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Loan Limits for Northern Virginia

By Doug Francis

Maximum Mortgage Loan Limits for Northern Virg...UPDATE Loan limits for Northern Virginia in 2022 ~

Original Article: Relocation home buyers are typically surprised to learn that Northern Virginia has maximum conforming mortgage loan limits that are higher than most regions of the United States. Northern Virginia real estate ranks as “expensive” considering the region has some of the wealthiest counties in the U.S. In fact, these limits do vary region by region across the country and it is essential that you contact your local mortgage lender for the max limit in your neck of the woods.

Mortgage Loan Limits for Northern Virginia for 2022

  • Conforming limit in the DC market is $970,800
  • FHA Loan Limit is $970,800
  • VA loan limit  – As of January 1, 2020, there are no limits anymore on VA loans

NOTE: Doug Francis does not originate mortgage loans

Of course, it is important to remember that you need to financially qualify for any mortgage loan that you are interested in pursuing, and you will need good credit. Understanding your FICO Score starts with knowing what your score is because your interest rate will be 100% dependent on that number. It seems amazing that someone 20 points above you may get a rate that you would kill must beg for.

Remember that FHA mortgage loans allow for 3.5% down payments for applicants with good credit, and these loans do carry monthly insurance.

Mortgage financing is just one part of buying a home, but is essential when determining what price range or potential locations for your desired home. You will need to make some hard choices and some of my real estate clients have worked for months to get their financial house in order so they could buy a home in a particular location.

The CFPB has also imposed delivery requirements making YOU responsible for receiving disclosure documents.

If you need to work on your home buying plan for 2022 then you should start with a thorough review of your credit report which you can do online.

If you want to start searching for Vienna real estate or anywhere in Northern Virginia then I can set up an excellent search page just for you.

Filed Under: Blog, Home Buyer Tips Tagged With: 22180, home buyer, mortgage, Northern Virginia, real estate

About Doug Francis

A seasoned Realtor specializing in unique and new homes around Vienna, Virginia, Doug has seen consumer behavior, negotiations and communication styles change. At his original brokerage, he was the first agent to add an email address. Imagine! Outside real estate, he plays tennis, is a Washington Capitals fan, spends time with Skipper (his dog), and enjoys the restaurant scene in the DCA. He's a Boston University graduate who feels morning coffee is non-negotiable.

Vienna real estate agent Doug Francis

When we bought our house in Vienna, we were thinking about raising the kids, building an addition, and knowing the neighbors. Today, home buyers are attracted to Vienna because of the sense of community, walkability, and small town lifestyle.

So, what’s next after your 25 years? It’s a conversation many of my clients are having with me as they plan to move to the beach, travel, or get closer to grandkids. Helping them see their future, sell their current home, and move ahead with their updated plan has been an interesting new chapter.

My background: I am an active licensed agent in Virginia, have negotiated hundreds of sales contracts, work at TTR Sotheby’s International Realty in McLean, and still sell homes in all price ranges. I donate to the Town of Vienna tree replacement fund, participate in a neighborhood citizens association, and try my best to stay in shape.

Let’s discuss your moving plans: Email doug@dougfrancis.com or call me at (703) 304-6827 .  Cheers!

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About Doug Francis

I am a Realtor with TTR Sotheby's International Realty® just outside Washington D.C. in Northern Virginia. I'm licensed in Virginia with a focus on Vienna, VA real estate since 1991.

That deep knowledge is valuable, especially in today's fast-paced market where advice is critical. Although many of my clients are personally referred, I am available to help you too and am accepting new clients right now.

Feel free to contact me at 703-304-6827 or email me at doug@dougfrancis.com anytime!

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Doug: (703) 304-6827

TTR Sotheby's International Realty
6723 Whittier Avenue McLean, VA 22101

Office: 703-319-3344
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