FHA Loans in Richmond, VA
Looking for a fha loan near Richmond, VA? Harris Capital Mortgage Group is a licensed mortgage lender serving Richmond and surrounding areas. Get a free estimate — no hard credit check. NMLS# 1918223.
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FHA Loan Near Richmond, VA
Virginia has strong employment markets and diverse housing stock. Northern Virginia near DC commands premium pricing — our team specializes in this corridor.
Harris Capital Mortgage Group (NMLS# 1918223) is a licensed mortgage lender near Richmond, VA serving buyers throughout the VA market. Whether you're searching for a fha loan near Richmond or anywhere in VA, our loan officers know the local market and will guide you through every step of the process.
Richmond Market Snapshot
Areas within Richmond we commonly serve
Estimates are for informational purposes only and are not a loan approval or commitment to lend. Rates and terms subject to credit approval and change without notice.
Frequently Asked Questions: FHA Loan in Richmond, VA
How do I qualify for an FHA loan in Richmond, VA with a 620 credit score?
A 620 credit score qualifies you for a 3.5% down payment FHA loan in Richmond, VA. You will also need a debt-to-income ratio at or below 43%, a steady 2-year employment history, and the property must be your primary residence. Harris Capital Mortgage Group's loan officers in VA can review your full profile and confirm eligibility in minutes — no hard credit check required for an initial estimate.
What is the FHA loan limit in Richmond, VA for 2024?
The 2024 FHA loan limit in most VA counties is $498,257 for a single-family home. High-cost areas have higher limits — up to $1,149,825. Your Harris Capital loan officer will confirm the exact limit for your target property's county before you start shopping. Staying below the limit means a lower down payment and no jumbo qualification requirements.
Can I buy a home in Richmond with no money down if I have an FHA loan?
FHA loans require a minimum 3.5% down payment — they are not zero-down loans. However, the down payment can come from down payment assistance programs in VA, a gift from a family member, or local grant programs. Our loan officers know every active DPA program in Richmond and can tell you whether you qualify for a grant or second mortgage that effectively reduces your out-of-pocket to near zero.
FHA Loan, Common Questions
What is the minimum down payment for an FHA loan?
FHA loans allow down payments as low as 3.5% for borrowers with a credit score of 580 or higher. Scores between 500–579 require 10% down.
Does FHA require mortgage insurance?
Yes. FHA loans require an upfront MIP (1.75% of the loan amount) and an annual MIP paid monthly. For most loans, MIP continues for the life of the loan.
What credit score do I need for FHA?
Most FHA lenders require a minimum score of 580 for 3.5% down. Harris Capital will review your full profile to find the best available path.