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Richmond · VirginiaMortgage lender in Richmond, VA
Yes. Stellar Mortgage Corporation, NMLS #2190975, is licensed in Virginia and makes purchase and refinance loans in Richmond: conventional, FHA, VA, USDA, jumbo and non-QM. Steve Umansky, NMLS #61764, is our licensed loan officer for Virginia. For 2026 the one-unit conforming loan limit here is $832,750 and the FHA limit is $707,250.
Reviewed by Steve Umansky, Sr. Branch Manager, NMLS #61764,
From The Fan to Manchester: what changes locally, what does not, and how to find out in fifteen minutes what you actually qualify for.
Buying in Richmond
Richmond takes in The Fan, Church Hill, Scott's Addition, Museum District and Manchester. Richmond files are handled personally by Steve Umansky, Sr. Branch Manager, NMLS #61764, who is licensed in Virginia, from our Southampton, PA office.
- 2026 conforming limit
- $832,750
- 2026 FHA limit
- $707,250 (one-unit, set by HUD)
- Above that
- Jumbo pricing
- Closing handled by
- settlement agent
- State housing agency
- Virginia Housing (not a participating lender)
- Your officer
- Steve Umansky, NMLS #61764
2026 limits for a one-unit property. Richmond is not designated a high-cost area for conforming loans. Sources: FHFA conforming loan limit values and HUD FHA mortgage limits.
The 2026 baseline conforming limit is $832,750 nationally, and that is the figure that applies in Richmond. Loans above it are jumbo, which means tighter reserves and different pricing.
Richmond: the Fan, Church Hill and Southside
Richmond is an independent city and the state capital. The Fan and the Museum District are rowhouses and older homes west of downtown; Church Hill overlooks the James from the east; Northside has early twentieth-century neighborhoods; and Manchester and Southside lie across the river.
Much of the city’s housing is a century old, so appraisals look closely at condition, and recently renovated resales can trigger extra FHA appraisal requirements. Condominiums in converted warehouses in Shockoe and Manchester need the building reviewed as well as the buyer. Low-lying parts of Shockoe Bottom near the James are in a mapped flood zone. Two- to four-unit properties are common in several neighborhoods; buying one to live in follows owner-occupant rules.
Richmond by the numbers
- Median home value
- $353,000 (Census Bureau, ACS 2020–2024, table B25077)
- Typical property tax
- About 0.89% of home value a year: median tax bill $3,150 on a median value of $353,000 (Census Bureau, ACS 2020–2024, table B25103)
- Transfer tax
- Recordation tax of 25 cents per $100 and a grantor tax of 50 cents per $500; localities may add their own (Va. Code § 58.1-801)
The county median home value is $353,000. The 2026 one-unit conforming loan limit here is $832,750 and the FHA limit is $707,250.
Census figures are survey estimates for owner-occupied homes, not appraisals or tax quotes. We use the actual tax bill for the property when we quote.
Closing and programs in Virginia
Closings in Virginia are typically handled by a settlement agent. The closing process, state transfer and recording taxes and first-time buyer programs are covered on the Virginia page. Property taxes are set locally; we take the figure from the tax record for the address.
Questions Richmond buyers ask
Does Stellar Mortgage lend in Richmond, VA?
Yes. Stellar Mortgage Corporation is licensed in Virginia and lends throughout Virginia, including the City of Richmond. Steve Umansky, NMLS #61764, is our licensed originator for Virginia and works Virginia files from our Southampton, PA office.
What is the 2026 conforming loan limit in Richmond?
For 2026 the one-unit conforming limit in Richmond is $832,750, the FHFA baseline. Loans above that are jumbo, which brings tighter reserve and credit requirements. FHA limits are set separately by HUD and are usually lower; we check both for the property address before quoting.
Is there down payment assistance for first-time buyers in Richmond?
Virginia's housing agency, Virginia Housing, runs the state's bond and assistance programs. Stellar is not currently a participating lender for those, and we say so up front. What we offer Richmond first-time buyers: conventional loans with low down payment options for qualifying buyers, FHA loans with a low down payment, VA loans with little or no money down for eligible service members and veterans, and USDA financing with little or no money down where the address qualifies. Sellers can contribute to closing costs, and gift funds from family are allowed. If an agency program is the better fit for you, we will tell you.
How fast can I get pre-approved to buy in Richmond?
Once we have your application, credit, and the documents on our checklist, most buyers have a letter within one to two business days. If you have already found a home in The Fan or anywhere else in Richmond and are writing an offer, tell us on the form and we prioritize the file.
What is the 2026 FHA loan limit in Richmond?
For 2026 the FHA limit for a one-unit home in Richmond is $707,250, set by HUD. The conforming loan limit is $832,750. Limits for two- to four-unit properties are higher.
Who pays the transfer tax in Richmond?
Virginia’s recordation tax, 25 cents per $100 of the price or value, is generally the buyer’s. The grantor tax, 50 cents per $500, is the seller’s by statute unless the contract shifts it. Localities may add their own recordation tax.
Conforming limit shown is the 2026 FHFA figure for Richmond. FHA limits and state agency caps are set by HUD and Virginia Housing and change periodically. Verify on the official source. Not a commitment to lend.
Get pre-approved in Richmond
Three quick steps, about a minute. No Social Security number, no pay stubs. Steve calls you back, usually the same business day.
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“You were always professional, responsive, patient, and helpful, and you made what could have been a stressful process feel smooth and easy.”Yelda A., North Wales, PA · verified review on Experience.com
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