Mortgage Rates in Gloucester Point, Virginia — March 2026
Updated March 2026 | Based on Gloucester Point market data and regional lending conditions
Gloucester Point is a growing city in Virginia with a population of 10,532. The current 30-year fixed mortgage rate in Gloucester Point is 6.72%, which is 0.07% above the national average. With a median home price of $337,000 and a 20% down payment of $67,400, homebuyers can expect a monthly principal and interest payment of approximately $1,743.
Current Mortgage Rates in Gloucester Point, VA
Below are the current average mortgage rates available in the Gloucester Point area as of March 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 | 6.72% | 6.65% | +0.07% |
| 15-Year Fixed | 5.97% | 5.89% | +0.08% |
| 5/1 ARM | 6.23% | 6.15% | +0.08% |
| FHA | 6.49% | 6.25% | +0.24% |
| VA | 6.24% | 6.05% | +0.19% |
| Jumbo | 6.97% | 6.85% | +0.12% |
Gloucester Point Housing Market Overview
The Gloucester Point housing market reflects moderate demand with prices near the national average. The median household income in Gloucester Point is $69,500, and the cost of living index is 106.1 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $84,086 to comfortably afford the median-priced home in Gloucester Point, which exceeds the current median household income.
Monthly Payment Breakdown for Gloucester Point
Based on the median home price of $337,000 with 20% down ($67,400), here is what you can expect to pay monthly in Gloucester Point:
15-Year vs. 30-Year Mortgage in Gloucester Point
Choosing a 15-year mortgage in Gloucester Point at 5.97% instead of a 30-year at 6.72% would save you $218,700 in total interest over the life of the loan. However, your monthly payment would be $2,271 instead of $1,743 — an increase of $528 per month.
Calculate Your Gloucester Point Mortgage Payment
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Open Free CalculatorFrequently Asked Questions About Mortgages in Gloucester Point
What are the current mortgage rates in Gloucester Point, VA?
As of March 2026, the average 30-year fixed mortgage rate in Gloucester Point, Virginia is 6.72%, while the 15-year fixed rate is 5.97%. FHA loans average 6.49% and VA loans 6.24%. These rates are 0.07% above the national average of 6.65%.
How much is a monthly mortgage payment in Gloucester Point?
Based on the median home price of $337,000 with 20% down, the estimated monthly mortgage payment in Gloucester Point is $1,743 for principal and interest. Including property taxes of $219/month, the total monthly housing cost is approximately $1,962.
What income do I need to buy a home in Gloucester Point?
Using the 28% rule, you would need an annual income of approximately $84,086 to afford the median-priced home in Gloucester Point at $337,000. The median household income in Gloucester Point is $69,500. This means most households would need to either earn above the median or consider homes below $337,000.
Is Gloucester Point a good place to buy a home in 2026?
Gloucester Point has a moderate cost of living with a cost of living index of 106.1 (national average = 100). The property tax rate in Virginia is 0.78%, which is below the national average. Gloucester Point has a population of 10,532 and offers a balanced lifestyle.
Mortgage Rates in Other Virginia Cities
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Last updated: March 2026. Rates are approximate averages based on regional lending data for the Gloucester Point, Virginia area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.