Mortgage Rates in Midlothian, Virginia — March 2026
Updated March 2026 | Based on Midlothian market data and regional lending conditions
Midlothian is a growing city in Virginia with a population of 19,059. The current 30-year fixed mortgage rate in Midlothian is 6.77%, which is 0.12% above the national average. With a median home price of $336,000 and a 20% down payment of $67,200, homebuyers can expect a monthly principal and interest payment of approximately $1,747.
Current Mortgage Rates in Midlothian, VA
Below are the current average mortgage rates available in the Midlothian 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 | 6.77% | 6.65% | +0.12% |
| 15-Year Fixed | 6.01% | 5.89% | +0.12% |
| 5/1 ARM | 6.26% | 6.15% | +0.11% |
| FHA | 6.51% | 6.25% | +0.26% |
| VA | 6.26% | 6.05% | +0.21% |
| Jumbo | 7.02% | 6.85% | +0.17% |
Midlothian Housing Market Overview
The Midlothian housing market reflects moderate demand with prices near the national average. The median household income in Midlothian is $67,200, and the cost of living index is 96.2 (national average = 100). Based on the 28% affordability rule, you would need an income of approximately $84,471 to comfortably afford the median-priced home in Midlothian, which exceeds the current median household income.
Monthly Payment Breakdown for Midlothian
Based on the median home price of $336,000 with 20% down ($67,200), here is what you can expect to pay monthly in Midlothian:
15-Year vs. 30-Year Mortgage in Midlothian
Choosing a 15-year mortgage in Midlothian at 6.01% instead of a 30-year at 6.77% would save you $220,320 in total interest over the life of the loan. However, your monthly payment would be $2,270 instead of $1,747 — an increase of $523 per month.
Calculate Your Midlothian 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 Midlothian
What are the current mortgage rates in Midlothian, VA?
As of March 2026, the average 30-year fixed mortgage rate in Midlothian, Virginia is 6.77%, while the 15-year fixed rate is 6.01%. FHA loans average 6.51% and VA loans 6.26%. These rates are 0.12% above the national average of 6.65%.
How much is a monthly mortgage payment in Midlothian?
Based on the median home price of $336,000 with 20% down, the estimated monthly mortgage payment in Midlothian is $1,747 for principal and interest. Including property taxes of $224/month, the total monthly housing cost is approximately $1,971.
What income do I need to buy a home in Midlothian?
Using the 28% rule, you would need an annual income of approximately $84,471 to afford the median-priced home in Midlothian at $336,000. The median household income in Midlothian is $67,200. This means most households would need to either earn above the median or consider homes below $336,000.
Is Midlothian a good place to buy a home in 2026?
Midlothian offers a below-average cost of living with a cost of living index of 96.2 (national average = 100). The property tax rate in Virginia is 0.8%, which is below the national average. Midlothian has a population of 19,059 and offers a balanced lifestyle.
Mortgage Rates in Other Virginia Cities
Related Tools & Guides
Last updated: March 2026. Rates are approximate averages based on regional lending data for the Midlothian, Virginia area. Individual rates may vary by lender, credit score, loan amount, and other factors. Use our free calculator for a personalized estimate.