Virginia Mortgage Calculator

Virginia mortgage and refinance loan payment calculator

Search calculator by state:

Our Virginia mortgage calculator enables you to estimate your monthly mortgage payment, including the following:

  • Principal and interest
  • Taxes
  • Insurance
  • Private Mortgage Insurance (PMI)

Your monthly payment changes when updating the home price, down payment, interest rate, and loan term.

Housing affordability continues to fluctuate across Virginia. The housing trends vary in the Old Dominion, Mother of Presidents, with larger communities exhibiting higher home prices than smaller, more rural areas. Even within Virginia Beach, Norfolk, Chesapeake, the market varies among neighborhoods. Each area will have a slightly different trend such as Fairfax County, Prince William County and Virginia Beach City/County.

$

10%

1%

3%

$
$

$1421

Monthly Payment

Principal & Interest $1421

Monthly Taxes $1421

Monthly HOA $1421

Monthly Insurance $1421

We've included the conforming loan amounts and the estimated property tax rates for each county. This is important because mortgage interest rates are significantly different for home loans above the amounts listed. Please check with your loan officer, bank, lender to verify the conforming loan amounts in your county.

County

Property tax rate

Conforming limit

Accomack County

0.55%

$548,250

Albemarle County

0.73%

$548,250

Alleghany County

0.70%

$548,250

Amelia County

0.40%

$535,900

Amherst County

0.55%

$548,250

Appomattox County

0.58%

$548,250

Arlington County

0.90%

$822,375

Augusta County

0.54%

$548,250

Bath County

0.45%

$548,250

Bedford County

0.51%

$548,250

Bland County

0.72%

$548,250

Botetourt County

0.66%

$548,250

Brunswick County

0.50%

$548,250

Buchanan County

0.48%

$548,250

Buckingham County

0.54%

$548,250

Campbell County

0.52%

$548,250

Caroline County

0.71%

$535,900

Carroll County

0.73%

$548,250

Charles City

0.63%

$535,900

Charlotte County

0.55%

$548,250

Chesterfield County

0.88%

$535,900

Clarke County

0.64%

$822,375

Craig County

0.55%

$548,250

Culpeper County

0.65%

$822,375

Cumberland County

0.67%

$535,900

Dickenson County

0.61%

$548,250

Dinwiddie County

0.71%

$535,900

Essex County

0.74%

$548,250

Fairfax County

1.03%

$822,375

Fauquier County

0.84%

$822,375

Floyd County

0.61%

$548,250

Fluvanna County

0.72%

$548,250

Franklin County

0.55%

$548,250

Frederick County

0.53%

$548,250

Giles County

0.71%

$548,250

Gloucester County

0.62%

$548,250

Goochland County

0.51%

$535,900

Grayson County

0.66%

$548,250

Greene County

0.68%

$548,250

Greensville County

0.76%

$548,250

Halifax County

0.52%

$548,250

Hanover County

0.70%

$535,900

Henrico County

0.81%

$535,900

Henry County

0.54%

$548,250

Highland County

0.49%

$548,250

Isle of Wight County

0.71%

$548,250

James City County

0.74%

$548,250

King and Queen County

0.56%

$548,250

King George County

0.54%

$548,250

King William County

0.79%

$548,250

Lancaster County

0.51%

$548,250

Lee County

0.62%

$548,250

Loudoun County

1.08%

$822,375

Louisa County

0.63%

$535,900

Lunenburg County

0.55%

$548,250

Madison County

0.66%

$822,375

Mathews County

0.62%

$548,250

Mecklenburg County

0.52%

$548,250

Middlesex County

0.53%

$548,250

Montgomery County

0.84%

$548,250

Nelson County

0.58%

$548,250

New Kent County

0.72%

$535,900

Northampton County

0.76%

$548,250

Northumberland County

0.44%

$548,250

Nottoway County

0.50%

$548,250

Orange County

0.68%

$548,250

Page County

0.73%

$548,250

Patrick County

0.59%

$548,250

Pittsylvania County

0.60%

$548,250

Powhatan County

0.75%

$535,900

Prince Edward County

0.49%

$548,250

Prince George County

0.73%

$535,900

Prince William County

1.05%

$822,375

Pulaski County

0.64%

$548,250

Rappahannock County

0.64%

