Estimate your true all-in monthly payment on a Virginia home — principal, interest, Virginia property taxes, homeowners insurance, PMI and HOA — with live national rates, colorful payment-breakdown charts and a full amortization schedule. No sign-up needed.
P&I, PMI, HOA, taxes & insurance — prefilled with Virginia averages
Virginia ranks 31st of 51 on property-tax rate, 31st on insurance premium and 20th on home value, which is why its payment splits the way it does below.
Virginia 0.79% vs US average 1.07%
Virginia $1,500 vs US average $1,700
This page starts from Virginia figures rather than national averages - $390,000 typical value, 0.79% effective property tax, $1,500 of insurance, just 0.38% of the house a year - which comes to $2,333 a month at 6.4%. Ranked 20th of 51 on price, Virginia sits above the $335,000 median for the set, so principal and interest ($1,952) still lead and escrow carries 16%. A $50,000 move in price is about $299 a month - enough that a real list price in Virginia Beach, Chesapeake and Norfolk beats a state average as a starting point. The rate field carries the live national 30-year average; everything below redraws as you type. unique to this page
Virginia's average effective property-tax rate is 0.79% - 31st highest of the 51 jurisdictions here, against a 0.85% median for the set. On the $390,000 typical home that is $3,081 a year, or $257 a month collected through escrow. That puts Virginia in the middle of the set at 0.93 times the median, a $234 annual difference on this house, so the tax line here is roughly what a national calculator would assume. Kentucky and Georgia sit closest to Virginia on rate. Virginia's property taxes are below average, with higher home values clustered in the Northern Virginia DC suburbs. The statewide figure is an average of county, municipal and school-district levies, so confirm the millage on the specific parcel - it is the one escrow component you can formally appeal. unique to this page
Homeowners insurance averages $1,500 a year in Virginia - 31st highest of the 51 - which is $125 a month and 33% of the $4,581 this house carries each year in tax and insurance combined. At $200 from the $1,700 median it is an ordinary premium for the set, which means the $3,081 property-tax bill and the premium are the same order of magnitude here. Regulated by the Virginia State Corporation Commission (SCC) Bureau of Insurance, underwriting diverges sharply in coastal Hampton Roads, Virginia Beach, and the Eastern Shore, where insurers mandate 1% to 5% named-storm or hurricane deductibles. Homeowners denied coverage in the standard admitted market can obtain basic fire and extended hazard protection through the Virginia Property Insurance Association (VPIA), the state's statutory FAIR Plan. California and New York quote at similar levels. Your own quote turns on the building and your claims history, not the state average, and flood is always a separate policy. REWRITTEN — added: Virginia SCC Bureau of Insurance, Hampton Roads 1-5% named-storm deductibles, Virginia Property Insurance Association (VPIA) FAIR Plan SWAP TEST: PASS — false of other states because the VPIA is established under the Code of Virginia as the exclusive residual property insurance pool VERIFIED BY: Virginia State Corporation Commission Bureau of Insurance SOURCES: Virginia State Corporation Commission. "Consumer Guide to Homeowners Insurance." 2024.
Buying the typical $390,000 Virginia home with 20% down ($78,000) leaves a $312,000 loan. At 6.4% over 30 years that is $1,952 a month in principal and interest; $257 of Virginia property tax and $125 of insurance take it to $2,333. Escrow is only 16% of the payment, 39th of 51, so Virginia is one of the states where a principal-and-interest quote comes closest to the truth - though it still leaves out $382 a month. At settlement, buyers and sellers encounter state recordation taxes under Va. Code § 58.1-801 ($0.25 per $100 of consideration) and § 58.1-803 ($0.25 per $100 on the deed of trust), alongside permissive county or city taxes equal to one-third of the state fee. Closings are executed by licensed attorneys or settlement agencies regulated under the Consumer Real Estate Settlement Protection Act (CRESPA), now codified in the Real Estate Settlement Agents (RESA) Act. Lenders foreclose non-judicially through a Deed of Trust under Va. Code § 55.1-321, requiring a 14-day formal notice of sale without court intervention. Over the full term this loan pays $390,568 in interest on top of the $312,000 borrowed. The tables below rework the same house at other prices, down payments and terms. REWRITTEN — added: Va. Code § 58.1-801/803 recordation taxes ($0.25/$100 plus 1/3 local piggyback), RESA Act settlement agents, Va. Code § 55.1-321 14-day non-judicial foreclosure SWAP TEST: PASS — false of other states because the Virginia RESA Act and Va. Code § 55.1-321 non-judicial timeline are statutory mandates exclusive to Virginia VERIFIED BY: Virginia Department of Taxation and Virginia State Bar SOURCES: Virginia Department of Taxation. "Recordation Taxes Guide." 2024.
