Virginia Mortgage Calculator 2026 — Monthly Payment Estimator
Last updated: April 2026 · Source: Zillow, Freddie Mac, Tax Foundation
Quick Answer
The average monthly mortgage payment in Virginia is $2,337 for a $395K home with 10% down at the current 6.88% 30-year rate (principal + interest only). Add $263/mo property tax and $117/mo insurance for total PITI.
Virginia Housing & Mortgage Data
| Median Home Price | $395,000 |
| 30-Year Fixed Rate | 6.88%(State average, Apr 2026) |
| Property Tax Rate | 0.80%(Effective rate) |
| Avg HO Insurance | $1,400/yr ($117/mo) |
| Typical Down Payment | 10% ($39,500) |
| Median Household Income | $80,000/yr |
| Principal + Interest (P&I) | $2,337/mo |
| Property Tax (escrow) | $263/mo |
| Homeowners Insurance | $117/mo |
| Total PITI Payment | $2,717/mo(Excludes PMI) |
Key Facts for Virginia
- ✓Virginia median home price is $395,000 as of 2026
- ✓30-year fixed mortgage rates in Virginia average 6.88%
- ✓Property taxes in Virginia are 0.80% — near the national average of 1.10%
- ✓Homeowners insurance averages $1,400/year in Virginia
- ✓A household earning $98,750/year can typically afford the median Virginia home
More Virginia Calculators
Frequently Asked Questions — Mortgage Calculator in Virginia
- What is the average mortgage payment in Virginia?
- The average monthly mortgage payment (principal + interest) in Virginia is approximately $2,337 for a $355,500 loan at 6.88% over 30 years. Adding property tax ($263/mo) and homeowners insurance ($117/mo) brings total PITI to about $2,717/month.
- What credit score do I need for a mortgage in Virginia?
- Most Virginia lenders require a minimum 620 credit score for conventional loans and 580 for FHA loans (with 3.5% down). For the best rates in Virginia, aim for 740+. A higher score can reduce your rate by 0.5–1.0%, saving $53,325 over the life of a 30-year loan.
- How much down payment is required to buy a home in Virginia?
- You can buy a home in Virginia with as little as 0% down (VA, USDA loans for eligible buyers), 3% down (conventional), or 3.5% down (FHA). On the Virginia median home price of $395,000, a 20% down payment is $79,000 and lets you avoid PMI. Virginia also has state-level down payment assistance programs for first-time buyers.
- What are current mortgage rates in Virginia?
- Current 30-year fixed mortgage rates in Virginia average 6.88% as of April 2026. 15-year fixed rates are typically 0.5–0.75% lower. Rates vary by lender, credit score, and loan-to-value ratio. Compare at least 3–5 lenders to ensure you get the best Virginia mortgage rate.
- What is the property tax rate in Virginia?
- Virginia's effective property tax rate is 0.80%. On the Virginia median home value of $395,000, annual property taxes are approximately $3,160 ($263/month). Property taxes in Virginia are typically escrowed in your monthly mortgage payment.