Alexandria remains one of the tightest sub-markets in Northern Virginia. Active listings are down 18% year-over-year, yet pending sales rose 6% this spring, pushing months-of-supply to just 1.2. The result: 42% of April sales closed above list price, with escalation clauses $25k–$50k over ask common under $700k. Condos along the Yellow-Line corridor (Braddock, Potomac, Eisenhower) are appreciating fastest—up 9% annually—because Amazon HQ2 commuters prize the 18-minute Metrorail ride to National Landing. Single-family homes in the 22307 zip (Belle Haven, Waynewood) trade at a 12% premium to assessment, so ordering an appraisal-gap strategy is critical when you bid.

If you’re house-hunting this summer, budget for inspection competition: many buyers waive repairs under $2,000 to stay competitive. NMHL’s same-day pre-underwrite positions you like a cash bidder; we issue a fully underwritten approval letter, not just a credit pull, which listing agents in Old Town and Del Ray increasingly prefer.

• Old Town (22314): Cobblestone streets and $800-$950k renovated row homes. Parking is scarce; look for listings with deeded spaces that add $40k–$50k of value.
• Del Ray (22305): Craftsman bungalows, weekly farmer’s market, and a true small-town vibe. Median sale price $725k, but fixers still appear at $600k on the edges of town.
• Potomac Yard / Potomac (22301): New mixed-use towers, Harris Teeter downstairs, and a soon-to-open Metro station. Expect HOA fees $280–$450 but walkability scores above 90.
• West End (22311): More affordable, with 1980s condo high-rises trading $275k–$350k. FHA spot approvals are common, making this a sweet spot for first-time buyers.
• Belle Haven / Fairfax County slice (22307): Leafy lots, golf-course views, and prices $900k–$1.2M. Technically Alexandria mailing address but lower Fairfax tax rate.

Property taxes vary: City of Alexandria assesses at $1.11 per $100, while Fairfax County portions sit at $1.14. Always verify jurisdiction with your agent—switching one block can save $500+ annually.

Virginia Housing Development Authority (VHDA) is the state’s gold standard. Their Down Payment Assistance Grant provides 3% of either the sale price or appraised value—whichever is lower—applied straight to closing. No second lien, no monthly payment, and forgiveness kicks in after 60 months. Household income limits in Alexandria City are $103,680 for a 1–2 person household and $121,280 for 3+. Combine the grant with VHDA’s FHA Plus loan and you’ll receive a 0.25% rate reduction off already-below-market pricing.

Alexandria’s First-Time Homebuyer Program layers on an additional $5,000 for closing costs if your income is ≤80% of the area median ($86,560 for two people). The city also offers a Tax Abatement Program for new construction in Arlandria and the Beauregard corridor—five years of reduced assessments that can trim monthly payments by $200–$300.

Pro move: VHDA’s SPARC (Secondary Payment Assistance for Resale Commodities) lets teachers, first responders, and veterans receive up to $7,500 more in matching funds. Ask an NMHL loan officer to run a dual-approval so you can compare VHDA vs. conventional with our closing-cost credit—whichever keeps the most cash in your pocket.

Traditional banks often decline borrowers with FICO scores under 680 or tax returns that don’t reflect real cash flow. NMHL built three Alexandria-centric solutions:

• FHA Near-Miss: Qualify down to 580 with 3.5% down or 550 with 10% down. We allow 50% DTI with compensating factors like 3 months reserves.
• VA Freedom: No minimum score required if residual income exceeds 120% of guideline; we accept 580 with 100% financing and no added price hit.
• Bank Statement Advantage: Use 12 or 24 months of personal or business statements; qualify at 85% of gross deposits. Perfect for gig-economy consultants or restaurant owners near Eisenhower Avenue.

Because we underwrite in our King Street office, Alexandria buyers get decisions in 24 hours and closings in as little as 17 days. We also offer a Credit Refresh Simulator—our in-house credit team can run “what-if” scenarios to see how paying down a specific card balance by $1,000 could raise your score 20 points and drop your rate a full eighth.

With Fort Belvoir, the Pentagon, and Quantico inside a 30-minute drive, Alexandria is packed with active-duty and retired service members. NMHL funds more VA purchase loans in the 22314 zip than any other lender, according to 2023 HMDA data. Our VA Jumbo One-Two pairs a $766,550 first with a 15-year second up to $1.5M total—no down payment required and no PMI, even on a $1M townhouse in Carlyle.

Veterans with a service-connected disability rating of 30% or more can add the Virginia Wounded Warrior Tax Exemption, eliminating property taxes on the first $200k of assessed value—worth roughly $2,200 every year. If you’re coming off a PCS move, NMHL will accept an unexpired LES in lieu of two years of W-2s and can lock your rate 90 days out so you can house-hunt during leave without market-rate risk.

Alexandria’s spring market rewards speed and certainty. Sellers routinely field 4–7 offers within 48 hours, so a basic pre-qualification letter won’t cut it. NMHL issues Pre-Underwritten Approvals—we pull credit, verify income, run automated underwriting, and only need a ratified contract and appraisal to close. Listing agents recognize the difference; our clients’ offers were accepted 38% more often in Q1 2024.

Start by uploading pay stubs, W-2s, or bank statements to our NMHL Alexandria Portal. You’ll receive a side-by-side comparison of VHDA, FHA, VA, and conventional scenarios with total cash-to-close and monthly payment. Once pre-approved, you can request rate-lock protection up to 90 days without a property address—crucial in a market where every 0.125% shift changes buying power by roughly $4,000.

Ready to see numbers built for your neighborhood? Click the Get My Alexandria Rate button or call our King Street office at 703-555-0198. An actual local loan officer—never a call center—will pick up, usually within two rings.