Mortgage on a $400K house in Virginia
$2,590 a month with 20% down — $2,153 principal and interest plus $237 property tax and $200 insurance.
Virginia's typical property tax is 0.71% of the home's value a year (U.S. average 0.9%), which adds $237 a month on a $400K home. The typical home in Virginia is worth $412,252, so $400K is right at the typical price.
$400K home in Virginia: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $80,000 | $320,000 | $2,153 | $0 | $437 | $2,590 | $111,000 |
| 10% down | $40,000 | $360,000 | $2,422 | $150 | $437 | $3,009 | $128,900 |
| 5% down | $20,000 | $380,000 | $2,556 | $158 | $437 | $3,151 | $135,100 |
| 3.5% down (FHA) | $14,000 | $392,755 | $2,642 | $177 | $437 | $3,256 | $139,500 |
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 $400K buy a typical home?
In these counties the typical home value is within 15% of $400K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Henrico County | $397,454 | 0.71% | $2,591 |
| Lancaster County | $397,428 | 0.48% | $2,511 |
| Warren County | $394,470 | 0.52% | $2,527 |
| Chesterfield County | $410,086 | 0.76% | $2,605 |
| Suffolk City | $387,665 | 0.93% | $2,662 |
| Williamsburg City | $414,600 | 0.59% | $2,549 |
| Isle of Wight County | $383,688 | 0.7% | $2,587 |
| Greene County | $382,417 | 0.61% | $2,555 |
| Orange County | $380,385 | 0.55% | $2,535 |
| Middlesex County | $380,242 | 0.5% | $2,521 |
| Louisa County | $419,890 | 0.6% | $2,552 |
| Madison County | $420,931 | 0.53% | $2,530 |
100 of 133 Virginia counties tracked by Zillow have a typical home value at or below $400K. See all Virginia home prices.
Other prices in Virginia
Frequently asked questions
What is the mortgage on a $400K house in Virginia?
About $2,590 a month with 20% down at 7.11%: $2,153 principal and interest, $237 property tax and $200 insurance.
How much do I need to make to buy a $400K house in Virginia?
About $111,000 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $400K house in Virginia?
At Virginia's typical effective rate of 0.71%, about $2,842 a year. Rates vary by county and city — see the county pages.