Mortgage on a $500K house in Virginia
$3,237 a month with 20% down — $2,691 principal and interest plus $296 property tax and $250 insurance.
Virginia's typical property tax is 0.71% of the home's value a year (U.S. average 0.9%), which adds $296 a month on a $500K home. The typical home in Virginia is worth $412,252, so $500K is 21% above the typical price.
$500K home in Virginia: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $100,000 | $400,000 | $2,691 | $0 | $546 | $3,237 | $138,700 |
| 10% down | $50,000 | $450,000 | $3,027 | $188 | $546 | $3,761 | $161,200 |
| 5% down | $25,000 | $475,000 | $3,195 | $198 | $546 | $3,939 | $168,800 |
| 3.5% down (FHA) | $17,500 | $490,944 | $3,303 | $221 | $546 | $4,070 | $174,400 |
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 $500K buy a typical home?
In these counties the typical home value is within 15% of $500K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Powhatan County | $494,273 | 0.59% | $3,186 |
| Culpeper County | $488,600 | 0.52% | $3,159 |
| James City County | $484,205 | 0.65% | $3,211 |
| Charlottesville City | $483,274 | 0.8% | $3,276 |
| Manassas City | $481,776 | 1.09% | $3,397 |
| King George County | $476,101 | 0.53% | $3,160 |
| Fredericksburg City | $467,891 | 0.6% | $3,191 |
| Stafford County | $534,189 | 0.7% | $3,234 |
| York County | $463,575 | 0.64% | $3,210 |
| Poquoson City | $460,122 | 0.92% | $3,325 |
| Spotsylvania County | $456,909 | 0.58% | $3,182 |
| Hanover County | $456,445 | 0.66% | $3,214 |
120 of 133 Virginia counties tracked by Zillow have a typical home value at or below $500K. See all Virginia home prices.
Other prices in Virginia
Frequently asked questions
What is the mortgage on a $500K house in Virginia?
About $3,237 a month with 20% down at 7.11%: $2,691 principal and interest, $296 property tax and $250 insurance.
How much do I need to make to buy a $500K house in Virginia?
About $138,700 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $500K house in Virginia?
At Virginia's typical effective rate of 0.71%, about $3,553 a year. Rates vary by county and city — see the county pages.