Virginia Beach, VA Mortgage Calculator
Estimate your monthly mortgage payment in Virginia Beach including property taxes, homeowners insurance, PMI, and 2026 loan limits.
Local Home Values & Affordability
Virginia Beach's median home value of $360,000 runs about 16% above the US median of $310,000, reflecting strong local demand.
A 20% down payment on a median Virginia Beach home requires $72,000 in cash — or $12,600 for an FHA-minimum 3.5% down payment. Buyers with less than 20% down will also need to budget for PMI or FHA MIP.
Property Tax in This Market
Based on the 0.99% effective rate and a median home value of $360,000, a typical homeowner in Virginia Beach City pays approximately $3,564 in annual property taxes — or $297 per month added to their mortgage payment.
Virginia Beach City's property tax rate of 0.99% is close to the national average of 1.10%. On a median-priced home of $360,000, expect an annual tax bill of approximately $3,564.
Sources: Tax Foundation 2025
Homeowners Insurance Costs
Homeowners insurance in Virginia Beach City runs approximately $1,350/year ($113/month), in line with the national average of $1,600.
Premium quotes in Virginia Beach City typically range from $900 to $2,000 per year depending on home age, construction type, coverage limits, and your insurer. Always get multiple quotes.
Sources: NAIC 2024
Loan Limits & Financing Options
A buyer purchasing the median Virginia Beach home ($360,000) with FHA's minimum 3.5% down would borrow $347,400 — well within the $541,287 baseline FHA limit for this county. FHA financing is a viable option for most buyers here.
With 20% down on a median-priced home, the loan amount of $288,000 stays $544,750 below the $832,750 conforming limit — giving buyers access to conventional Fannie/Freddie pricing without jumbo underwriting.
All FHA loans require an upfront mortgage insurance premium (UFMIP) of 1.75% of the loan amount, plus an annual MIP of 0.55%–0.75% of the loan balance paid monthly. On a $347,400 FHA loan, expect approximately $159/month in ongoing MIP — added to principal, interest, taxes, and insurance.
Sources: HUD ML 2025-23, FHFA 2026, HUD MIP Rates 2023
Extra Monthly Payment
Estimated Monthly Payment
$2,316
Estimates are for educational purposes only and are not a loan offer or commitment to lend.
Loan Amount: $288,000
LTV: 0.01%
P&I Payment
$1,906
Total Interest
$398,308
over loan life
Payoff
30 yr
Closing Costs
$5,484–$10,237
est. range
Monthly Payment Breakdown
2026 Loan Limit Context
FHA Limit
$541,287
Conforming Limit
$832,750
Amortization Schedule
| Mo. | Payment | Principal | Interest | Balance | Total Interest |
|---|---|---|---|---|---|
| 1 | $1,906 | $238 | $1,668 | $287,762 | $1,668 |
| 2 | $1,906 | $240 | $1,667 | $287,522 | $3,335 |
| 3 | $1,906 | $241 | $1,665 | $287,281 | $5,000 |
| 4 | $1,906 | $243 | $1,664 | $287,038 | $6,664 |
| 5 | $1,906 | $244 | $1,662 | $286,794 | $8,326 |
| 6 | $1,906 | $245 | $1,661 | $286,549 | $9,987 |
| 7 | $1,906 | $247 | $1,660 | $286,302 | $11,647 |
| 8 | $1,906 | $248 | $1,658 | $286,054 | $13,305 |
| 9 | $1,906 | $250 | $1,657 | $285,804 | $14,962 |
| 10 | $1,906 | $251 | $1,655 | $285,553 | $16,617 |
| 11 | $1,906 | $253 | $1,654 | $285,300 | $18,271 |
| 12 | $1,906 | $254 | $1,652 | $285,046 | $19,923 |
2026 Loan Limits — Virginia Beach City, VA
| Limit Type | 2026 Limit | Note |
|---|---|---|
| FHA Loan Limit (1-unit) | $524,225 | Max loan for FHA-insured mortgage |
| Conforming Loan Limit (1-unit) | $806,500 | Fannie Mae / Freddie Mac eligible |
Source: HUD / FHFA. Data as of 2025-01-15.
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