Mortgage on a $350K house in Virginia
$2,266 a month with 20% down — $1,884 principal and interest plus $207 property tax and $175 insurance.
Virginia's typical property tax is 0.71% of the home's value a year (U.S. average 0.9%), which adds $207 a month on a $350K home. The typical home in Virginia is worth $412,252, so $350K is 15% below the typical price.
$350K home in Virginia: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $70,000 | $280,000 | $1,884 | $0 | $382 | $2,266 | $97,100 |
| 10% down | $35,000 | $315,000 | $2,119 | $131 | $382 | $2,633 | $112,800 |
| 5% down | $17,500 | $332,500 | $2,237 | $139 | $382 | $2,758 | $118,200 |
| 3.5% down (FHA) | $12,250 | $343,661 | $2,312 | $155 | $382 | $2,849 | $122,100 |
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 $350K buy a typical home?
In these counties the typical home value is within 15% of $350K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Mathews County | $349,114 | 0.43% | $2,184 |
| Bedford County | $351,809 | 0.43% | $2,185 |
| Winchester City | $351,816 | 0.76% | $2,279 |
| King William County | $352,179 | 0.55% | $2,218 |
| Lexington City | $354,128 | 0.81% | $2,294 |
| Prince George County | $356,119 | 0.74% | $2,276 |
| Caroline County | $359,075 | 0.52% | $2,210 |
| Shenandoah County | $340,191 | 0.52% | $2,210 |
| Rockingham County | $361,245 | 0.53% | $2,212 |
| Montgomery County | $338,166 | 0.74% | $2,274 |
| Nelson County | $362,239 | 0.5% | $2,206 |
| Franklin County | $363,796 | 0.5% | $2,204 |
78 of 133 Virginia counties tracked by Zillow have a typical home value at or below $350K. See all Virginia home prices.
Other prices in Virginia
Frequently asked questions
What is the mortgage on a $350K house in Virginia?
About $2,266 a month with 20% down at 7.11%: $1,884 principal and interest, $207 property tax and $175 insurance.
How much do I need to make to buy a $350K house in Virginia?
About $97,100 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $350K house in Virginia?
At Virginia's typical effective rate of 0.71%, about $2,487 a year. Rates vary by county and city — see the county pages.