A Richmond buyer purchasing at the $524,225 Virginia FHA loan limits threshold with 3.5% down would start with a $505,877 base loan. After FHA’s 1.75% upfront mortgage insurance premium is financed, the loan amount becomes $514,730. At 6.25% on a 30-year fixed term, principal and interest is about $3,168 per month. At 6.75%, it rises to about $3,340 – a $172 monthly difference and $10,320 more in principal and interest over five years. If you use our preferred title company, the average additional savings is $2,000, bringing the five-year cost difference to about $12,320. You can find out exactly what you qualify for without a single point coming off your credit score through a NoTouch Credit Pull.
Duane Buziak, NMLS #1110647 | Coast2Coast Mortgage LLC, NMLS #376205
Table of Contents
- What the Virginia FHA loan limits mean
- How FHA loan math works at the limit
- Credit score, debt-to-income, and reserve rules
- Pre-qualification versus pre-approval
- Why a broker review can protect your credit
- Eight common FHA limit questions
Virginia FHA Loan Limits in Henrico and Richmond
For 2025, the one-unit FHA floor loan limit in most Virginia counties and independent cities, including Henrico County and the City of Richmond, is $524,225. That is the maximum base FHA loan amount, not the maximum home price. The figure comes from HUD Mortgagee Letter 2024-21, which published the 2025 FHA county loan limits.
That distinction matters when you are planning a purchase. FHA allows a 3.5% minimum down payment for qualified borrowers with a 580 FICO score or higher. On a $543,238 purchase, 3.5% down equals $19,013, leaving a base loan of $524,225. Your actual buying power also depends on seller concessions, appraisal results, closing costs, and whether you qualify for a no-out-of-pocket closing option or down payment assistance.
The standard FHA limit applies to a one-unit primary residence. Two-unit, three-unit, and four-unit properties have higher published limits. FHA is for owner-occupied homes, so your intended occupancy needs to match the program from the start.
Virginia FHA loan limits are not a price target. They are a program ceiling. A buyer with a lower purchase price may still choose FHA because the credit rules can be more forgiving than conventional financing, while a buyer above the limit may need a different structure or a larger down payment.
How the FHA Limit Affects Your Payment
The loan limit is only one part of the affordability equation. FHA loans carry both upfront and annual mortgage insurance. The 1.75% upfront premium is commonly financed into the loan. The annual premium is paid monthly and changes based on loan amount, loan term, and loan-to-value.
Using the worked example above, a $514,730 financed loan at 6.25% creates about $3,168 in monthly principal and interest. That is not the full housing payment. You must add annual FHA mortgage insurance, property taxes, homeowners insurance, and any homeowners association dues. A strong pre-qualification reviews those numbers before you fall in love with a payment that does not fit your actual budget.
Rate shopping matters even when the purchase price does not change. A rate difference of one-half percentage point in the example costs about $10,320 in added principal and interest during the first 60 payments. Closing costs, lender credits, and title fees matter too. Our preferred title company can save an additional $2,000 on average, which should be included when comparing total cost rather than focusing on a headline rate.
For borrowers comparing FHA with VA financing, the rule is different. A full-entitlement eligible veteran has no VA loan ceiling and may finance above county loan limits with zero down, subject to income, appraisal, and credit approval. Review the official VA loan-limit guidance before assuming an FHA ceiling applies to a VA purchase.
FHA Approval Numbers That Actually Matter
FHA’s minimum FICO score is 580 for a 3.5% down payment. Borrowers with scores from 500 through 579 require 10% down under FHA rules. A 500 score does not guarantee approval, but it means the FHA program can remain possible when a conventional option may not be the right fit.
For debt-to-income ratio, FHA’s manual underwriting benchmark is 31% housing ratio and 43% total DTI. Automated underwriting may approve up to 46.9% housing ratio and 56.9% total DTI when the automated findings support it. Those are specific ceilings, not promises. Income stability, cash to close, payment history, and the overall file determine whether a higher ratio is accepted.
Reserve requirements are straightforward for a standard one-unit FHA primary residence: 0 months of reserves. For three- and four-unit properties, FHA requires 3 months of PITI reserves. PITI means principal, interest, taxes, and insurance. You may still want savings after closing even when the program does not require it. Homeownership is easier when an unexpected repair does not become a credit-card emergency.
FHA documentation standards are published in HUD Handbook 4000.1. A broker should translate those rules into a plain answer: what you can buy, what payment is realistic, and what you need to improve before making offers.
