Virginia USDA Loans

What are Virginia USDA Home Loans?

USDA stands for United States Department of Agriculture. A USDA Mortgage provides a low-cost insured home mortgage loan that suits a variety of options. A USDA mortgage is likely the best home loan option if you want to purchase a home with no down payment. If you’re unsure about your credit rating, or have concerns about a down payment when you’re doing a home loan comparison, USDA Rural Mortgage Loans can give you piece of mind with zero-down, super low closing costs and low monthly mortgage insurance.

What RD loan types does USDA offer in Virginia?

Currently, there are two kinds of USDA Home Loans available in Virginia for single family households:

USDA Guaranteed Rural Development Loans

USDA Guaranteed Home Mortgage Loans are the most common type of USDA Loan in Virginia and allow for higher income limits and 100% financing for home purchases. USDA Guaranteed Loan applicants may have an income of up to 115% of the median household income for the area. Area income limits for this program can be viewed here. All USDA Guaranteed Loans carry 30 year terms and are set at a fixed rate.

USDA Direct Rural Development Loans

USDA Direct Housing Loans are less common than USDA Guaranteed Loans and are only available for low and very low income households to obtain homeownership, as defined by the USDA. Very low income is defined as below 50 percent of the area median income (AMI); low income is between 50 and 80 percent of AMI; moderate income is 80 to 100 percent of AMI. Click here to see area income limits for this program.

What factors determine if I am eligible for a USDA Loan in Virginia?

To be eligible for A USDA Rural Loan in Virginia, your monthly housing costs (mortgage principal and interest, property taxes, and insurance) must meet a specified percentage of your gross monthly income (29% ratio). Your credit background will be fairly considered. A 620 FICO credit score is required to obtain a USDA Rural Housing Loan approval through most lenders. You must also have enough income to pay your housing costs plus all additional monthly debt (41% ratio). These ratios can be exceeded somewhat with compensating factors. Applicants for loans may have an income of up to 115% of the median income for the area. Maximum USDA Guaranteed Loan income limits for your area can be found at here. Maximum USDA Direct Loan income limits for your area can be found at here. Families must be without adequate housing, but be able to afford the mortgage payments, including taxes and insurance.

How much can I borrow?

The maximum amount for an USDA home loan is determined by:

Maximum Loan Amount: The is no set maximum loan amount allowed for USDA Rural Home Loans. Instead, your debt-to-income ratios will dictate how much home your can afford (29/41 ratios). Additionally, your total household monthly income must be within USDA allowed maximum income limits for your area. Maximum USDA Guaranteed Loan income limits for your area can be found at here.

Maximum financing: The maximum USDA Rural Development Loan amount is 102% of the appraised value of the home (100% plus the 2% USDA RD Loan guarantee fee).

How much money will I need for the down payment and closing costs?

USDA Rural Development Mortgage Loans require no down payment and they allow for the closing costs to be included in the loan amount (appraisal permitting).

What property types are allowed for USDA Rural Loans?

While USDA Mortgage Guidelines do require that the property be Owner Occupied (OO), they do allow you to purchase condos, planned unit developments, manufactured homes, and single family residences.

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Virginia USDA Loan Adjusted Maximum Income Limits by County
Updated 05/01/2012