$822,375

Richmond County

0.62%

$548,250

Roanoke County

0.96%

$548,250

Rockbridge County

0.65%

$548,250

Rockingham County

0.59%

$548,250

Russell County

0.62%

$548,250

Scott County

0.74%

$548,250

Shenandoah County

0.57%

$548,250

Smyth County

0.71%

$548,250

Southampton County

0.71%

$548,250

Spotsylvania County

0.67%

$822,375

Stafford County

0.81%

$822,375

Surry County

0.73%

$548,250

Sussex County

0.59%

$535,900

Tazewell County

0.67%

$548,250

Warren County

0.62%

$822,375

Washington County

0.61%

$548,250

Westmoreland County

0.58%

$548,250

Wise County

0.68%

$548,250

Wythe County

0.50%

$548,250

York County

0.71%

$548,250

Alexandria City

0.98%

$822,375

Bristol City

0.93%

$548,250

Buena Vista City

0.97%

$548,250

Charlottesville City

0.88%

$548,250

Chesapeake City

0.96%

$548,250

Colonial Heights City

1.07%

$535,900

Covington City

0.64%

$548,250

Danville City

0.71%

$548,250

Emporia City

0.68%

$548,250

Fairfax City

0.92%

$822,375

Falls Church City

1.20%

$822,375

Franklin City

0.76%

$548,250

Fredericksburg City

0.67%

$822,375

Galax City

0.73%

$548,250

Hampton City

1.08%

$548,250

Harrisonburg City

0.68%

$548,250

Hopewell City

1.02%

$548,250

Lexington City

0.96%

$548,250

Lynchburg City

0.95%

$548,250

Manassas City

1.13%

$822,375

Manassas Park City

1.27%

$822,375

Martinsville City

0.88%

$548,250

Newport News City

1.14%

$548,250

Norfolk City

1.11%

$548,250

Norton City

0.74%

$548,250

Petersburg City

1.20%

$535,900

Poquoson City

0.91%

$548,250

Portsmouth City

1.25%

$548,250

Radford City

0.66%

$548,250

Richmond City

1.01%

$535,900

Roanoke City

1.02%

$548,250

Salem City

1.04%

$548,250

Staunton City

0.87%

$548,250

Suffolk City

0.97%

$548,250

Virginia Beach City

0.88%

$548,250

Waynesboro City

0.75%

$548,250

Williamsburg City

0.57%

$548,250

Winchester City

0.82%

$548,250

County

Tax Rate

Limit

Accomack County

0.55%

$548,250

Albemarle County

0.73%

$548,250

Alleghany County

0.70%

$548,250

Amelia County

0.40%

$535,900

Amherst County

0.55%

$548,250

Appomattox County

0.58%

$548,250

Arlington County

0.90%

$822,375

Augusta County

0.54%

$548,250

Bath County

0.45%

$548,250

Bedford County

0.51%

$548,250

Bland County

0.72%

$548,250

Botetourt County

0.66%

$548,250

Brunswick County

0.50%

$548,250

Buchanan County

0.48%

$548,250

Buckingham County

0.54%

$548,250

Campbell County

0.52%

$548,250

Caroline County

0.71%

$535,900

Carroll County

0.73%

$548,250

Charles City

0.63%

$535,900

Charlotte County

0.55%

$548,250

Chesterfield County

0.88%

$535,900

Clarke County

0.64%

$822,375

Craig County

0.55%

$548,250

Culpeper County

0.65%

$822,375

Cumberland County

0.67%

$535,900

Dickenson County

0.61%

$548,250

Dinwiddie County

0.71%

$535,900

Essex County

0.74%

$548,250

Fairfax County

1.03%

$822,375

Fauquier County

0.84%

$822,375

Floyd County

0.61%

$548,250

Fluvanna County

0.72%

$548,250

Franklin County

0.55%

$548,250

Frederick County

0.53%

$548,250

Giles County

0.71%

$548,250

Gloucester County

0.62%

$548,250

Goochland County

0.51%

$535,900

Grayson County

0.66%

$548,250

Greene County

0.68%

$548,250

Greensville County

0.76%

$548,250

Halifax County

0.52%

$548,250

Hanover County

0.70%

$535,900

Henrico County

0.81%

$535,900

Henry County

0.54%

$548,250

Highland County

0.49%

$548,250

Isle of Wight County

0.71%

$548,250

James City County

0.74%

$548,250

King and Queen County

0.56%

$548,250

King George County

0.54%

$548,250

King William County

0.79%

$548,250

Lancaster County

0.51%

$548,250

Lee County

0.62%

$548,250

Loudoun County

1.08%

$822,375

Louisa County

0.63%

$535,900

Lunenburg County

0.55%

$548,250

Madison County

0.66%

$822,375

Mathews County

0.62%

$548,250