Pre-Qualification Is Not the Same as Pre-Approval
A pre-qualification is an initial review of your credit profile, income, assets, and estimated payment. It gives you a practical starting point before you make an offer. A pre-approval is a more documented review used to strengthen an offer, typically after income and asset documents have been collected and reviewed.
FreePreQuals starts with a NoTouch Credit Pull, meaning you can understand your buying power without a credit-score penalty. This is not a shortcut around underwriting. It is a smart first step for buyers who are afraid of being declined after their credit is reviewed or who want to compare options before committing.
| Comparison point | Broker soft-pull pre-qualification | Bank hard-pull pre-approval |
|---|---|---|
| Credit impact | No score impact from the initial NoTouch Credit Pull | Credit inquiry is recorded |
| Initial timeline | Often reviewed within 24 hours after information is provided | Often begins after a full application and credit inquiry |
| Program access | Access to 500+ wholesale broker options | Limited to that institution’s product menu |
| FICO floor flexibility | Can review FHA options down to 500 FICO where eligible | Rules vary by institution and overlays may be stricter |
| Best first use | Learning realistic buying power before a home search | Submitting a documented offer after choosing a path |
The phrase no hard inquiry mortgage pre-approval describes what many buyers want: clarity before a recorded inquiry. A soft pull mortgage broker can help you start there, then move to a documented pre-approval when you are ready to write an offer. A no credit hit mortgage application is especially useful when you are still comparing FHA, VA, USDA, and conventional options. Mortgage pre-qualification without credit check does not mean income, debts, and funds are ignored – it means the first credit review can be handled without reducing your score.
When FHA Is the Right Virginia Choice
FHA often fits a first-time buyer who has steady income, limited down payment funds, or a credit profile that needs a more flexible path. It may be less attractive for a buyer with a larger down payment and excellent credit, where conventional mortgage insurance could cost less over time. It depends on the actual payment, not the loan label.
A buyer near the Virginia FHA loan limits also needs to account for appraisal. FHA appraisals evaluate value and minimum property standards. A home can be priced within the limit but still require repairs before closing. That is why reviewing the property condition and financing structure early can prevent a last-minute surprise.
Schedule your free NoTouch Credit Pull pre-qualification today – serving Virginia, Florida, Tennessee, Georgia, and Washington DC. You will see a real payment target and a realistic path before you risk your score or waste weekends touring homes outside your budget.
Virginia FHA Loan Limits FAQ
1. What is the 2025 FHA loan limit in Henrico County, Virginia?
The 2025 one-unit FHA loan limit in Henrico County is $524,225. That is the maximum base loan amount before financed upfront FHA mortgage insurance.
2. Is Richmond’s FHA limit also $524,225?
Yes, the City of Richmond has a 2025 one-unit FHA limit of $524,225. Verify the property county or city before writing an offer because limits are location-specific.
3. Can I buy above the FHA limit?
Yes, you can buy above the FHA limit if you make enough down payment to keep the base FHA loan at or below $524,225. Your income and appraisal must still support the transaction.
4. What credit score do I need for FHA in Virginia?
You need a 580 FICO score for FHA’s 3.5% down payment option. FHA permits 500 to 579 FICO with 10% down, subject to approval guidelines.
5. What is the maximum FHA debt-to-income ratio?
FHA automated underwriting can approve up to 56.9% total DTI when findings support it. Manual underwriting generally uses 31% housing and 43% total DTI benchmarks.
6. Does FHA require cash reserves?
A standard one-unit FHA primary residence requires 0 months of reserves. Three- and four-unit FHA properties require 3 months of PITI reserves.
7. Will a NoTouch Credit Pull lower my score?
No, a NoTouch Credit Pull does not lower your credit score. It allows an initial eligibility and payment review without a recorded credit inquiry.
8. Is FHA better than VA financing?
VA is usually the stronger option for an eligible borrower with full entitlement because there is no loan ceiling and zero down may be available. FHA can be an excellent alternative when VA eligibility is not available.
Legal disclaimer: Mortgage programs, rates, fees, underwriting findings, and loan limits can change without notice. Qualification is subject to credit, income, assets, occupancy, appraisal, and program requirements. This is not a commitment to lend. Coast2Coast Mortgage LLC, NMLS #376205, is an Equal Housing Lender.
The best next move is not guessing whether the $524,225 limit fits your situation. Get the numbers first, protect your score while you compare, and shop for a home with a payment you can carry confidently.
Duane Buziak, Mortgage Maestro | NMLS #1110647 | Coast2Coast Mortgage LLC NMLS #376205 | (804) 496-4522 | duane@coast2coastml.com | Licensed: VA, FL, TN, GA, DC | Equal Housing Lender.