Mortgage Calculator for Virginia
Estimate your monthly payment in Virginia using adjustable example inputs and official housing resources.
Enter Your Loan Details
Defaults are illustrative inputs, not local averages. Replace taxes, insurance and rate with property-specific estimates.
Planning a purchase in Virginia
The prefilled price, tax percentage, and interest rate are illustrative inputs, not verified Virginia averages or lender quotes. Replace them with the property's price, a local tax estimate, an insurance quote, and your lender's rate.
Keep recordation taxes outside monthly property taxes
Virginia applies recordation taxes to recorded real estate documents, and local recordation taxes can accompany the state charge. These transaction costs differ from recurring real estate taxes billed by a locality; combining them in an annual tax field would distort the monthly estimate.
For your estimate: Ask the settlement agent for applicable recordation charges and include them in cash to close. Enter only recurring annual property taxes in the calculator’s tax input.
Virginia Tax: recordation tax ruling 25-39Identify the specific Virginia Housing grant
Virginia Housing’s named Down Payment Assistance Grant does not require repayment and is available with eligible Virginia Housing financing. That feature belongs to the grant product; it should not be assumed for every assistance option a lender may present alongside a mortgage.
For your estimate: Obtain written confirmation of the grant and first-mortgage eligibility before using it in your closing budget. Use the actual down payment in the calculator and compare the full lender offer.
Virginia Housing: loans and grantsLocal guidance reviewed . Confirm eligibility, funding and property-specific costs directly before making a decision.
Using local estimates in this tool
The tax field multiplies the home's price by a percentage. If your assessor estimates an annual tax bill, divide that bill by the entered home price and multiply by 100. Do not enter an assessment ratio or millage directly. For example, an illustrative $4,800 annual bill on a $400,000 price corresponds to 1.2%; these are not local averages.
This payment includes principal, interest, property tax and home insurance. Budget mortgage insurance, HOA dues, maintenance and closing costs separately.
Official resources and next steps
HUD housing and homeownership resources for Virginia provides further counseling and housing contacts.
For FHA financing, use HUD's county and unit-count lookup. Select Virginia, the property's county, the calendar year, and the number of units. The 2026 national one-unit floor of $541,287 is a baseline, not a determination of the limit for every county in Virginia.
HUD directory reviewed 2026-09-25. HUD state directory. Local figures are not represented as verified statistics.
Amortization Schedule
| Year | Principal Paid | Interest Paid | Tax Paid | Insurance Paid | Balance |
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How to Use This Mortgage Calculator in Virginia
Enter the price of the property you are considering in Virginia, then adjust the down payment and rate. The payment combines principal, interest, property tax, and insurance. It does not include HOA dues, maintenance, or mortgage insurance.
For example, at the illustrative price of $372,000 and 6% down, the base loan is $349,680. These are calculation examples, not a statement about prices or typical buyers in Virginia.
Compare the same home under different rates and down payments. A lower monthly payment from a longer term can still mean more lifetime interest. Confirm taxes and insurance for the property before relying on the estimate.