Mecklenburg County

0.52%

$548,250

Middlesex County

0.53%

$548,250

Montgomery County

0.84%

$548,250

Nelson County

0.58%

$548,250

New Kent County

0.72%

$535,900

Northampton County

0.76%

$548,250

Northumberland County

0.44%

$548,250

Nottoway County

0.50%

$548,250

Orange County

0.68%

$548,250

Page County

0.73%

$548,250

Patrick County

0.59%

$548,250

Pittsylvania County

0.60%

$548,250

Powhatan County

0.75%

$535,900

Prince Edward County

0.49%

$548,250

Prince George County

0.73%

$535,900

Prince William County

1.05%

$822,375

Pulaski County

0.64%

$548,250

Rappahannock County

0.64%

$822,375

Richmond County

0.62%

$548,250

Roanoke County

0.96%

$548,250

Rockbridge County

0.65%

$548,250

Rockingham County

0.59%

$548,250

Russell County

0.62%

$548,250

Scott County

0.74%

$548,250

Shenandoah County

0.57%

$548,250

Smyth County

0.71%

$548,250

Southampton County

0.71%

$548,250

Spotsylvania County

0.67%

$822,375

Stafford County

0.81%

$822,375

Surry County

0.73%

$548,250

Sussex County

0.59%

$535,900

Tazewell County

0.67%

$548,250

Warren County

0.62%

$822,375

Washington County

0.61%

$548,250

Westmoreland County

0.58%

$548,250

Wise County

0.68%

$548,250

Wythe County

0.50%

$548,250

York County

0.71%

$548,250

Alexandria City

0.98%

$822,375

Bristol City

0.93%

$548,250

Buena Vista City

0.97%

$548,250

Charlottesville City

0.88%

$548,250

Chesapeake City

0.96%

$548,250

Colonial Heights City

1.07%

$535,900

Covington City

0.64%

$548,250

Danville City

0.71%

$548,250

Emporia City

0.68%

$548,250

Fairfax City

0.92%

$822,375

Falls Church City

1.20%

$822,375

Franklin City

0.76%

$548,250

Fredericksburg City

0.67%

$822,375

Galax City

0.73%

$548,250

Hampton City

1.08%

$548,250

Harrisonburg City

0.68%

$548,250

Hopewell City

1.02%

$548,250

Lexington City

0.96%

$548,250

Lynchburg City

0.95%

$548,250

Manassas City

1.13%

$822,375

Manassas Park City

1.27%

$822,375

Martinsville City

0.88%

$548,250

Newport News City

1.14%

$548,250

Norfolk City

1.11%

$548,250

Norton City

0.74%

$548,250

Petersburg City

1.20%

$535,900

Poquoson City

0.91%

$548,250

Portsmouth City

1.25%

$548,250

Radford City

0.66%

$548,250

Richmond City

1.01%

$535,900

Roanoke City

1.02%

$548,250

Salem City

1.04%

$548,250

Staunton City

0.87%

$548,250

Suffolk City

0.97%

$548,250

Virginia Beach City

0.88%

$548,250

Waynesboro City

0.75%

$548,250

Williamsburg City

0.57%

$548,250

Winchester City

0.82%

$548,250

Start the mortgage process today in Virginia

Start the process for either a purchase or refinance mortgage today and have a licensed loan officer in Virginia contact you for a custom quote.

In Virginia how do banks and lenders calculate what mortgage payment I can afford?

In Virginia the general rule of thumb for determining the mortgage amount a borrower can manage is 2 – 2.5 times your monthly GROSS income. For example, someone earning $100k annual can afford a $200k – $250k mortgage. However, this is only a general guideline and there is more to the process. In addition to your gross income, lenders take into consideration two ratios: the “front-end ratio” and the “back-end ratio.”  The front-end ratio is your mortgage-to-income ratio, representing the (monthly) amount of your income which you can dedicate to paying your mortgage. The ideal ratio is under 30%–although some lenders will allow you to exceed 40%. The back-end ratio is your debt-to-income (DTI) ratio, or the amount of gross income you must cover your debts (loans for cars, education, and credit cards, for example).  Most lenders want to see that number no more than 36% (36% of your income goes to paying debts).  Although there are other factors in determining your overall financial “health,” these best represent your ability to pay the mortgage.

