Mortgage on a $250K house in Virginia
$1,618 a month with 20% down — $1,345 principal and interest plus $148 property tax and $125 insurance.
Virginia's typical property tax is 0.71% of the home's value a year (U.S. average 0.9%), which adds $148 a month on a $250K home. The typical home in Virginia is worth $412,252, so $250K is 39% below the typical price.
$250K home in Virginia: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $50,000 | $200,000 | $1,345 | $0 | $273 | $1,618 | $69,400 |
| 10% down | $25,000 | $225,000 | $1,514 | $94 | $273 | $1,880 | $80,600 |
| 5% down | $12,500 | $237,500 | $1,598 | $99 | $273 | $1,970 | $84,400 |
| 3.5% down (FHA) | $8,750 | $245,472 | $1,651 | $111 | $273 | $2,035 | $87,200 |
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 $250K buy a typical home?
In these counties the typical home value is within 15% of $250K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Buckingham County | $247,828 | 0.52% | $1,579 |
| Accomack County | $245,873 | 0.48% | $1,571 |
| Prince Edward County | $244,569 | 0.43% | $1,559 |
| Richmond County | $244,453 | 0.56% | $1,587 |
| Lynchburg City | $243,511 | 0.79% | $1,634 |
| Washington County | $258,078 | 0.5% | $1,574 |
| Craig County | $241,906 | 0.56% | $1,588 |
| Amherst County | $262,078 | 0.46% | $1,566 |
| Franklin City | $235,735 | 0.71% | $1,618 |
| Radford City | $265,800 | 0.72% | $1,620 |
| Portsmouth City | $266,486 | 1.04% | $1,686 |
| Campbell County | $273,460 | 0.45% | $1,564 |
45 of 133 Virginia counties tracked by Zillow have a typical home value at or below $250K. See all Virginia home prices.
Other prices in Virginia
Frequently asked questions
What is the mortgage on a $250K house in Virginia?
About $1,618 a month with 20% down at 7.11%: $1,345 principal and interest, $148 property tax and $125 insurance.
How much do I need to make to buy a $250K house in Virginia?
About $69,400 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $250K house in Virginia?
At Virginia's typical effective rate of 0.71%, about $1,777 a year. Rates vary by county and city — see the county pages.