Home / Chesapeake, VA
Mortgage Calculator — Chesapeake, VA
Median home price in Chesapeake: $340,000. Monthly payment: $1,810/month (20% down, 7%, 30yr). Property tax rate: 0.87%.
= $68,000
Monthly Payment
$1,810
Loan Amount
$272,000
Total Interest
$379,464
Total Cost
$719,464
Payment Breakdown
Down Payment$68,000 (9.5%)
Principal$272,000 (37.8%)
Total Interest$379,464 (52.7%)
Chesapeake Mortgage Payments by Rate
| Rate | 15-Year | 30-Year | Total Interest (30yr) |
|---|---|---|---|
| 5.5% | $2,222 | $1,544 | $283,979 |
| 6% | $2,295 | $1,631 | $315,080 |
| 6.5% | $2,369 | $1,719 | $346,921 |
| 6.75% | $2,407 | $1,764 | $363,107 |
| 7% | $2,445 | $1,810 | $379,464 |
| 7.25% | $2,483 | $1,856 | $395,987 |
| 7.5% | $2,521 | $1,902 | $412,671 |
| 8% | $2,599 | $1,996 | $446,502 |
Chesapeake Property Tax & Total Housing Cost
Property Tax Rate
0.87%
$2,958/year
Monthly P&I
$1,810
20% down, 7%, 30yr
Est. Total Monthly
$2,056
P&I + property tax
Affordability in Chesapeake
10% down ($34,000)$97,814/yr needed
15% down ($51,000)$92,967/yr needed
20% down ($68,000)$88,120/yr needed
25% down ($85,000)$83,272/yr needed
Based on 28% housing cost rule. Includes property tax.