Virginia's housing market is diverse, from the competitive D.C. suburbs to the affordable mountain communities. With the nation's second-largest military population, VA loans are exceptionally popular. Our mortgage calculator helps you navigate locality-specific property taxes and insurance costs to estimate your true monthly mortgage payment.
Calculate Your Virginia Mortgage Payment
Enter the home price, down payment, and interest rate to see your estimated monthly payment including principal, interest, taxes, and insurance.
Calculator Tips for Virginia Homebuyers
Get the most out of your mortgage calculation with these expert tips.
Compare Loan Terms
Try 15-year vs 30-year terms to find the right balance of payment size and total interest paid over the life of your loan.
Down Payment Impact
Increasing your down payment by even 5% can significantly reduce your monthly payment and help you avoid paying PMI altogether.
Include All Costs
Remember to budget for property taxes, homeowners insurance, and potential HOA fees when estimating your true monthly housing cost.
Get Exact Numbers
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Turn Numbers Into Your New Home
This calculator gives you a solid starting point. When you are ready for exact numbers based on your credit profile and down payment, our loan officers provide personalized quotes — no obligation, no surprises.
Your Path to a Virginia Mortgage
From calculator to closing — here is how it works.
Choose Your Program
Explore FHA, VA, conventional, and other loan types to find the best fit for your situation.
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Calculate Your Payment
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Close on Your Home
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Loan Programs Available in Virginia
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Understanding Virginia's Mortgage Landscape
Virginia's housing market is characterized by its diversity, ranging from the highly competitive Northern Virginia suburbs to the more affordable regions in southwest Virginia and the Shenandoah Valley. The state's significant military presence also makes VA loans a popular choice among homebuyers.
The median home price in Virginia is around $340,000, though this figure varies widely across different regions. In Northern Virginia, median prices can exceed $600,000, while in more rural areas, prices can be below $200,000.
Virginia's property tax rates vary significantly by locality, impacting your monthly mortgage payments.
Virginia-Specific Mortgage Considerations
- Property Taxes: Virginia property tax rates range from about 0.50% in rural counties to over 1.20% in some independent cities. Research your specific locality's rate for an accurate mortgage payment estimate.
- Military Presence: With the second-largest military population in the U.S., VA loans are extremely popular in Virginia. They offer zero down payment and no PMI, making homeownership more accessible to military families.
- USDA Loans: Much of rural Virginia qualifies for USDA loans with zero down payment. These loans are ideal for moderate-income buyers in eligible areas.
VHDA offers down payment assistance and reduced interest rates for eligible buyers.
Using Our Virginia Mortgage Calculator
Our mortgage calculator is designed to help you navigate the complexities of Virginia's housing market. By considering locality-specific property taxes, insurance costs, and loan options, you can get a more accurate estimate of your monthly mortgage payments.
To get the most out of our calculator, you'll need to know your specific locality's property tax rate and have an idea of your insurance costs. You can also explore different loan options, including VA loans and USDA loans, to see which one best fits your situation.
Adjust the numbers to fit your budget and explore different scenarios.
Virginia Housing Development Authority (VHDA) Programs
The Virginia Housing Development Authority (VHDA) offers several programs to help Virginians achieve homeownership. These include down payment assistance grants and reduced interest rates for eligible buyers.
To qualify for VHDA programs, you'll need to meet certain income limits and purchase price limits, which vary by region. First-time homebuyers and those who haven't owned a home in the past three years are also eligible.
VHDA programs can significantly lower your upfront costs and monthly payments.
Virginia Mortgage Calculator FAQs
Virginia property taxes vary by locality, ranging from 0.50% to over 1.20%. Higher property taxes can increase your monthly mortgage payments. Use our calculator to see how different tax rates impact your costs.
VA loans offer zero down payment and no PMI, making them attractive to Virginia's large military population. They can save military families thousands in upfront costs and monthly payments.
Yes, much of rural Virginia qualifies for USDA loans with zero down payment. Check your eligibility and use our calculator to estimate your mortgage payments with no down payment required.
VHDA offers down payment assistance and reduced interest rates. Use our calculator to see how these programs can lower your upfront costs and monthly payments.
Virginia's median home price varies by region. As of the latest data, it's around $340,000 statewide, but prices can range from $200,000 in rural areas to over $600,000 in Northern Virginia.
Virginia Mortgage Resources
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