurance premiums plus a Virginia Housing second mortgage, if applicable, cannot exceed Virginia Housing’s sales price limits.
- Conventional loans follow maximum conforming loan limits. High-cost loan limits do not apply.
- If the jurisdiction is not listed in one of the applicable areas, follow the limits for All Other Areas of Virginia.
- Please check with your Virginia Housing-approved lender to verify income, sales price and loan limits for your purchase.
For applications before 8/1/2024, review 2023 Income and Sales Price / Loan Limits.
Get in touch with Virginia Housing
Toll free: 877-834-2123Local: 804-782-1986
Homeownership@VirginiaHousing.com