The price tag isn't the cash you need.
A mortgage finances most of a home's price. What matters is the down payment that fits you, the monthly payment, and the cash to close. See the real scenarios — no sign-up, no guesswork.
Assumes a 30-year loan, Virginia-typical property tax (~0.82%/yr — it varies by locality) and insurance. Rates shown are assumptions, not offers.
What $500K actually takes
3% down
Some conventional first-time programs start here — eligibility is the lender’s call.
3.5% down
The FHA-style minimum — whether FHA fits you is a lender question.
5% down
A common conventional starting point.
10% down
Smaller loan and PMI than the minimums.
20% down
no PMINo PMI — the classic benchmark, not a requirement.
Down payment
Some conventional programs start near 3%; FHA-style near 3.5%. Twenty percent is a benchmark, not a rule — eligibility is the lender’s call.
Closing costs
Roughly 3% of price in Virginia — lender, title, recording and prepaid escrow. Seller or builder credits can offset them when offered in writing.
The monthly payment
Principal, interest, property taxes, insurance — plus PMI under 20% down and HOA where it applies. The payment is what you live with.
PMI
A monthly add-on below 20% down on conventional loans. It’s removable as equity grows — often a fair price for buying years sooner.
Want these numbers made real?
A lender turns estimates into a pre-approval; Raoul connects you with good ones and builds the plan around your actual life.
Educational estimates, not a pre-approval, loan offer, or guarantee of qualification. Program eligibility, rates and required cash are determined by lenders; taxes vary by Virginia locality. Confirm every figure with a lender before making decisions.