Virginia Conventional Loan Without the Marketing Pitch
Real math on a Virginia Conventional Loan: 3% down for qualified buyers, conforming limits applied honestly, PMI structure modeled to your file. No marketing pitch, just numbers that hold up.
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Why a Conventional Loan Works for Virginia Buyers
3 Percent Down for Qualified Virginia Buyers
Qualified buyers can get in at 3% through HomeReady or Home Possible. We confirm eligibility honestly, then quote the realistic down payment for your file.
Virginia Conventional vs FHA Rate Math
Conventional usually wins on total cost vs FHA when credit supports it. We compare all programs honestly on your file - your numbers, not industry averages.
Why Virginia PMI Beats FHA Insurance
Less than 20% down triggers PMI, but conventional PMI ends. Auto-cancellation at 78% of original value. Earlier cancellation at 80% via appraisal.
Our Rates For You
CONV 30 Year Purchase
Rates and APR shown are based on a $350,000 loan amount, 850 credit score, primary residence, single family home, 75% loan to value ratio, and owner occupied property. Payment example assumes no other liens on the property and includes principal and interest only. Taxes, insurance, mortgage insurance, and escrow items are not included and will increase the actual payment. Rates, APR, and points are subject to change without notice and may vary based on credit profile, property type, occupancy, loan to value, loan amount, and other qualifying factors. Not all borrowers will qualify.
How a Virginia Conventional Closes, Step by Step
What Sets a Virginia Conventional Loan Apart
Conforming Limits Cover Most Virginia Files
FHFA's annual conforming limits cap most conventional loans. Limits cover most purchases today. We confirm whether your target falls inside conforming, into high-balance, or into jumbo before recommending any program.
Term and Structure Options for Virginia Files
Standard 30-year and 15-year fixed, plus ARM structures of 5/6, 7/6, and 10/6. Fixed wins long-term holds. ARM wins shorter horizons. We model both on your actual file before recommending one over the other.
Primary, Second, Investment in Virginia
Three property types qualify for conventional: primary, second home, investment. Each type has different rules. Primary starts at 3% for qualified buyers. Second home: 10% minimum. Investment: 15-25% down with rate adjustments.
$810M
18 Years
27500+
Conventional vs Other Loans
Conventional
FHA
VA
USDA
For homes beyond standard loan limits.
High value homes should not mean high stress financing. A conventional loan with jumbo options offers competitive rates, simple terms, and a clear path to purchase without compromise.
What could you afford with a conventional loan
Before you fall for a listing, see how the math feels. Use the calculator to test price, down payment, and taxes for your county. You will know what is comfortable before you schedule tours.
Real people. Real challenges. Real mortgage success.
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A Virginia Conventional Loan follows Fannie Mae or Freddie Mac guidelines (not government-backed). Private lenders fund the loan. Rates and terms tie to your credit, down payment, and DTI. Most Virginia buyers go with a 30-year fixed.
Qualified first-time buyers can put 3% down through HomeReady or Home Possible. Standard conventional asks 5% minimum. 20% down eliminates PMI. We model all the tiers - 3%, 5%, 10%, 20% - on your file before recommending.
620 is the usual conventional credit floor. Some lenders set higher overlays of 640 or 660. Below 620, FHA usually fits better. We pull credit on day one and confirm which programs work.
PMI ends automatically at 78% of original loan-to-value. Earlier removal at 80% current value via borrower-paid appraisal. Once cancelled, PMI never returns - which is FHA's biggest disadvantage on most files.
Fixed locks the rate forever; ARM starts lower then adjusts. ARM offers a lower start then adjusts after 5-10 years. Long-term plans favor fixed. Short horizons (under 7 years) often favor ARM.
The standard 2026 conforming limit is $806,500 (single-family, most counties). Loans over $806,500 hit jumbo territory with different underwriting and pricing. We confirm your loan size against the limit before quoting any rate.
Primary, second home, and investment all qualify under conventional. Primary: 3% for qualified buyers. Second home: 10% minimum. Investment: 15-25% with rate adjustments. Each type has different qualifying rules.
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Advertised offers are not guaranteed if you do not continue to meet Oxford Home Lending's criteria and other factors bearing on your creditworthiness. Rates will vary depending on your loan term, loan type, credit profile & score, down payment, qualifying ratios, and property collateral. Monthly payments do not include property taxes, property insurance, and homeowners' association dues. Since costs can vary based on a loan program, closing costs are not shown in the examples. To qualify for a mortgage, borrowers must be U.S. citizens or permanent residents, and meet Oxford Home Lending's underwriting and Investor requirements. Interest rate examples are as of 03/03/2026 and subject to change without notice. All loans are subject to underwriting or investor approval. Other restrictions may apply. This is not an offer of credit or a commitment to lend. Rate subject to change depending on time of lock.
Lower, LLC DBA Oxford Home Lending | NMLS #1124061 | www.nmlsconsumeraccess.com.
Lower, LLC | NMLS ID# 1124061 | 5950 Symphony Woods Road Suite 312 Columbia, MD 21044 | Equal Housing Opportunity | https://nmlsconsumeraccess.org/ | Not an offer of credit or commitment to make a loan; all approvals are subject to underwriting guidelines including but not limited to acceptable current credit worthiness, income history, debt ratio, etc. Loan programs & options are subject to change at any time. Rates will vary depending on your loan term, loan type, credit profile, down payment, and qualifying ratios. Rates can change daily. Some restrictions may apply. No statement herein should be construed as being made on behalf of any state or federal agency.
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