Va Homes For Sale Zillow (2024)

FAQs

Is it hard to buy a house in VA? ›

The average credit score required in Virginia is 712. Down Payment and Closing Cost Requirement: Allocate 20% of the home's sale price towards a down payment, and budget 2% to 5% for closing costs.

The months from March to June are the best time to buy a house in Virginia. This is due to the higher inventory, increased competition among sellers, and potentially lower asking prices.

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Additionally, Virginia's strong job market, coupled with its rich historical heritage and an abundance of natural beauty, makes it a particularly attractive state for potential homeowners.

$395,685. The average Virginia home value is $395,685, up 5.0% over the past year and goes to pending in around 11 days.

The U.S. Department of Veterans Affairs doesn't set a specific VA loan credit score requirement. Lenders, however, can set their own minimum requirements for a VA loan. Most require a score of at least 620, but some go as low as 500.

Down Payment

Typically, this amount ranges anywhere from 3% to 20% of the loan amount, depending on mortgage type and other factors. USDA and VA loans don't require a down payment, which is a tremendous benefit and can help homebuyers save thousands of dollars on upfront costs.

In July 2024, 40.2% of homes in Virginia sold above list price, down 7.5 points year. There were only 31.0% of homes that had price drops, up from 22.0% of homes in July last year. There was a 100.1% sale-to-list price, down 0.76 points year over year. … Homes that sold above list price likely received multiple offers.

Winter is traditionally the slowest season for home sales and, as a result, it's the cheapest time to buy a home. There's usually less competition between buyers and sellers may be more willing to negotiate to make a sale since buyer interest is lower than it is in the spring.

The answer is Virginia's restrictive zoning regulations, which impede the construction of new homes, including affordable starter homes and rental units.

FHA loans. FHA loans are government-backed loans that are popular with first-time homebuyers since they only require a 3.5% down payment and have flexible eligibility requirements.

Are VA mortgages hard to get? ›

The government guarantees these loans, so it's typically easier to qualify since there's less risk for lenders. In fact, it's possible to get a VA loan with no down payment — and you may qualify if your credit isn't strong or you've had a history of foreclosures.

Through Virginia Housing, first-time buyers can obtain a mortgage loan, a down payment grant, a mortgage credit certificate, and a free home buyer education course, all in one tidy bundle. You'll need a credit score between 620 and 680 to qualify, depending on the loan type.

VA loans offer many benefits such as no down payment or mortgage insurance, easier qualifications and lower interest rates. However, they also have drawbacks such as a required funding fee, property restrictions and potentially less equity to start.