Virginia Refinance Rates & Programs 2026

Virginia's strong economy and proximity to DC create a robust housing market. From Northern Virginia to Richmond and Virginia Beach, here's what you need to know about refinancing in the Old Dominion.

Current Virginia Refinance Rates

| Loan Type | Average Rate | |-----------|--------------| | 30-Year Fixed | 6.22% | | 15-Year Fixed | 5.54% | | FHA 30-Year | 6.17% | | VA 30-Year | 5.50% |

Northern Virginia may see higher loan amounts. Use our refinance calculator.

Virginia-Specific Programs

Virginia Housing Development Authority (VHDA)

• VHDA home loan programs
• If you used VHDA assistance, check subordination before refinancing
• Mortgage Credit Certificates available

High-Cost Counties

Northern Virginia counties (Arlington, Fairfax, Loudoun) have higher conforming limits due to expensive real estate near DC.

USDA Refinancing

Rural Virginia counties qualify for USDA loans outside Northern VA, Richmond, Norfolk, and Virginia Beach.

VA Loans

Virginia has massive military presence (Pentagon, Quantico, Norfolk Naval Base, Fort Gregg-Adams, Langley AFB, and more). VA IRRRL extremely common.

Cost of Refinancing

Moderate costs:

| Cost Item | Typical Amount | |-----------|---------------| | Origination | $0 - $2,200 | | Appraisal | $450 - $700 | | Title | $700 - $1,300 | | Recording | $50 - $100 | | Total | $3,500 - $7,000 |

No state mortgage tax.

When to Refinance

Refinance if rates dropped 0.75%-1.0%, eliminate PMI, or consolidate debt. See cash-out guide.

FAQ

How long? 30-40 days. Property taxes change? No. VA property taxes vary widely by county. Credit score? 580 FHA, 620 conv, 740+ best. Keep VHDA MCC? Yes, with participating lender.

Bottom Line

VA's moderate costs and high military population make refinancing attractive when rates drop 0.75%+. VA IRRRL is especially popular.

Get quote: See rates.

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Author: Bill McCoy, 15 years experience.