Virginia Mortgage Calculator 2026

Calculate your monthly mortgage payment for a home in Virginia (VA). The median home price in Virginia is $360,700, with an effective property tax rate of 0.74% (ranked #33 nationally). Use our free calculator to compare FHA, VA, USDA, and conventional loan options with real Virginia data.

Virginia Property Tax Information

Virginia has an effective property tax rate of 0.74%, ranking #33 among all 50 states. The median annual property tax is $2,686 ($224/month). Source: Tax Foundation 2025.

Virginia Loan Limits 2026

FHA loan limit in Virginia: $524,225 (floor) to $1,209,750 (ceiling for high-cost areas). Conforming loan limit: $806,500 (baseline) to $1,209,750 (ceiling). Virginia has designated high-cost areas with higher limits.

Estimated Monthly Payment in Virginia

For a median-priced home of $360,700 with 20% down ($72,140), at 6.5% interest over 30 years: estimated monthly principal and interest is $1,824, plus $224 in property taxes and approximately $125 in homeowner's insurance, for a total estimated payment of approximately $2,173/month.

Virginia Closing Costs

Average closing costs in Virginia are $6,817 (1.36% of purchase price), ranked #9 nationally. Virginia charges a transfer tax on real estate transactions. Source: Bankrate/LodeStar 2025.

Virginia Housing Market 2026

Home prices in Virginia have increased 4.2% year-over-year. Average days on market: 28. Inventory level: low. Currently considered a seller's market.

Down Payment Assistance Programs in Virginia

Virginia offers 3 down payment assistance programs through Virginia Housing Development Authority (VHDA):

  • Closing Cost Assistance Grant (grant): Non-repayable grant for eligible first-time buyers. - Up to Up to 2% of purchase price
  • Down Payment Assistance Grant (grant): Combined with Closing Cost grant for up to 4.5% total. - Up to Up to 2.5% of purchase price
  • Plus Second Mortgage (second mortgage): 0% interest, no monthly payment deferred loan. - Up to Up to 3-5% of purchase price

Contact VHDA: https://www.vhda.com | Phone: 804-782-1986

Did You Know About Virginia?

  • Northern Virginia counties have high-cost loan limits (DC suburbs)
  • Grantor's tax of 0.5% plus recordation tax adds to closing costs
  • Richmond and Hampton Roads offer more affordable options
  • Strong job market in government, tech, and defense

Frequently Asked Questions About Buying a Home in Virginia

What is the average property tax rate in Virginia?

The effective property tax rate in Virginia is 0.74%, with a median annual tax of $2,686. This ranks #33 among all states.

What are the FHA loan limits in Virginia for 2026?

The FHA loan floor in Virginia is $524,225 and the ceiling is $1,209,750 for high-cost areas. The conforming loan limit baseline is $806,500.

How much are closing costs in Virginia?

Average closing costs in Virginia are $6,817, which is approximately 1.36% of the purchase price.

Are there first-time homebuyer programs in Virginia?

Yes, Virginia offers 3 down payment assistance programs through Virginia Housing Development Authority, including grants, forgivable loans, and second mortgages.

Is Virginia a good place to buy a home in 2026?

With a median home price of $360,700 and low inventory, Virginia is currently a seller's market. Home prices have increased 4.2% over the past year.

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Data last updated: 2025-11. This information is for educational purposes only and should not be considered financial advice.