Mortgage for Virginia (2026)
Virginia (VA) Key Facts
Median Home Price
$380,000
Average Property Tax Rate
0.82%
Average Home Insurance Rate
0.5%
Estimated Monthly Payment
$2,636
First Time Buyer Programs
2
How This Calculator Works in Virginia
This mortgage calculator lets you estimate your monthly payment on a Virginia home by factoring in the purchase price, down payment, interest rate, property taxes, and insurance. It is pre-loaded with Virginia's average property tax rate and insurance costs so you can get a realistic estimate quickly. Adjust the inputs to match your specific situation and see how different scenarios affect your monthly budget.
Virginia Overview
Virginia has a median home price of approximately $380K, with an average property tax rate of 0.82% and homeowners insurance averaging 0.5% annually. Grantor tax of $1 per $1K plus regional congestion tax in NoVA. Virginia Housing Loan programs and other state programs can help first-time buyers with down payment assistance and competitive mortgage rates.
How Virginia Compares
Compared to neighboring states, Virginia's median home price of $380,000 is below the national median of about $420,000. Nearby Maryland has a median price of $400,000 with a 1.07% property tax rate. Property tax rates vary significantly among neighboring states, which can substantially impact long-term homeownership costs.
| State | Top Rate | Notes |
|---|---|---|
| Maryland | $400,000 | Median home price is $400,000 with a 1.07% property tax rate. Estimated monthly mortgage payment is about $2,875. |
| North Carolina | $325,000 | Median home price is $325,000 with a 0.84% property tax rate. Estimated monthly mortgage payment is about $2,287. |
| West Virginia | $160,000 | Median home price is $160,000 with a 0.58% property tax rate. Estimated monthly mortgage payment is about $1,098. |
The median home price in Virginia is $380,000, compared to the national median of approximately $420,000. With a 0.82% average property tax rate and 0.5% insurance rate, Virginia homeowners can expect an estimated monthly payment of about $2,636 on a median-priced home with 10% down at 6.75% interest.
Tips for Virginia Residents
- 1Virginia has a median home price around $380K. Grantor tax of $1 per $1K plus regional congestion tax in NoVA. Research local market conditions as prices vary significantly by city and neighborhood.
- 2Property taxes in Virginia average 0.82%. Always verify your specific county's tax rate, as it directly impacts your monthly payment.
- 3Explore Virginia Housing Loan programs for potential down payment assistance and favorable rates. Virginia also offers VHDA Down Payment Assistance Grant. Check income limits and eligibility early in your home search.
- 4Northern Virginia significantly more expensive than rest of state. Budget 2-5% of the purchase price for closing costs including lender fees, title insurance, and prepaid expenses.
- 5Recordation tax varies. A 0.25% rate difference on a $380K home can save thousands over the life of your loan, so shop at least 3-4 lenders before committing.
Frequently Asked Questions
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