Mortgage Calculator – Virginia
Virginia offers a diverse housing market, ranging from high-cost Northern Virginia suburbs to more affordable rural and coastal areas.
This Virginia mortgage calculator helps you estimate realistic monthly payments by factoring in loan terms, interest rates, property taxes, and insurance.
Mortgage Calculator – Virginia
Why Mortgage Costs in Virginia Vary by Region
Northern Virginia home prices are driven by proximity to Washington, D.C., while southern and western regions remain more affordable.
Property tax rates are moderate statewide, but local county differences can significantly affect monthly payments.
Insurance costs may increase in coastal areas due to storm exposure.
Virginia Mortgage Examples
Example 1: A $480,000 home with 20% down at 6.9% over 30 years may result in a monthly payment around $2,350 including taxes and insurance.
Example 2: Homes in Northern Virginia typically cost more than those in rural counties.
Example 3: Moderate property taxes help balance higher purchase prices in metro regions.
15-Year vs 30-Year Mortgage in Virginia
| Factor | 15-Year Loan | 30-Year Loan |
|---|---|---|
| Monthly Payment | Higher | Lower |
| Total Interest | Much lower | Much higher |
| Best For | Faster payoff | Flexibility |
Frequently Asked Questions – Virginia Mortgage
Is Virginia expensive for homebuyers?
Some regions are expensive, but many areas remain affordable.
Does this Virginia mortgage calculator include property taxes?
Yes. You can include estimated property taxes and insurance.
Are property taxes high in Virginia?
Virginia property taxes are moderate compared to national averages.
Do Virginia buyers need PMI?
PMI may apply if the down payment is below 20%.
Are mortgage rates higher in Virginia?
Rates generally follow national trends.
Does this calculator include HOA fees?
No. HOA fees vary and are not included.
Is refinancing common in Virginia?
Yes. Homeowners refinance to manage rates or loan terms.
Do coastal areas affect insurance costs?
Yes. Coastal exposure can increase insurance premiums.
Related Mortgage Tools
Disclaimer
This calculator provides estimates for educational purposes only and does not constitute financial, legal, or tax advice.