County Name
1-4 Person Households
(Guaranteed Loans)
5-8 Person Households 
(Guaranteed Loans)
NON-METRO
ACCOMACK
$73,600
$97,150
CHARLOTTESVILLE, VA (MSA)
ALBEMARLE
$83,750
$110,550
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METRO
ALEXANDRIA
$92,000
$121,450
NON-METRO
ALLEGHANY
$73,600
$97,150
RICHMOND, VA (MSA)
AMELIA
$84,150
$111,100
LYNCHBURG, VA (MSA)
AMHERST
$73,600
$97,150
LYNCHBURG, VA (MSA)
APPOMATTOX
$73,600
$97,150
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METRO
ARLINGTON
$92,000
$121,450
STAUNTON-WAYNESBORO, VA (MICRO)
AUGUSTA
$73,600
$97,150
NON-METRO
BATH
$73,600
$97,150
LYNCHBURG, VA (MSA)
BEDFORD
$73,600
$97,150
LYNCHBURG, VA (MSA)
BEDFORD IND
$73,600
$97,150
NON-METRO
BLAND
$73,600
$97,150
ROANOKE, VA (MSA)
BOTETOURT
$73,600
$97,150
KINGSPORT-BRISTOL-BRISTOL, TN-VA (MSA)
BRISTOL
$73,600
$97,150
NON-METRO
BRUNSWICK
$73,600
$97,150
NON-METRO
BUCHANAN
$73,600
$97,150
NON-METRO
BUCKINGHAM
$73,600
$97,150
NON-METRO
BUENA VISTA
$73,600
$97,150
LYNCHBURG, VA (MSA)
CAMPBELL
$73,600
$97,150
RICHMOND, VA (MSA)
CAROLINE
$84,150
$111,100
NON-METRO
CARROLL
$73,600
$97,150
RICHMOND, VA (MSA)
CHARLES CITY
$84,150
$111,100
NON-METRO
CHARLOTTE
$73,600
$97,150
CHARLOTTESVILLE, VA (MSA)
CHARLOTTESVILLE
$83,750
$110,550
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (MSA)
CHESAPEAKE
$78,050
$103,050
RICHMOND, VA (MSA)
CHESTERFIELD
$84,150
$111,100
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METRO
CLARKE
$92,000
$121,450
NON-METRO
CLIFTON FORGE
$73,600
$97,150
RICHMOND, VA (MSA)
COLONIAL HEIGHT
$84,150
$111,100
NON-METRO
COVINGTON
$73,600
$97,150
ROANOKE, VA (MSA)
CRAIG
$73,600
$97,150
CULPEPER, VA (MICRO)
CULPEPER
$73,600
$97,150
RICHMOND, VA (MSA)
CUMBERLAND
$84,150
$111,100
DANVILLE, VA (MSA)
DANVILLE
$73,600
$97,150
NON-METRO
DICKENSON
$73,600
$97,150
RICHMOND, VA (MSA)
DINWIDDIE
$84,150
$111,100
NON-METRO
EMPORIA
$73,600
$97,150
NON-METRO
ESSEX
$73,600
$97,150
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METRO
FAIRFAX
$92,000
$121,450
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METRO
FAIRFAX IND
$92,000
$121,450
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METRO
FALLS CHURCH
$92,000
$121,450
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METRO
FAUQUIER
$92,000
$121,450
NON-METRO
FLOYD
$73,600
$97,150
CHARLOTTESVILLE, VA (MSA)
FLUVANNA
$83,750
$110,550
ROANOKE, VA (MSA)
FRANKLIN
$73,600
$97,150
NON-METRO
FRANKLIN IND
$73,600
$97,150
WINCHESTER, VA-WV (MSA)
FREDERICK
$73,600
$97,150
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METRO
FREDERICKSBURG
$92,000
$121,450
NON-METRO
GALAX
$73,600
$97,150
BLACKSBURG-CHRISTIANSBURG-RADFORD, VA (MSA)
GILES
$75,100
$99,150
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (MSA)
GLOUCESTER
$78,050
$103,050
RICHMOND, VA (MSA)
GOOCHLAND
$84,150
$111,100
NON-METRO
GRAYSON
$73,600
$97,150
CHARLOTTESVILLE, VA (MSA)
GREENE
$83,750
$110,550
NON-METRO
GREENSVILLE
$73,600
$97,150
NON-METRO
HALIFAX
$73,600
$97,150
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (MSA)
HAMPTON
$78,050
$103,050
RICHMOND, VA (MSA)
HANOVER
$84,150
$111,100
HARRISONBURG, VA (MSA)
HARRISONBURG
$73,600
$97,150
RICHMOND, VA (MSA)
HENRICO
$84,150
$111,100
MARTINSVILLE, VA (MICRO)
HENRY
$73,600
$97,150
NON-METRO
HIGHLAND
$73,600
$97,150
RICHMOND, VA (MSA)
HOPEWELL
$84,150
$111,100
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (MSA)
ISLE OF WIGHT
$78,050
$103,050
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (MSA)
JAMES CITY
$78,050
$103,050
RICHMOND, VA (MSA)
KING AND QUEEN
$84,150
$111,100
NON-METRO
KING GEORGE
$88,400
$116,700
RICHMOND, VA (MSA)
KING WILLIAM
$84,150
$111,100
NON-METRO
LANCASTER
$73,600
$97,150
NON-METRO
LEE
$73,600
$97,150
NON-METRO
LEXINGTON
$73,600
$97,150
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METRO
LOUDOUN
$92,000
$121,450
RICHMOND, VA (MSA)
LOUISA
$84,150
$111,100
NON-METRO
LUNENBURG
$73,600
