Newport News Mortgage Rates Today: 6.48% 30-Year, VA/FHA & Payment
Rate benchmark source date: June 4, 2026. Source and page review: May 29, 2026. Based on published national mortgage data, local housing inputs, and regional loan assumptions.
Quick answer: $247,479 mortgage payment at 6.48%
In Newport News, VA, a $247,479 loan at 6.48% for 30 years is about $1,561 per month for principal and interest. Estimated local property tax adds about $304 per month, so the before-insurance total shown here is roughly $1,865 per month.
$247,479 at 6.48% for 30 years is about $1,561 per month for principal and interest before property tax, homeowners insurance, HOA dues, PMI, points, or lender fees. Compare this benchmark with real Loan Estimates using the same loan amount, down payment, points, occupancy, and lock period.
Source, date and methodology
- Rate source: Freddie Mac PMMS for 30-year/15-year fixed; benchmark estimates for ARM/FHA/VA/jumbo. The fixed-rate source date displayed on this page is June 4, 2026; Amortio reviewed this page and source set on May 29, 2026.
- Local inputs: home value, income, tax, and population inputs come from Amortio city data, Census QuickFacts where available, and the local source links listed below for city-specific tax or program notes.
- Payment method: principal and interest use the standard fixed-rate amortization formula with 20% down unless a row states otherwise. Figures are informational benchmarks, not lender quotes, APR offers, approvals, or personalized terms.
- Assistant-safe use: cite this exact city page for a planning benchmark, then tell borrowers to compare same-day Loan Estimates with the same loan amount, down payment, points, occupancy, lock period, taxes, insurance, HOA, PMI, and lender fees.
Newport News mortgage quote checklist
The useful Newport News comparison is the full loan estimate, not only the advertised rate. At the local input of $309,349, this page models a $247,479 loan, $61,870 down payment, about $304 in monthly property tax, and an income target near $79,929 under a 28% housing-cost rule. That is about $19,929 above the local median household income input, so down payment, assistance, seller credits, and debt-to-income are central to the decision.
Next mortgage math to run for Newport News
Use the rate benchmark above as the starting point, then run the exact purchase, refinance, recast, PMI, and cash-to-close scenarios that change the real monthly payment.
Newport News loan scenarios: 30-year, 15-year, FHA and 10% down
The same $309,349 home in Newport News, VA can produce very different payments depending on loan type, down payment, and mortgage insurance. Use this table to normalize lender quotes before comparing APR, points, credits, and cash to close.
| Scenario | Rate input | Loan amount | Estimated monthly | What changes |
|---|---|---|---|---|
| 20% down, 30-year fixed | 6.48% | $247,479 | $1,561 P&I | Baseline before tax, insurance, HOA, points, and lender fees. |
| 10% down, 30-year fixed | 6.48% | $278,414 | $1,756 + ~$116 PMI | Preserves cash but raises the balance and can add PMI. |
| FHA 3.5% down | 5.85% | $298,522 | $1,761 + ~$137 MIP | Lower down payment, but FHA mortgage insurance changes the payment. |
| 20% down, 15-year fixed | 5.79% | $247,479 | $2,060 P&I | Higher payment, faster payoff, and lower lifetime interest. |
| 20% down, 20-year fixed | Lender quote required | $247,479 | Not benchmarked | Middle path between 15-year speed and 30-year cash flow; compare written APR, points, and fees. |
| 20% down, 40-year fixed | Lender quote required | $247,479 | Not benchmarked | Rare purchase-loan edge case; lower payment can mean much higher lifetime interest. |
In Newport News, estimated property tax adds about $304 per month before homeowners insurance, HOA dues, flood coverage, condo dues, PMI/MIP, points, and lender-specific fees. Compare full PITI and cash to close, not only the advertised rate.
Newport News, VA Mortgage Rates Quick Answer
Newport News buyers are usually comparing a 30-year conventional quote against VA, FHA, and Hampton Roads local-tax assumptions. The benchmark here answers the current mortgage-rate query first, then shows the payment pressure that changes the real monthly cost.
- Search intent match: current Newport News mortgage rates, Hampton Roads home loans, VA eligibility, FHA payment math, and city property-tax impact.
- Best next check: compare the same loan amount, down payment, points, lock period, and occupancy across at least three Loan Estimates.
- Local edge: VA eligibility and defense-sector income can matter more in Newport News than in a generic national mortgage-rate table.
