Licensed in Virginia
Mortgages in Portsmouth, done right.
Portsmouth sits directly across the Elizabeth River from Norfolk, and despite the name, Norfolk Naval Shipyard is actually located here, the oldest and largest industrial shipyard owned by the U.S. Navy. Between the shipyard and the naval presence throughout Hampton Roads, VA loans come up in almost every conversation we have with Portsmouth buyers.
#MC-7566
VA License
96,000
Population
Written by the East Coast Mortgage team
Editorial review: East Coast Mortgage, NMLS #2354674 · Last reviewed
Home to Norfolk Naval Shipyard, despite the name. East Coast Mortgage is licensed to lend anywhere in Virginia under state license #MC-7566, Portsmouth included, not a separate city-by-city license.
By the numbers
Portsmouth financing data
Published figures only, each with its source and date. Not a rate quote, and not a commitment to lend.
$832,750
2026 conforming loan limit, one unit
City of Portsmouth, VA. Above this, a loan is a jumbo. Source: FHFA
$757,850
2026 FHA loan limit, one unit
Virginia Beach-Chesapeake-Norfolk, VA-NC metro area. Source: HUD
National 30-year fixed market average, month-end close
| Month | Conventional | FHA | VA |
|---|---|---|---|
| Aug 2026 | 6.87% | 6.40% | 6.42% |
| Sep 2026 | 7.60% | 7.25% | 7.25% |
| Oct 2026 (to October 16) | 7.37% | 6.99% | 7.01% |
The conventional average moved up 0.50 percentage points between August 31, 2026 and October 16, 2026.
National averages from the Mortgage News Daily daily rate index, as of October 16, 2026. These are market averages for top-tier borrowers, not East Coast Mortgage rates and not an offer of credit. Your rate depends on your credit, loan amount, property, and the market on the day you lock. Weekly market recaps
Licensed to serve Portsmouth
Real loan officers, individually licensed for all of Virginia.
Popular programs in Portsmouth
Every loan program below is available to Portsmouth borrowers. See all 23 →
Home Loans for Military Families
Home loans backed by the VA for active-duty service members, veterans, and some spouses, with no monthly mortgage insurance.
FHA LoanEasier to Qualify For
A lower credit score and a smaller down payment are OK. A common choice for first-time buyers.
Conventional LoanThe Standard Option
For buyers with solid credit and some savings. Usually the lowest-cost choice if you qualify.
USDA LoanHome Loans Outside the City
Backed by the USDA for buyers in eligible small towns and suburbs, more areas than most people expect.
Jumbo LoanFor Higher-Priced Homes
When a home costs more than a standard loan covers, this is built for it.
RefinancingTrade In Your Current Loan
Lower your rate, change your term, or turn your equity into cash.
Not in Portsmouth? See all of Virginia or another city nearby: Virginia Beach, Norfolk, Chesapeake, Newport News, Hampton, Suffolk, Richmond.
Licensed loan officer? See openings in Virginia →
Sources
- FHFA: Conforming loan limit values
- HUD: FHA mortgage limits lookup
- Mortgage News Daily: Daily mortgage rate index
General information, not advice for your specific situation. Program rules come from the agencies above and from each lender, and they change. A licensed loan officer confirms what applies to you.
Ready when you are
Ready to find your yes in Portsmouth?
Two quick questions, then a real, licensed loan officer follows up. No obligation, no spam.
NMLS #2354674 · Equal Housing Opportunity · Not a commitment to lend