Mortgage on a $150K house in Virginia
$971 a month with 20% down — $807 principal and interest plus $89 property tax and $75 insurance.
Virginia's typical property tax is 0.71% of the home's value a year (U.S. average 0.9%), which adds $89 a month on a $150K home. The typical home in Virginia is worth $412,252, so $150K is 64% below the typical price.
$150K home in Virginia: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $30,000 | $120,000 | $807 | $0 | $164 | $971 | $41,600 |
| 10% down | $15,000 | $135,000 | $908 | $56 | $164 | $1,128 | $48,400 |
| 5% down | $7,500 | $142,500 | $959 | $59 | $164 | $1,182 | $50,600 |
| 3.5% down (FHA) | $5,250 | $147,283 | $991 | $66 | $164 | $1,221 | $52,300 |
Assumes a 30-year fixed loan at 7.11%, property tax of 0.71% of the home value a year, homeowners insurance of 0.6% a year, PMI of 0.5% of the loan a year when the down payment is under 20%, and FHA mortgage insurance of 0.55% a year plus a 1.75% upfront premium added to the loan. Your rate, taxes and insurance will differ.
Where in Virginia does $150K buy a typical home?
In these counties the typical home value is within 15% of $150K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Halifax County | $151,216 | 0.46% | $940 |
| Emporia City | $151,757 | 0.79% | $981 |
| Brunswick County | $152,538 | 0.57% | $954 |
| Tazewell County | $144,973 | 0.62% | $959 |
| Lunenburg County | $143,388 | 0.39% | $930 |
| Russell County | $143,358 | 0.48% | $942 |
| Henry County | $141,597 | 0.47% | $941 |
| Smyth County | $163,239 | 0.58% | $954 |
| Greensville County | $163,665 | 0.54% | $949 |
| Wise County | $135,234 | 0.58% | $955 |
| Danville City | $133,231 | 0.65% | $963 |
| Scott County | $168,070 | 0.62% | $960 |
12 of 133 Virginia counties tracked by Zillow have a typical home value at or below $150K. See all Virginia home prices.
Other prices in Virginia
Frequently asked questions
What is the mortgage on a $150K house in Virginia?
About $971 a month with 20% down at 7.11%: $807 principal and interest, $89 property tax and $75 insurance.
How much do I need to make to buy a $150K house in Virginia?
About $41,600 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $150K house in Virginia?
At Virginia's typical effective rate of 0.71%, about $1,066 a year. Rates vary by county and city — see the county pages.