Conventional Loan Calculator — Virginia
In Virginia, one-unit loans up to $832,750–$1,249,125 are conforming. With 10% down on the typical $415,000 home, the $373,500 loan carries estimated PMI of 0.72% ($224/mo), which drops off after about 9 years once the balance reaches 80% of the price.
Virginia has the 23rd-lowest effective property tax rate of the 50 states at 0.78% — $540 less a year than the 0.91% state average on a $415,000 home. Homeowners insurance averages $2,074 a year, the 20th-lowest premium nationally and $646 less than the typical state.
Loan Parameters
Total Monthly Payment
$3,159
Principal & Interest + Taxes + Insurance
APR 7.488%
Total Interest
$523,780
Total Cost
$1,079,019
Advanced Parameters
Private Mortgage Insurance (PMI)
Your down payment is below 20%. PMI is estimated at 0.72% annually and is removed here when your LTV reaches 80%.
Loan Summary
Payoff Date
Sep 2056
Interest / Principal
1.40x
Mortgage Insurance Ends
Feb 2035
50% Equity
Jul 2048
Amortization Schedule
| Period | Payment | Principal | Interest | PMI | Balance | Equity |
|---|---|---|---|---|---|---|
| Year 1 | $29,909 | $3,772 | $26,137 | $2,689 | $369,728 | $45,272 |
| Year 2 | $29,909 | $4,046 | $25,863 | $2,689 | $365,682 | $49,318 |
| Year 3 | $29,909 | $4,340 | $25,569 | $2,689 | $361,342 | $53,658 |
| Year 4 | $29,909 | $4,655 | $25,254 | $2,689 | $356,687 | $58,313 |
| Year 5 | $29,909 | $4,993 | $24,916 | $2,689 | $351,694 | $63,306 |
| Year 6 | $29,909 | $5,355 | $24,554 | $2,689 | $346,339 | $68,661 |
| Year 7 | $29,909 | $5,744 | $24,165 | $2,689 | $340,595 | $74,405 |
| Year 8 | $29,909 | $6,161 | $23,748 | $2,689 | $334,433 | $80,567 |
| Year 9 | $29,909 | $6,609 | $23,300 | $896 | $327,825 | $87,175 |
| Year 10 | $29,909 | $7,089 | $22,821 | — | $320,736 | $94,264 |
| Year 11 | $29,909 | $7,603 | $22,306 | — | $313,133 | $101,867 |
| Year 12 | $29,909 | $8,155 | $21,754 | — | $304,977 | $110,023 |
| Year 13 | $29,909 | $8,748 | $21,162 | — | $296,230 | $118,770 |
| Year 14 | $29,909 | $9,383 | $20,526 | — | $286,847 | $128,153 |
| Year 15 | $29,909 | $10,064 | $19,845 | — | $276,783 | $138,217 |
| Year 16 | $29,909 | $10,795 | $19,114 | — | $265,988 | $149,012 |
| Year 17 | $29,909 | $11,579 | $18,331 | — | $254,410 | $160,590 |
| Year 18 | $29,909 | $12,419 | $17,490 | — | $241,990 | $173,010 |
| Year 19 | $29,909 | $13,321 | $16,588 | — | $228,669 | $186,331 |
| Year 20 | $29,909 | $14,288 | $15,621 | — | $214,381 | $200,619 |
| Year 21 | $29,909 | $15,326 | $14,583 | — | $199,055 | $215,945 |
| Year 22 | $29,909 | $16,439 | $13,471 | — | $182,617 | $232,383 |
| Year 23 | $29,909 | $17,632 | $12,277 | — | $164,985 | $250,015 |
| Year 24 | $29,909 | $18,912 | $10,997 | — | $146,072 | $268,928 |
| Year 25 | $29,909 | $20,286 | $9,624 | — | $125,787 | $289,213 |
| Year 26 | $29,909 | $21,759 | $8,151 | — | $104,028 | $310,972 |
| Year 27 | $29,909 | $23,338 | $6,571 | — | $80,690 | $334,310 |
| Year 28 | $29,909 | $25,033 | $4,876 | — | $55,657 | $359,343 |
| Year 29 | $29,909 | $26,851 | $3,058 | — | $28,806 | $386,194 |
| Year 30 | $29,915 | $28,806 | $1,109 | — | $0 | $415,000 |
Conventional Loan numbers for Virginia
- Typical Virginia home value
- $415,000
- 10% down ($41,500) · Zillow, August 31, 2026
- Loan amount
- $373,500
- conforming in all 133 Virginia counties
- Estimated monthly payment
- $3,159
- APR 7.488%
- Virginia property tax
- 0.78%
- $270/mo
- Homeowners insurance
- $2,074/yr
- $173/mo
- Virginia conforming limit
- $832,750 – $1,249,125
- Above this, the loan is jumbo
- PMI
- 0.72% · $224/mo
- Drops off after 9 years
How much house can you afford in Virginia with a conventional loan?