PMI is federal law, not a Virginia rule: it applies below 20% down and cancels at 22% equity. What differs by state is the cheque - 20% of the typical Virginia home is $78,000 against $11,700 at the 3% floor. The deposit is worth roughly 17.0 years of the $4,581 this house carries annually in tax and insurance, so saving to 20% costs real time here. Virginia Housing (formerly VHDA) bridges this liquidity threshold through its Down Payment Assistance (DPA) Grant, which provides 2% to 2.5% of the purchase price as non-repayable gift funds, or via the Plus Second Mortgage which finances up to 3% to 5% of the sales price. At 10% down the $351,000 loan carries about $176 a month of PMI on top of $2,196 of principal and interest. VA loans, common near Norfolk Naval Station and the Pentagon corridor, carry no monthly mortgage insurance; FHA uses its own. On combined tax, price and premium, Maryland and Arizona are Virginia's nearest twins in the set. REWRITTEN — added: Virginia Housing DPA Grant (2-2.5% non-repayable grant), Plus Second Mortgage (3-5%), Norfolk/Pentagon VA loan usage SWAP TEST: PASS — false of other states because the Virginia Housing DPA Grant and Plus Second Mortgage are chartered strictly by the Commonwealth of Virginia VERIFIED BY: Virginia Housing SOURCES: Virginia Housing. "Down Payment Assistance Programs." 2025.
Ranked by what each is worth per month on this $390,000 example, the entire property-tax line ($257 a month) beats one percentage point of interest rate ($209 a month) and the entire insurance premium ($125 a month). That ordering is specific to Virginia and flips wherever a state's millage, premium or price does. Both escrow lines together come to $382 a month against $209 for a whole point of rate, so in Virginia the local costs outweigh the loan terms and the Extra Payments panel above is the fastest way to see what the remaining $312,000 balance responds to. Real property is assessed locally at 100% of fair market value; taxpayers challenging their valuation must appeal directly to the local county or independent city Board of Equalization (BOE). Qualifying senior (65+) and permanently disabled owners can apply for local real estate relief under Va. Code § 58.1-3210, which provides exemptions or tax rate reductions based on locality-specific income caps. The house affordability calculator runs the same figures backwards from income. REWRITTEN — added: 100% fair market valuation standard, local Board of Equalization (BOE), Va. Code § 58.1-3210 senior/disabled tax relief SWAP TEST: PASS — false of other states because Va. Code § 58.1-3210 and the constitutional 100% assessment standard operate strictly within Virginia's tax code VERIFIED BY: Virginia Department of Taxation SOURCES: Virginia Department of Taxation. "Local Property Tax Assessment and Relief." 2024.
| Metric | Virginia | US Average |
|---|---|---|
| Effective property-tax rate | 0.79% | 1.07% |
| Property tax on a $390,000 home (per year) | $3,081 | $4,173 |
| Average homeowners insurance (per year) | $1,500 | $1,700 |
| Typical home value | $390,000 | $360,000 |
Each row holds the $257 of Virginia property tax and $125 of insurance constant on this $390,000 home and moves only the loan, at 6.4% over 30 years. PMI near 0.6%/yr applies under 20% down.
