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Colonial Heights City Conventional Mortgage Calculator

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

Loan Details

Colonial Heights city, VA Benchmarks

Conventional averages
Typical Property Value$319,864
Average Down Payment21.9%
Average Interest Rate7.383%
Effective Tax Rate0.75%
Median Tax Paid$2,071/yr
Tax Growth (Historical)-5.5%
Based on 257 regional loans totaling $40,355,000 (HMDA database).
$
%

$70,050 down · $249,814 financed

%
yrs
$

Paid directly to principal

Payoff estimated June 2056

Local & Recurring Costs

%

$200 / month

$

Annual premium

$

Per month

%

Not required at 20%+ down

Estimated Monthly Payment

$2,076/mo

  • Principal & Interest$1,726
  • Property Tax$200
  • Home Insurance$150
Amortization · Remaining Balance

Loan Amount

$249,814

Total Interest

$371,637

Total of Payments

$621,451

Local Market Insights

Colonial Heights city Conventional Mortgage Overview

In Colonial Heights city, the 21.89% average down payment on a Conventional loan signals strong buyer credit and equity, typically eliminating the need for Private Mortgage Insurance (PMI) from the start. With a median loan-to-value (LTV) of 78.11%, buyers already hold over 20% equity, ensuring no PMI cancellation timeline is needed. The effective property tax rate of 0.75% is moderate, and the recent -5.5% inflation-adjusted tax change slightly lowers monthly affordability. For a Conventional loan with taxes in Colonial Heights city, VA, this data underscores a stable, owner-occupied market where higher down payments reduce long-term costs.

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.