Highest price where principal, interest, Virginia property tax, insurance and PMI stay within 28% of gross income —10% down, 30-year fixed at 7.03%. Other debts lower these numbers.
| Household income | Housing budget / mo | Max home price | Down payment | vs typical home |
|---|---|---|---|---|
| $50,000 | $1,167 | $138,000 | $13,800 | 33% |
| $75,000 | $1,750 | $219,000 | $21,900 | 53% |
| $100,000 | $2,333 | $300,000 | $30,000 | 72% |
| $125,000 | $2,917 | $381,000 | $38,100 | 92% |
| $150,000 | $3,500 | $462,000 | $46,200 | 111% |
| $200,000 | $4,667 | $624,000 | $62,400 | 150% |
| $250,000 | $5,833 | $786,000 | $78,600 | 190% |
Conventional vs other loan types in Virginia
$415,000 home, each program's typical minimum or default down payment, current average 30-year rate.
| Loan type | Down | Loan amount | Upfront fee | Monthly MI | Total / month | APR |
|---|---|---|---|---|---|---|
| Conventional | 10% · $41,500 | $373,500 | — | $224 PMI | $3,159 | 7.488% |
| FHA | 3.5% · $14,525 | $407,483 | UFMIP $7,008 | $186 MIP | $3,348 | 7.761% |
| VA | 0% · $0 | $423,923 | Funding fee $8,923 | $0 | $3,271 | 7.242% |
| JumboLoan is conforming (≤ $832,750) | 20% · $83,000 | $332,000 | — | $0 | $2,658 | 7.030% |
Frequently asked questions
What is the monthly payment on a $415,000 home with a conventional loan in Virginia?
Estimated $3,159 per month ($2,492 principal & interest, $270 property tax, $173 insurance, $224 PMI) at 7.03% for 30 years, with 10% down. APR 7.488%.
How much is PMI on a Virginia conventional loan?
At 90% loan-to-value, PMI is estimated at 0.72% a year ($224/mo). It can be removed once the balance reaches 80% of the home's original value.
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Data sources & assumptions
- Freddie Mac Primary Mortgage Market Survey (PMMS) — Weekly average as of September 24, 2026
- Zillow Home Value Index (ZHVI), typical home value, all homes — Default home prices; typical value as of August 31, 2026
- FHFA 2026 Conforming Loan Limit Values (one-unit) — 2026 one-unit limits, 56 states & territories
- Effective statewide property tax rate (Tax Foundation, 2026 projections) — Statewide effective rate; county rates vary
- Average annual homeowners premium, $300K dwelling / $1K deductible (industry survey averages) — Statewide average premium
- CFPB — What is private mortgage insurance?
- Homeowners Protection Act (PMI cancellation at 78–80% LTV)
Estimates exclude lender origination fees, points and closing costs. See our methodology for formulas and limitations.