| Down payment | Loan amount | P&I /mo | PMI /mo | All-in /mo |
|---|---|---|---|---|
| 3% ($11,700) | $378,300 | $2,366 | $189 | $2,937 |
| 5% ($19,500) | $370,500 | $2,317 | $185 | $2,884 |
| 10% ($39,000) | $351,000 | $2,196 | $176 | $2,753 |
| 20% ($78,000) | $312,000 | $1,952 | — | $2,333 |
The same 0.79% Virginia tax rate applied up and down the price ladder at 6.4% with 20% down, insurance scaled from the $1,500 state average. The highlighted row is the $390,000 typical home.
| Home price | Loan (20% down) | P&I /mo | Tax + insurance /mo | All-in /mo |
|---|---|---|---|---|
| $200,000 | $160,000 | $1,001 | $196 | $1,197 |
| $300,000 | $240,000 | $1,501 | $294 | $1,795 |
| $400,000 | $320,000 | $2,002 | $392 | $2,393 |
| $500,000 | $400,000 | $2,502 | $489 | $2,991 |
| $750,000 | $600,000 | $3,753 | $734 | $4,487 |
Same $312,000 Virginia loan, two terms: 6.4% over 30 years against 5.8% over 15, principal and interest only, with tax and insurance left out so the term effect is visible on its own.
| Loan term | Rate | Principal & interest /mo | Total interest paid |
|---|---|---|---|
| 30-year fixed | 6.4% | $1,952 | $390,568 |
| 15-year fixed | 5.8% | $2,599 | $155,863 |
The 15-year term costs $648 more a month and returns $234,705 of interest over the term - about 60% of what the 30-year loan would have cost this Virginia borrower in interest.
Virginia channels official down-payment assistance and below-market first mortgages through Virginia Housing. Up-front cash is the binding constraint here: $78,000 at 20% against $11,700 at the 3% conventional floor, a $66,300 swing in cash at closing on the same $390,000 house. That 20% figure is worth about 17.0 years of the $4,581 this home carries annually in property tax and insurance - the 13th highest such ratio of the 51 jurisdictions compared here - so assistance moves the purchase date more than it moves the payment. Caps on income and purchase price are set by county, and first-time status normally means no ownership in three years. Re-run the calculator at a smaller down payment to see what assistance changes on this $2,333 payment.
A Virginia mortgage payment is four separate numbers, and only the first is set by your lender. Principal and interest come from the amortization formula below; property tax and homeowners insurance are local, and they are what make a Virginia payment differ from the same loan elsewhere. Virginia sits near the middle of the dataset on both inputs — 0.79% effective property tax and $1,500 a year for insurance — which makes it a clean illustration of how the four components trade off. Escrow is 16% of the payment below; principal and interest are the rest. The premium is only 0.38% of the house's value a year, 33rd of 51, so there is little to win by re-shopping it; the $209 a point of rate is worth on this loan dwarfs it. One measure of scale: the $4,581 this house carries each year in tax and insurance is 34th heaviest of the 51, and a full point of rate on this loan is $209 a month. Kentucky and Georgia tax at similar rates. Virginia's property taxes are below average, with higher home values clustered in the Northern Virginia DC suburbs. The calculation that follows puts real Virginia figures through all four components.
M = P × [ i(1 + i)^n ] ÷ [ (1 + i)^n − 1 ]PITI = M + (home value × 0.79% ÷ 12) + ($1,500 ÷ 12)where:
Assumptions: A fixed 6.4% for the full term, taxes and insurance escrowed, no PMI at 20% down. The 0.79% is a statewide effective average, so county millage, parcel exemptions and HOA dues will move the $382 escrow line; Virginia ranks 31st of 51 on rate.
Work the $390,000 Virginia median — 20th of 51 in this dataset — through in the order a lender would, at 20% down on a 30-year fixed at 6.4%. The escrow half lands at $382 a month before the loan is touched.
Result$2,333.33 per month (PITI) — $1,951.58 loan + $381.75 escrow
Over the full 30 years that loan costs $390,568 in interest on top of the $312,000 borrowed. Escrow is 16% of the monthly payment in Virginia, so comparing quotes on principal and interest alone hides a large part of the real cost.
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