$97,150
LYNCHBURG, VA (MSA)
LYNCHBURG
$73,600
$97,150
NON-METRO
MADISON
$73,600
$97,150
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METRO
MANASSAS
$92,000
$121,450
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METRO
MANASSAS PARK
$92,000
$121,450
MARTINSVILLE, VA (MICRO)
MARTINSVILLE
$73,600
$97,150
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (MSA)
MATHEWS
$78,050
$103,050
NON-METRO
MECKLENBURG
$73,600
$97,150
NON-METRO
MIDDLESEX
$73,600
$97,150
BLACKSBURG-CHRISTIANSBURG-RADFORD, VA (MSA)
MONTGOMERY
$75,100
$99,150
CHARLOTTESVILLE, VA (MSA)
NELSON
$83,750
$110,550
RICHMOND, VA (MSA)
NEW KENT
$84,150
$111,100
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (MSA)
NEWPORT NEWS
$78,050
$103,050
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (MSA)
NORFOLK
$78,050
$103,050
NON-METRO
NORTHAMPTON
$73,600
$97,150
NON-METRO
NORTHUMBERLAND
$76,850
$101,450
NON-METRO
NORTON
$73,600
$97,150
NON-METRO
NOTTOWAY
$73,600
$97,150
NON-METRO
ORANGE
$73,600
$97,150
NON-METRO
PAGE
$73,600
$97,150
NON-METRO
PATRICK
$73,600
$97,150
RICHMOND, VA (MSA)
PETERSBURG
$84,150
$111,100
DANVILLE, VA (MSA)
PITTSYLVANIA
$73,600
$97,150
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (MSA)
POQUOSON
$78,050
$103,050
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (MSA)
PORTSMOUTH
$78,050
$103,050
RICHMOND, VA (MSA)
POWHATAN
$84,150
$111,100
NON-METRO
PRINCE EDWARD
$73,600
$97,150
RICHMOND, VA (MSA)
PRINCE GEORGE
$84,150
$111,100
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METRO
PRINCE WILLIAM
$92,000
$121,450
BLACKSBURG-CHRISTIANSBURG-RADFORD, VA (MSA)
PULASKI
$75,100
$99,150
BLACKSBURG-CHRISTIANSBURG-RADFORD, VA (MSA)
RADFORD
$75,100
$99,150
NON-METRO
RAPPAHANNOCK
$73,600
$97,150
NON-METRO
RICHMOND
$73,600
$97,150
RICHMOND, VA (MSA)
RICHMOND IND
$84,150
$111,100
ROANOKE, VA (MSA)
ROANOKE
$73,600
$97,150
ROANOKE, VA (MSA)
ROANOKE IND
$73,600
$97,150
NON-METRO
ROCKBRIDGE
$73,600
$97,150
HARRISONBURG, VA (MSA)
ROCKINGHAM
$73,600
$97,150
NON-METRO
RUSSELL
$73,600
$97,150
ROANOKE, VA (MSA)
SALEM
$73,600
$97,150
KINGSPORT-BRISTOL-BRISTOL, TN-VA (MSA)
SCOTT
$73,600
$97,150
NON-METRO
SHENANDOAH
$73,600
$97,150
NON-METRO
SMYTH
$73,600
$97,150
NON-METRO
SOUTHAMPTON
$73,600
$97,150
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METRO
SPOTSYLVANIA
$92,000
$121,450
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METRO
STAFFORD
$92,000
$121,450
STAUNTON-WAYNESBORO, VA (MICRO)
STAUNTON
$73,600
$97,150
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (MSA)
SUFFOLK
$78,050
$103,050
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (MSA)
SURRY
$78,050
$103,050
RICHMOND, VA (MSA)
SUSSEX
$84,150
$111,100
BLUEFIELD, WV-VA (MICRO)
TAZEWELL
$73,600
$97,150
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (MSA)
VIRGINIA BEACH
$78,050
$103,050
WASHINGTON-ARLINGTON-ALEXANDRIA, DC-VA-MD-WV METRO
WARREN
$92,000
$121,450
KINGSPORT-BRISTOL-BRISTOL, TN-VA (MSA)
WASHINGTON
$73,600
$121,450
STAUNTON-WAYNESBORO, VA (MICRO)
WAYNESBORO
$73,600
$97,150
NON-METRO
WESTMORELAND
$73,600
$97,150
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (MSA)
WILLIAMSBURG
$78,050
$103,050
WINCHESTER, VA-WV (MSA)
WINCHESTER
$73,600
$97,150
NON-METRO
WISE
$73,600
$97,150
NON-METRO
WYTHE
$73,600
$97,150
VIRGINIA BEACH-NORFOLK-NEWPORT NEWS, VA-NC (MSA)
YORK
$78,050
$103,050

 

USDA Loan information for Virginia’s top cities:

Alexandria Virginia USDA LoansAnnandale Virginia USDA LoansArlington Virginia USDA Loans
Burke Virginia USDA LoansChesapeake Virginia USDA LoansDale City Virginia USDA Loans
Hampton Virginia USDA LoansLynchburg Virginia USDA LoansNewport News Virginia USDA Loans
Norfolk Virginia USDA LoansPortsmouth Virginia USDA LoansReston Virginia USDA Loans
Richmond Virginia USDA LoansRoanoke Virginia USDA LoansSuffolk Virginia USDA Loans
Virginia Beach Virginia USDA Loans

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