Virginia Beach City, VA Mortgage Calculator
Estimate your monthly mortgage payment in Virginia Beach City with local property tax rates, homeowners insurance, and 2026 FHA and conforming loan limits.
Local Home Values & Affordability
Virginia Beach City'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 City 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 City 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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