Hampton Roads Mortgage Calculator: Estimate Your Monthly Payment
Get a realistic estimate of your monthly mortgage payment, including principal, interest, property taxes and insurance — all based on Hampton Roads averages, which you can adjust to your specific situation.
Your numbers
$2,657
- Principal & interest$2,102
- Property taxes$292
- Homeowners insurance$125
- PMI / mortgage insurance$139
- HOA dues$0
Down payment
$17,500
Loan amount
$332,500
Estimate only. Your actual rate, taxes, insurance and mortgage insurance will come from your lender and the specific home.
What's included in your mortgage payment
Principal
The part of each payment that pays down your loan balance and builds equity in your home.
Interest
What your lender charges to borrow the money. Early in the loan, most of your payment goes to interest.
Taxes
Property taxes set by your city, usually collected monthly into an escrow account and paid on your behalf.
Insurance
Homeowners insurance protects the home, and mortgage insurance may apply with less than 20% down.
Hampton Roads factors
Flood insurance in coastal or low-lying areas and higher values near the water can raise your payment. Get quotes early so your estimate is realistic.
Not sure which loan fits?
Not sure which loan type fits your situation? Compare VA loans, FHA loans and conventional loans, or see how I help first-time homebuyers in Hampton Roads.
Mortgage Calculator FAQs
How much house can I afford?
A common guideline is keeping your total monthly housing payment around 28% to 31% of your gross monthly income, but lenders look at your full debts, credit and savings. Use the calculator to test prices, then talk to a lender for a real pre-approval number.
What's included in a monthly mortgage payment?
Most payments include principal, interest, property taxes and homeowners insurance (often called PITI). Many also include mortgage insurance if you put less than 20% down, plus any HOA dues you pay separately.
How do property taxes affect my payment in Virginia?
Property taxes are set by each city and are usually collected monthly through your mortgage escrow. Rates across Hampton Roads are typically around 1% to 1.2% of the assessed value per year, so a higher-priced home means a higher monthly tax amount.
Do I need flood insurance in Hampton Roads?
If the home is in a FEMA high-risk flood zone and you have a federally backed mortgage, your lender will require it. Many homes outside those zones still carry it because of coastal flooding, so ask for a quote before you make an offer.
How much should I put down on a home?
It depends on the loan. VA loans can allow $0 down for eligible buyers, FHA loans start around 3.5%, and conventional loans can go as low as 3% to 5%. Putting 20% down on a conventional loan avoids private mortgage insurance.
Ready to get pre-approved?
I'll connect you with a trusted local lender who can turn this estimate into a real pre-approval, so you can shop with confidence.