In Virginia what are other costs that can increase my mortgage payment?

In Virginia the mortgage payment includes multiple factors, each which can increase (or decrease) the actual mortgage payment. Other than then actual cost of the home, you need to include the following variables:

  • Down Payment (the amount of money you pay up front, not borrowed from the lender)
  • Interest Expenses (the interest rate, the length of the loan and type—whether a fixed or adjustable interest rate)
  • Property Taxes (these vary with the community you are moving into)
  • Insurance (homeowner’s insurance rates will depend on your coverage and can fluctuate)
  • PMI (some lenders require insurance to protect them should you default on the loan)
  • HOA Fees (Some residential communities (especially condominiums and other PUDs) have maintenance fees for shared facilities and amenities offered in the development

In Virginia how do I calculate my mortgage payment?

When considering a new home purchase or whether to refinance your current mortgage, the best place to start is by estimating your monthly payment. You can utilize our free Virginia calculator to get a quick estimate. However, you will need a few numbers available:

Mortgage principal (how much you want to borrow—not necessarily the cost of the property).

Monthly interest rate (the fee you pay the bank to borrow money: check out current mortgage rates). This is usually reflected as an APR (annual percentage rate) and is translated to a monthly rate by dividing the rate by 12 (months).

Number of payments (how long do you want to pay on the mortgage). This is easy with a fixed mortgage, but not with an ARM, where the rate will change on a regular basis.

Property taxes (usually the cost of taxes is added to the mortgage payment & added to an escrow account, where the taxes are paid on your behalf at the end of the year).

Homeowner’s Insurance (since type and coverage vary widely, it is best to contact an agent to get some estimates).

PMI, if required (most lenders require this additional insurance when you put down less than 20% of the purchase price of the property).

Lock your mortgage rate today in Virginia

With a wide variety of financing options, our team of experts can help you find and lock in the best current rate for purchasing your home or refinancing your existing mortgage. Contact us to get started with a Virginia mortgage loan today!

Calculator questions?

Whether you are a math nerd who aspires to do the math by hand or simply want to understand how Virginia mortgage payments are calculated, the formula looks like this:

M = P [ i(1 + i)^n ] / [ (1 + i)^n – 1]

Key:

  • M = monthly mortgage payment
  • P = principal amount
  • I = monthly interest rate (usually listed as an annual percentage rate)
  • N = number of payments over the life of the loan (360 payments for 30 years, etc)

In Virginia if you are obtaining a fixed mortgage, whether it be 30, 15, or even 5 years, you are probably curious to see how much you are paying in interest.  One thing to remember is that in the U.S., interest is paid in arrears. So, your monthly payment includes interest for the 30 days BEFORE your due date. Since fixed mortgages are fully amortized installment loans, the amortization schedule shows how the split between principal and interest changes over time. In the early years of the mortgage term, most of your payment will go towards interest. However, as you pay down the principal, less interest will accrue and more of your payment is applied to the principal.

In Virginia the longer you finance your home for, the lower your monthly payments will be. Conversely, a shorter (or adjustable rate) term usually equates to a lower interest rate. Its important to run the numbers on multiple scenarios to find out what works best for you.

If you already have a mortgage and are looking for an opportunity to lower your current monthly payments, consider the following:

  • Refinance at a lower rate
  • Refinance to a longer term
  • Eliminate mortgage insurance
  • Apply for mortgage forbearance or loan modification (in case of financial hardship)

In Virginia an Amortization Schedule calculator provides a schedule of how much is paid for each portion of the mortgage payment over time. A mortgage calculator allows you to plug in the mortgage amount, term (number of payments) and the APR (interest rate per year) and determine the total you will pay in principal and interest over the life of the loan.

Mortgage calculator by state

Related searches: adjustable, conforming, jumbo, payment, loan, refinance, amortization, rate, payoff, simple, 30 year fixed, 20 year fixed, 15 year fixed, 10 year fixed, 10 year ARM, 7 year ARM, 5 year ARM, 3 year ARM, Virginia Beach mortgage calculator, Norfolk mortgage calculator, Chesapeake mortgage calculator, Arlington mortgage calculator, Richmond mortgage calculator

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