Virginia Mortgage Calculator
Use this free Virginia mortgage calculator to estimate your monthly mortgage payments and annual amortization.
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Getting a Mortgage in Virginia
Real estate markets can vary dramatically by location, which is why national housing averages don’t always reflect what buyers actually pay. Housing costs are just one part of affordability, and tools like a cost of living calculator can help show how factors such as taxes, utilities, and everyday expenses differ from place to place.
Mortgage costs in Virginia, lovingly called Old Dominion, vary depending on where you buy. In Loudoun County, home to some of the state’s most expensive housing markets in the Washington, D.C. metro area, the typical monthly mortgage payment for a median-priced home was $4,533 in Q1 2025, based on a median home value of $773,319, according to the National Association of Realtors. By comparison, the national median monthly payment was $2,120 for a median-priced single-family home valued at $402,300.
By contrast, Henrico County, part of the Richmond area, is more affordable. There, the typical monthly mortgage payment was $2,379 for a median-priced home valued at $405,875, reflecting more moderate home prices outside of Virginia’s highest-cost regions.
Virginia's first-time home buyer programs
The Virginia Housing Development Authority offers several loan programs to help qualified first-time home buyers get a mortgage.
Average property tax by county
| County | Avg. property tax rate | Median home value |
|---|---|---|
| Accomack County | 0.52% | $184,500 |
| Albemarle County | 0.71% | $486,900 |
| Alexandria city | 0.92% | $748,300 |
| Alleghany County | 0.7% | $123,600 |
| Amelia County | 0.44% | $233,700 |
| Amherst County | 0.53% | $181,600 |
| Appomattox County | 0.56% | $178,000 |
| Arlington County | 0.85% | $828,500 |
| Augusta County | 0.5% | $292,000 |
| Bath County | 0.39% | $184,900 |
| Bedford County | 0.44% | $291,500 |
| Bland County | 0.56% | $132,500 |
| Botetourt County | 0.62% | $264,200 |
| Bristol city | 0.75% | $154,900 |
| Brunswick County | 0.52% | $127,000 |
| Buchanan County | 0.48% | $84,900 |
| Buckingham County | 0.53% | $160,800 |
| Buena Vista city | 0.9% | $148,800 |
| Campbell County | 0.5% | $183,100 |
| Caroline County | 0.63% | $253,300 |
| Carroll County | 0.57% | $139,200 |
| Charles City County | 0.61% | $198,800 |
| Charlotte County | 0.49% | $137,000 |
| Charlottesville city | 0.82% | $398,400 |
| Chesapeake city | 0.83% | $365,700 |
| Chesterfield County | 0.8% | $344,200 |
| Clarke County | 0.63% | $496,600 |
| Colonial Heights city | 0.92% | $221,400 |
| Covington city | 0.82% | $80,100 |
| Craig County | 0.54% | $184,700 |
| Culpeper County | 0.55% | $369,600 |
| Cumberland County | 0.57% | $208,600 |
| Danville city | 0.68% | $102,000 |
| Dickenson County | 0.52% | $89,200 |
| Dinwiddie County | 0.67% | $223,800 |
| Emporia city | 0.71% | $129,400 |
| Essex County | 0.67% | $217,000 |
| Fairfax city | 0.88% | $649,600 |
| Fairfax County | 0.97% | $695,100 |
| Falls Church city | 1.22% | $938,500 |
| Fauquier County | 0.7% | $550,700 |
| Floyd County | 0.46% | $205,400 |
| Fluvanna County | 0.69% | $270,900 |
| Franklin city | 0.79% | $197,900 |
| Franklin County | 0.54% | $207,700 |
| Frederick County | 0.53% | $366,600 |
| Fredericksburg city | 0.62% | $438,400 |
| Galax city | 0.6% | $109,300 |
| Giles County | 0.56% | $141,900 |
| Gloucester County | 0.57% | $274,500 |
| Goochland County | 0.5% | $433,600 |
| Grayson County | 0.58% | $129,100 |
| Greene County | 0.64% | $287,800 |
| Greensville County | 0.58% | $146,600 |
| Halifax County | 0.52% | $133,200 |
| Hampton city | 0.97% | $250,000 |
| Hanover County | 0.67% | $372,600 |
| Harrisonburg city | 0.71% | $263,700 |
| Henrico County | 0.71% | $344,600 |
| Henry County | 0.52% | $111,800 |
| Highland County | 0.72% | $182,500 |
| Hopewell city | 0.94% | $151,600 |
| Isle of Wight County | 0.71% | $327,600 |
| James City County | 0.67% | $403,100 |
| King and Queen County | 0.52% | $212,500 |
| King George County | 0.56% | $372,300 |
| King William County | 0.69% | $252,200 |
| Lancaster County | 0.52% | $292,300 |
| Lee County | 0.57% | $95,800 |
| Lexington city | 0.88% | $224,700 |
| Loudoun County | 0.87% | $714,500 |
| Louisa County | 0.66% | $266,700 |
| Lunenburg County | 0.46% | $139,700 |
| Lynchburg city | 0.91% | $215,200 |
| Madison County | 0.52% | $311,500 |
| Manassas city | 0.78% | $393,900 |
| Manassas Park city | 1.06% | $370,700 |
| Martinsville city | 0.86% | $82,800 |
| Mathews County | 0.49% | $355,900 |
| Mecklenburg County | 0.55% | $157,800 |
| Middlesex County | 0.57% | $288,900 |
| Montgomery County | 0.86% | $315,800 |
| Nelson County | 0.67% | $275,100 |
| New Kent County | 0.66% | $354,200 |
| Newport News city | 0.99% | $240,900 |
| Norfolk city | 0.94% | $269,500 |
| Northampton County | 0.68% | $246,300 |
| Northumberland County | 0.55% | $303,700 |
| Norton city | 0.92% | $104,200 |
| Nottoway County | 0.48% | $169,500 |
| Orange County | 0.6% | $316,000 |
| Page County | 0.55% | $198,000 |
