Can I Afford a $100K Home in Virginia?
Complete mortgage breakdown for a $100,000 home in Virginia, including monthly payments, property taxes, insurance, and the salary you need to qualify.
Estimated Monthly Payment (20% down)
$717/mo
P&I: $526 + Tax: $67 + Insurance: $125
Monthly Payment by Down Payment
| Down Payment | Amount | Monthly | Income Needed |
|---|---|---|---|
| 3% | $3,000 | $869 | $37,256 |
| 5% | $5,000 | $855 | $36,657 |
| 10% | $10,000 | $820 | $35,160 |
| 20% | $20,000 | $717 | $30,738 |
Monthly Cost Breakdown (Virginia)
Principal & Interest
$526/mo
Property Tax (0.8%)
$67/mo
Homeowners Insurance
$125/mo
Total Interest (30-yr)
$109,195
Affordability Rules of Thumb
28% Rule (Housing)
$30,738/yr
Minimum gross income
36% Rule (All Debt)
$23,907/yr
If no other debt
3Ã Income Rule
$33,333/yr
Conservative target
Buying a $100K Home in Virginia
A $100,000 home in Virginia is at or below the national median home price. With a 20% down payment of $20,000, your estimated monthly payment of $717 is achievable on a salary of $30,738 or more. Virginia's property tax rate of 0.8% is near the national average.
These estimates assume a 6.875% 30-year fixed mortgage rate. Use our mortgage calculator for custom scenarios, or check what salary you can afford in Virginia.