CALCMONEY // MORTGAGE // VA // CHESAPEAKE
Calculate your monthly mortgage payment using Chesapeake-specific property tax rates and local market data.
$375,000
6.9%
0.91%
101
| Principal & Interest | $1,976 |
| Property Tax | $284 |
| Homeowners Insurance (est.) | $125 |
| Total Monthly Payment (PITI) | $2,385 |
$75,000
$411,288
$102,222/yr
Home prices in Chesapeake run 11% below the national median: $375,000 versus $420,000. Relative to the $80,000 median household income here, the price-to-income ratio comes out to 4.7x.
Property taxes in Chesapeake run 0.91% of assessed value, below the 1.1% national average. On the median home, that's $3,413 a year, or $284 added to the monthly payment.
Unlike the nine no-income-tax states, Virginia taxes wage income. Worth running your actual take-home pay against the $2,385/month payment here before locking in a target price.
Day-to-day expenses in Chesapeake track at 101 against the national 100 baseline, above average once you look past the mortgage payment itself.
Chesapeake's median home price runs 7% higher than nearby Richmond: $350,000 there versus $375,000 here.
Once you have your payment estimate, comparing lenders is the most important step. A 0.25% rate difference on a $300,000 loan saves $13,500 in interest over 30 years.
Compare Top Chesapeake Mortgage LendersRichmond
$350,000 median
VAVirginia Beach
$365,000 median
VANorfolk
$295,000 median
VAArlington
$720,000 median