Mortgage on a $200K house in Virginia
$1,295 a month with 20% down — $1,076 principal and interest plus $118 property tax and $100 insurance.
Virginia's typical property tax is 0.71% of the home's value a year (U.S. average 0.9%), which adds $118 a month on a $200K home. The typical home in Virginia is worth $412,252, so $200K is 51% below the typical price.
$200K home in Virginia: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $40,000 | $160,000 | $1,076 | $0 | $218 | $1,295 | $55,500 |
| 10% down | $20,000 | $180,000 | $1,211 | $75 | $218 | $1,504 | $64,500 |
| 5% down | $10,000 | $190,000 | $1,278 | $79 | $218 | $1,576 | $67,500 |
| 3.5% down (FHA) | $7,000 | $196,378 | $1,321 | $88 | $218 | $1,628 | $69,800 |
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 $200K buy a typical home?
In these counties the typical home value is within 15% of $200K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Charlotte County | $198,283 | 0.52% | $1,264 |
| Petersburg City | $196,761 | 0.81% | $1,311 |
| Nottoway County | $195,140 | 0.45% | $1,252 |
| Pittsylvania County | $193,773 | 0.59% | $1,274 |
| Giles County | $206,518 | 0.61% | $1,279 |
| Patrick County | $192,865 | 0.55% | $1,268 |
| Grayson County | $207,245 | 0.56% | $1,270 |
| Buena Vista City | $190,494 | 0.91% | $1,328 |
| Mecklenburg County | $209,597 | 0.45% | $1,251 |
| Wythe County | $210,800 | 0.53% | $1,264 |
| Alleghany County | $187,513 | 0.79% | $1,309 |
| Carroll County | $185,932 | 0.53% | $1,265 |
30 of 133 Virginia counties tracked by Zillow have a typical home value at or below $200K. See all Virginia home prices.
Other prices in Virginia
Frequently asked questions
What is the mortgage on a $200K house in Virginia?
About $1,295 a month with 20% down at 7.11%: $1,076 principal and interest, $118 property tax and $100 insurance.
How much do I need to make to buy a $200K house in Virginia?
About $55,500 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $200K house in Virginia?
At Virginia's typical effective rate of 0.71%, about $1,421 a year. Rates vary by county and city — see the county pages.