Mortgage Calculator
Estimate your monthly payment based on home price, down payment, and interest rate
Understanding Your Mortgage Payment
Principal & Interest
The core of your payment. Principal pays down your loan balance, while interest is the cost of borrowing.
Property Taxes
In Northern Virginia, property taxes average around 1.1% of home value annually, paid monthly through escrow.
Homeowners Insurance
Required by lenders, typically $1,000-2,000 per year depending on coverage and home value.
PMI (if applicable)
Private Mortgage Insurance is required with less than 20% down, typically 0.5-1% of loan amount annually.
Monthly Payments by Price Range
$500K
$3,200-3,500/mo
20% down
$750K
$4,800-5,200/mo
20% down
$1M
$6,400-7,000/mo
20% down
$1.5M
$9,600-10,500/mo
20% down
*Estimates based on 6.5% rate, include taxes & insurance. Actual payments may vary.
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