Mortgage on a $550K house in Virginia
$3,561 a month with 20% down — $2,960 principal and interest plus $326 property tax and $275 insurance.
Virginia's typical property tax is 0.71% of the home's value a year (U.S. average 0.9%), which adds $326 a month on a $550K home. The typical home in Virginia is worth $412,252, so $550K is 33% above the typical price.
$550K home in Virginia: payment by down payment
| Down payment | Cash down | Loan | Principal + interest | PMI / MIP | Tax + insurance | Total / month | Income needed |
|---|---|---|---|---|---|---|---|
| 20% down | $110,000 | $440,000 | $2,960 | $0 | $601 | $3,561 | $152,600 |
| 10% down | $55,000 | $495,000 | $3,330 | $206 | $601 | $4,137 | $177,300 |
| 5% down | $27,500 | $522,500 | $3,515 | $218 | $601 | $4,333 | $185,700 |
| 3.5% down (FHA) | $19,250 | $540,038 | $3,633 | $243 | $601 | $4,477 | $191,900 |
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 $550K buy a typical home?
In these counties the typical home value is within 15% of $550K:
| County | Typical home | Tax rate | Total / month |
|---|---|---|---|
| Albemarle County | $549,955 | 0.75% | $3,579 |
| Clarke County | $562,284 | 0.48% | $3,456 |
| Stafford County | $534,189 | 0.7% | $3,557 |
| Rappahannock County | $567,353 | 0.49% | $3,462 |
| Prince William County | $578,429 | 0.94% | $3,667 |
| Goochland County | $583,172 | 0.5% | $3,463 |
| Powhatan County | $494,273 | 0.59% | $3,505 |
| Culpeper County | $488,600 | 0.52% | $3,475 |
| James City County | $484,205 | 0.65% | $3,532 |
| Charlottesville City | $483,274 | 0.8% | $3,604 |
| Manassas City | $481,776 | 1.09% | $3,736 |
| King George County | $476,101 | 0.53% | $3,476 |
122 of 133 Virginia counties tracked by Zillow have a typical home value at or below $550K. See all Virginia home prices.
Other prices in Virginia
Frequently asked questions
What is the mortgage on a $550K house in Virginia?
About $3,561 a month with 20% down at 7.11%: $2,960 principal and interest, $326 property tax and $275 insurance.
How much do I need to make to buy a $550K house in Virginia?
About $152,600 a year, so that the payment stays under 28% of your gross income.
What is the property tax on a $550K house in Virginia?
At Virginia's typical effective rate of 0.71%, about $3,908 a year. Rates vary by county and city — see the county pages.