Conventional, FHA, VA or Jumbo? Choosing a Mortgage in Northern Virginia (2026 Loan Limits)
Daniel ParkNo. 97
Updated
Key takeaways
- Northern Virginia is a high-cost area, so the 2026 conforming and FHA limit for a one-unit home is $1,249,125.
- Conventional loans can start at 3% to 5% down for qualified buyers.
- FHA loans allow 3.5% down with a 580 credit score, but carry mortgage insurance.
- VA loans offer no down payment for many eligible veterans and service members.
Choosing a loan is as important as choosing a home. The right one depends on your down payment, credit, military service and price range. Here’s a side-by-side look.
The four main loan types
| Loan | Minimum down | Best for | Watch out for |
|---|---|---|---|
| Conventional | About 3% to 5% | Good credit, steady income | Private mortgage insurance under 20% down |
| FHA | 3.5% with a 580 score | Lower credit or smaller savings | Mortgage insurance that often lasts the life of the loan |
| VA | 0% for many eligible buyers | Veterans and service members | A funding fee, unless exempt |
| Jumbo | Often 10% to 20% | Loans above the conforming limit | Stricter credit and reserve requirements |
2026 loan limits in Northern Virginia
The Federal Housing Finance Agency set the 2026 baseline conforming limit at $832,750 and the high-cost ceiling at $1,249,125 for one-unit homes. Northern Virginia counties fall in the high-cost area, so loans up to $1,249,125 can be conforming. Larger loans are jumbo loans.
Daniel’s tip: If you’re just over the limit, a slightly larger down payment can keep you in a conforming loan, which often means easier approval and better pricing.
Fixed or adjustable?
A fixed rate keeps your principal and interest payment the same for the life of the loan. An adjustable-rate mortgage starts lower and changes later. ARMs can make sense if you expect to move or refinance within a few years, but understand how high the payment could go.
Compare payments for different loan types and rates.
Frequently asked questions
Can I use down payment assistance with these loans?
Often, yes. Check the Down Payment Assistance Checker for Northern Virginia programs.
Which loan is best for a first-time buyer?
It depends on your credit and savings. Many first-time buyers compare a low-down conventional loan with FHA. A good lender will show you both side by side.
Filed under Buying a Home, Money & Mortgages
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