Virginia HELOC Guide: Rates, Lenders & Requirements (2026)

Meta Title: Virginia HELOC Guide: PenFed, Navy Federal & Best Rates (2026) Meta Description: Virginia homeowners have excellent HELOC options including PenFed and Navy Federal. Understand Northern Virginia's high values and military-friendly lenders. Keywords: virginia heloc, heloc virginia, northern virginia heloc, virginia home equity loan

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Virginia homeowners have some of the best HELOC options in the country.

PenFed and Navy Federal — two of the top credit unions nationally — are headquartered or heavily present in Virginia. Northern Virginia has some of the highest home values on the East Coast. And Virginia's stable economy (government, military, tech) makes lenders comfortable.

Here's how to make the most of it.

Virginia HELOC Rates Right Now

Rates as of February 2026. Verify current rates with lenders.

Virginia insight: You have access to two of the nation's best credit unions. PenFed is open to everyone; Navy Federal requires military connection. Both have consistently excellent rates.

Best Virginia HELOC Lenders

1. Pentagon Federal Credit Union (PenFed)

• Best for: Best rates, open to everyone
• HQ: Tysons, Virginia
• Membership: Open to all (join PenFed Foundation)
• Standout: Among the lowest HELOC rates nationally, headquartered in Virginia

2. Navy Federal Credit Union

• Best for: Military families (large VA military population)
• Eligibility: Military, veterans, DoD civilians, and their families
• Standout: Excellent rates, excellent service if you qualify

3. Apple Federal Credit Union

• Best for: Northern Virginia (NOVA)
• Coverage: Fairfax, Loudoun, Arlington, Alexandria
• Standout: Deep NOVA market knowledge

4. Langley Federal Credit Union

• Best for: Hampton Roads (Norfolk, Virginia Beach, Newport News)
• Coverage: Strong in military-heavy Hampton Roads
• Standout: Military community expertise

5. Virginia Credit Union

• Best for: Richmond and Central Virginia
• Coverage: Richmond metro focus
• Standout: Strong local presence

Virginia HELOC Requirements

Good news: Virginia has no unusual state restrictions. Standard HELOC rules apply.

Northern Virginia: The High-Value Market

Northern Virginia (NOVA) has some of the highest property values on the East Coast.

Median home values:

• Fairfax County: $650,000+
• Arlington: $700,000+
• Loudoun County: $650,000+
• Alexandria: $600,000+

What drives these values:

• Federal government proximity
• Defense contractors and consulting firms
• Growing tech sector (Amazon HQ2 in Arlington)
• Excellent schools

HELOC implications:

• High values = potentially large HELOC amounts
• But: Higher home prices also mean higher mortgage balances
• Many NOVA homeowners have $100,000-300,000+ in tappable equity

Virginia-Specific Considerations

Military Considerations

Virginia has one of the largest military populations in the country.

Norfolk/Hampton Roads:

• Largest naval base in the world
• Significant military and contractor population
• Navy Federal and USAA are popular choices

Pentagon area:

• PenFed headquarters literally named for the Pentagon
• High concentration of DoD civilians
• Both PenFed and Navy Federal well-represented

If you're military-affiliated:

• Navy Federal should be your first call
• USAA is also excellent (though less HELOC-focused)
• SCRA protections may apply during deployment

If you're NOT military-affiliated:

• PenFed is still available to you
• Join through PenFed Foundation (simple process)
• You get military-grade credit union rates without military service

NOVA vs. Hampton Roads vs. Richmond

Northern Virginia (NOVA):

• Highest property values
• Government/contractor/tech economy
• Strong, stable market
• PenFed, Apple FCU are top choices

Hampton Roads:

• Military-driven economy
• More moderate property values
• Navy Federal, Langley FCU excel here

Richmond:

• State capital, growing tech scene
• More affordable than NOVA
• Virginia Credit Union is the local champion

Tech Sector Growth

Amazon's HQ2 in Arlington has accelerated Northern Virginia's tech transformation.

Impact on home values: Significant appreciation in Arlington, Alexandria, and Crystal City areas.

HELOC consideration: If you bought before the Amazon announcement (2018), you've likely seen substantial equity gains.

Virginia HELOC Tax Implications

State income tax: Virginia has a top rate of 5.75% — moderate.

Federal + state deduction: HELOC interest used for home improvements is deductible on both.

Effective benefit: Meaningful but not as dramatic as California's 13.3%. Still worth tracking home improvement expenses.

How to Get a Virginia HELOC

Step 1: Determine your eligibility

• Military connection? → Start with Navy Federal
• No military connection? → PenFed is your best bet
• Either way, you have excellent options

Step 2: Check your home value NOVA values especially have moved. Get a current estimate.

Step 3: Calculate available equity Value × 80-85% - mortgage balance = HELOC capacity

Step 4: Compare options Even if PenFed or Navy Federal seems obvious, get quotes from local credit unions too

Step 5: Apply Timeline: 2-3 weeks typical

Common Questions

What are the best HELOC rates in Virginia? PenFed and Navy Federal offer 7-8%. Both are among the best in the nation.

Can I use Navy Federal for a Virginia HELOC? If you're eligible (military, veteran, DoD civilian, or family member), absolutely. They're excellent.

How much equity do Northern Virginia homeowners have? With $600,000-700,000+ median values, long-term owners often have $100,000-300,000+ in equity.

What credit unions offer HELOCs in Virginia? PenFed (open to all), Navy Federal (military), Apple FCU (NOVA), Langley FCU (Hampton Roads), Virginia CU (Richmond).

Is PenFed really open to everyone? Yes. Join through PenFed Foundation (simple, free). You don't need military connection.

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Next Steps

Check your eligibility for Navy Federal (military connection) or join PenFed (open to everyone). Then calculate your equity to see what's available.

With access to two of the nation's top credit unions, Virginia homeowners have excellent HELOC options.

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Last updated: February 2026