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Virginia Beach Mortgage Rates Today

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Current Mortgage Rates in Virginia Beach

Virginia Beach housing market at a glance

September 2026 data

In Virginia Beach, homes are selling in about 39 days (7 slower than a year ago), sales are up 17.3% from last year, and about 0% of listings have had a price cut.

Median sale price
$481,275
$258 per sq. ft.
Homes sold
1,652
▲ 17.3% vs. 1,408 last year
Days on market
39
vs. 32 days last year
Homes for sale
1,676
158 new listings
Listings with a price cut
0%
8 of 1,676 listings

Source: Movoto Virginia Beach, VA market trends, September 2026. Last updated October 5, 2026.

What it costs to buy a home in Virginia Beach

Monthly payments on Virginia Beach's median home price of $481,275 (September 2026), at today's rates.

20% down · Conventional
$3,276/mo
Down payment
$96,255
Loan amount
$385,020
Rate
7.250%
Principal & interest
$2,627
Est. property tax
$313
Est. homeowners insurance
$337
5% down · Conventional
$3,769/mo
Down payment
$24,064
Loan amount
$457,211
Rate
7.250%
Principal & interest
$3,119
Est. property tax
$313
Est. homeowners insurance
$337
3.5% down · FHA
$3,754/mo
Down payment
$16,845
Loan amount
$472,558
Rate
6.875%
Principal & interest
$3,104
Est. property tax
$313
Est. homeowners insurance
$337

Payments include principal, interest, estimated Virginia Beach property taxes, and estimated homeowners insurance. They do not include mortgage insurance (PMI or FHA monthly MIP), which applies with less than 20% down, or HOA dues. The FHA loan amount includes the 1.75% upfront mortgage insurance premium. These are examples based on the median price, not the sample loan used in the rate table above.

How much income do you need to buy a home in Virginia Beach?

A common lender guideline is to keep your total housing payment (principal, interest, estimated Virginia Beach property taxes, and estimated homeowners insurance) at or below 28% of your gross monthly income. Gross income is what you earn before taxes and other deductions come out of your paycheck. Based on that guideline, here's the yearly household income needed for Virginia Beach's $481,275 median home:

20% down · Conventional$3,276/mo payment $140,421/yrabout $11,702/mo before taxes
5% down · Conventional$3,769/mo payment $161,526/yrabout $13,461/mo before taxes
3.5% down · FHA$3,754/mo payment $160,900/yrabout $13,408/mo before taxes

Why this matters: Keeping housing costs near 28% of your income leaves room for other bills, savings and the upkeep that comes with owning a home. It's a planning guideline, not a hard limit.

What lenders look at: Lenders also look at your debt-to-income (DTI) ratio, which adds your car, student loan and credit card payments to the new mortgage payment. Depending on the loan program and your credit, many lenders allow total debts of roughly 43% to 50% of gross income, so you may qualify with less income than shown, or need more if you carry other debt.

Household income counts: If you're buying with a partner or co-borrower, lenders can combine your incomes.

How rates change your payment

Principal and interest on a $385,020 loan (the Virginia Beach median price with 20% down). Every 0.25% is worth about $65/mo.

Rate6.25%6.50%6.75%7.00%7.25%
today
7.50%
Monthly P&I$2,371$2,434$2,497$2,562$2,627$2,692

Ways to make a Virginia Beach home more affordable

  • Ask for seller concessions. Homes take 39 days to sell, 7 more than last year. Sellers may cover closing costs or pay for a rate buydown.
  • Consider buying down your rate. On this example loan, a rate 0.5% lower saves about $129 a month.
  • Compare loan types. FHA rates are at 6.875% vs. 7.250% for conventional, with as little as 3.5% down. Compare by APR, including mortgage insurance.

Virginia Beach mortgage and home buying FAQs

What are mortgage rates in Virginia Beach today?

As of October 9, 2026, Lower’s 30-year fixed conventional rate in Virginia Beach is 7.250% (7.511% APR), and the 30-year FHA rate is 6.875% (7.699% APR). Your rate depends on your credit, down payment, loan type and any points you pay. See the rate table above for points and full details.

What is the monthly payment on a median-priced home in Virginia Beach?

On Virginia Beach’s $481,275 median home price (September 2026), a 30-year conventional loan with 20% down at 7.250% comes to about $3,276 a month, including principal, interest, estimated Virginia Beach property taxes, and estimated homeowners insurance. With an FHA loan and 3.5% down, it’s about $3,754 a month before monthly mortgage insurance.

How much income do I need to buy a house in Virginia Beach?

To keep housing costs at 28% of gross (pre-tax) income, you’d need a household income of about $140,421 a year to buy Virginia Beach’s $481,275 median home with 20% down, or about $160,900 with an FHA loan and 3.5% down. Lenders also consider your other debts, so the income you need may be higher or lower.

How much do I need for a down payment in Virginia Beach?

On the $481,275 median home, 20% down is $96,255, 5% down is $24,064, and the FHA minimum of 3.5% is $16,845. Putting less than 20% down usually means paying mortgage insurance. You’ll also need money for closing costs.

Is it a buyer’s or seller’s market in Virginia Beach right now?

In September 2026, Virginia Beach homes sold in about 39 days, 7 days slower than a year earlier. 1652 homes sold, up from 1408 the year before, and about 0% of the 1676 homes for sale have had a price cut.

How much does a quarter-point rate change affect payments in Virginia Beach?

On a $385,020 loan (the median Virginia Beach home with 20% down), each 0.25% change in rate moves the principal and interest payment by about $65 a month, or about $780 a year.

How much are property taxes in Virginia Beach?

Lower estimates Virginia Beach property taxes at about 0.78% of a home’s value per year. On the $481,275 median home, that’s roughly $3,754 a year, or $313 a month. Your actual bill depends on your assessed value and any exemptions.

Market data: Movoto, September 2026. Homeowners insurance estimates are based on average annual premiums in Virginia Beach from The Zebra; your quote will vary. Rates as of October 9, 2026. Examples only; not an offer of credit. Your rate and payment depend on your credit, down payment, loan type and other factors.

Loan officers in Virginia Beach, VA

Local experts who can walk you through today's Virginia Beach rates, your budget and the loan options that fit.

Joe Harris

VP of Lending

NMLS ID# 326764

Lou Atkins

Loan Originator

NMLS ID# 1964060

Mike Crowder

Sr. Loan Officer

NMLS ID# 2296914

See all Virginia Beach loan officers

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