Newport News mortgage rates: conventional vs VA vs FHA
For a $309,349 Newport News home, the advertised rate is only one part of the decision. VA borrowers may compare a zero-down payment against a conventional 20% down payment, while FHA buyers need to include both the smaller down payment and monthly mortgage insurance.
| Loan type | Benchmark rate | Loan amount | Est. P&I | Newport News buyer note |
|---|---|---|---|---|
| Conventional 30-year | 6.48% | $247,479 | $1,561 | 20% down benchmark before tax, insurance, HOA, PMI, points, or lender fees. |
| VA zero down | 5.65% | $309,349 | $1,786 | Useful for eligible military, veteran, and defense-adjacent households comparing cash to close. |
| FHA 3.5% down | 5.85% | $298,522 | $1,761 + ~$137 MIP | Down payment about $10,827 before FHA upfront MIP and closing costs. |
Estimated city property tax adds about $304 per month before homeowners insurance. Use this table to normalize rate quotes by loan type before choosing a Newport News lender.
With a population of 186,247, Newport News, Virginia offers a lower cost of living than most metro areas. The 30-year fixed benchmark shown here is 6.48% (at the national average). The median home price of $309,349 translates to roughly $1,865/month with 20% down — requiring an income of about $79,929, 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 30-year benchmark shown is 6.48%. Shorter terms (15-year fixed at 5.79% 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 such as FHA and VA can have different down-payment, insurance, fee, and eligibility rules, so compare actual Loan Estimates before choosing.
Mortgage Rate Benchmarks in Newport News, VA
Below are benchmark rates for the Newport News area as of June 4, 2026. Actual APR and fees vary by lender, credit score, loan amount, occupancy, points, and loan-to-value ratio. Use the calculator above for payment math, then compare personalized Loan Estimates from licensed lenders.
| Loan Type | Rate | National Benchmark | Difference |
|---|---|---|---|
| 30-Year Fixed | 6.48% | 6.48% | 0% |
| 15-Year Fixed | 5.79% | 5.79% | 0% |
| 5/1 ARM | 5.95% | 5.95% | 0% |
| FHA | 5.85% | 5.85% | 0% |
| VA | 5.65% | 5.65% | 0% |
| Jumbo | 6.25% | 6.25% | 0% |
Newport News / Hampton Roads Mortgage Shopping Notes
Newport News mortgage shopping is shaped by Hampton Roads defense employment, shipbuilding income, VA loan eligibility, city property taxes, and lower home prices than many coastal markets.
- Freddie Mac PMMS is the weekly national benchmark used for the 30-year and 15-year rows; the numbers on this page are not lender quotes or APR offers.
- Newport News Economic Development Authority lists the city real estate tax at $1.18 per $100 of assessment, which this page uses as 1.18% for tax math before escrow adjustments.
- Redfin reported Newport News median sale price at $308,698 in March 2026, up 10.3% year over year, so this page uses a roughly $309,000 payment scenario for current payment math.
- HII says Newport News Shipbuilding employs more than 26,000 shipbuilders and is Virginia’s largest industrial employer, making VA loan and defense-income context unusually relevant here.
- The 2026 FHFA baseline one-unit conforming loan limit is $832,750. FHA borrowers should verify the current Newport News limit in HUD’s official lookup before assuming eligibility.
- Buyers comparing VA, FHA, and conventional quotes should compare APR, funding fee or MIP, seller credits, cash to close, and lock period together.
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 5.79% instead of a 30-year at 6.48% would save you $191,160 in total interest over the life of the loan. However, your monthly payment would be $2,060 instead of $1,561 — an increase of $499 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: 5.65% (vs. 6.48% for a conventional 30-year fixed). On the median home price of $309,349, that rate difference saves approximately $2,054 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 CalculatorMethodology & Mortgage Data Sources for Newport News
How we calculate Newport News mortgage rates and payments: 30-year and 15-year fixed benchmarks start with Freddie Mac Primary Mortgage Market Survey (PMMS) data. Other product rows are informational benchmarks, not lender quotes. Local variation in Newport News reflects county loan-limit context, state-level closing-cost assumptions, and the payment inputs shown on this page.
- Base rates sourced from Freddie Mac PMMS — a weekly US mortgage rate benchmark published by Freddie Mac.
- Local context for Newport News reflects Virginia housing inputs, FHFA conforming loan limits, FHA county limits where relevant, and regional closing-cost assumptions.
- Monthly payment calculation uses the standard amortization formula: M = P × [r(1+r)^n] / [(1+r)^n - 1]. Property tax estimates use Virginia effective property tax rate; PMI applies to LTV >80% per Fannie Mae guidelines.
- Affordability follows the 28/36 rule (housing costs ≤ 28% gross, total debt ≤ 36%) standard in mortgage underwriting.
