Surry County Conventional Mortgage Calculator

For Surry County conventional buyers, the 26.74% average down payment and 73.26% loan-to-value (LTV) ratio indicate strong equity and credit profiles. This upfront equity immediately eliminates the need for private mortgage insurance (PMI), a significant cost savings versus lower-down-payment loans. With a 7.37% average rate on a $355,166 property, the effective 0.67% property tax rate adds roughly $198 monthly. However, the recent 8.7% inflation-adjusted tax increase means true affordability is tightening. Using a conventional loan with taxes in Surry County, VA, buyers with 20% equity from day one avoid PMI entirely. For those exploring a conventional mortgage with PMI and taxes in Surry County, Virginia, maintaining that 20% equity threshold is key to canceling PMI. This data reflects 100% primary residence purchases, emphasizing stable, owner-occupied demand in the market.