True Mortgage Cost

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Virginia Mortgage Calculator

The true cost of owning a home in Virginia includes property tax at 0.87%, homeowners insurance averaging $1,500/year, transfer tax, plus PMI if your down payment is under 20 percent.

Current 30 year fixed, conventional: 6.85% · as of October 10, 2026

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Your home

State median: $370,000
 
Shorter term = higher payment, less total interest

Your loan

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Live FRED 30yr fixed: 6.85%

Monthly extras

Virginia average: 0.87%
State average: $1,500/yr
Leave 0 if no HOA

Your monthly payment

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Payment breakdown

Principal & interest—
Property tax—
Home insurance—
PMI—
MIP (FHA/USDA)—
HOA—

Loan summary

Loan amount—
Down payment—
Total interest—
Loan payoff—

At closing

Virginia closing costs

Virginia charges a real estate transfer tax of about 0.333% of the sale price, typically paid by the split.

Grantor $1 per $1000 + Grantee $0.25 per $1000 + recordation $0.25 per $100

Virginia requires an attorney to conduct real estate closings. Typical attorney fees: $500 to $1,500.

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Other South states

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