10/13/2026
Your mortgage payment isn’t always your entire monthly housing cost. 🏡
If you’re buying a home in Virginia Beach or Hampton Roads, your budget may also need to account for property taxes, homeowners insurance, HOA or condo fees, flood insurance when applicable, maintenance, and cash reserves.
In this example, a $400,000 home with 20% down uses an illustrative 6.5% rate on a 30-year fixed mortgage to show how those expenses can add up beyond principal and interest.
The takeaway: when deciding how much home you can comfortably budget for, look at the full monthly housing picture, not just the mortgage.
Actual rates, insurance costs, taxes, fees, and loan terms vary. VA and other loan programs may also have different rates, down-payment requirements, and costs.
Have questions about buying a home in Hampton Roads? Send Shannon a DM.