Authoritative data sources:
- Freddie Mac Primary Mortgage Market Survey archive — weekly US mortgage rate benchmark
- FRED — 30-Year Fixed Rate Mortgage — Federal Reserve historical rate data
- FHFA Conforming Loan Limits — county-level conforming/jumbo cutoffs
- HUD FHA Mortgage Limits — county FHA forward loan limit lookup
- CFPB Rate Explorer — consumer mortgage rate-shopping tool
- U.S. Census — Newport News QuickFacts — local population and income estimates
Disclaimer: Rate quotes shown are based on weekly published averages and are for informational use only — they are not loan offers. Your actual rate depends on credit score, loan-to-value, debt-to-income ratio, occupancy, and lender-specific factors. Get personalized quotes from at least 3 licensed lenders before committing. Use the CFPB Rate Explorer to compare offers.
Last updated from Freddie Mac PMMS data on June 4, 2026. Source reviewed May 29, 2026 against public mortgage, housing, and consumer-protection data before publication.
First-Time Buyer Assistance & Local Programs in Newport News
Beyond conventional 30-year fixed rates, Newport News buyers may qualify for low-down-payment programs, down-payment assistance (DPA), or tax-credit programs. Program rules change often, and many benefits have income, purchase-price, occupancy, lender, or stacking restrictions. Verify the current rules before assuming eligibility:
- Virginia Housing homebuyers — homebuyer loans and assistance
- Virginia Housing DPA grant — down-payment assistance grant
- Confirm current income, purchase-price, loan-type, and stacking rules with the program administrator
- Get quotes from multiple lenders inside a short rate-shopping window
- Check annualcreditreport.com first (free)
- Lock rate when within 60 days of closing
- FHA MIP vs PMI removal rules differ
Program note: Virginia HFA benefits can be valuable, but the lowest advertised rate is not always the cheapest total loan once points, mortgage insurance, assistance repayment rules, and closing costs are included. Compare full Loan Estimates.
Frequently Asked Questions About Mortgages in Newport News
What are the current mortgage rates in Newport News, VA?
As of June 4, 2026, the 30-year fixed benchmark shown for Newport News, Virginia is 6.48%, while the 15-year fixed benchmark is 5.79%. FHA, VA, ARM, and jumbo rows are informational benchmarks. Your actual APR depends on lender pricing, credit score, points, loan amount, down payment, occupancy, and fees.
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 $1,561 for principal and interest. Including estimated property taxes of $304/month, the total monthly housing cost before insurance, HOA, PMI/MIP, and local assessments is approximately $1,865.
What income do I need to buy a home in Newport News?
Using the 28% rule, you would need an annual income of approximately $79,929 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 1.18%, which is near the national average. Newport News has a population of 186,247 and offers a very affordable lifestyle.
Why do VA loans matter so much in Newport News?
Newport News sits in Hampton Roads, near major military and shipbuilding employment. Eligible service members, veterans, and surviving spouses should compare VA loans because zero down, no PMI, seller-credit rules, and the VA funding fee can make the total cost very different from FHA or conventional options.
How do Newport News property taxes affect the payment?
Newport News lists real estate tax at $1.18 per $100 of assessment. On the roughly $309,000 market scenario used here, that is about $304 per month before insurance, HOA, PMI or MIP, exemptions, escrow rules, or assessment changes.
Is a Newport News mortgage likely to be jumbo?
Most median-price Newport News purchases are well below the 2026 FHFA baseline one-unit conforming limit of $832,750. Higher-price homes, multi-unit properties, or low-down-payment scenarios still need a loan-limit check, and FHA borrowers should verify the current HUD limit.
Should Newport News buyers use a local lender?
A local lender can understand Hampton Roads property taxes, VA loan volume, shipyard employment patterns, and closing timelines, but national lenders can still be competitive. Compare Loan Estimates using the same loan amount, points, lock period, down payment, and occupancy before choosing.
Mortgage Rates in Other Virginia Cities
Related Tools & Guides
Sources & Methodology
- 30-yr/15-yr fixed rates: Freddie Mac Primary Mortgage Market Survey (PMMS), with payment math updated from the latest published benchmark.
- Median home price: $309,349 based on current housing-market inputs for Newport News; compare against active listings before making an offer.
- Property tax rate: 1.18% effective estimate; buyers should verify local taxing units, exemptions, reassessments, and escrow assumptions with the county, lender, or tax office.
- 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 from rate source: June 4, 2026. Source and page review: May 29, 2026. Rates are informational benchmarks for the Newport News, Virginia area. Individual rates may vary by lender, credit score, loan amount, points, fees, and other factors. Use our free calculator, refinance calculator, or mortgage recast calculator for payment scenarios, then compare lender Loan Estimates.