Mortgage Rates in Newport News, Virginia — April 2026
Updated April 2026 | Based on Newport News market data and regional lending conditions
With a population of 186,247, Newport News, Virginia offers a lower cost of living than most metro areas. The current 30-year fixed rate here is 6.67% (0.58% above the national average). The median home price of $309,349 translates to roughly $1,798/month with 20% down — requiring an income of about $77,057, which exceeds the local median of $60,000.
Whether you call it a 30-year mortgage, 30-year home loan, 30-year house loan, or 30-year mortgage loan, the underlying product is the same: a fixed-rate amortizing loan paid over 360 months. In Newport News, VA, the current 30-year rate is 6.67%. Shorter terms (15-year fixed at 5.91% or 20-year fixed, typically priced between the 15- and 30-year) reduce total interest paid but increase monthly payments — see our 15-year vs 30-year comparison for the math. Government-backed options include FHA loans (6.27%) and VA loans (6.07%), often available at lower rates with reduced down payment requirements.
Current Mortgage Rates in Newport News, VA
Below are the current average mortgage rates available in the Newport News area as of April 2026. Rates vary by lender, credit score, and loan-to-value ratio. Use our free calculator above to see your personalized estimate.
| Loan Type | Rate | National Avg | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.67% | 6.09% | +0.58% |
| 15-Year Fixed | 5.91% | 5.58% | +0.33% |
| 5/1 ARM | 6.17% | 5.95% | +0.22% |
| FHA | 6.27% | 5.85% | +0.42% |
| VA | 6.07% | 5.65% | +0.42% |
| Jumbo | 6.87% | 6.25% | +0.62% |
Newport News Housing Market Overview
Housing in Newport News sits near the national average at $309,349. With a median household income of $60,000 and a cost of living index of 93.5, some buyers may need to look at lower price points or consider larger down payments.
Monthly Payment Breakdown for Newport News
Based on the median home price of $309,349 with 20% down ($61,870), here is what you can expect to pay monthly in Newport News:
15-Year vs. 30-Year Mortgage in Newport News
Choosing a 15-year mortgage in Newport News at 5.91% instead of a 30-year at 6.67% would save you $199,440 in total interest over the life of the loan. However, your monthly payment would be $2,076 instead of $1,592 — an increase of $484 per month.
VA Loans in Newport News: Military & Veteran Advantage
Newport News is home to one of the largest military and defense workforces in the country, with Newport News Shipbuilding (now Huntington Ingalls Industries) employing over 25,000 workers and Naval Station Norfolk nearby. Active-duty service members, veterans, and surviving spouses may qualify for a VA loan — often the single best mortgage product available, with no down payment required and no private mortgage insurance (PMI).
Current VA loan rate in Newport News: 6.07% (vs. 6.67% for a conventional 30-year fixed). On the median home price of $309,349, that rate difference saves approximately $1,485 per year in interest.
VA Funding Fee (one-time, upfront)
| Use | 0% Down | 5–9% Down | 10%+ Down |
|---|---|---|---|
| First use | 2.15% | 1.50% | 1.25% |
| Subsequent use | 3.30% | 1.50% | 1.50% |
| Exempt (disability/Purple Heart) | $0 — No Funding Fee | ||
Key VA loan benefits: No down payment required (buy $309,349 with $0 down) · No PMI (saves ~$103/mo vs. conventional) · Competitive rates · Assumable mortgages. The funding fee can be rolled into the loan amount. Veterans with a service-connected disability rating of 10%+ are exempt from the funding fee entirely.
Calculate Your Newport News Mortgage Payment
Use our free calculator to get a personalized estimate based on your loan amount, interest rate, and term.
Open Free CalculatorFrequently Asked Questions About Mortgages in Newport News
What are the current mortgage rates in Newport News, VA?
As of April 2026, the average 30-year fixed mortgage rate in Newport News, Virginia is 6.67%, while the 15-year fixed rate is 5.91%. FHA loans average 6.27% and VA loans 6.07%. These rates are 0.58% above the national average of 6.09%.
How much is a monthly mortgage payment in Newport News?
Based on the median home price of $309,349 with 20% down, the estimated monthly mortgage payment in Newport News is $1,592 for principal and interest. Including property taxes of $206/month, the total monthly housing cost is approximately $1,798.
What income do I need to buy a home in Newport News?
Using the 28% rule, you would need an annual income of approximately $77,057 to afford the median-priced home in Newport News at $309,349. The median household income in Newport News is $60,000. This means most households would need to either earn above the median or consider homes below $309,349.
Is Newport News a good place to buy a home in 2026?
Newport News offers a below-average cost of living with a cost of living index of 93.5 (national average = 100). The property tax rate in Virginia is 0.8%, which is below the national average. Newport News has a population of 186,247 and offers a very affordable lifestyle.
Mortgage Rates in Other Virginia Cities
Related Tools & Guides
📊 Sources & Methodology
- 30-yr/15-yr fixed rates: Freddie Mac Primary Mortgage Market Survey (PMMS), weekly national average adjusted for Virginia regional spread.
- Median home price: $309,349 sourced from Redfin / Zillow real estate listings (2026 data).
- Property tax rate: 0.8% effective rate per Tax Foundation 2026 state property tax data.
- Median household income: $60,000 per US Census Bureau ACS 5-year estimate.
- Calculations: standard amortization formula M = P[r(1+r)^n] / [(1+r)^n − 1], with r = monthly rate, n = 360 months, P = loan amount (80% of home price).
Last updated: April 2026. Rates are approximate averages based on regional lending data for the Newport News, Virginia area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.