Mortgage Refinance Rates in Virginia (2026)
With Virginia's median value near $400,000, a homeowner refinancing a typical $272,000 balance from about 7.50% to 6.25% saves roughly $227/month — breaking even on ~$6,800 of costs near month 30.
Most Virginia owners have built real equity. A cash-out refinance can tap up to 80% of value, and a rate-and-term refinance simply lowers the payment. 5 Virginia counties are high-cost, raising the conforming ceiling there.
Refinance snapshot by Virginia county
| County | Est. Value | 2026 Conforming Limit | Tier |
|---|---|---|---|
| Fairfax County | $690,000 | $1,249,125 | High-cost |
| Prince William County | $560,000 | $1,249,125 | High-cost |
| Virginia Beach County | $360,000 | $806,500 | Baseline |
| Loudoun County | $720,000 | $1,249,125 | High-cost |
| Chesterfield County | $400,000 | $806,500 | Baseline |
| Henrico County | $360,000 | $806,500 | Baseline |
| Spotsylvania County | $400,000 | $806,500 | Baseline |
| Stafford County | $400,000 | $806,500 | Baseline |
| Albemarle County | $400,000 | $806,500 | Baseline |
| Hanover County | $400,000 | $806,500 | Baseline |
| Augusta County | $400,000 | $806,500 | Baseline |
| Roanoke County | $400,000 | $806,500 | Baseline |
| Rockingham County | $400,000 | $806,500 | Baseline |
| Bedford County | $400,000 | $806,500 | Baseline |
| Frederick County | $400,000 | $806,500 | Baseline |
| Montgomery County | $400,000 | $806,500 | Baseline |
| Campbell County | $400,000 | $806,500 | Baseline |
| Pittsylvania County | $400,000 | $806,500 | Baseline |
| Fauquier County | $400,000 | $806,500 | Baseline |
| Franklin County | $400,000 | $806,500 | Baseline |
| Washington County | $400,000 | $806,500 | Baseline |
| Tazewell County | $400,000 | $806,500 | Baseline |
| Wise County | $400,000 | $806,500 | Baseline |
| Culpeper County | $400,000 | $806,500 | Baseline |
| Accomack County | $400,000 | $806,500 | Baseline |
| Arlington County | $790,000 | $1,249,125 | High-cost |
| Alexandria County | $640,000 | $1,249,125 | High-cost |
Should you refinance in Virginia?
It comes down to your break-even. Take your closing costs (often 2-5% of the balance) and divide by your monthly savings — if you will stay in the home past that month count, refinancing usually wins. Cash-out makes sense when the rate and use of funds beat your other borrowing options.
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Frequently Asked Questions
- How much can refinancing save in Virginia?
- On a $272,000 balance near the Virginia median, dropping from ~7.50% to 6.25% saves about $227/month. Your figure depends on your current rate and balance.
- What is the conforming loan limit in Virginia for 2026?
- Most Virginia counties use the $806,500 baseline; high-cost counties go up to $1,209,750. Above that, refinances are jumbo loans.