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Virginia mortgage calculator

Pre-filled for Virginia: the median home value ($405,000) and the state's effective property tax rate of 0.71%. Change anything to match your home.

Home price
Down payment$81,000
%
Interest rateAPR, fixed
%
Loan term
Extra monthly paymenttoward principal
/ mo

Estimated monthly payment

$2,437.52

Loan $324,000 · 20% down

  • Principal & interest$2,047.90
  • Property tax$239.62
  • Home insurance$150.00
See the month-by-month schedule →
Total interest
$413,244
Total cost
$877,508
Payoff time
30 yr
PMI paid
None

Principal vs. interest by year

1: Principal 3,621, Interest 20,95312: Principal 3,864, Interest 20,7113: Principal 4,123, Interest 20,4524: Principal 4,399, Interest 20,17645: Principal 4,693, Interest 19,8816: Principal 5,008, Interest 19,5677: Principal 5,343, Interest 19,2328: Principal 5,701, Interest 18,87489: Principal 6,083, Interest 18,49210: Principal 6,490, Interest 18,08511: Principal 6,925, Interest 17,65012: Principal 7,389, Interest 17,1861213: Principal 7,883, Interest 16,69114: Principal 8,411, Interest 16,16315: Principal 8,975, Interest 15,60016: Principal 9,576, Interest 14,9991617: Principal 10,217, Interest 14,35818: Principal 10,901, Interest 13,67319: Principal 11,631, Interest 12,94320: Principal 12,410, Interest 12,1642021: Principal 13,242, Interest 11,33322: Principal 14,128, Interest 10,44623: Principal 15,075, Interest 9,50024: Principal 16,084, Interest 8,4912425: Principal 17,161, Interest 7,41426: Principal 18,311, Interest 6,26427: Principal 19,537, Interest 5,03828: Principal 20,845, Interest 3,7292829: Principal 22,241, Interest 2,33330: Principal 23,731, Interest 84430
PrincipalInterest

Amortization schedule by year

YearPrincipalInterestBalance
1$3,621$20,953$320,379
2$3,864$20,711$316,515
3$4,123$20,452$312,392
4$4,399$20,176$307,993
5$4,693$19,881$303,300
Monthly payment$2,437.52

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Virginia at a glance

Effective property tax
0.71%
Rank (1 = highest)
31st of 51
Median home value
$403,500
Median tax bill
$2,872/yr

On the same $400,000 home, property tax in Virginia adds about $236.67/month, versus $296.67/month at the national rate.

Virginia mortgage payments by home price

Home pricePrincipal & interestProperty taxTotal / month
$200,000$1,011.31$118.33$1,279.64
$300,000$1,516.96$177.50$1,844.46
$400,000$2,022.62$236.67$2,409.29
$600,000$3,033.93$355.00$3,538.93
$800,000$4,045.24$473.33$4,668.57

20% down, 6.5% 30-year fixed (example rate), 0.71% property tax, $1,800/yr insurance, no HOA. Also see: how much house you can afford in Virginia.

Mortgage calculators for other states

Assumptions

  • Fixed interest rate for the full term.
  • Property tax, insurance and HOA stay constant (in reality they usually rise over time).
  • PMI applies only when the loan is over 80% of the home price, and stops once the balance reaches 78% of the original price.
  • Extra payments go entirely to principal.
  • Virginia figures: Effective rate = ACS median real estate taxes paid ÷ ACS median value, owner-occupied housing units, by state. Source: US Census Bureau ACS 2024.

Frequently asked questions

What is the property tax rate in Virginia?+

The effective property tax rate in Virginia is about 0.71% of home value a year (median taxes paid $2,872 on a median home worth $403,500). That's the 31st highest of 50 states and DC, and lower than the national 0.89%. Your actual bill depends on your county, city and exemptions.

What's the mortgage payment on a median-priced home in Virginia?+

For a $405,000 home with 20% down at an example 6.5% 30-year rate, the payment is about $2,437.52 a month, including $239.62 of property tax and $150.00 of insurance.

How much income do I need to buy a home in Virginia?+

To afford the median Virginia home ($405,000) under the 28/36 guideline with 10% down and no other debts, you'd need roughly $122,000 a year in gross income at a 6.5% rate.

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Last reviewed October 14, 2026. Calculator version 1.0.0. Sources: US Census Bureau, ACS 2024 1-year, Table B25103 (Median Real Estate Taxes Paid) · US Census Bureau, ACS 2024 1-year, Table B25077 (Median Value, Owner-Occupied). Results are estimates for educational purposes, not financial, tax or lending advice. How we check our numbers.