Typical Virginia mortgage payment
The median home price in Virginia is roughly $400,000. Here's the estimated monthly principal & interest payment on that amount, by rate and term:
| Rate | 15-year | 30-year |
|---|---|---|
| 5.00% | $3,163 | $2,147 |
| 5.50% | $3,268 | $2,271 |
| 6.00% | $3,375 | $2,398 |
| 6.50% | $3,484 | $2,528 |
| 7.00% | $3,595 | $2,661 |
| 7.50% | $3,708 | $2,797 |
| 8.00% | $3,823 | $2,935 |
At 6.50% over 30 years, a $400,000 home in Virginia costs about $2,528/month in principal & interest.
What affects your Virginia payment?
- Property taxes & insurance vary by county and aren't included above.
- Down payment: 20% down avoids private mortgage insurance (PMI).
- Loan term: a 15-year loan saves enormous interest vs. 30 years.
Median price is an approximate estimate. Figures are principal & interest only and exclude taxes, insurance and fees. Not financial advice.