Virginia Mortgage Calculator
This planning example uses a $403,500 home value—the 2024 ACS median for owner-occupied homes in Virginia—with 20% down and a 30-year fixed mortgage. The rate is the Freddie Mac national weekly average as of July 23, 2026; it is not a Virginia rate, a personal quote or an offer to lend. Customize the inputs with a property-specific tax bill, insurance quote and lender rate.
State planning scenario
| Down payment (20%) | $80,700 |
|---|---|
| Mortgage principal | $322,800 |
| 30-year fixed rate | 6.58% |
| Principal & interest | $2,057.33/month |
| Property tax | $239.34/month |
| Homeowners insurance | $111.00/month |
| PMI | $0.00/month |
| HOA dues | $0.00/month |
| Estimated total | $2,407.67/month |
PMI is $0 in this example because the starting loan-to-value ratio is 80%. Change the down payment in the calculator to model a higher LTV. HOA dues default to $0 because there is no reliable statewide amount.
What is localized for Virginia?
| Median owner-occupied home value | $403,500 (ACS 2024) |
|---|---|
| Property-tax planning proxy | 0.71% (ACS 2024) |
| Annual HO-3 insurance average | $1,332 (NAIC 2022) |
The tax percentage is median annual real-estate taxes paid divided by median home value. It is a ratio of statewide medians—not a statutory rate or a parcel-level effective rate. The insurance figure is a historical statewide average across policies and coverage amounts, not a current quote. Flood, earthquake, wind or other separate coverage may not be included.
How Virginia compares with the rest of the country
The median owner-occupied home in Virginia is 12% above the national median of $360,600, which makes it the 17th-most expensive state of the 50. The property-tax proxy ranks 31st and the homeowners-insurance average ranks 30th. Together, taxes and insurance account for 15% of the monthly payment modelled above.
| Planning input | Virginia | National | Rank |
|---|---|---|---|
| Median home value | $403,500 | $360,600 | 17th |
| Property-tax proxy | 0.71% | 0.89% | 31st |
| Annual insurance average | $1,332 | $1,569 | 30th |
Rank 1 is the highest of the 50 states. Carrying the payment above at the standard 28% front-end ratio takes roughly $103,000 of annual household income before other debts — see house affordability by income to work backwards from what you earn.
States with a similar median home value: Alaska, Connecticut, Florida, Montana.
What to check before trusting this estimate in Virginia
Virginia sits near the national middle on all three local inputs — home value, property tax and insurance — so there is no state-specific distortion to warn you about here. That puts the weight back on the two things that are yours to control: the rate you are quoted and the price you agree. Collect Loan Estimates from several lenders on the same day, compare the APR rather than the headline rate, and replace the tax and insurance figures above with the county tax bill and a real quote for the address.
Homebuyer resources in Virginia
Virginia Housing is the state's housing finance agency. Programs, funding, income limits, purchase-price limits and eligibility can change; verify details directly with the agency before relying on them.
2026 county loan limits
In most of the United States, the 2026 one-unit conforming baseline is $832,750, with a general high-cost ceiling of $1,249,125. The general one-unit FHA floor is $541,287 and the general ceiling is $1,249,125. County limits vary, and higher special statutory limits apply in Alaska and Hawaii. Check the property county in the FHFA conforming-limit files and HUD's FHA limit lookup.
Sources and limitations
- U.S. Census Bureau ACS, median home value
- U.S. Census Bureau ACS, real-estate taxes paid
- NAIC homeowners insurance report
- NCSHA state housing finance agency directory
Review our calculator methodology and test examples and source definitions and formula changelog. Replace every default with a property tax bill, insurance quote and lender Loan Estimate before making a decision.