| Patrick County | 0.56% | $137,200 |
| Petersburg city | 0.95% | $147,200 |
| Pittsylvania County | 0.57% | $144,100 |
| Poquoson city | 0.92% | $406,700 |
| Portsmouth city | 1.09% | $231,700 |
| Powhatan County | 0.61% | $356,500 |
| Prince Edward County | 0.49% | $193,400 |
| Prince George County | 0.69% | $252,300 |
| Prince William County | 0.92% | $512,500 |
| Pulaski County | 0.62% | $181,700 |
| Radford city | 0.66% | $204,700 |
| Rappahannock County | 0.54% | $509,500 |
| Richmond city | 0.89% | $346,800 |
| Richmond County | 0.62% | $218,600 |
| Roanoke city | 0.9% | $183,400 |
| Roanoke County | 0.87% | $268,600 |
| Rockbridge County | 0.56% | $232,100 |
| Rockingham County | 0.57% | $319,000 |
| Russell County | 0.55% | $112,000 |
| Salem city | 0.79% | $231,900 |
| Scott County | 0.67% | $122,300 |
| Shenandoah County | 0.56% | $247,600 |
| Smyth County | 0.59% | $120,600 |
| Southampton County | 0.73% | $199,700 |
| Spotsylvania County | 0.63% | $391,900 |
| Stafford County | 0.7% | $478,200 |
| Staunton city | 0.54% | $219,500 |
| Suffolk city | 0.88% | $328,200 |
| Surry County | 0.6% | $231,400 |
| Sussex County | 0.6% | $151,000 |
| Tazewell County | 0.64% | $112,200 |
| Virginia Beach city | 0.82% | $370,300 |
| Warren County | 0.56% | $293,400 |
| Washington County | 0.54% | $181,000 |
| Waynesboro city | 0.68% | $226,700 |
| Westmoreland County | 0.63% | $244,000 |
| Williamsburg city | 0.51% | $385,600 |
| Winchester city | 0.75% | $299,900 |
| Wise County | 0.56% | $108,000 |
| Wythe County | 0.56% | $157,100 |
| York County | 0.66% | $412,100 |
How to use the mortgage calculator
To use our mortgage calculator, simply add your details to the following fields:
Home price
Down payment
Interest rate
Loan term (years)
After you enter these four pieces of information, the calculator displays the monthly payment inside the "Loan Estimate" window. It also displays:
Total principal
Total interest payments
Total loan payments
Payoff date
Calculating costs in addition to principal and interest
The calculator lets you fine-tune your payment by entering your annual property tax premium, annual home insurance premium, monthly homeowner association (HOA) fee, and monthly private mortgage insurance (PMI) premium.
To enter this information, click “Show Advanced Info” underneath the main loan details. Note that you'll enter the annual cost for property taxes and home insurance and the monthly cost for HOA fees and PMI premiums. The PMI field will only display if your down payment is less than 20%.
In the “Loan Estimate” window, select "Amortization Schedule" to uncover a table that shows how much you'll pay in principal and interest each month, as well as the remaining amount you owe ("Principal balance") after making the payment.
» MORE: What is mortgage amortization?
Explanation of terminology
Total monthly payment: An estimate of all your monthly housing costs, covering your loan principal, interest, taxes, insurance, and PMI.
Total principal: This is the amount you borrow. Each mortgage payment reduces the principal you owe.
Total interest payments: How much interest you would pay over the life of the loan.
Total loan payments: The entire amount of principal and interest paid, excluding taxes, insurance, and PMI.
Down payment: The portion of the home’s price you pay in cash upfront.
Interest rate: How much the lender charges you to lend you the money. Interest rates are expressed as an annual percentage. A lower interest rate gives you a smaller monthly payment.
Loan term (years): The number of years you have to repay the mortgage. A longer term gives you a lower monthly payment, but you’ll pay more interest.
Start date: The month that your first mortgage payment is due.
Payoff date: The month your home will be fully paid off based on the loan term.
Property taxes: The annual tax assessed by a government authority on your home and land. You pay about one-twelfth of your annual property tax bill with each mortgage payment, and the servicer saves them in an escrow account. When the taxes are due, the loan servicer pays them.
Homeowners insurance: Your policy covers damage and financial losses from fire, storms, theft, a tree falling on your house and other bad things. As with property taxes, you pay roughly one-twelfth of your annual homeowners insurance premium each month, and the servicer pays the bill when it's due.
Monthly HOA fees: The amount you may pay each month if you belong to a homeowners association. Typically, these dues are billed directly, not added to the monthly mortgage payment. Because HOA dues can be easy to forget when considering the cost of homeownership, NerdWallet's mortgage calculator allows you to enter them here.
Private mortgage insurance: If you get a conventional mortgage and put down less than 20%, you’ll have to pay a monthly PMI premium. It covers the lender if you default on the loan and can be canceled once you reach 20% equity. FHA loans require a similar fee called a mortgage insurance premium.
If you're looking to see how much you could save by refinancing your mortgage, try NerdWallet's refinance calculator.
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