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Virginia Beach City FHA Loan Calculator

Adjust the sliders to model your loan in real time. We have prefilled this page with local benchmark averages for Virginia Beach city, Virginia based on real HMDA transaction records.

Loan Details
Your credit score determines your risk profile. A higher score lowers your interest rate and conventional PMI costs.

Representative Score: 780 (Excellent (Prime)) · FHA uses credit-agnostic pricing

Virginia Beach city, VA Benchmarks

FHA averages
Typical Property Value$364,289
Average Down Payment11.2%
Average Interest Rate6.265%
Effective Tax Rate0.78%
$
%

$40,800 down · $323,489 financed

Estimated Monthly Payment

$2,553/mo

  • Principal & Interest$2,029
  • Property Tax$237
  • Home Insurance$150
  • FHA MIP$137
Amortization · Remaining Balance

Financed Loan Amount

$329,150

Total Interest

$401,208

Total of Payments

$730,358

*Includes financed FHA Upfront MIP of $5,661

Local Market Insights

Virginia Beach city FHA Mortgage Overview

For Virginia Beach city homebuyers using an FHA loan, the 11.22% average down payment provides accessible entry, though mandatory Mortgage Insurance Premiums (MIP) apply for the loan's life regardless of equity. The 88.78% loan-to-value ratio confirms this, making it ideal for those with sub-620 credit. The effective 0.78% property tax rate, adjusted upward by 1.4% for inflation, adds roughly $237 monthly to a $364,289 property, a key factor when evaluating FHA loan down payment and taxes in Virginia Beach city. All data reflects owner-occupied purchases.

Disclaimer: This calculator provides estimates for educational purposes only and does not constitute a loan offer or financial advice. Actual rates, taxes, insurance, and fees will vary.