Newport News Mortgage Rates: 7.32% 30-Year & $1,907/mo
Freddie Mac/FRED benchmark rates show 30-year fixed at 7.32% and 15-year fixed at 6.68% as of 2026-10-22. For the $294,403 local scenario below (Zillow ZHVI, Aug 2026), that is about $1,907/mo before insurance, HOA, PMI, or other escrow items. Use these benchmarks for payment math, then compare personalized Loan Estimates from licensed lenders.
Newport News scenario: $294,403 typical home (Zillow ZHVI, Aug 2026)
20% down ($58,881), $235,522 loan
- 30-year P&I: $1,618/mo
- 15-year P&I: $2,075/mo
- Property tax at $1.18/$100: $289/mo
- Insurance placeholder: ~$100/mo
- Estimated PITI before HOA/PMI: $2,007/mo (≈$86,014/yr income at 28% front-end)
3.5% down FHA-style scenario, $284,099 loan
- 30-year P&I: $1,952/mo
- Estimated annual MIP at 0.55%: $130/mo
- Property tax at $1.18/$100: $289/mo
- Insurance placeholder: ~$100/mo
- Estimated PITI before HOA: $2,471/mo
Home value and rent: Zillow Home Value Index (ZHVI) and Zillow Observed Rent Index (ZORI), Zillow Research, data through August 2026. Rates: FRED MORTGAGE30US/MORTGAGE15US (Freddie Mac PMMS), Oct 22, 2026. Payment math: 20% down, 30-year fixed, 1.18% effective property tax, $100/mo insurance. Planning estimate, not a lender quote.
Why Newport News mortgage shopping is different
- Shipbuilding and defense income matters: HII says Newport News Shipbuilding employs more than 26,000 shipbuilders and is Virginia's largest industrial employer, so VA loan eligibility and stable defense employment can shape borrower demand.
- Taxes are not negligible: the city's listed real estate tax is $1.18 per $100 of assessment, so escrow can move the payment more than the rate headline suggests.
- Prices are tracked, not assumed: the Zillow Home Value Index puts the typical Newport News home at $294,403 (Zillow ZHVI, Aug 2026, up 2.9% year over year), so this page models that value rather than a stale planning figure.
Sources used for this Newport News update
Frequently asked questions
What are the current mortgage rates in Newport News, VA?v
As of 2026-10-22, the Freddie Mac/FRED benchmark used here shows a 7.32% 30-year fixed rate and a 6.68% 15-year fixed rate. These are national benchmark rates for payment math, not Newport News lender quotes or APR offers.
How much is a typical Newport News mortgage payment?v
Using a $294,403 Newport News home price, 20% down, and a 7.32% 30-year benchmark, principal and interest is about $1,618 per month. Estimated property tax at $1.18 per $100 of assessed value adds about $289 per month before insurance, HOA, PMI, or other escrow items.
What loan types work best for Newport News buyers?v
Newport News buyers often compare conventional, FHA, and VA loans. VA loans can be especially relevant for eligible service members, veterans, and surviving spouses because of Hampton Roads military demand and Newport News Shipbuilding employment. FHA can help lower-down-payment buyers, while conventional loans may be cleaner for borrowers with stronger credit and 20% down.
What is the 2026 conforming loan limit in Newport News?v
For 2026, the FHFA baseline one-unit conforming loan limit is $832,750. Newport News buyers should compare their planned loan amount against the current FHFA limit and use HUD’s official FHA lookup for FHA limits because those rules can differ by county and loan type.
How is the Newport News housing market trending?v
The typical Newport News home value is $294,403 (Zillow ZHVI, Aug 2026), up 2.9% year over year from about $286,106 a year earlier and up 30.4% over five years. Typical rent is $1,605/mo (Zillow ZORI, Aug 2026), a price-to-rent ratio of about 15.3. That is the home value used for the current payment scenario on this page; Redfin's sale-price and days-on-market data (linked below) is a useful cross-check for negotiating conditions.
How should Newport News buyers compare lenders?v
Compare at least three Loan Estimates for the same loan type, points, lock period, down payment, and occupancy. A rate quote is not enough by itself; APR, lender credits, discount points, title fees, prepaid items, mortgage insurance, and VA funding fee or FHA MIP can change the real cost.
How do Newport News property taxes affect the payment?v
The Newport News Economic Development Authority lists the real estate tax at $1.18 per $100 of assessment. On a $294,403 home (Zillow ZHVI, Aug 2026), that is about $3,474 per year, or roughly $289 per month, before any exemption, assessment change, escrow rule, or local fee adjustment.